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Indian Indices Witness Volatility, HDFC Bank Q4 Result, Stocks in Focus, and Top Cues to Track Today
Tue, 21 Apr Pre-Open | Monish Vora, TM Team

Share markets in India ended on a flat note yesterday.

Benchmark indices fluctuated between gains and losses, tracking weakness in global peers.

Sectoral indices ended on a mixed note with stocks in the metal sector and telecom sector witnessing selling pressure, while IT stocks and energy stocks witnessed buying interest.

At the closing bell yesterday, the BSE Sensex stood higher by 59 points while the NSE Nifty ended on a flat note.

The BSE Mid Cap index ended down by 0.2%, while the BSE Small Cap index ended up by 0.8%.

Note that, the recent correction has made the valuations of many stocks further attractive. The icing on the cake is the dividend yields these stocks provide.

Richa Agarwal, editor of Hidden Treasure wrote a detailed piece here on these 8 stocks.

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Top Stocks in Focus Today

From the automobile sector, TVS Motors share price will be in focus today as the company has acquired Britain's Norton Motorcycles for Rs 1,531.2 million.

In a statement to exchanges, the company said that it has acquired Britain's most iconic sporting motorcycle brand Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries.

From the aluminium sector, NALCO share price will also be in focus today as the company has been granted the mining lease of the Utkal-D coal block by Odisha government. The Navratna CPSE, one of the leading producers of alumina and aluminum in the country, has been granted the mining lease by the state government through a notification issued on April 16, by the Steel and Mines department.

Market participants will also be tracking Kotak Mahindra Bank share price as the lender is planning to raise capital, which will help promoter Uday Kotak lower his stake in the institution and comply with Reserve Bank of India (RBI) regulations.

Reportedly, the bank is planning to sell 4% of its promoter stake.

Watch Now: 3 Little-known Stocks We are Super Bullish On

HDFC Bank Reports Strong Q4 Results

HDFC Bank's net interest income (NII) grew 16.2% year-on-year (YoY) at Rs 152 billion in the January-March quarter (Q4FY20).

The bank's profit before tax (PBT) was up 2.5% at Rs 91.7 billion YoY, due to higher provisioning in the light of the Covid-19 crisis.

The bank's net interest margin (NIM) stood at 4.3% in Q4FY20. The private lender's NIM stood at 4.2% in Q3FY20.

Overall, the bank reported a 15.4% rise in consolidated net profit at Rs 72.8 billion for Q4FY20. The bank had posted a net profit of Rs 63 billion during the corresponding quarter last year.

Asset quality improved sequentially as gross non-performing assets (GNPA) declined by 16 basis points (bps) quarter-on-quarter, of which 10 bps improvement was due to moratorium benefit.

Gold Witnesses Selling

In news from the commodities space, domestic gold prices fell yesterday, tracking a decline in global rates. On Multi Commodity Exchange (MCX), June gold futures fell 0.8% to Rs 45,310, extending the previous session's Rs 1,600 decline.

In global markets, gold prices dropped to over one-week low amid a firm dollar. The dollar strengthened 0.15% against key rivals to 99.98, making gold costlier for investors holding other currencies.

Note that gold prices are soaring to new highs, tracking the world economy, which is heading into a recession amid the Covid-19 crisis.

June gold futures crossed the Rs 47,000-mark per 10 grams on 16 April for the first time during intraday trade on MCX.

Speaking of gold, in one of his videos, Vijay Bhambwani explains why the bull market in gold may get bumpy going ahead.

You can check the same here: A Timely Warning About Gold

FPIs Continue to Leave Indian Capital Markets

Foreign portfolio investors (FPIs) have withdrawn a net Rs 126.5 billion from the Indian capital markets in April so far amid the coronavirus crisis.

Between April 1 to 17, FPIs pulled out a net sum of Rs 38.1 billion from equities and Rs 88.4 billion from the debt segment, the depositories data showed.

The total net outflow stood at Rs 126.5 billion.

However, April has been a tad better compared to March, when overseas investors had withdrawn a record Rs 1.1 trillion on a net basis from the Indian markets (both equity and debt).

The coronavirus impact has shaken markets worldwide. Indian stock markets have felt the full impact too.

For the BSE Sensex, FY20 was the second worst year post FY08, the year of the global financial crisis.

Good Time to Start Investing Now?

Naturally, there is an atmosphere of fear all round.

Is it time to sell stocks now? Will the correction get worse?

History has shown that after years like the one we had just now, the next 3 years are good for the markets. In fact, these corrections are the rare times when you find businesses with solid fundamentals at reasonable valuations.

If you can find good businesses that can survive the current crisis, you will do well in the long run.

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

Sensex Zooms 1,030 Points, Nifty Tops 14,980-Mark; HDFC Bank Among Top Gainers (Today's Market)

Feb 24, 2021 Closing

Indian share markets witnessed huge buying interest during the extended closing hours today and ended their day on a strong note.

Sensex Rises 477 Points; Trading Resumes on NSE (Today's Market)

Feb 24, 2021 Special Update

The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Feb 24, 2021 02:54 PM

SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Up 0.5% (Today's Market)

Feb 24, 2021 02:36 PM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).

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

Feb 24, 2021 01:02 PM

ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.

Sensex Trades Over 200 Points Higher; Dow Futures Down by 103 Points (Today's Market)

Feb 24, 2021 12:30 pm

BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.

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