US Fed Meet, SBI Life IPO and Other Top Cues in Action Today

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Share markets in India ended lower on Tuesday as financial stocks such as Housing Development Finance Corp dragged both indices amid investor caution ahead of the US Federal Reserve's policy statement this week.

At the closing bell, the BSE Sensex closed lower by 21 points and the NSE Nifty finished down by 6 points.

Among BSE sectoral indices, oil & gas index gained the most by 1.2%, followed by realty 0.8% and automobile 0.6%. On the other hand, metal index was down 0.6%, capital goods 0.4% and healthcare 0.3%.

Top Stocks in Action Today

SpiceJet share price will be in focus today after it reported the Passenger Load Factor (PLF) of 94.5% during the month of August this year. The company had reported PLF of 94.4% during July 2017.

HYPERLINK "https://www.equitymaster.com/share-price/CADIL/CADILAHC-532321/CADILA-HEALTHCARE-Share-Price" Cadila Healthcare share price will also hog limelight today after its arm Zydus Cadila entered into an exclusive agreement for the technology partnership with Russia's Pharma Aid for varicella (chickenpox) vaccine production in the Russian Federation.

Mahindra & Mahindra (M&M) on Tuesday unveiled the country's first driverless tractor. The tractor was developed at the automobile giant's research facility in Chennai. The shares of the company will be in focus today.

Oil and Natural Gas Corporation's (ONGC) overseas arm - ONGC Videsh (OVL) and its consortium partners of the giant Azeri-Chirag-Deepwater portion of Gunashli (ACG) fields in Azerbaijan have entered into an agreement with Azerbaijan Government and its State Oil Company of the Azerbaijan Republic (SOCAR) for extension of the duration of the Production Sharing Agreement (PSA) for AGC oil fields until 31 December 2049.

Bulk and Block Deals

Shares of select Tata Group companies such as Tata Motors, Tata Chemicals and Tata Global Beverages will be in focus after a huge block deals executed on these counters.

Other stocks that reacted to bulk deals on Tuesday were Dixon Technologies, Bharat Road Network, Indiabulls Real Estate, Hawkins Cookers, Tide Water Oil, Omkar Specialty Chemicals.

As you may know by now, our team of Equitymaster analysts have been working on a project to track the smartest minds in value investing. They have compiled a special report on them, called The Superinvestors of India.

Click here for get a free copy.

Now, because of insights from these interactions, the team has glued their eyes on insider activity and bulk and block deals...

As per them...

• "The three approaches - tracking superinvestor shareholdings, catching these moves early through bulk and block deal disclosures, and keeping tabs on changes in promoter holdings - have unveiled some critical smart money secrets..."

Global Stock Market Key Events

It was a mixed picture across equity markets on Tuesday, with Japanese shares surging after a holiday while European stocks followed many Asian peers downward. The euro climbed and the dollar traded sideways before a Federal Reserve meeting that's expected to set out a plan for reducing the central bank's bond holdings.

What to watch out for this week:

• Brexit strategy is in focus as Theresa May prepares to outline her revised approach on Friday.
• The Fed's rate decision is Wednesday.
• As per Bloomberg, the Bank of Japan is predicted to stand pat when it reviews policy Thursday. The BOJ probably won't reveal when it will unwind stimulus, but could signal determination to keep the yield curve under control.
• Indonesia, the Philippines and South Africa are among countries also reviewing monetary policy this week.
• Home construction and sales of previously owned properties are the highlights of the week's US economic calendar.

Oil Steady on Tighter Middle East Supplies

Oil markets held largely steady on Tuesday, even as OPEC producers Saudi Arabia and Iraq pointed to a reduction in supplies in line with efforts to tighten the market and prop up prices.

Prices were capped by rising US shale output and fears that another strong hurricane hitting the Caribbean could knock out refineries and disrupt shipping to and from the United States.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

From the IPO Space

The initial public offering (IPO) market in India is strengthening, with companies raising (or about to raise) nearly Rs 260 billion in funds and an even stronger pipeline in the offing.

General insurer ICICI Lombard General Insurance Co. Ltd's IPO raised to Rs 57 billion that opened on 15 September 2017. ICICI Lombard's IPO was fully subscribed early on the last day of the sale on Tuesday While life insurer SBI Life Insurance Co. Ltd's Rs 87 billion IPO is scheduled to open from today.

Meanwhile, the National Highways Authority of India (NHAI) is planning to launch its very own IPO as one of the methods to fund cost-intensive infra projects.

So, do these companies have sound business models? Are they leaving enough money on the table for investors? We have released our IPO note for both the above IPOs. You can access the same in our IPO section.

To know which IPOs to subscribe to, you can download our FREE report - How to Get Rich with IPOs. This report will show you how to safely profit from the 2017 IPO rush.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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