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Sensex Ends 154 Points Lower, Nifty Ends at 14,834; Bajaj Finance and UPL Among Top Losers
Fri, 9 Apr Closing | Ayesha Shetty, TM Team

Indian share markets witnessed volatile trading activity throughout the day today and ended marginally lower.

At the closing bell, the BSE Sensex stood lower by 154 points (down by 0.3%).

Meanwhile, the NSE Nifty closed lower by 39 points (down by 0.3%).

Cipla and Sun Pharma were among the top gainers today.

Bajaj Finance and UPL, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,877, down by 47 points, at the time of writing.

The BSE Mid Cap index ended lower by 0.1%, while the BSE Small Cap index ended higher by 0.7%.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and IT sector witnessing most of the buying interest.

Shares of Cipla and Tata Elxsi hit their respective 52-week highs today.

SREI Infrastructure Finance and JSW Steel were among the top buzzing stocks today.

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Asian stock markets ended on a mixed note today, tracking mixed global cues.

The Nikkei ended higher by 0.3%, while the Hang Seng and the Shanghai Composite ended lower by 1.1% and 0.9%, respectively.

US stock futures are trading on a positive note today with the Dow Jones Futures trading up by 68 points.

The rupee is trading at 74.73 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.5% today at Rs 46,628 per 10 grams.

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Moving on to the news from IPO space...

Shrem Group to Raise Rs 6 Billion Via Infrastructure Investment Trust (InvIT)

Mumbai-based road and infrastructure operator, Shrem Group is all set to raise Rs 6 billion through an Infrastructure Investment Trust (InvIT).

The initial public offering (IPO) will be a fresh issue of 60 million units at Rs 100 each and the firm will use the proceeds to pay its debt.

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The company's CEO and MD, Nitan Chhatwal said that the issue will comprise about 15% of the total units held by the trust. They are expecting to get the stock market regulator's approval this week, following which they will be launching the IPO. The IPO is expected to hit the market this month for subscription.

At present, the enterprise value of Shrem InvIT is expected to be Rs 71 billion with a debt of Rs 34.5 billion and equity of Rs 36.5 billion.

Going forward the company is also planning to raise around Rs 34 billion from State Bank of India at a rate in the range of 7-7.4% with 15-year maturity as it seeks to repay existing high-cost debt.

This will be the first InvIT offering with hybrid annuity model (HAM) road projects. The company aims to double its road projects in the next three years with HAM-based projects being the prime focus area.

The government annuity payments will comprise 85% of the InvIT's revenues and the remaining 15% will come from toll collection.

Back in 2017 and 2018, the company acquired 24 projects from Dilip Buildcoin. Those road projects totalling 6,442.4 lane kilometers are spread across Maharashtra, Madhya Pradesh, Gujarat, Uttar Pradesh and Karnataka.

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

Moving on to news from the mutual funds space...

Equity mutual funds attracted net inflows after nine months in March 2021.

According to figures released by the Association of Mutual Funds in India (AMFI), mutual funds turned net buyers last month as investors pumped in Rs 91.1 billion into equity and equity-linked schemes in March 2021 as compared with an outflow of Rs 45.3 billion in February 2021.

Sectoral funds and equity-linked saving schemes (ELSS) popularly known as tax-saving mutual funds received inflows of Rs 20 billion and Rs 15.5 billion, respectively. Equity funds saw the highest inflows in these categories in March.

Inflows in ELSS were on expected lines, as towards the end of financial year, many individuals prefer to invest in them to save tax.

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Investors also strengthened their confidence in systematic investment plans (SIPs). SIPs contribution went up to Rs 91.8 billion in March 2021 as compared to Rs 75.2 billion in February 2021. The number of SIP accounts outstanding increased to 37.2 million in March compared to 36.2 million in February.

Hybrid funds saw net inflows of Rs 62.1 billion in March compared to Rs 47 billion in February. Note that hybrid funds invest in varying mix of stocks, bond and gold as per mandate of the scheme.

The recent decline in gold prices have attracted investors to gold exchange traded funds (ETFs). These schemes saw net investments of Rs 6.6 billion in the last month compared to Rs 4.9 billion in February 2021.

We will keep you posted on more updates from this space. Stay tuned.

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And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Read the latest Market Commentary

What else is happening in the markets today? Dig in...

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Stock Market Updates

Sensex, Nifty Snap 4-Day Winning Streak; JSW Steel and Hindalco Among Top Losers (Today's Market)

May 11, 2021 Closing

Indian share markets ended on a negative note with the Sensex down by 341 points and the Nifty ending down by 92 points.

Sensex Trades Over 200 Points Lower, Dow Futures Down by 59 Points (Today's Market)

May 11, 2021 12:30 pm

BSE Sensex is trading up down 240 points, while the NSE Nifty is trading down by 52 points.

AUROBINDO PHARMA at All Time High; BSE HEALTHCARE Index Up 0.7% (Today's Market)

May 11, 2021 09:51 AM

AUROBINDO PHARMA share price has hit an all time high at Rs 1,064 (up 1.4%). The BSE HEALTHCARE Index is up by 0.7%. Among the top gainers in the BSE HEALTHCARE Index today are AUROBINDO PHARMA (up 1.4%) and PFIZER (up 1.4%). The top losers include PIRAMAL ENTERPRISES and CAPLIN POINT (down 0.2%).

Sensex Falls 400 Points on Weak Global Cues; Kotak Mahindra Bank & HDFC Top Losers (Today's Market)

May 11, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 412 points, while the Nifty is trading lower by 124 points.

MARICO at All Time High; BSE FMCG Index Up 0.1% (Today's Market)

May 11, 2021 09:49 AM

MARICO share price has hit an all time high at Rs 487 (up 2.8%). The BSE FMCG Index is up by 0.1%. Among the top gainers in the BSE FMCG Index today are MARICO (up 2.8%) and P&G HYGIENE (up 0.7%). The top losers include DABUR (down 0.1%) and KRBL (down 0.1%).

GRINDWELL NORTON at All Time High; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

May 11, 2021 09:49 AM

GRINDWELL NORTON share price has hit an all time high at Rs 1,159 (up 3.4%). The BSE CAPITAL GOODS Index is down by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are GRINDWELL NORTON (up 3.4%) and HONEYWELL AUTOMATION (up 0.2%). The top losers include SOLAR INDUSTRIES (down 0.2%) and HAVELLS INDIA (down 0.6%).

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