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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.

Speaking of the current stock market scenario, India's #1 trader, Vijay Bhambwani, talks about the tricks and mind games the stock markets can play in one of his latest videos for Fast Profits Daily.

Tune in here to find out more:

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.

Speaking of gold ETFs, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Even with the recent volatility in prices, gold remains one of the best performing commodities this year to combat the fallout from the coronavirus pandemic.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

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!

Read the latest Market Commentary

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Stock Market Updates

Indian Indices Extend Gains; Bajaj Auto & Bajaj Finance Surge 4% (Today's Market)

May 18, 2021 12:30 pm

The BSE Sensex is trading up by 641 points, while the NSE Nifty is trading up by 190 points.

Sensex Zooms 650 Points, Reclaims 50,000 Mark; Bajaj Finance & IndusInd Bank Top Gainers (Today's Market)

May 18, 2021 09:30 am

Indian share markets open strong. The BSE Sensex opened up by 629 points, while the Nifty is trading higher by 192 points.

BLISS GVS PHARMA Share Price Up by 6%; BSE HEALTHCARE Index Up 0.4% (Today's Market)

May 18, 2021 09:48 AM

BLISS GVS PHARMA share price is trading up by 6% and its current market price is Rs 115. The BSE HEALTHCARE is up by 0.4%. The top gainers in the BSE HEALTHCARE Index are BLISS GVS PHARMA (up 6.2%) and SHILPA MEDICARE (up 7.3%). The top losers are APOLLO HOSPITALS and ABBOTT INDIA (down 0.1%).

FEDERAL BANK Share Price Up by 5%; BSE BANKEX Index Up 1.6% (Today's Market)

May 18, 2021 09:40 AM

FEDERAL BANK share price is trading up by 5% and its current market price is Rs 86. The BSE BANKEX is up by 1.6%. The top gainers in the BSE BANKEX Index is FEDERAL BANK (up 5.3%).

HINDUSTAN COPPER Share Price Up by 5%; BSE METAL Index Up 2.7% (Today's Market)

May 18, 2021 09:38 AM

HINDUSTAN COPPER share price is trading up by 5% and its current market price is Rs 179. The BSE METAL is up by 2.7%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 5.2%).

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 2.0% (Today's Market)

May 18, 2021 09:34 AM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,245 (up 3.5%). The BSE POWER Index is up by 2.0%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 3.5%) and SIEMENS (up 0.2%). The top losers include KALPATARU POWER (down 0.2%) and RELIANCE INFRA (down 1.1%).

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May 18, 2021 (Close)