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Sensex Ends 134 Points Lower; Metal and Telecom Stocks Witness Selling
Tue, 22 Jan Closing | Monish Vora, TM Team

Indian share markets witnessed selling pressure throughout the day and ended marginally lower. Sectoral indices ended on a mixed note with stocks in the healthcare sector and realty sector witnessing buying interest while metal stocks and telecom stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood lower by 134 points (down 0.4%) and the NSE Nifty closed down by 39 points (down 0.4%). The BSE Mid Cap index ended the day down by 0.1% while the BSE Small Cap index ended the day down by 0.5%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 0.9% and the Shanghai Composite was down by 1.2%. The Nikkei 225 was down 0.5%.

The rupee was trading at 71.41 against the US$.

Note that while the markets are witnessing selling pressure lately, the SIP flows in to Indian stock markets are on the rise. Have a look at the chart below. It plots the month SIP contributions over the 31-month period between April 2016 and October 2018.

SIPs Continue to Rise Despite Market Correction

During the above period, SIP contributions have grown from Rs 3,122 crore in April 2016 to Rs 7,985 crore in October 2018, growing at compounded annual rate of 46%.

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As per an article in The Economic Times, the share of equity investments in India's household assets has reached a decade high following rising acceptance of mutual fund investments among retail investors.

Here's an excerpt from the article:

  • Data from RBI, AMFI, IRDA and MOSPI, compiled by CLSA, show that equity's share in the country's household assets increased to 4.6% in FY18, the highest since FY08. It had dropped to 2.2% in 2014 and has been gradually improving since then.

Currently, there are about 2.49 crore SIP accounts through which investors regularly invest in various Indian mutual fund schemes. As per AMFI data, the mutual fund industry added an average of about 10.05 lakh SIP accounts each month during the financial year 2018-19, with an average SIP size of about Rs 3,200 per SIP account.

Here's what Ankit wrote about it in one of the recent editions of The 5 Minute WrapUp...

  • As I've shown you some of my earlier editorials (here, here and here), there's a structural change in the Indian stock markets. Domestic investors have emerged as key players in the Indian markets.

    But there are a few questions that need to be answered...

    Is this flood of domestic liquidity entering the markets a temporary fad? Or is there some element of long-term sustainability to it?

    To answer these questions, the most reliable piece of data is SIP flows.

    First, let me quickly explain what SIP is all about.

    SIP stands for Systematic Investment Plan. It is an investment plan offered by mutual funds where in one can periodically invest a fixed amount in a mutual fund scheme. It is similar to a recurring deposit where in you deposit a certain amount every month.

    SIP is a convenient method of investing in mutual funds through standing instructions to debit your bank account every month.

    This not only saves you a lot of hassle, it also helps in averaging your costs and investing in a disciplined manner without worrying about timing the market.

    For these reasons, SIPs have been gaining popularity among Indian mutual fund investors.

    The liquidity pouring into the markets through SIPs is relatively stable, reliable, and long-term money.

If the trend in SIP inflows remains steady, it will provide the much-needed buoyancy to the Indian markets which have been witnessing an exodus of foreign investors.

In the news from the healthcare sector, Alembic pharma share price was in focus today on receiving approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Desvenlafaxine Extended-Release Tablets, 25 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), PRISTIQ Extended-Release Tablets, 25 mg of Wyeth Pharma. Desvenlafaxine Extended-Release Tablets, 25 mg are indicated for the treatment of major depressive disorder (MDD)

The company has also reported its net profit at Rs 1.4 billion for the quarter under review as compared to Rs 1.05 billion for the same quarter in the previous year.

Total income of the company increased by 20.2% at Rs 9.1 billion for Q3FY19 as compared Rs 7.6 billion for the corresponding quarter previous year.

Moving on to the news from the aviation space, InterGlobe Aviation share price witnessed buying interest today as the airline reported the Passenger Load Factor (PLF) of 88.9% during the month of December 2018.

The company had reported PLF of 84.9% during November 2018.

The PLF is a key indicator of the company's performance, as it measures the average % of seats filled on airline's aircraft fleet.

InterGlobe aviation share price ended the day up by 5%.

SpiceJet share price was also in focus as it reported PLF of 92.7% during the month of December 2018. The company had reported PLF of 91.1% during the month of November 2018.

In another news, Jet Airways has reported the Passenger Load Factor of 87.0% during the month of December 2018 against the PLF of 82.1% during the month of November 2018.

As per an article in a leading financial daily, Naresh Goyal, promoter of the debt-laden carrier Jet Airways, has agreed to step down from the restructured airline's board if Etihad Airways pays the 'right price' for increasing its stake in the airline.

Last week, Etihad had told Jet's lenders that it would buy the airline's shares at Rs 150 apiece.

According to the newspaper report, Etihad's offer price of Rs 150 per share is not in accordance with the markets regulator takeover guidelines.

The markets regulator has laid out norms for a takeover, which state that the open offer price must be the highest of the prices decided by four parameters.

The negotiated price between the buyer and the promoter, the average price of shares in the year before the takeover was announced, the highest price that the buyer paid in the 26 weeks before the takeover announcement and the average price of the 60 trading days before the takeover is announced.

Jet's woes have worsened with higher oil prices and intense competition in 2018.

This would be the second time that the West Asian airline has come to the debt-laden carrier's rescue.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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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Stock Market Updates

CENTRAL BANK Surges by 5%; BSE BANKEX Index Up 0.6% (Today's Market)

Feb 20, 2019 01:26 PM

CENTRAL BANK share price has surged by 5% and its current market price is Rs 30. The BSE BANKEX is up by 0.6%. The top gainers in the BSE BANKEX Index is CENTRAL BANK (up 5.1%). The top losers is INDUSIND BANK (down 0.1%).

PTC INDIA LTD Surges by 5%; BSE POWER Index Up 0.1% (Today's Market)

Feb 20, 2019 01:18 PM

PTC INDIA LTD share price has surged by 5% and its current market price is Rs 78. The BSE POWER is up by 0.1%. The top gainers in the BSE POWER Index is PTC INDIA LTD (up 5.3%). The top losers are NTPC and GMR INFRA (down 0.3%).

MINDA INDUSTRIES Surges by 11%; BSE 500 Index Up 0.6% (Today's Market)

Feb 20, 2019 01:16 PM

MINDA INDUSTRIES share price has surged by 11% and its current market price is Rs 319. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are MINDA INDUSTRIES (up 11.0%) and TEJAS NETWORKS LTD (up 13.5%). The top losers are HDFC STANDARD LIFE INSURANCE and ICICI PRUDENTIAL LIFE INSURANCE .

PAGE INDUSTRIES Plunges by 5%; BSE 500 Index Up 0.6% (Today's Market)

Feb 20, 2019 11:26 AM

PAGE INDUSTRIES share price has plunged by 5% and its current market price is Rs 21,771. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are TEJAS NETWORKS LTD (up 10.6%) and JINDAL STEEL & POWER (up 5.2%). The top losers are PAGE INDUSTRIES (down 5.0%) and KAVERI SEED (down 8.6%).

TEJAS NETWORKS LTD Surges by 11%; BSE 500 Index Up 0.7% (Today's Market)

Feb 20, 2019 10:58 AM

TEJAS NETWORKS LTD share price has surged by 11% and its current market price is Rs 142. The BSE 500 is up by 0.7%. The top gainers in the BSE 500 Index is TEJAS NETWORKS LTD (up 11.4%). The top losers are INDUSIND BANK and ASAHI INDIA (down 0.1%).

Sensex Opens Strong; Metal & Energy Stocks Lead (Today's Market)

Feb 20, 2019 09:30 am

Indian share markets open higher with Sensex up by 248 points, while the Nifty is trading up by 74 points.

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