Sensex Ends 164 Points Lower; Realty and Auto Stocks Witness Selling

Fri, 7 Feb Closing

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

At the closing bell, the BSE Sensex stood lower by 164 points (down 0.4%) and the NSE Nifty stood down by 51 points (down 0.4%).

The BSE Mid Cap index ended the day up 0.4%, while the BSE Small Cap index stood up by 0.8%.

Stocks in the realty sector and auto sector witnessed huge selling pressure, while healthcare stocks were trading in the green.

The rupee was trading at 71.42 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.33% and the Shanghai Composite was up by 0.33%. The Nikkei 225 was down 0.19%.

European markets were trading on a negative note. The FTSE 100 was down by 0.47%. The DAX was trading down by 0.40%, while the CAC 40 stood down 0.16%.

Speaking of the current stock market scenario, while everyone out there is buzzing about the Union Budget and what it has in store for the stock markets, our analysts at Equitymaster are singing a different tune.

They are encouraging readers to look beyond the short-term blip that the Budget will bring and focus on the long-term trend that will rule the market.

Vijay Bhambwani, editor of Fast Profits Daily, has recorded his views on the market post the union budget in his latest video. You can access the same here: My Outlook for Traders After the Budget

As per Rahul Shah, a meaningful fall in the market is an opportunity to buy the long-term India story at a marked down price. And it should be seen as a boon and not a bane.

Already, the broader market valuation is looking a lot more attractive than it did a few weeks back.

Some more knee jerk reaction by the stock market and it could turn out to be one the biggest buying opportunities in years.

Also, the smallcap index is rebounding.

As per our smallcap analyst Richa Agrawal, you can find a lot of great buying opportunities in the smallcap space and this is a great time to be invested in smallcaps.

However, she also points out that not everything you touch will turn into gold. You should be very careful and selective in picking the most solid and promising smallcap stocks.

In the video below she talks about the ongoing economic slowdown, an upcoming rebound in the small cap space, and her number 1 stock pick for 2020.

Tune in to know more...

Market participants were tracking Tata Steel share price, Symphony share price, and ACC share price as these companies announced their December quarter results today.

In news from the automobile sector, Hero MotoCorp share price was in focus today as the company reported 14% year-on-year (YoY) rise in its standalone profit at Rs 8.8 billion for the third quarter ended December 30, 2019.

The company's revenue from operations for the quarter stood at Rs 69.9 billion as compared to Rs 78.6 billion in Q3FY19.

On consolidated basis, the company's revenue and PAT stood at Rs 70.7 billion and Rs 9.1 billion, respectively for the quarter.

The Hero MotoCorp board also announced an interim dividend of Rs 65 per share.

In a filing to the bourses, Hero MotoCorp stated that it launched India's first BS-VI motorcycle Splendor iSmart in Q3 FY20, followed by the first BS-VI motorcycle in the entry segment-the HF-Deluxe.

Moving on to the news from the IPO space, State Bank of India (SBI) Chairman Rajnish Kumar said the SBI Card IPO is most likely to become available for subscription in the current quarter (Q4FY20).

SBI Cards IPO is one of the two IPOs that SBI is coming within the year 2020. Other SBI IPO that is coming this year is UTI AMC. The SBI Card has already submitted its applications with the Indian stock market regulator.

The market regulator has held back from giving its observation on the draft prospectus of SBI Cards and Payment Services and that has resulted in an inadvertent delay in the IPO launch.

The offer document was filed with the regulator in November, and the company completed its global roadshows by early January, expecting to hit the market the same month.

How this issue pans out remains to be seen.

Meanwhile, we will keep you updated on all the news regarding this IPO. Stay tuned.

Speaking of IPOs, in one of the editions of The 5 Minute WrapUp, Ankit Shah shared how IPOs offer insights into the mood of the stock markets.

He picked the six most successful IPOs of the year and checked the retail investor enthusiasm for them.

Obviously, all these IPOs were oversubscribed across investor categories. But the level of retail investor enthusiasm differed widely, depending on the overall market sentiments. This can be seen in the chart below:

Are Retail Investors Back in the IPO Game?

Here's what Ankit wrote about it...

• Clearly, IRCTC witnessed the highest number of bids for the retail category. Factoring in the discount of Rs 10 per share for the retail category, the total bids were worth a whopping Rs 3,242 crore. Over five times the entire IPO size!
  
  Polycab India and the recent IPO of CSB Bank also received a strong thumbs-up from retail investors.

Does this hint that retail investors are coming back to the markets? Could we witness of flurry of IPOs in the coming months?

It would be interesting to see how this trend pans out in 2020.

Ankit keeps a tab on all the IPOs at his premium newsletter Equitymaster Insider (requires subscription).

He's closely watching IPOs in 2020 and is going to pick all the profitable ones 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).

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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