Sensex Trades Lower; M&M And Vedanta Top Losers

Share markets in India are presently trading on a negative note. Barring IT stocks and banking stocks, all sectoral indices are trading in the red with stocks in the metal sector, auto sector and oil & gas sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 169 points (down 0.5%), while the NSE Nifty is trading down by 43 points (down 0.4%). The BSE Mid Cap index is trading down by 0.3% and the BSE Small Cap index is trading on a flat note.

On Monday, the Sensex closed at 36,068.

A year ago, on the last trading day of 2017, the Sensex had closed at 34,057.

That's a 6% gain for the Sensex in 2018.

For equities, that's not a good enough return. Your money could have done better parked in fixed deposits.

The Story of Sensex 2018

In fact, the total market value of all listed companies on the BSE declined 5% to Rs 144.1 trillion from Rs 151.7 trillion at the end of 2017.

Meanwhile, the rupee is currently trading at Rs 69.60 against the US$.

In the news from the automobiles sector, Eicher Motors share price is witnessing selling pressure today after Royal Enfield, the motorcycle franchise owned by the company reported a 13% YoY decline in total sales at 58,278 units in December 2018.

Shares of the company declined around 5% on the back of the above news.

The company had sold 66,968 motorcycles during the same month last year.

Total motorcycle sales declined by 5.9% at 194,473 units, against 206,585 units sold in the previous year's quarter.

In another news, M&M share price is also in focus today.

Shares of Mahindra and Mahindra (M&M) declined 4% on disappointing sales numbers for December 2018 due to tight liquidity and low buying sentiment.

According to reports, the company sold 17,404 units of tractors in December, down 6% as compared to 18,488 units sold in the same month last year.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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