Indian Indices Continue Momentum, Key Q2FY20 Results, and Top Cues in Focus Today

Thu, 17 Oct Pre-Open

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On Wednesday, Indian share markets traded on a volatile note throughout the day and ended marginally higher.

The BSE Sensex closed higher by 93 points to end the day at 38,599. Bajaj Finance and ONGC were among the top gainers.

While the broader NSE Nifty ended up by 43 points to end at 11,472.

Among BSE sectoral indices, oil & gas stocks gained the most, followed by realty stocks and energy stocks.

Top Stocks in Action Today

Sun Pharma share price will be in focus today as one of its wholly owned subsidiaries has launched Drizalma Sprinkle (duloxetine delayed-release capsules) in the US for oral use.

Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) designed for the treatment of various neuro-psychiatric and pain disorders in patients who have difficulty swallowing.

Inox Wind share price will also be in focus today as the company has closed a deal for sale of a 50 MW wind power project at Dayapar, Kutch in the state of Gujarat in which Adani will be the strategic investor.

This project is part of the capacity won under SECI bids for wind power projects connected on the central grid. These 2 MW Wind Turbines have one of the highest swept areas that make it ideally suited to maximize returns in low wind areas.

Market participants will also track PVR share price, Cyient share price, and TVS Motors share price as these companies are set to announce their September quarter (Q2FY20) results later today.

Results Corner

ACC has reported a rise of 45.9% in its net profit at Rs 2,999.7 million for Q2FY20 as compared to Rs 2,055.5 million for the same quarter in the previous year.

Total income marginal increased by 3.3% at Rs 35,783.9 million as compared Rs 34,644.8 million for the corresponding quarter previous year.

Multi Commodity (MCX) has reported a rise of 85.3% in its net profit at Rs 627.3 million for the quarter under review as compared to Rs 338.5 million for the same quarter in the previous year.

DB Corp has reported 63.7% rise in its net profit at Rs 755.6 million for the September quarter as compared to Rs 461.7 million for the same quarter in the previous year.

From the Macroeconomic Space...

Continuing its losing streak for the second straight month, India's merchandise exports dropped by 6.6% in September 2019 as compared to same period of last year, on the back of significant dip in shipments from key sectors like petroleum, engineering, leather, chemicals, and gems & Jewellery.

Trade deficit, gap between imports and exports, narrowed to a seven-month low of US$10.9 billion in September from US$15 billion a year ago.

As per the data released by the Commerce Ministry, merchandise exports fell by 6.6% to US$26 billion in September 2019, as compared to US$27.9 billion in the same month a year ago.

Cumulative value of exports for the period April- September 2019-20 was US$159.6 billion as against US$163.5 billion during the period April- September 2018-19, registering a negative growth of 2.4%.

On the other hand, Imports during September 2019, decreased by 13.9% to US$36.9 billion as compared to US$42.8 billion in September 2018.

Cumulative value of imports for the period April- September 2019-20 was US$243.3 billion, as against US$261.6 billion during the period April- September 2018-19, registering a negative growth of 7%.

Speaking of the macro picture of India, some recent economic numbers have confused investors.

In the video below, Tanushree Banerjee decodes a few economic myths and reveals three big trends of Rebirth of India.

Tune in...

Oil Slips amid Weaker Economic Outlook

Oil prices slipped further below US$ 59 a barrel on Wednesday, pressured by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in US crude inventories.

Signs from the Organization of the Petroleum Exporting Countries (OPEC) that further curbs to oil supply could come in December lent support, as did wider market optimism about a potential Brexit deal.

The International Monetary Fund said on Tuesday the US-China trade war would cut 2019 global growth to its slowest since the 2008-2009 financial crisis.

British and European Union officials resumed talks to clinch a Brexit deal on Wednesday just a few hours after late-night negotiations wound up, but it was far from clear they would reach an agreement before a leaders' summit on Thursday.

As per the economic schedule released by Vijay Bhambwani, here are the important events due later today:

• UK - Retail Sales September (M-o-M)
• Australia - Employment Change (September)
• USA - Building Permits September (M-o-M)

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

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Read the latest Market Commentary

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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

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