Sensex Ends 413 Points Higher; Telecom and Metal Stocks Rally

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Indian share markets moved sharply higher today amid positive global cues. The BSE Sensex and NSE Nifty registered new record highs amid trade deal optimism.

On the sectoral front, gains were largely seen in the telecom sector, metal sector and IT sector.

At the closing bell, the BSE Sensex stood higher by 413 points (up 1%) and the NSE Nifty closed higher by 111 points (up 0.9%).

The BSE Mid Cap index ended up by 0.4%, while the BSE Small Cap index ended the day up by 0.7%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 1.2% and the Nikkei stood up by 0.5%. The Shanghai Composite stood higher by 1.3%.

The rupee was trading at 70.96 to the US$ at the time of writing.

Speaking of Indian stock markets, Vijay Bhambwani states why he is positive about the markets and the Indian economy for the next 11 months.

As per Vijay, the US election season is set to have a big impact on India. In the video below, he covers what to expect over the next 11 months. Tune in to find out more...

In news from the finance sector, mortgage lender HDFC has lent US$ 100 million to the promoters of India's largest hospital chain Apollo Hospitals, to help repay immediate debt obligations of the hospital chain's promoters.

Reports state that the loan has been used by Apollo promoters to repay debt owed to Credit Suisse.

The promoter group intended to repay the Credit Suisse through proceeds of a 50.8% stake sale in Apollo Munich Health Insurance Co, to HDFC, which will fetch the promoters Rs 10.4 billion.

However, with the Apollo Munich deal yet to materialize, the hospital chain promoters took loan from HDFC to help manage their debt obligations.

HDFC share price ended the day up by 2.3%.

Moving on to news from the automobile sector, Tata Motors share price was in focus today.

As per reports, India's largest vehicle maker is in initial talks with a couple of Chinese automobile companies for a tie-up for its passenger vehicles business.

These companies may either invest directly in Tata Motors or form a joint venture. The collaboration could include joint development of technologies related to electric mobility, sharing of manufacturing capacities, development of engines and platforms and other aspects of the business.

Shares of Tata Motors gained over 3% today on back of the above news.

Reports state that the above move could help Tata Motors significantly reduce its debt for its India business that stands at Rs 233.7 billion. Its consolidated debt, including that of its UK unit Jaguar Land Rover, stands at Rs 954.7 billion.

Note that vehicle makers are increasingly seeking partnerships to invest in futuristic technologies to cope with stringent emission, fuel efficiency and safety standards.

Earlier this year, M&M, the country's third-largest vehicle maker, formed a joint venture with the Indian unit of US carmaker Ford Motor Co. to develop and manufacture combustion engine and electric vehicles.

In other news, shares of Maruti Suzuki gained 1.5% in early trade today after foreign research house Bank of America Merrill Lynch upgraded the stock and also raised the target price.

The research house upgraded its rating on Maruti Suzuki to buy from neutral and raised the target to Rs 8,650 from Rs 7,450 per share.

Maruti Suzuki share price ended the day up by 0.7%.

Speaking of the auto sector, note that India's automobile industry is bracing itself for a unique challenge in the first quarter of 2020 when the transition of BS-IV to BS-VI emission norms has to be made at the stroke of midnight on 31 March 2020.

No BS-IV vehicle could be sold from 1 April 2020, which means automakers would have to reduce their inventory on BS-IV models to zero by then.

The exercise is likely to see companies show extra caution in dispatching cars to dealers in the next few months, which may cause a continuation of the decline in wholesale numbers.

However, 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.

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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