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Indian Indices End on a Flat Note; Metal & Auto Stocks Outperform
Fri, 22 Feb Closing | Monish Vora, TM Team

Indian share markets traded range-bound throughout the day and ended their session on a flat note. Sectoral indices ended on a mixed note with stocks in the metal sector, realty sector and auto sector witnessing buying interest while banking stocks and finance stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood lower by 27 points and the NSE Nifty closed up by 2 points. The BSE Mid Cap index ended the day up by 0.4% and the BSE Small Cap index ended up by 0.8%.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 0.4% and the Shanghai Composite was down by 0.3%. The Nikkei 225 was up 0.2%.

The rupee is trading at 71.16 against the US$.

In the news from the commodity space, crude oil was witnessing selling pressure today.

Losses were seen after the United States reported its crude output hit a record 12 million barrels per day (bpd).

This data undermined the efforts made by Middle East dominated producer club Organization of the Petroleum Exporting Countries (OPEC) to withhold supply and tighten global markets.

From the engineering sector, BEML share price witnessed buying interest today after the company and US-based Lockheed Martin Aeronautics company signed a 'Certificate of Partnership'. The deal was signed at the ongoing AERO India 2019 in Bengaluru.

According to reports, the step opens up avenues for collaboration between the two companies to explore manufacturing of support equipment opportunities in aerospace.

BEML share price ended the day up by 4.4%.

To know more about the company, you can read BEML's latest result analysis and BEML Annual report analysis on our website.

Speaking of foreign players investing in India, many private equity funds have joined hands to increase their controlling stakes in Indian investments lately.

Here are some examples...

  • A joint venture between Brookfield Asset Management Inc. and State Bank of India for distressed assets.
  • The acquisition of a stake in Mankind Pharma by ChrysCapital, GIC and the Canada Pension Plan Investment Board.
  • Resurgent Power Ventures Pvt. Ltd, a platform created by Tata Power and ICICI Venture, raising capital from Kuwait Investment Authority and State General Reserve Fund of Oman.
India Focused Global Funds Raising Top Dollar

Here's what Tanushree Banerjee, co-head of Research at Equitymaster, wrote about this in one of the recent editions of The 5 Minute WrapUp...

  • Enticed by their long-term prospects, these funds are losing no time to enhance stake in their Indian investments.

    And this is possibly just the start.

    According to OECD, the 20 largest pension funds together hold about 43.2% of total global pension assets. Even if India receives a 5% allocation, it will mean a boom in the stock market.

    In last three years, these funds have consolidated because of stronger growth among the bigger pension players.

    These players are likely to focus on countries offering strong returns apart from relative safety, like India.

Moving on to the news from pharma sector, Dr Reddy's Laboratories share price was in focus today as the company said in a regulatory filing that the USFDA audit of its Formulations Shrevepmi Plant in Louisiana, USA, has been completed with zero observations.

In a different development the company yesterday also reported that it re-launched its Buprenorphine and Naloxone Sublingual Film in the US market after a favourable court ruling.

The re-launch comes on the heels of a favorable ruling in a patent litigation by the United States Court of Appeals for the Federal Circuit.

Reportedly, the Indian drug major had booked sales of around US$10-15 million days after its launch in July before it was stayed by the court.

To know more about the company, you can access to Dr. Reddy's Q3FY19 result analysis and Dr. Reddy's Stock Analysis on our website.

Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.

We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

And 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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Stock Market Updates

RELIANCE IND. at All Time High; BSE OIL & GAS Index Down 2.3% (Today's Market)

Mar 20, 2019 03:30 PM

RELIANCE IND. share price has hit an all time high at Rs 1,387 . The BSE OIL & GAS Index is down by 2.3%. Among the top gainers in the BSE OIL & GAS Index today are RELIANCE IND. and INDRAPRASTHA GAS (up 1.4%). The top losers include CASTROL INDIA (down 1.0%) and PETRONET LNG (down 1.1%).

IPCA LABS at All Time High; BSE HEALTHCARE Index Up 0.2% (Today's Market)

Mar 20, 2019 03:30 PM

IPCA LABS share price has hit an all time high at Rs 948 (up 2.2%). The BSE HEALTHCARE Index is up by 0.2%. Among the top gainers in the BSE HEALTHCARE Index today are IPCA LABS (up 2.2%) and PFIZER (up 0.9%). The top losers include BIOCON and CIPLA .

ORIENTAL BANK at 52 Week High; BSE 500 Index Down 0.1 % (Today's Market)

Mar 20, 2019 03:30 PM

ORIENTAL BANK share price has hit a 52-week high. It is presently trading at Rs 108. BSE 500 Index is down by 0.1% at 15,193. Within the BSE 500, ORIENTAL BANK (up 3.0%) and SPICEJET (up 17.6%) are among the top gainers, while top losers are JUBILANT LIFE SCIENCES and HPCL.

DILIP BUILDCON LTD Plunges by 5%; BSE CAPITAL GOODS Index Up 0.6% (Today's Market)

Mar 20, 2019 03:26 PM

DILIP BUILDCON LTD share price has plunged by 5% and its current market price is Rs 711. The BSE CAPITAL GOODS is up by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are SADBHAV ENGINEERING (up 4.3%) and SKF INDIA (up 1.8%). The top losers is DILIP BUILDCON LTD (down 5.1%)..

The BSE OIL & GAS Index Down 2% ; HPCL Among Top Losers (Today's Market)

Mar 20, 2019 03:20 PM

The BSE OIL & GAS Index Down at 15,367 (down 2.1%). Among the top losers in the BSE OIL & GAS Index today are HPCL, BPCL and OIL INDIA. Meanwhile, the BSE Sensex has surged 0.1% to 38,490.

Indian Indices Turn Volatile; Realty & IT Stocks Gain (Today's Market)

Mar 20, 2019 12:30 pm

Indian share markets are trading on a flat note with the BSE Sensex up by 7 points while NSE Nifty is trading lower by 13 points.

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