Sensex Continues Momentum; Realty Stocks Witness Buying

Mon, 8 May 11:30 am

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After opening the day marginally higher, Indian share markets have continued their momentum and are presently trading in the green. Sectoral indices are trading on a positive note with stocks in the realty sector and banking sector leading the gains.

The BSE Sensex is trading up 104 points (up 0.4%) and the NSE Nifty is trading up 44 points (up 0.5%). The BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 0.6%. The rupee is trading at 64.20 to the US$.

After the rapid swings seen last week, the Indian indices are trading in the green today. Most of the buying interest is supported by the strong gains seen in the Asian stock markets, following the French election outcome.

Centrist candidate Emmanuel Macron won the French presidential election, defeating far-right candidate Marine Le Pen.

Mr Macron won by 66.06% to 33.94% to become the country's youngest president at 39. He will also become the first president from outside the two traditional main parties since the modern republic's foundation in 1958.

Mr Macron is a liberal centrist, pro-business and a strong supporter of the European Union (EU). His campaign pledges included a 1,20,000 reduction in public-sector jobs, a cut in public spending by 60 billion euro, and a lowering of the unemployment rate to below 7%. He'd also vowed to ease labor laws and give new protections to the self-employed.

That said, he noted that the task facing him and the country was enormous.

The victory of Mr Macron is seen as a market-friendly development as many anticipate his presidency to reduce the risk of Brexit-like shock.

While the above projections bring relief for France, the area presently is a mess. If one has to track the ground realities, France is most likely headed for a constitutional crisis in 2017. As one of the issues of Vivek Kaul's Inner Circle (requires subscription) states:

• ...35.29% of the experts believe France is the most likely location of the next constitutional crisis. With leading French leftist Francois Fillon plagued by personal controversies (his wife received public money for work she never did) the French establishment has yet to come up with a clear alternative to Marine Le Pen of the National Front.

Value investors across the globe were also busy tracking the highlights of the Berkshire's 53rd AGM. In the AGM, Warren Buffett and his nonagenarian partner Charlie Munger spoke on wide range of topics and answered many of the audiences' questions that brought valuable insights.

We'll be coming up with the key highlights of the AGM shortly. Stay tuned!

Talking of value investors like Warren Buffett and Charlie Munger, do you know who the successful value investors of India are? And more importantly, how do they pick stocks? Which stocks are they picking? How have they been able to make a killing when ordinary investors never seem to make any serious money?

My colleagues Rohan and Kunal just made getting access to all of these insights easier than ever. They compiled all of their interviews for the Superinvestor Project into a special report called The Superinvestors of India.

To know more about these superinvestors and their stock picking approach, download a free copy of - The Super Investors of India.

Apart from the above, market participants in the domestic markets are keenly tracking the IPO space.

This comes as the Rs 12 billion IPO of state-owned Housing and Urban Development Corporation (HUDCO) is set to kick off today.

The firm is a wholly-owned government company. The company has 46 years of experience in providing loans for housing and urban infrastructure projects in India.

HUDCO classifies its housing finance loans into social housing, residential real estate and retail finance. Its urban infrastructure finance loans include projects relating to water supply, roads & transport, power, emerging sectors, commercial & social infrastructure, sewage & drainage. Further, its housing finance loans are classified into social housing, residential real estate and retail finance, which is branded as HUDCO Niwas.

We will shortly release a note on the above IPO today. To know our view on the same, you can visit our IPO page.

Speaking of IPOs, a dozen of IPOs are lined up in the upcoming months. And given the recent buoyancy surrounding IPOs, market participants are looking forward to most of the upcoming issues. The buoyancy in the IPO space can be seen from the huge retail participation in some of the recent IPOs.

Huge Retail Participation in IPOs

But no matter what picture the present trend paints, one should look at the fundamentals of the business and the attractiveness of valuations in each and every IPO.

In case you wish to run IPOs through a handy checklist, you can download our Handbook of IPOs.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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