Indian Indices Trade Marginally Higher; Auto Sector Up 1.7%

Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the realty sector and auto sector witnessing maximum buying interest.

The BSE Sensex is trading up 49 points (up 0.1%) and the NSE Nifty is trading up 5 points (up 0.1%). The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 65.02 to the US$.

In the news from the pharma space, Akzo Nobel share price is witnessing buying interest today. Most of the gains are seen as the company has informed bourses that its board will meet on April 6 to consider a proposal to buyback its equity shares.

At the time of writing, Akzo Nobel share price was trading up by 7.7% on the BSE.

Speaking of share buybacks, the quantum of share buybacks far exceeded the amount of new equity capital raised from IPOs last financial year.

In the news from global financial markets, the Trump administration has announced 25% tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing’s intellectual property practices.

The above list ranges from chemicals to TV sets, motor vehicles and electronic components.The US Trade Representative’s office unveiled a list of mainly non-consumer products representing about US$ 50 billion of estimated 2018 imports that would hit supply chains for many US manufacturers.

The above development follows China’s imposition of tariffs on US$3 billion worth of US products.

The above measures by the US and China have raised fears of a potential trade war between the world’s two largest economies.

How exactly this trade war will unfold is something to watch out for. We’ll keep you updated on all the developments from this space.

Jubilant FoodWorks share price is in focus today as the Directorate General of Safeguards (DGS) slapped a profiteering notice on the company for allegedly not passing on GST rate cut benefit to consumers at its Dominos Pizza outlets.