Sensex Opens Flat; HDFC Bank & ONGC Top Gainers

Mon, 22 Feb 09:30 am

   Pre-Open   

   Momentum Moves   

   SGX Nifty   

   12:30 pm   

   Closing   

Asian stock markets inched higher today as expectations for faster economic growth and inflation globally boosted bonds and commodities.

The Nikkei is trading higher by 0.6% and the Hang Seng is trading down by 0.5%.

In US stock markets, Wall Street indices came under pressure on Friday, reversing early gains.

A combination of rising interest rates and profit taking in some of the market's largest technology companies appeared to dampen optimism.

The Dow Jones Industrial Average finished the day on a flat note after climbing more than 150 points earlier in the session. The S&P 500 finished down 0.2% while the Nasdaq Composite gained 9 points to end 0.1% higher.

For the week, the Nasdaq shed 1.6% while the Dow gained 0.1%.

Back home, Indian share markets have opened on a flat note, following the trend on SGX Nifty.

The BSE Sensex is trading up by 36 points. Meanwhile, the NSE Nifty is trading higher by 11 points.

HDFC Bank is among the top gainers today. L&T, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.1%. The BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a mixed note with stocks in the metal sector and telecom sector witnessing buying interest. Automobile stocks are trading in red.

The rupee is trading at 72.56 against the US$.

Gold prices are trading up by 0.2% at Rs 46,270 per 10 grams.

Gold prices edged higher today to recover from an over seven-month low touched in the previous session as the dollar weakened, although higher US Treasury yields capped bullion gains.

Speaking of stock markets, in the latest episode of Investor Hour Podcast, ace trader Brijesh Bhatia talks about the best investments of 2021 and his profitable trading system.

In the episode, Brijesh spoke about the best investments of the year and also shared his views on the Nifty, gold, silver, bitcoin, his top trading themes for 2021 and much more.

You can watch the entire episode here:

In news from the FMCG sector, Marico is among the top buzzing stocks today.

Consumer goods major Marico on Friday said that it has entered the Rs 40-billion instant noodles category in India, launching a new line of products under its Saffola brand.

The entry is the first significant step by a key fast-moving consumer goods company in six years since the Maggi controversy happened.

Instant noodles will be retailed on the company's own direct-to-consumer platform Saffola stores, apart from online platforms such as Amazon, BigBasket, Grofers, and Flipkart. It could be pushed into offline stores in the future.

The above move comes six months after Marico stepped into honey, a Rs 15-billion category dominated by players such as Dabur.

However, reports state that Marico is likely to face a challenge in creating salience in the oligopolistic instant noodles market. It will demand focused investment in brand-building that may or may not help gain market share from the established brands in the category.

Instant noodles in India has Nestle's Maggi with an estimated market share of 60%, while ITC's Sunfeast Yippee noodles is estimated to have a share of 22%.

In a conversation with Business Standard, Marico's MD and CEO, Saugata Gupta, had said that people were opting for trusted brands, which was aiding the growth of Saffola and its extensions.

He added that, "we are confident that we should be able to garner more market share, even as the category expands. Honey should get into a Rs 1-billion run rate by next year, "he said.

Marico share price has opened the day up by 1.3%.

Speaking of the FMCG sector, have a look at the chart below which shows the performance of BSE Sensex and BSE FMCG index since 2009:

While the Sensex has offered 393% returns since 2009, the BSE FMCG index has gone up a staggering 532% returns over the same period.

Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes this outperformance could continue for many years.

With a rising population and standards of living, Indian's consumption demand for FMCG products will skyrocket over the coming years.

Also speaking of the FMCG sector, in the latest Momentum Moves video, Brijesh Bhatia talks about the Nifty FMCG index.

As per Brijesh, the FMCG index is at do-or-die levels. Bulls need to power-up and protect the zone of 32,600-33,000.

Tune in to the video below to find out more:

Moving on to news from the automobile sector, amid skyrocketing prices of petrol and diesel, Maruti Suzuki is looking to cash in on the accelerated demand for its CNG vehicles, expecting nearly 50% growth in the ongoing fiscal year, according to a senior company official.

The company, which offers CNG options in eight models out of total 14 available in the Indian market, is also actively working to expand the portfolio.

"This year CNG (vehicles) in the industry has grown almost 37% at a time when the overall growth is negative (18% decline) in April-January period. It means CNG is growing very well," Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava said.

Explaining why the demand for CNG vehicles has gone up, he said as the prices of petrol and diesel as a fuel have gone up dramatically, the running costs have also increased.

Another reason for the rise in demand for CNG vehicles is the increase in the number of cities under CNG stations network, he said adding four years ago, the number of CNG stations in India was 1,200, which has doubled to 2,400 at present.

Moreover, Finance Minister Nirmala Sitharaman has said in the Budget that the government would increase it to 100 more cities. In March 2022, it is expected that there will be almost 375 cities covered, he noted.

Maruti Suzuki share price has opened the day down by 0.7%.

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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