Indian Indices Open Flat

Mon, 29 Aug 09:30 am

   Previous Close   

   Pre-Open   

   11:30 am   

   01:30 pm   

   Closing   

Barring Japan, major Asian stock markets have opened the day on a negative note with the stock market in Indonesia is trading lower by 1%.

Benchmark indices in Europe ended their previous session in green with stock markets in France, ending the day higher by 0.8%. While, stock market in the US ended the day lower by 0.4% post Jane Yellen's speech indicating a rate hike in the month of December.

The rupee is trading at 67.05 per US$.

Indian stock markets have opened the day on a negative note. The BSE Sensex is trading marginally lower by 20 points (down 0.1%) and the NSE Nifty is trading lower by 7 points (down 0.1%). Both, BSE Mid Cap and BSE Small Cap are trading marginally higher by 0.1% and 0.2% respectively.

Stocks from consumer durables and automobile sector are witnessing maximum buying interest.

As per an article in Livemint, Tata Motor's subsidiary Jaguar Land Rover's (JLR) profit after tax on a consolidated basis fell by as much as 57% during the quarter ended June. This revived some of the fears that Tata Motors would be the worst hit Indian company on account of the impact of Britain leaving the European Union.

However, the impact of Brexit on the quarterly result was a one-off and is not going to significantly impact the financials in the coming quarters. The profits fell mainly on the back of a steep depreciation in pound, which led to foreign exchange fluctuation losses.

Reportedly, the pound had depreciated sharply post-Brexit, resulting in losses on derivatives contracts used by the company to hedge its exposure to other currencies. Besides, the restatement of assets and liabilities as on 30 June also led to forex losses worth 84 Million Euros. However, this was a one-off and is not expected to occur henceforth.

In fact, depreciation of the pound will work in favour of the company going forward as it exports 80% of its vehicles outside the UK. It does import 40% of its components, on which it will take a hit on the forex front-but on a net basis, it will gain from a weak pound.

Further, a transition to Indian-AS too impacted the profits adversely. The positives from the declared results were that the new JLR models are gaining traction in the market. The F-Pace model launched earlier this year has a waiting period of three to four months and accounted for 40% of total Jaguar sales during the quarter. The recently launched Evoque Convertible too has created some excitement in the market.

The performance of JLR coupled with the traction from new models such as Tiago and other upcoming launches will be the key things to watch out for going forward.

In another news update, cement prices have fallen in almost all parts of the country except the southern region in the on-going quarter. Usually, this quarter is seasonally weak on account of a halt in the construction activity due to the monsoon season.

However, the good part is that the prices have not fallen as steeply as it did in the same quarter in the previous year. Though, the worrying part is that the volume off-takes have still not improved. Despite the government's efforts to push infrastructure and allied activities, the impact of these measures is yet to be felt on the ground level.

Provided, the off-takes do not pick up in the second half of the fiscal year the cement prices could possibly move further southwards which could possibly impact the financials of the cement companies.

A pick-up in the construction of real-estate activities and road projects would be the key things to watch out for going forward.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers