Indian Indices Trade Near the Dotted Line; Realty Stocks Witness Selling

Mon, 13 Feb 11:30 am

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After opening the day on a flat note, the Indian share markets witnessed choppy trades and have continued to trade near the dotted line. Sectoral indices are trading on a mixed note with stocks in the realty sector and consumer durables sector witnessing maximum selling pressure. Stocks in the metal sector and banking sector are trading in the green.

The BSE Sensex is trading up 5 points (up 0.03%) and the NSE Nifty is trading up 4 points (up 0.04%). The BSE Mid Cap index is trading flat, while the BSE Small Cap index is trading down by 0.2%. The rupee is trading at 66.96 to the US$.

Indian stock markets are trading on a volatile note on the back of December quarter result announcements by Indian companies. As per an article in the Economic Times, as many as 677 listed companies are set to declare their December quarter results today. The list includes Hindalco Industries, Reliance Infra, CONCORD, Nalco, Petronet LNG, Allahabad Bank etc. among others.

The effect of the above result announcements would be seen on Indian markets today.

You see, estimates and even the actual corporate earnings every quarter tend to have a major influence on investor sentiments. The company's under or outperformance is immediately reflected in market movements. And these announcements put market participants and stock markets into a frenzy.

But as usual, we recommend that you, the intelligent investor, remain focused on the value and comfort of the safest stocks.

In the news from global markets, US Federal Reserve Vice-Chair Stanley Fischer said there has been a significant uncertainty about fiscal policy under the Trump administration. However, he said that the Fed would be strict in meeting targets of creating full employment and getting inflation to 2%.

Last week, the Federal Reserve released the minutes from its January policy review. As per the minutes, economic activity in the US is expanding at a moderate pace. The labour market continued to strengthen, job gains were solid, and the unemployment rate stayed near its recent low. Also, inflation increased in recent quarters but was still below the Feds' target rate of 2%.

The next Federal Open Market Committee (FOMC) meet is scheduled on March 14-15. The FOMC still envisions a gradual pace of rate increases but is unsure regarding the uncertainty surrounding the Trump administration.

The recent move by the Trump administration were the immigration restrictions. The move has got opposition from some of technology intensive companies. These companies have argued that Trump's temporary ban on all visitors from seven predominantly Muslim countries would hurt their businesses.

Many Indian IT companies are also feeling the brunt of the above immigration ban. Large Indian IT companies, on an average generate more than 50% of their revenues from the US clients. They have built a strong client base over the years in the US market. If the suggested changes for immigration get cleared, the cost component for the Indian IT companies will go up. The need to reduce their US exposure and move to other geographies is a given.

Will Trump Mania Impact IT Companies Revenues from US?

However, we believe that it is unlikely that the companies will substantially bring down their focus on the US. Instead companies may look out for other means to reduce costs or protect margins.

That said, Indian IT companies will also need to rise to Trump's challenges. But fortunately, most were already gearing up for this. Trump may have only accelerated their initiatives.

So as long as you aren't worried about the revenue guidance in the coming quarters, you need to do just one thing: Stay vigil on valuations.

And you never know, the Trump crash may be an opportunity to act on not just IT but lots of other safe stocks as well.

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

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