India's Manufacturing Activity, October Automobile Sales, and Top Stocks in Action Today

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On Friday, Indian share markets traded on a volatile note throughout the day and ended flat.

Benchmark indices extended their winning streak to the sixth day amid positive global cues, a strong set of corporate results and expectations of a better third quarter.

The BSE Sensex closed higher by 36 points to end the day at 40,165. IndusInd Bank and Tata Steel were among the top gainers.

While the broader NSE Nifty ended up by 22 points to end at 11,900.

Among BSE sectoral indices, metal stocks gained the most, followed by telecom stocks and realty stocks.

Top Stocks in Action Today

Lupin share price will be in focus today as the company has received approval for its ANDA for Levothyroxine Sodium Tablets USP from the United States Food and Drug Administration (USFDA), to market a generic equivalent of LEVOXYL.

Prism Johnson share price will also be in focus today as the company has acquired around 1.5 million equity shares of Rs 10 each aggregating to around Rs 14.8 million constituting 27% in the total paid-up equity share capital of Sunspring Solar, a subsidiary of Cleantech Solar Energy (India).

Market participants will also track Bharat Electronic share price, HDFC share price, and NOCIL share price as these companies are scheduled to announce their Q2FY20 results later today.

India's Manufacturing Activity

India's manufacturing activity hit a two-year low in October as new orders and output rose at a slower pace, making the business confidence slip to its lowest level in over two-and-a-half years, a private survey showed on Friday.

The IHS Markit India Manufacturing PMI fell to a two-year low of 50.6 in October, from 51.4 in September highlighting only a marginal improvement in the health of the manufacturing industry.

The survey report showed that growth was restored in capital goods and softened in the consumer goods category, while a quicker contraction was registered at intermediate goods makers.

Challenging market conditions, coupled with delayed client payment, dampened sentiments in October. Manufacturers were at their least upbeat towards the 12-month outlook for production since February 2017, according to the report.

Official data released on Thursday showed India's core sector output contracting 5.2% in September, posting its worst performance in 14 years.

Core sector has a 40% weightage in the broader index of industrial production, which may now slump further from a 1.1% contraction in August, its worst performance in over seven years.

From the Auto Sector...

SML Isuzu has reported 37.9% fall in October 2019 sales. The company has sold 515 vehicles in October 2019 against 829 vehicles in October 2018.

Atul Auto has reported sale of 5,171 units for the month of October 2019, a fall of 5.5%, as compared to 5,473 units sold in October 2018. Total sales from April to October 2019 stood at 27,944 units.

Ashok Leyland has reported a fall of 35% in October 2019 sales to 9,857 units, as against 15,149 units sold in the same month of last year.

The company reported a decline of 48% in its medium and heavy commercial vehicle (M&HCV) products segment to 5,126 units in October 2019, as compared to 9,797 units sold in October 2018.

Mahindra & Mahindra (M&M) reported a 11% decline in total sales at 51,896 units in the month of October. The auto major had sold 58,416 units in the corresponding month last year.

In the domestic market, sales were down 11% at 49,193 units in October 2019 as compared to 55,350 units in October 2018.

In the passenger vehicles segment, the company sold 18,460 units as compared to 24,066 units in the same month last year. In the commercial vehicle segment, the company sold 23,582 units as against 24,353 units in the same month a year ago.

India's largest carmaker Maruti Suzuki reported a 4.5% increase in total sales at 1,53,435 units in October. The company had sold 1,46,766 units in October last year.

Domestic sales also grew 4.5% to 1,44,277 units last month as against 1,38,100 units in October 2018.

Sales of mini cars comprising Alto, WagonR and newly launched S-Presso stood at 28,537 units as compared to 32,835 units in the year-ago month, down 13.1%.

Sales of compact segment grew 15.9% to 75,094 units as against 64,789 units in October last year.

In a statement to exchanges, the company said exports in October were 5.7% up at 9,158 units as against 8,666 units in the corresponding month last year.

From the Commodity Space...

Oil prices rose mildly on Friday as a surprise bounce in Chinese manufacturing activity calmed investors' worries about progress in US-China trade talks.

Worries over global economic growth along with oil demand kept gains in check as United States and China struggle to end a 16-month dispute that has hit trade between the world's top two economies.

US crude inventories rose by 5.7 million barrels in the week to October 25, against analysts' expectation for an increase of just 494,000 barrels.

A Reuters survey found output from Organization of the Petroleum Exporting Countries (OPEC) recovered in October from an eight-year low, with a rapid recovery in Saudi Arabian production from September attacks on its oil infrastructure.

Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30% increase in Gulf of Mexico output.

To know more about crude oil and the recent developments in this space, you can read Vijay Bhambwani's article here: Message of the Markets - What is Crude Oil Indicating?

And 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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