Sensex Trades Lower; Tata Motors & Maruti Suzuki Top Losers

Share markets in India are presently trading lower. All sectoral indices are trading in red with stocks in the realty sector, auto sector and healthcare sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 376 points (down 1.1%), while the NSE Nifty is trading down by 124 points (down 1.2%). The BSE Mid Cap index is trading down 1.2% and the BSE Small Cap index is trading down by 1.3%.

Speaking of small caps, it's interesting to see how the BSE Smallcap index has performed during the years. Have a look at the chart below:

The Smallcap Index Is Up Merely 1% from Its 2008 Top

On 7 January 2008, at the height of the previous bull run, the Smallcap index hit a high of 13,975. In the market crash that followed, the index hit a low of 2,867 on 9 March 2009. In other words, the Smallcap index tanked a whopping 79%!

The rupee is trading at Rs 71.01 against the US$.

In the news from the aviation space, Jet Airways share price is in focus today. As per an article in a leading financial daily, many customers have not been getting refunds on flight cancellations for nearly a month.

The debt-laden airline, which is exploring avenues to raise capital, was recently in the news for measures to cut costs by canceling free meals.

Earlier this week, it canceled 14 flights after pilots did not turn up for duty, protesting salary dues. Reportedly, the customers are not getting a refund even for flights canceled by the airlines.

In another news, the promoters of Jet Airways are close to striking a deal with a consortium of their lenders, led by SBI, to get the troubled firm out of financial stress. The lenders have agreed in principle to convert part of their loans into equity under the proposed debt restructuring plan. The cash-strapped airline had a debt of around Rs 82 billion as of September-end.

The company's financial woes have worsened by rising crude oil prices and intense pricing competition in the domestic aviation industry.

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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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