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Equity Mutual Fund Inflows in March, RBI's First Purchase Under G-SAP 1.0, and Buzzing Stocks Today
Mon, 12 Apr Pre-Open | Monish Vora, TM Team

Indian share markets ended marginally lower on Friday last week.

At the closing bell on Friday, 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.

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

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.

Metal stocks and power stocks, on the other hand, witnessed most of the selling.

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

At 8:00 am today, the SGX Nifty was trading down by 203 points, or 1.4% lower at 14,670 levels. Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading down by 0.5% at Rs 46,628 per 10 grams at the time of closing stock market hours on Friday last week.

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The Indian government has decided to reduce the country's dependence on crude oil imports from Saudi Arabia.

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Top Stocks in Focus Today

Among the buzzing stocks today will be SREI Infrastructure Finance.

SREI Equipment Finance, a 100% subsidiary of SREI Infrastructure Finance said it has received expressions of interest (EoI) from two international private equity firms for a US$ 250 million capital infusion - US-based Arena Investors LLP and Singapore's Makara Capital Partners.

The company's strategic coordination committee will be in discussion with potential investors, while global consultancy firm Ernst & Young will advise the committee, the Kolkata-based firm said in a statement.

From the steel sector, JSW Steel share price will be in focus today as the company joined the elite club of companies with Rs 1.5-trillion market capitalization on the BSE last week, after its share price rallied 14% to hit an all-time high of Rs 638.90 in intra-day trade.

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With the market-cap of Rs 1.54 trillion, JSW Steel stood at 24th position in overall market-cap ranking. JSW Steel surpassed Bajaj Finserv, Sun Pharma and HDFC Life Insurance Company in market-cap ranking during intra-day trade last week.

In the past one month, JSW Steel share price has surged over 55%.

The company informed the stock exchanges that it achieved crude steel production of 4.19 million tons in January-March quarter of the financial year 2020-21 (4QFY21), registering a growth of 2% sequentially and 6% on a year-on-year (YoY) basis.

Equity Mutual Funds Record Net Inflows in March After Nine Months

Moving on to news from the mutual fund industry...

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.

RBI's First Purchase Under G-SAP 1.0 Set for April 15, 2021

A day after announcing the introduction of the G-sec Acquisition Programme (G-SAP 1.0), the Reserve Bank of India (RBI) on April 8, 2021, announced the open market purchase of Government of India securities under the programme.

"The Reserve Bank of India will conduct open market purchase of government securities of Rs 1 trillion under the G-sec Acquisition Programme (G-SAP 1.0) in Q1FY22 with a view to enabling a stable and orderly evolution of the yield curve. The first purchase of government securities for an aggregate amount of Rs 250 billion under G-SAP 1.0 will be conducted on April 15, 2021," the RBI said in a circular.

Accordingly, the RBI will purchase five types of government securities via a multi-security auction using multiple price methods.

The dates of maturity vary from November 2, 2023 to and March 16, 2035.

The RBI has reserved the right to decide on the quantum of purchase of individual securities and accept bids for less than the aggregate amount, it said.

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

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

Sensex Trades Over 250 Points Higher, Dow Futures Up by 60 Points (Today's Market)

May 5, 2021 12:30 pm

BSE Sensex is trading up by 265 points, while the NSE Nifty is trading up by 74 points.

BHEL Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

May 5, 2021 10:06 AM

BHEL share price is trading up by 5% and its current market price is Rs 56. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index is BHEL (up 5.4%). The top losers are V GUARD INDUSTRIES and SADBHAV ENGINEERING (down 0.2%).

Sensex Opens Higher ahead of RBI Governor's Speech; ONGC & IndusInd Bank Top Gainers (Today's Market)

May 5, 2021 09:30 am

Indian share markets open on a positive note. The BSE Sensex opened up by 209 points, while the Nifty is trading higher by 74 points.

IDBI BANK Share Price Up by 6%; BSE BANKEX Index Up 0.7% (Today's Market)

May 5, 2021 09:46 AM

IDBI BANK share price is trading up by 6% and its current market price is Rs 39. The BSE BANKEX is up by 0.7%. The top gainers in the BSE BANKEX Index is IDBI BANK (up 6.5%).

PERSISTENT SYSTEMS at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

May 5, 2021 09:46 AM

PERSISTENT SYSTEMS share price has hit a 52-week high. It is presently trading at Rs 2,248. BSE 500 Index is up by 0.6% at 19,743. Within the BSE 500, PERSISTENT SYSTEMS (up 1.8%) and BALRAMPUR CHINI (up 7.8%) are among the top gainers, while top losers are ALEMBIC PHARMA and FUTURE LIFESTYLE.

MARICO at All Time High; BSE FMCG Index Up 0.2% (Today's Market)

May 5, 2021 09:40 AM

MARICO share price has hit an all time high at Rs 466 (up 0.5%). The BSE FMCG Index is up by 0.2%. Among the top gainers in the BSE FMCG Index today are MARICO (up 0.5%) and GSK CONSUMER (up 5.1%). The top losers include ZYDUS WELLNESS (down 0.1%) and HUL (down 0.2%).

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