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Sensex Ends Day in Red, HDFC Results, and Top Stocks in Action
Wed, 30 Jan Pre-Open

On Monday, share markets in India opened on a negative note and ended the day in red after an volatile day of trading.

The BSE Sensex closed lower by 64 points to end the day at 35,592. While the broader NSE Nifty ended down by 9 points, to end the day at 10,652 points.

Among BSE sectoral indices, capital goods stocks fell the most by 1%, followed by oil and gas stocks at 0.9%. Yes Bank and L&T were among the top losers.

Top Stocks in Action Today

Jet Airways and SBI share price will be in focus as SBI is all likely to own 15% of Jet Airways stake, as the airline looks to convert debt into equity.

As per the news, the stake of Naresh Goyal may fall below 20% from 51% post the fresh share issuance, while that of Etihad may go above 40% from 24% as it infuses money equity.

HDFC share price is likely to be in focus today as the mortgage lender reported a 60.1% year-on-year (YoY) drop in profit at Rs 21.1 billion for the quarter ended December 2018. The lender had reported Rs 53 billion profit in the year-ago quarter.

Most of the above underperformance came as the company had reported a one-time gain in the year-ago quarter. During December quarter of 2017, the company reported Rs 52.6 billion in profit on sale of investments.

FDI Grows 18% to Rs 28 Trillion

As per the data from the Reserve Bank of India (RBI), foreign direct investment (FDI) during the previous fiscal grew 18% to Rs 28.3 trillion.

FDI increased by Rs 4,333 billion, including revaluation of past investments, during 2017-18 to reach Rs 2,8246 billion in March 2018 at market value, according to RBI data on Census on Foreign Liabilities and Assets of Indian Direct Investment Companies, 2017-18.

The RBI said as many as 23,065 companies responded to the latest round of the census, of which, 20,732 firms had FDI or ODI in their balance sheet in March 2018.

Overseas direct investment (ODI) by Indian companies increased by 5% to Rs 5.3 trillion.

Speaking of FDI, India's manufacturing sector has been long seeking such stable long-term funds to accelerate capex plans and technological innovation.

The FDI into India exceeded that into China in 2018.

That is a testament of the fact that India's foreign investment policies and business environment are finally competing with that of its Oriental neighbour.

India aims to receive US$ 100 billion in foreign direct investment (FDI) in the next two to three years.

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