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Sensex Ends 208 Points Lower; Oil & Gas and Metal Stocks Witness Selling
Wed, 22 Jan Closing | Monish Vora, TM Team

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India share markets continued to witness selling pressure during closing hours and ended their day on a negative note.

At the closing bell, the BSE Sensex stood lower by 208 points (down 0.5%) and the NSE Nifty stood down by 62 points (down 0.5%).

The BSE Mid Cap index ended the day down 0.3%, while the BSE Small Cap index stood down by 0.1%.

Stocks in the metal sector and oil & gas sector witnessed huge selling pressure, while IT stocks were trading in the green.

The rupee was trading at 71.22 against the US$.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 1.27% and the Shanghai Composite was up by 0.28%. The Nikkei 225 was up 0.70%.

European markets were trading on a mixed note. The FTSE 100 was up by 0.17%. The DAX was trading up by 0.08%, while the CAC 40 stood down 0.01%.

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Speaking of the Indian share markets, earnings and upcoming budget would play a critical role in shaping the investment trend.

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In news from the finance sector, HDFC Asset Management Company share price was in focus today as the company reported a 45% year-on-year (YoY) jump in profit after tax (PAT) at Rs 3.5 billion for the three months ended December 31, 2019.

In comparison, the company had a posted a PAT of Rs 2.4 billion in the year-ago period.

The company's total income rose 11% to Rs 5.9 billion in the October-December quarter of the current fiscal from Rs 5.3 billion in the same period last financial year.

The total asset managed by the fund house increased by 14% to Rs 3,825 billion at the end of December, 2019 from Rs 3,350 billion in the end of December, 2018.

The average assets under management (AUM) of actively managed equity funds stood at Rs 1.66 lakh crore as on December 2019 with a market share of 15.8%. This excluded arbitrage and index funds.

Speaking of finance sector and asset management, the Indian mutual fund industry is a high growth sector.

The assets under management (AUM) of mutual funds in India grew at a compounded annual growth rate (CAGR) of 17.4% from Rs 1.1 trillion in March 2000 to Rs 23.8 trillion in March 2019.

In fact, the growth rate over the last five years has been even higher. The chart below shows the trend in mutual fund AUMs since FY14.

Mutual Fund AUM Tripled in Just 5 years

Over the last five years, mutual fund AUMs have nearly tripled, growing at 23.5% CAGR.

Recently, NSE-backed Computer Age Management Services (CAMS) filed a draft red herring prospectus with the market regulator. CAMS is the largest registrar and transfer agent (RTA) for mutual funds in India.

Being the largest registrar and transfer agent for mutual funds, CAMS is a direct beneficiary of the twin megatrends of financialisation and digitalisation.

Ankit is closely tracking this IPO and will be sharing his views at his premium newsletter Equitymaster Insider (requires subscription).

He's also closely watching the IPO trend in 2020 and is going to pick all the profitable IPOs for his readers at Equitymaster Insider. In one of his recent articles, he has explained why keeping a tab on the IPO market is vital to your overall investing goals. You can read it here: What I Learnt from IPOs in 2019 (requires subscription).

Moving on to news from the paints sector, Asian Paints share price was in focus today as the paints maker reported an in-line net profit growth of 20.2% YoY at Rs 7.4 billion for the third quarter ending December 31, 2019. The company said while benign raw material prices worked in its favour, economic slowdown hurt volume growth.

Consolidated revenue from operations, which included accounts of subsidiaries and associates, rose 3% to Rs 54.2 billion from Rs 526.3 billion in the same quarter a year ago.

The decorative business segment in India registered a low double-digit volume growth, impacted by the slowdown in economy. The management said that automotive coatings JV (PPG-AP) business continued to be impacted by the downturn in the automobile industry while the Industrial Coatings JV (AP-PPG) business saw some demand pick-up in the Protective Coatings segment and benign raw material prices benefited the entire coatings business.

International operations performance for the company during the quarter was impacted by challenging business conditions in some key units in GCC and Sri Lanka.

Both the segments in the Home Improvement category - kitchen and bath business - continue to be impacted by the slowdown in the real estate construction space.

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!

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Stock Market Updates

COAL INDIA Plunges by 5%; BSE 500 Index Down 0.4% (Today's Market)

Jan 22, 2020 03:22 PM

COAL INDIA share price has plunged by 5% and its current market price is Rs 199. The BSE 500 is down by 0.4%. The top gainers in the BSE 500 Index are ZEE ENTERTAINMENT (up 7.0%) and GRANULES INDIA (up 6.6%). The top losers are COAL INDIA (down 5.1%) and OIL INDIA (down 5.7%).

ONGC Plunges by 5%; BSE OIL & GAS Index Down 1.4% (Today's Market)

Jan 22, 2020 03:12 PM

ONGC share price has plunged by 5% and its current market price is Rs 123. The BSE OIL & GAS is down by 1.4%. The top gainers in the BSE OIL & GAS Index are INDRAPRASTHA GAS (up 0.1%) and RELIANCE IND. (up 0.1%). The top losers are ONGC (down 5.1%) and OIL INDIA (down 5.4%).

SHEELA FOAM LTD at 52 Week High; BSE 500 Index Down 0.4 % (Today's Market)

Jan 22, 2020 02:52 PM

SHEELA FOAM LTD share price has hit a 52-week high. It is presently trading at Rs 1,454. BSE 500 Index is down by 0.4% at 15,932. Within the BSE 500, SHEELA FOAM LTD (up 3.9%) and PRISM JOHNSON (up 6.9%) are among the top gainers, while top losers are TEJAS NETWORKS LTD and VODAFONE IDEA.

JINDAL SAW LTD Surges by 5%; BSE METAL Index Down 1.3% (Today's Market)

Jan 22, 2020 02:44 PM

JINDAL SAW LTD share price has surged by 5% and its current market price is Rs 99. The BSE METAL is down by 1.3%. The top gainers in the BSE METAL Index is JINDAL SAW LTD (up 5.0%). The top losers are HINDALCO (down 0.4%) and JSW STEEL (down 0.6%).

JOHNSON CONTROLS - HITACHI AC at 52 Week High; BSE 500 Index Down 0.2 % (Today's Market)

Jan 22, 2020 01:58 PM

JOHNSON CONTROLS - HITACHI AC share price has hit a 52-week high. It is presently trading at Rs 2,180. BSE 500 Index is down by 0.2% at 15,932. Within the BSE 500, JOHNSON CONTROLS - HITACHI AC (up 3.5%) and PRISM JOHNSON (up 7.6%) are among the top gainers, while top losers are TEJAS NETWORKS LTD and OIL INDIA.

Indian Indices Erase Gains; Banking and Power Stocks Under Pressure (Today's Market)

Jan 22, 2020 12:30 pm

The BSE Sensex is trading down by 154 points, while the NSE Nifty is trading down by 41 points.

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Jan 22, 2020 03:37 PM