Sensex Opens Flat; Power and Energy Stocks Lag

Fri, 20 Sep 09:30 am

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Asian share markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.1% while the Hang Seng is up 0.2%. The Nikkei 225 is trading up by 0.4%. A gauge of global equity performance edged higher on Thursday, a day after the Federal Reserve cut interest rates, but crude oil prices climbed higher on concerns last weekend's attacks on Saudi Arabia's oil facilities pose supply risks.

Back home, India share markets opened the day on a flat note. The BSE Sensex is trading up by 14 points while the NSE Nifty is trading down by 10 points. Both, the BSE Mid Cap index and BSE Small Cap index opened flat.

Barring automobiles stocks, bank stocks and consumer durables stocks, all sectoral indices have opened the day on a negative note with power stocks and oil & gas stocks witnessing maximum selling pressure.

The rupee is currently trading at 71.37 against the US$.

In the news from the automobiles sector. In the latest development, Tata Motors on Thursday announced it has developed an all-new powertrain technology, Ziptron, that will power all its electric cars going ahead.

Reportedly, the first electric car with this indigenously developed technology will be launched in Q4FY20.

The Ziptron technology comprises an efficient permanent magnet AC motor along with a dust and waterproof lithium-ion battery system, which meets the IP67 standards, the company stated.

it is interesting to note that despite the slowdown in the auto sector, the sales volume of electric vehicles (EVs) are growing at a robust pace.

Sale of Electric Vehicles in India Projected to Go Up 10x in the Next Two Decades

Electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

The recently announced government incentives will give a further boost to EV sales.

The coming one year will be a real test for India's auto companies.

It will also tell us if this slowdown is temporary or if there has been a structural change in the sector.

In our view, companies in the sector adapting their business models to the rapidly changing environment will survive and thrive.

Speaking of disruptive businesses, Tanushree Banerjee draws an analogy between Titan back in 2003 and today's disruptive businesses in the video below.

Her interesting insights will show you more opportunities in the stock markets to invest. Tune in.

Moving on to the news from the . According to the Directorate General of Civil Aviation (DGCA) data, the domestic air passenger count surged 3.9% in the month of August 2019.

As per the reports, domestic airlines flew 117.9 lakh passengers in August 2019, as against 113.5 lakh passengers carried in the same month of last year.

Further, passengers carried by domestic airlines during January-August 2019 were 943.6 lakh as against 914 lakhs during the corresponding period of previous year, registering a growth of 3.2%

In terms of passenger load factor (PLF), SpiceJet was leading among all with 92.4% PLF during the month of August 2019, followed by Air Asia (87.8%), Go Air (87.5%), IndiGo (84.3%) and Vistara (81.8%).

In terms of on time performance (OTP), Go Air has taken lead from the rest with 85.1% of its flights arriving and departing as per schedule from four metro airports, Mumbai, Delhi, Hyderabad and Bengaluru, followed by Air Asia (82.7%) and IndiGo (80.3%).

Airline stocks opened the day on a mixed note with Jet Airways and Indigo leading the losers.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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