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Sensex Opens Lower; Realty and Power Stocks Under Pressure
Tue, 18 Feb 09:30 am | Rini Mehta, TM Team

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Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.4% while the Hang Seng is down 1.3%. The Nikkei 225 is trading down by 1.2%.

Back home, India share markets opened lower. The BSE Sensex is trading down by 135 points while the NSE Nifty is trading down by 61 points. The BSE Mid Cap index opened down by 0.5% while BSE Small Cap index opened down by 0.3%.

All sectoral indices have opened the day on a negative note with realty stocks and power stocks witnessing maximum selling pressure.

The rupee is currently trading at 71.41 against the US$.

The Indian rupee appreciated by 8 paise to settle at 71.29 against the US dollar on Monday, helped by some moderation global crude prices.

However, stronger US dollar against key rival currencies and subdued domestic equities kept the rupee's rise in check.

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At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the US dollar. During the session, it swung between a low of 71.48 and a high of 71.24.

Speaking of currencies, Vijay Bhambwani, editor of Weekly Cash Alerts, tells you the main reasons why not to trade commodities and currencies the same way you would trade equities. Here's an excerpt of what he wrote...

  • Currencies are traded in pairs and the most liquid is the USDINR. Currencies are traded in four decimal points just as bonds are. The international derivative trader's association has indicated that forex may be traded in 6 decimals in the coming few years.

    It takes months sometimes for the currency pair to pass the next round figure, say from 70 to 71.

    Can you really trade commodities and currencies alike or for that matter, equities and currencies alike? Definitely not!

To know more, you can read Vijay's entire article here: Is Trading in Equities, Commodities, and Currencies the Same?

Moving on to the news from IPO space. SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), has received markets regulator's go-ahead to float an initial public offering.

As per the draft papers, SBI Cards will offer up to 130.5 million equity shares through offer for sale route.

This will include up to 37.3 million share sale by SBI and up to 93.2 million shares on offer by Carlyle Group.

In addition, the company will also issue fresh equity shares of Rs 5 billion.

How this IPO sails through remains to be seen. Stay tuned for more updates from this space.

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 2019 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 the coming months.

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

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!

Read the latest Market Commentary


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Stock Market Updates

TTK PRESTIGE Surges by 17%; BSE CONSUMER DURABLES Index Up 1.7% (Today's Market)

Mar 31, 2020 03:33 PM

TTK PRESTIGE share price has surged by 17% and its current market price is Rs 5,154. The BSE CONSUMER DURABLES is up by 1.7%. The top gainers in the BSE CONSUMER DURABLES Index are TTK PRESTIGE (up 16.8%) and CROMPTON GREAVES CONSUMER ELEC. (up 10.4%). The top losers are TITAN (down 1.4%) and BAJAJ ELECTRICALS (down 1.8%).

KEC INTERNATIONAL Surges by 6%; BSE CAPITAL GOODS Index Up 1.3% (Today's Market)

Mar 31, 2020 03:33 PM

KEC INTERNATIONAL share price has surged by 6% and its current market price is Rs 187. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.6%) and HONEYWELL AUTOMATION (up 7.8%). The top losers are THERMAX (down 1.7%) and LAKSHMI MACHINE (down 1.7%).

HUL Surges by 5%; BSE FMCG Index Up 5.4% (Today's Market)

Mar 31, 2020 03:33 PM

HUL share price has surged by 5% and its current market price is Rs 2,312. The BSE FMCG is up by 5.4%. The top gainers in the BSE FMCG Index are HUL (up 5.2%) and GSK CONSUMER (up 5.9%). The top losers is JYOTHY LABS (down 2.9%).

YES BANK Plunges by 10%; BSE BANKEX Index Up 1.5% (Today's Market)

Mar 31, 2020 03:33 PM

YES BANK share price has plunged by 10% and its current market price is Rs 26. The BSE BANKEX is up by 1.5%. The top gainers in the BSE BANKEX Index are CITY UNION BANK (up 5.4%) and SBI (up 4.8%). The top losers are YES BANK (down 10.5%) and INDUSIND BANK (down 14.8%).

3M INDIA Surges by 10%; BSE 500 Index Up 3.4% (Today's Market)

Mar 31, 2020 03:33 PM

3M INDIA share price has surged by 10% and its current market price is Rs 19,301. The BSE 500 is up by 3.4%. The top gainers in the BSE 500 Index are 3M INDIA (up 10.4%) and TTK PRESTIGE (up 16.8%). The top losers are THE INDIAN HOTELS (down 0.1%) and FORTIS HEALTHCARE (down 0.1%).

Indian Indices Extend Gains; ONGC, ITC and Asian Paints Surge Over 5% (Today's Market)

Mar 31, 2020 12:30 pm

The BSE Sensex is trading up by 818 points, while the NSE Nifty is trading up by 257 points.

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