X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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

GE POWER INDIA LTD Surges by 5%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Oct 16, 2018 03:34 PM

GE POWER INDIA LTD share price has surged by 5% and its current market price is Rs 824. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index are GE POWER INDIA LTD (up 5.0%) and FINOLEX CABLES (up 9.9%). The top losers are SCHAEFFLER INDIA LTD (down 0.1%) and CG POWER & INDUSTRIAL SOLUTIONS LTD (down 0.1%).

INDIABULLS HOU. FIN. Plunges by 5%; BSE 500 Index Up 0.9% (Today's Market)

Oct 16, 2018 03:34 PM

INDIABULLS HOU. FIN. share price has plunged by 5% and its current market price is Rs 977. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 16.8%) and FINOLEX CABLES (up 9.9%). The top losers are INDIABULLS HOU. FIN. (down 5.0%) and TATA COMM. (down 5.6%).

FINOLEX CABLES Surges by 10%; BSE CAPITAL GOODS Index Up 1.3% (Today's Market)

Oct 16, 2018 03:22 PM

FINOLEX CABLES share price has surged by 10% and its current market price is Rs 532. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index is FINOLEX CABLES (up 10.3%). The top losers are CG POWER & INDUSTRIAL SOLUTIONS LTD (down 0.2%) and CARBORUNDUM UNIVERSAL (down 0.7%).

TATA ELXSI Surges by 5%; BSE IT Index Up 0.5% (Today's Market)

Oct 16, 2018 02:54 PM

TATA ELXSI share price has surged by 5% and its current market price is Rs 1,040. The BSE IT is up by 0.5%. The top gainers in the BSE IT Index is TATA ELXSI (up 5.2%). The top losers are INFOSYS LTD and HCL TECH.

CENTURY PLYBOARDS Surges by 12%; BSE 500 Index Up 0.9% (Today's Market)

Oct 16, 2018 02:46 PM

CENTURY PLYBOARDS share price has surged by 12% and its current market price is Rs 201. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are CENTURY PLYBOARDS (up 12.0%) and HEG LTD (up 10.5%). The top losers are COROMANDEL INTERN. and JSW STEEL .

Indian Indices Trade Strong; Capital Goods Stocks Lead Gains (Today's Market)

Oct 16, 2018 12:30 pm

The BSE Sensex is trading up by 198 points, while the NSE is trading up by 50 points.

View More Indian Share Market News

Most Popular

Don't Panic in This Falling Market... Do This Instead(The 5 Minute Wrapup)

Oct 5, 2018

Find companies with long term durable moats, which are correcting with the current broader market sell-off.

Why You Should Be Excited, Not Sad, About the 30% Small Cap Crash(Profit Hunter)

Oct 4, 2018

Smallcaps have corrected over 30% since the beginning of the year. Find out why Richa Agarwal views this as an opportunity rather than a threat.

Taxpayers to pay salaries of CEOs/CIOs of Mutual Funds(The Honest Truth)

Oct 5, 2018

Ajit Dayal on the crisis in the market and in the mutual fund industry.

Why Are Investors In Sundaram Small Cap Fund Anxious(Outside View)

Oct 3, 2018

A small cap fund that aims to capitalise on emerging businesses and catch them young. However, its failure in keeping volatility under check is making its investors anxious.

Biggest Corrections in the Stock of Infibeam Avenues(Chart Of The Day)

Oct 3, 2018

Infibeam plunged over 70% last week. This was the second biggest single-day fall. But Infibeam witnessed such sharp falls earlier.

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Oct 16, 2018 (Close)

MARKET STATS