X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex, Nifty Close at Record Highs; Bank & Realty Stocks Rally
Fri, 19 Jan Closing | Rini Mehta, TM Team

After opening the day marginally higher, Indian share markets extended gains in the afternoon session after the government decided to cut tax rates on certain products and services. At the closing bell, the BSE Sensex finished higher by 251 points. While, the NSE Nifty finished higher by 78 points. Meanwhile, the S&P BSE Midcap Index and S&P BSE Small Cap Index ended up by 0.9%.

All the sectoral indices ended the day in green with bank stocks, realty stocks and PSU stocks leading the pack of gainers.

Overseas, Asian stock markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.41% while China's Shanghai Composite is up 0.38% and Japan's Nikkei 225 is up 0.19%. European markets are mixed today. The DAX is up 0.46% while the CAC 40 gains 0.13%. The FTSE 100 is even.

The rupee was trading at Rs 63.72 against the US$ in the afternoon session.

Pharma stocks ended the day on a mixed note with Biocon Ltd & Indoco Remedies leading the gainers. As per an article in a leading financial daily, Lupin has launched its Doxycycline Hyclate Tablet USP, 100 mg having received an approval from the United States Food and Drug Administration (USFDA) earlier.

As per IMS MAT November 2017, Doxycycline Hyclate Tablet USP, 100 mg had annual sales of around US$144 million in the US.

Lupin's Doxycycline Hyclate Tablet USP, 100 mg is the AB rated generic equivalent of Pfizer's Vibra-Tabs, 100 mg. It is indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.

Meanwhile, the USFDA has completed an inspection at Cadila Healthcare's API manufacturing facility at Dabhasa.

The facility was inspected in the period from 15 January 2018 to 19 January 2018. At the end of the inspection, no observation (483) was issued.

Speaking of pharma space,  the BSE healthcare index was the worst performing sector in 2017. In fact, the sector has underperformed over the past three years.

While 2018 earnings of pharma companies are expected to be better considering the low earnings base in 2017, certain challenges still remain.

Valuations of Top Pharma Companies Still High

The valuations of the top five companies by market capitalization on BSE healthcare tell a different story though. Average Price to Earnings Ratio of the top five companies stands at 36. Considering the headwinds these companies are facing, it certainly seems rich.

Here's what Kunal Thanvi, our Research Analyst has to speak about the sector:

  • "An improved earnings performance in 2017 will certainly get these valuations to reasonable levels, provided the share price remains the same. But, the headwinds for the sector still exists."

Quicker ANDA approvals has intensified competition amongst generic players. Also, the recent warning letter to Lupin shows the regulatory overhang hasn't been completely resolved yet.

2018 looks likely to be another challenging year for the sector. The uncertainties make it important to be stock specific in the sector.

In such an environment, it makes sense for investors to be selective while buying stocks. Focus on value and the underlying fundamentals of the business.

So, what is key to identifying potential multibagger stocks? How does one pick them at the right time and ride them to their full potential? How many multibaggers do you really need to achieve the big riches that you desire?

Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...

Lupin share price and Cadila Healthcare share price ended the day up by 0.5% & 1.1% respectively.

Moving on to the news from banking sector. HDFC Bank share price ended the day on an encouraging note after the bank reported a record high quarterly profit, as an increase in interest and fee incomes as well as a steady non-performing loan ratio boosted the bottom line.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Net profit for the lender rose 20% to Rs 46.4 billion (US$728.4 million) for the third quarter ended 31 December from Rs 38.7 billion a year ago.

Further, the bank's gross bad loans as a percentage of total loans were 1.3% at end-December, versus 1.3% at end-September.

HDFC Bank, the most valuable in the sector with a market capitalisation of more than US$78 billion, has the lowest bad-loan ratio among top lenders as it focuses on retail clients. It has relatively smaller exposure to segments such as infrastructure financing.

That has helped it grow loans faster at a time when rivals, especially the state-backed lenders, are struggling with record levels of soured loans in the sector.

HDFC Bank's net interest income rose 24.1% from a year to Rs 103.1 billion, helped by average asset growth of 16.6%. Its core net interest margin was 4.3%. Non-interest income rose 23.1% to Rs 38.7 billion.

And here's a note from Profit Hunter:

The Nifty 50 Index traded on a strong note during the week. On Monday, it opened the session 61 points gap up to touch a new life-time high of 10,782 before correcting a bit in the next session. But the selling was temporary as the index continued the bullish momentum and hit a new life-time high daily for the next three sessions. Finally, the Nifty index ended its weekly session 2% up.

The RSI indicator, which suggest the strength of the trend, is now trading in its overbought territory.

So can the index maintain the bullish momentum in the week to come or will it see some correction before scaling up? Let's keep a close watch on it...

Nifty 50 Index Ends at Life-time High
Nifty 50 Index Ends at Life-time High

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

Equitymaster requests your view! Post a comment on "Sensex, Nifty Close at Record Highs; Bank & Realty Stocks Rally". Click here!

  

Stock Market Updates

Most Active Small-Cap Stocks Today; JET AIRWAYS the Most Traded (Today's Market)

Jan 16, 2019 05:02 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

Top 5 Mid-Cap Gainers Today; GODREJ AGROVET LTD Leads the Pack (Today's Market)

Jan 16, 2019 05:02 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

GUJ. STATE PETRONET Surges by 5%; BSE OIL & GAS Index Up 0.6% (Today's Market)

Jan 16, 2019 03:18 PM

GUJ. STATE PETRONET share price has surged by 5% and its current market price is Rs 179. The BSE OIL & GAS is up by 0.6%. The top gainers in the BSE OIL & GAS Index is GUJ. STATE PETRONET (up 5.5%). The top losers are HPCL (down 0.5%) and OIL INDIA LTD. (down 0.7%).

ERIS LIFESCIENCES LIMITED Surges by 10%; BSE HEALTHCARE Index Up 0.5% (Today's Market)

Jan 16, 2019 02:50 PM

ERIS LIFESCIENCES LIMITED share price has surged by 10% and its current market price is Rs 727. The BSE HEALTHCARE is up by 0.5%. The top gainers in the BSE HEALTHCARE Index is ERIS LIFESCIENCES LIMITED (up 10.3%). The top losers are FORTIS HEALTHCARE (down 0.1%) and ABBOTT INDIA (down 0.1%).

APL APOLLO TUBES Surges by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

Jan 16, 2019 02:08 PM

APL APOLLO TUBES share price has surged by 5% and its current market price is Rs 1,175. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index are APL APOLLO TUBES (up 5.4%) and GRAPHITE INDIA (up 8.3%). The top losers are CARBORUNDUM UNIVERSAL and LAKSHMI MACHINE (down 0.1%).

Sensex Trades Rangebound; IndusInd Bank & ICICI Bank Top Gainers (Today's Market)

Jan 16, 2019 12:30 pm

The BSE Sensex is trading up by 74 points, while the NSE Nifty is trading up by 21 points.

View More Indian Share Market News

Most Popular

Our First Bluechip Stock Recommendation in Smart Money Secrets(The 5 Minute Wrapup)

Jan 9, 2019

For the first time, we have recommended a bluechip stock in Smart Money Secrets.

3 Stocks in Super Investor Sumeet Nagar's Portfolio That You Can Buy Right Now(The 5 Minute Wrapup)

Jan 11, 2019

The reasons that make these six stocks in Sumeet Nagar's portfolio so compelling

Follow a Super Investor Like This to Multiply Your Wealth(The 5 Minute Wrapup)

Jan 4, 2019

Following a super investor can certainly help build a portfolio and create wealth in the long term.

15 Mistakes to Avoid to Make a Killing in the Markets(Profit Hunter)

Jan 3, 2019

Richa dissects the common mistakes investors make and how to avoid and even take advantage of them.

My First Stock Trading Recommendation For 2019(Profit Hunter)

Jan 10, 2019

My first trading recommendation for 2019 is a bluechip auto stock. Find out everything about it right away.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jan 16, 2019 (Close)

MARKET STATS