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Indian Indices End Marginally Higher; Realty Stocks Witness Buying
Tue, 17 Apr Closing | Monish Vora, TM Team

After opening their day on a flat note, Indian share markets witnessed choppy trades and ended their session marginally higher. Gains were largely seen in the realty sector and power sector, while losses were largely seen in the IT sector and auto sector.

At the closing bell, the BSE Sensex stood higher by 90 points (up 0.3%) and the NSE Nifty closed higher by 20 points (up 0.2%). Both, the BSE Mid Cap index and the BSE Small Cap index, ended the day up by 0.3%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng was down 0.8% and the Nikkei was trading up by 0.1%. The Shanghai Composite stood down by 1.4%.

The rupee was trading at 65.7 to the US$ at the time of writing.

In the news from global financial markets, China's economy grew 6.8% in the first quarter of 2018. This was against a consensus estimate of 6.7% YoY growth for the quarter. The growth also marked the third-straight quarter of 6.8% growth for the world's second-largest economy.

In the news from the chemicals sector, as per an article in the Economic Times, India has initiated probe into alleged dumping of a chemical used in paint and leather industry from Brazil, Indonesia and Thailand following a complaint from a domestic player.

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How We Were Able To Predict The Rise Of The IT Sector...

The NSE IT Index has moved up more than 21% between 16th August 2017 and 31st January 2018.

Would you believe me if we told you one of our senior research analysts, Apurva Sheth, had predicted this rise in advance?

Yes!

Not only that, Apurva also zeroed in on one IT stock he believed would benefit greatly from the rise. And that's exactly what happened.

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The commerce ministry's investigation arm Directorate General of Antidumping and Allied Duties (DGAD) has stated that it has found sufficient evidence of dumping of 'non-plasticised industrial grade nitrocellulose excluding nitrocellulose damped in Ethanol and waterwet' from these three countries.

It remains to be seen how the above investigation pans out. Meanwhile, we will keep you updated on all the developments from this space.

In the news from sectoral indices, losses were seen in the IT Index today with Wipro share price, Tata Consultancy Services (TCS) share price, and Infosys share price witnessing the maximum selling pressure.

At the time of closing, the IT Index stood down by X%.

Speaking of the IT sector, here's an interesting study...

While the BSE Sensex delivered a return of about 11% during the financial year 2017-18, the BSE IT index gained over 19% during the same period.

Now, that's a significant outperformance. If you were holding some solid IT stocks last year, you have most likely fared better than the Sensex.

But last year, the markets were not as optimistic on the sector as they are now.

Look at the chart...

How It Paid Off to Bet on the Uncertainties in the IT Sector

During the first half of 2017-18, the IT sector was among the underperformers, and it was lagging way behind the Sensex.

During the first half of 2017-18, the IT sector was among the underperformers, and it was lagging way behind the Sensex. In fact, until October 2017, the index was still hovering near levels seen in April 2017.

Most of this was seen on the back of uncertainty and negativity surrounding the IT sector last year. From the H1-B visa problem, the global slowdown concerns, to the strengthening of the Indian rupee, high attrition rates, etc.

But once the mood of the market changed, the IT index not only recovered, but went on to outperform the Sensex.

And here's a note from Profit Hunter

Hindustan Unilever (HUL) is among the top gainers in the Nifty 50 Index - up 2% and trading at its life-time high.

The last time we reviewed the stock, it had broken out of its broad range of 765 - 975 on the upside with strong volumes. After the break out the stock rallied nearly 44% to touch a life-time high of 1,410 in January 2018. It corrected for a while to touch a low of 1,280 where it found support from horizontal support line (green line).

Recently, it broke above the falling trendline (blue line) and resumed its uptrend. Today, the stock has touched a fresh life-time high of 1,450.

But the RSI indicator is now trading in its extreme overbought territory.

So will the stock continue with its strong upside momentum or will the overbought condition bring in some correction. Let's wait and watch...

HUL at its Life-time High
HUL at its Life-time High 

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Stock Market Updates

BIOCON LTD Surges by 5%; BSE HEALTHCARE Index Up 1.8% (Today's Market)

Sep 25, 2018 03:19 PM

BIOCON LTD share price has surged by 5% and its current market price is Rs 701. The BSE HEALTHCARE is up by 1.8%. The top gainers in the BSE HEALTHCARE Index is BIOCON LTD (up 5.0%). The top losers are ABBOTT INDIA and J.B.CHEMICALS (down 0.3%).

PRAJ IND.LTD Surges by 5%; BSE CAPITAL GOODS Index Down 0.4% (Today's Market)

Sep 25, 2018 03:07 PM

PRAJ IND.LTD share price has surged by 5% and its current market price is Rs 110. The BSE CAPITAL GOODS is down by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is PRAJ IND.LTD (up 5.3%). The top losers are AIA ENGINEERING and L&T .

ANDHRA BANK Surges by 5%; BSE BANKEX Index Up 1.0% (Today's Market)

Sep 25, 2018 03:07 PM

ANDHRA BANK share price has surged by 5% and its current market price is Rs 31. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is ANDHRA BANK (up 5.0%). The top losers are ICICI BANK (down 0.2%) and FEDERAL BANK (down 0.3%).

RELAXO FOOTWEARS Plunges by 5%; BSE 500 Index Up 0.2% (Today's Market)

Sep 25, 2018 02:55 PM

RELAXO FOOTWEARS share price has plunged by 5% and its current market price is Rs 776. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are BAJAJ HIND. SUGAR (up 5.1%) and MAHINDRA FINANCE (up 4.7%). The top losers are RELAXO FOOTWEARS (down 5.1%) and HEG LTD (down 7.7%).

MOTILAL OSWAL Plunges by 6%; BSE 500 Index Up 0.2% (Today's Market)

Sep 25, 2018 02:55 PM

MOTILAL OSWAL share price has plunged by 6% and its current market price is Rs 740. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are BAJAJ HIND. SUGAR (up 5.1%) and MAHINDRA FINANCE (up 4.7%). The top losers are MOTILAL OSWAL (down 5.5%) and HEG LTD (down 7.7%).

Sensex Surges 250 Points; IT, Pharma Stocks Gain Most (Today's Market)

Sep 25, 2018 12:30 pm

The BSE Sensex is trading up by 240 points, while the NSE Nifty is trading up by 65 points.

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