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5 Factors Why Stock Markets Crashed, Barbeque Nation Hospitality IPO, and Buzzing Stocks Today

Fri, 26 Mar Pre-Open

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Indian share markets ended deep in the red yesterday.

Benchmark indices registered sharp losses tracking nervousness in Chinese stock market coupled with a steep rise in the daily Covid-19 infections.

At the closing bell yesterday, the BSE Sensex stood lower by 740 points (down 1.5%).

Meanwhile, the NSE Nifty ended down by 225 points (down 1.5%).

Maruti Suzuki and Bharti Airtel were among the top losers.

The BSE Mid cap index and the BSE Small cap index ended down by 2.2% and 1.9%, respectively.

On the sectoral front, telecom stocks, auto stocks and power stocks were among the hardest hit.

Gold prices for the latest contract on MCX were trading down by 0.3% at Rs 44,730 per 10 grams at the time of closing stock market hours yesterday.

Note that the recent volatility in stock markets has added to the worries of investors and traders alike.

The market is certainly overheated but will it crash anytime soon?

If so then when can we expect it? What will be the scale and duration of such a crash?

Vijay Bhambwani answers these questions in one of his videos for Fast Profits Daily.

Tune in to know more...

Why Indian Stock Markets Were Down Yesterday

Rising Covid-19 Cases: A sharp rise in Covid-19 cases are posing a serious threat to the economic recovery of the world.

India recorded 47,262 fresh Covid-19 cases in a day, the highest single-day rise so far this year, taking the nationwide tally to 1,17,34,058, the Union Health Ministry said on Wednesday. It also said a new "double mutant" variant of Covid-19 was detected in Delhi, Maharashtra and some other places.

Note that India has recorded the most number of cases after the United States and Brazil. Total deaths have shot up to 160,441 in India.

Weak Global Cues: Asian stock markets witnessed selling yesterday amid reports of lockdowns in Europe and a potential tax hike in the US.

European stock markets also inched lower as investors swapped energy and retail stocks with shares of companies seen as safer during heightened economic uncertainty following a new round of coronavirus restrictions in the euro zone.

Rising Dollar: The dollar hit a fresh four-month high to the euro yesterday amid worries about Europe's third Covid-19 wave and potential US tax hikes.

FII Outflows: Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 19.5 billion.

Profit Booking: Apart from the above, losses were also seen as share market succumbed to profit-booking.

Most of the profit-booking was seen in the auto and telecom sector with stocks such as Maruti Suzuki and Bharti Airtel dragging the benchmark index lower.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

Top Stocks in Focus Today

Vakrangee share price will be among the top buzzing stocks today. The company has entered into a partnership agreement with TransUnion CIBIL (TUCIBIL) to drive financial inclusion by providing easy access to the CIBIL score and report to consumers through the Nextgen Vakrangee Kendra network.

Jubilant Foodworks share price will also be in focus today as the food services company has announced to introduce American multinational chain of fried chicken fast food restaurants 'Popeyes', to India.

Market participants will also track Wabco India share price.

Shares of Wabco India slumped as much as 10% yesterday, following the promoter's two days stake sale through offer-for-sale (OFS) route.

The floor price has been fixed at Rs 5,450 a share, an 11% discount to Wednesday's closing price of Rs 6,102 apiece on the BSE.

The issue opened on Thursday for non-retail investors and will open today for retail investors.

RBI Signals More Focus on Digital Lenders, Fintech Companies

Digital players will increasingly have a critical role across the banking sector in India, which is emerging as Asia's financial technology (FinTech) hub, RBI Governor Shaktikanta Das said on March 25.

The governor's comments signal increased focus on digital lending and fintech industry by the regulator.

Speaking at the at the Times Network India Economic Conclave 2021 in New Delhi, Das projected India's FinTech market to grow to Rs 6.2 trillion in by 2025 from Rs1.9 trillion in 2019.

"FinTech is expected to challenge the financial sector with innovations and its exponential growth. Harnessing FinTech for customer services will effectively control costs and expand the banking and nonbanking businesses," Das said.

The increased use of digital payments induced by the pandemic can fuel a rise in digital lending in the current decade, he said.

Das cited the example of Unified Payments Interface (UPI) which took three years from 2017 to reach a monthly count of 1 billion transactions, but doubled to 2 billion a month in a short span of another year.

We will keep you updated on the latest news from this space. Stay tuned.

Fundraising via IPOs at 13-Year High

In news from the IPO space...

Fundraising via IPOs is at a 13-year high as a flood of foreign money and unprecedented interest from investors spur more listings, making India one of the hottest IPO markets in 2021.

As per a leading financial daily, companies have raised US$ 2.2 billion through initial public offerings (IPOs) so far this year, the highest amount since 2008. That follows US$ 9.2 billion last year, the third-biggest behind the United States and China, thanks to a flurry of listings in late 2020.

Record levels of participation from Indian individual investors, particularly in public listings, has also propped up IPOs.

New investors, as measured by demat investor accounts, reached a record 51.5 million in January, rising by roughly 1 million every month from the 39.5 million in January 2020, according to data from the markets regulator.

In other news, the IPO of Barbeque Nation Hospitality, a casual dining restaurant chain, has been subscribed 1.81 times on March 25, the second day of bidding.

Investors put in bids for 9 million equity shares against the offer size of 5 million equity shares, data available on exchanges show.

The portion set aside for qualified institutional buyers (QIB) has subscribed 37% and that of non-institutional investors (NII) 9%. Retail investors have put in bids 8.74 than their reserved portion and employees portion was booked 54%.

The company has fixed a price band of Rs 498-500 per share for its initial share sale.

The initial public offer (IPO) comprises a fresh issue of shares worth Rs 1.8 billion and an OFS of up to 54,57,470 equity shares.

At the upper end of the price band, the IPO is expected to fetch Rs 4.5 billion.

The company has already raised Rs 1.5 billion through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.

How this IPO sails through remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

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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