Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the auto sector and realty sector witnessing maximum buying interest while oil & gas stocks and banking stocks are witnessing selling pressure.

The BSE Sensex is trading down by 84 points (down 0.2%), while the NSE Nifty is trading down by 34 points (down 0.3%). The BSE Mid Cap index is trading up by 0.3% and the BSE Small Cap index is trading up by 0.2%.

The rupee is trading at Rs 70.52 against the US$.

In the news from the automobiles sector, Ashok Leyland share price is witnessing buying interest today as the company bagged an order to provide buses from state transports.

The company bagged orders from IRT (Institute of Road Transport, Chennai), UPSRTC (Uttar Pradesh State Roadways Transport Corporation) and CTU (Chandigarh Transport Undertaking) for 2580 buses.

In another news, Maruti Suzuki share price is also in focus today as the company on Wednesday said it will hike its car prices by up to Rs 10,000 for select models with immediate effect to offset adverse impact of increase in commodity prices and foreign exchange rates.

Just last week, it was reported that the country's largest car maker sold 1.28 lakh units in December 2018 against 1.3 lakh units sold in same month last year.

Domestic sales grew by 1.8% YoY to 1.21 lakh units, but exports fell sharply by 36.4% to 6,859 units compared to year-ago period.

To know more about the company, you can read Maruti Suzuki Q2FY19 Result Analysis and Maruti Suzuki Annual Report on our website.

Moving on to the news from the airlines sector, Jet Airways share price is in focus today on reports that the cash-strapped company has proposed late debt repayments to creditors.

As per an article in a leading financial daily, Jet Airways proposed to creditors that it would catch up with debt payments in arrears by September and from April would meet debt payments as they come due.

On Tuesday, the company met with lenders, lessors and vendors to discuss its financial situation and a debt-repayment plan.

Last week, the airline delayed payments to a consortium of Indian banks, led by State bank of India.

According to reports, the payment of interest and principal instalment was delayed "due to temporary cash flow mismatch" and the company is in talks with the consortium. The deadline for the payment was December 31, 2018.

This led to downgrading of the airline's loan and debenture ratings by rating agency ICRA.

ICRA revised the long-term rating (assigned to long-term loans and non-convertible debentures) to D from C. The short-term rating has been revised to D from A4.

Last month, Jet was in talks with the SBI for raising Rs 15 billion short-term loan to meet its working capital requirement and some payment obligations.

Reportedly, Jet Airways' strategic partner and Middle-east carrier Etihad, which holds 24% stake in the Indian full-service carrier, is likely to provide guarantee for the loan.

The Naresh Goyal-controlled airline, which has posted three consecutive quarterly losses of over Rs 10 billion each since March, already has as much as Rs 80 billion of debt on its books as on September 30. Rating agency ICRA has already cut the rating on Jet Airways borrowing programmes.

To know more about the company, you can access to Jet Airways' latest result analysis and Jet Airways' 2017-18 Annual Report Analysis on our website.

Domestic airlines have been struggling to make profit because of a rise in operating costs and a weak rupee.

The new year began on a positive note for domestic airlines as state oil marketing companies (OMCs) slashed aviation turbine fuel (ATF) prices by 14.7%.

Note that this is the second consecutive drop in jet fuel price and the sharpest cut since November 2008.

The surge in crude oil prices led to the domestic airlines posting a loss of 23.4 billion in the September quarter.

Reports state that in the first half of FY19, the listed airlines together lost around Rs 0.2 billion per day collectively registering a loss of Rs 36.4 billion.

Crude oil prices, however, are on a decline over the last few weeks over concerns of a supply glut.

Speaking of crude oil, almost every time, a rise or fall in the stock markets is invariably linked to crude oil prices. Have a look at the chart below:

Are Stock Market Returns Really Linked to Crude Oil Prices?

Here's what Girish Shetty wrote about it on one of the recent editions of The 5 Minute WrapUp...

• In the short-term: Yes.
  
  But in the long run, as we can see, Sensex returns have been independent of crude oil prices or even positively co-related!
  
  Crude oil prices doubled from US$ 41 in December 2008 to US$84 in April 2010. In the same time, Sensex also doubled from 8,800 levels to 17,600 levels.
  
  So, please don't fret unnecessarily about crude oil.
  
  Check if your business has a moat that helps it pass on input price increases to its customers. In the long run, they will survive and also gain market share from those that can't pass on prices. Short term pessimism due to rising crude oil prices provides a buying opportunity in these stocks.

As per him, focusing on quality stocks rather than crude oil will matter more in the long run.