Positive Start to the Day

Tue, 12 Jul 09:30 am

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Major Asian stock markets have opened the day on a positive note with stock markets in Japan and HongKong trading higher by 2.9% and 0.5% respectively. Benchmark indices in the US and Europe ended their previous session on an encouraging note with stock markets in Germany ending the day higher by 2%. The rupee is trading at 67.14 per US$.

Indian stock markets have opened the day on a marginally positive note. The BSE Sensex is trading higher by 74 points (up 0.3%) and the NSE Nifty is trading higher by 23 points (up 0.3%). While, BSE Mid Cap and BSE Small Cap are trading higher by 0.4% and 0.3% respectively.

Major sectoral indices have opened the day in the green with stocks from <>banking sector are witnessing buying interest.

As per an article in Livemint, passenger vehicles sales reported a growth of 2.68% YoY in the month of June. The pace of growth has slowed down as compared to the preceding months. The passenger vehicle segment comprises of three categories: passenger cars, utility vehicles and vans.

Talking about passenger cars, this segment degrew by 5.18%. This was partially on the back of increasing acceptance and demand for utility vehicles such as Renualt Kwid, Ford EcoSport, Mahindra KUV100, Maruti Vitara Breeza etc. The utility vehicle segment posted a growth of 35% YoY in the month of June.

Further, the commercial vehicles segment comprising of bus and trucks reported a growth of 5.6% YoY in June. However, an executive at truck firms believe that the sales will pick up in the month of September as the festive season nears coupled with the change in emission norms from April 2017.

Reportedly, an implementation of the stricter Bharat Stage IV norms of emission from April 2017 is set to make trucks costlier by Rs 1.5-2 lakh. Hence, in order to beat this price rise, the truck operators would advance their purchases.

Sales of two wheelers and three wheelers too witnessed a growth of 12.2% and 10.2% respectively. The implementation of the seventh pay commission is expected to spurt the demand for two-wheelers.

Normal monsoons too could possibly help boost the demand for four-wheelers in the rural areas, wherein the sales have remained depressed for few years.

In another news update, thermal coal prices have increased year-to-date. Reportedly, the price of FOB Kalimantan 4,200 kcal/kg GAR coal, a popular grade among Chinese and Indian buyers, has gained nearly 11% since the start of 2016.

The increase in the prices is on the back of supply tightness in Indonesia and strong demand from China. Higher global prices could well translate into better e-auction realizations for Coal India Ltd (CIL). During FY16, in the E-auctions Coal India's volumes reported a massive growth of 41% YoY. However, the realizations had declined by 24% YoY on account of lower global coal prices.

This trend could possibly reverse in this year, as coal prices are on an increasing trend, which could in-turn benefit the company immensely. The stock of Coal India is trading down by 1.4%.

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