Sensex Ends 665 Points Higher; IT and Energy Stocks Witness Buying

Thu, 31 Jan Closing

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Indian share markets continued their momentum during closing hours and ended the day on a strong note. Gains were largely seen in the IT sector and energy sector.

At the closing bell, the BSE Sensex stood higher by 665 points (up 1.9%) and the NSE Nifty closed higher by 179 points (up 1.7%). The BSE Mid Cap index closed up by 0.4%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 1.1% and the Nikkei was trading up by 1%. The Shanghai Composite stood higher by 0.4%.

European markets were also trading on a positive note. The FTSE 100 was up by 0.5%. The DAX was up by 0.1% while the CAC 40 was up by 0.3%.

The rupee was trading at 71.13 to the US$ at the time of writing.

While stock markets witnessed buying interest today, volatility in the markets has been on a constant rise lately.

But there's an interesting trend seen in regard to retail investors this time.

Till date in FY18-19, foreign investors have pulled out around Rs 515 billion from the Indian equity market.

In the past, such panic would have meant the domestic investor would have followed suit.

That hasn't happened this time.

Domestic investors have shown surprising resiliency to the market's volatility.

Here's what Tanushree Banerjee wrote about this in today's edition of The 5 Minute Wrap Up...

• The month-wise SIP in FY18-19 has seen a constant rise.
  
  Also, close to 1 million new SIP accounts have been added during FY18-19 according to AMFI.
  
  The days of knee-jerk panic withdrawals by individual investors are slowly but surely reducing. If they ride out this volatility they will see the benefit of the cycle turning in their favor.

Rising Retail Particpation Even In A Falling Market

This trend will mark a significant change in the mindset of the retail investor for the long term.

From the results corner, market participants were tracking Bharti Airtel share price, SBI share price, Vedanta share price and Hero MotoCorp share price as these companies announced their December quarter results today.

You can also read our recently released Q3FY19 results: Reliance Industries, Federal Bank, Infosys, TCS, Trident, HDFC bank, Maruti Suzuki, DHFL, Gruh Finance.

Most of the Asian stock markets traded on a positive note in the morning trade today following gains in the US stock markets as the US Federal Reserve left interest rates unchanged.

Regarding the future outlook, the Fed noted that it would be patient with further rate hikes.

In an unusual separate statement, the Fed also said it was prepared to change the pace of reduction of its massive securities holdings, after markets became concerned that the current process was too rigid.

The language used in the FOMC statement, keeping the benchmark interest rate in a range of 2.25% to 2.5%, reflected the increasing sense that the US economy may have peaked.

Note that the past decade has seen Fed rates at historical lows, but it wasn't always the case.

The period from 2003-2006 saw Fed rates increase from 1% to 5.25%.

And how did the Indian stock market fare during this period?

The Sensex went up by almost 3 times from 3,500 to more than 10,000 during this period.

The rise was supported by strong earnings growth during the same period.

This emphasizes the importance of fundamentals in the long run.

Look out for quality stocks with a history of strong earnings growth and sound fundamentals.

The noise surrounding the decisions of the US Fed might just present the right opportunity for you to buy safe stocks.

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

In the news from the IPO space, the initial public offering (IPO) of Chalet Hotels Ltd was fully subscribed today - it's last day of the bidding process.

The issue received demand for a total of 1,48,96,763 shares against an issue size of 4,13,26,672 shares.

Chalet Hotels is an owner, developer and asset manager of high-end hotels in key metro cities in India. Its hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of 31 March 2018.

The company generally develops its hotels in strategic, high density locations on large land parcels, allowing it to situate a greater number of rooms, as well as provide a wide range of amenities, such as, fine dining and specialty restaurants, large banquet and outdoor spaces.

The company's hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments.

To know our view on the IPO of Chalet Hotels Ltd, you can read our entire IPO analysis here (subscription required).

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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