Indian Share Markets Trade Flat; NTPC and Maruti Suzuki Rally 4%

Tue, 2 Nov 10:30 am

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Asian share markets are mixed today as investors awaited several key central bank meetings that could set the tone for risk appetite heading into next year.

The Hang Seng is up 0.6% while the Nikkei is trading lower by 0.5%. The Shanghai Composite fell 0.7%.

In US stock markets, Wall Street indices notched record closing highs on Monday as Tesla shares surged and energy sector gained while investors looked ahead to a major Federal Reserve meeting later in the week.

The Dow Jones Industrial Average went past 36,000 points for the first time ever during intraday trading, ending just shy of that level.

The Dow Jones rose 94 points while the Nasdaq Composite added 98 points, or 0.6%.

Back home, Indian share markets are currently trading on a flat note.

Market participants will track shares of Bharti Airtel, Sun Pharma, Dabur, Godrej Properties and Gillette India as these companies will announce their September quarter results today.

The BSE Sensex is trading up by 66 points. Meanwhile, the NSE Nifty is trading higher by 27 points.

NTPC and Maruti Suzuki are among the top gainers today.

Sun Pharma, on the other hand, is among the top losers today.

The BSE Mid Cap index is up 0.5%. The BSE Small Cap index is trading higher by 0.9%.

Sectoral indices are trading mixed with stocks in the realty sector and auto sector witnessing buying interest.

Healthcare stocks, on the other hand, are trading in red.

Shares of Orient Electric and IIFL Finance hit their 52-week highs today.

The rupee is trading at 74.86 against the US$.

Crude oil prices rose today as key producer group OPEC undershot its expected pace of output increases last month, while China ramped up operating rates to meet a spike in diesel demand.

Gold prices are trading down by 0.1% at Rs 47,832 per 10 grams.

Meanwhile, silver prices are trading down by 0.2% at Rs 64,660 per kg.

Gold eased today as a firmer dollar made bullion less appealing for holders of other currencies.

With Diwali just around the corner, buying gold on this auspicious occasion is discussed in several Indian households.

However, gold has been missing its charm recently. It has remained in a tight range.

It did outperform other asset classes in the pandemic-hit 2020.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

In news from the manufacturing space, India is planning to roll out a multi-billion-dollar capital support and production-linked incentive (PLI) plan to push manufacturing of semiconductors.

Reportedly, senior officers are in talks with some of the top semiconductor manufacturers such as Taiwan Semiconductor Manufacturing Co. (TSMC), Intel, AMD, Fujitsu, United Microelectronics Corp.

A senior official said that the government is willing to talk capital support and they are closer to it like never before.

Note that this move comes at a time when a global chip shortage has massively affected production in industries across several sectors.

Auto companies such as Tata Motors and Maruti Suzuki have reported decline in their sales due to the semiconductor shortage.

The plan is being coordinated and monitored closely by the Prime Minister's Office (PMO) and multiple ministries have been roped into the process.

Financial support on capital expenditure, tariff reductions on certain components, and benefits through programmes such as Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and PLI could be on the cards.

Previous attempts failed to get companies to invest in manufacturing semiconductors because sophisticated processes require heavy investments, besides an uninterrupted supply of clean water and electricity.

The government expects domestic production of electronics to move up to US$350-400 bn by 2025, against the estimated US$75 bn now. This will be a big enabler to get in investments.

How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster Rahul Shah talks about the selling plan one should have in place right before a market crash.

Does a perfect selling strategy exist? What are its key rules or principles?

Rahul answers these questions in the video below. Tune in to find out more:

Moving on to stock specific news...

Hero MotoCorp and Maruti Suzuki are among the top buzzing stocks today.

The country's largest two-wheeler maker Hero MotoCorp reported a 32% dip in total sales to 5,47,970 units for October.

It had sold 8,06,848 units in the corresponding month of the previous year.

In the domestic market, the company's wholesales dropped to 5,27,779 units last month from 7,91,137 units in October 2020.

Exports, however, increased to 20,191 units last month as against 15,711 units in the year-ago month.

The company said that demand in the festive season has been building up as we move towards Dhanteras and Diwali, and it is expecting healthy retail over the coming weeks.

Meanwhile, country's largest carmaker Maruti Suzuki reported a 24% decline in sales at 1,38,335 units in October.

It had sold 1,82,448 units in October last year.

Domestic sales slipped 32% to 1,17,013 units last month against 1,72,862 units in September 2020.

In the overseas market, Maruti Suzuki managed to export a total of 21,322 units, which is the highest-ever monthly export.

Shares of Hero MotoCorp and Maruti Suzuki are currently trading up by 0.2% and 3.5%, respectively.

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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Indian Share Market Update: Top Gainers and Losers