Indian Indices Continue Downtrend; Precious Metals Gain on Safe Haven Bets

Thu, 18 May 01:30 pm

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After opening the day marginally lower, the Indian share markets witnessed losses and went on to trade in the red. Sectoral indices are trading on a negative note with stocks from the realty sector and the consumer durables sector witnessing maximum selling pressure.

The BSE Sensex is trading down 148 points (down 0.5%) and the NSE Nifty is trading down 69 points (down 0.7%). Meanwhile, the BSE Mid Cap index is trading down by 1.2%, while the BSE Small Cap index> is trading down 1%. The rupee is trading at 64.37 to the US$.

In the news from the initial public offer (IPO) space... The IPO of Ahmedabad-based PSP Projects has been subscribed 13% on the second day of the bidding process today.

Retail demand came good with nearly half of the quota limit for retail individual investors (RIIs) seeing subscription.

The price band for the issue is set at Rs 205-210 per share.

Apart from the above, The IPO of IRB InvIT got listed at Rs 103.25 on Indian bourses today.

This was the first infrastructure investment trust to get listed and had been oversubscribed 8.57 times. The IPO was sold in the price band of Rs 100-102.

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.

Moving on to the news from the commodity markets... Precious metals gold and silver are witnessing buying interest today.

Most of the gains are seen on the back of the political turmoil in the United States and tempered expectations for an aggressive string of interest rate hikes by the US Fed.

The above developments have meant more safe-haven bets for precious metals and have aided gold and silver prices.

To keep a tab on the movements in gold, silver and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

In the news from global financial markets, most of the volatility for global stock markets is seen on the back of political turmoil in the United States.

Reports showed political pressure deepened on US President Donald Trump after reports that he tried to interfere with a federal investigation.

The above developments bring us to the question of how can one make money in a rising yet volatile market?

We believe a few super investors could provide the clue. These are the guys who've beaten the markets black and blue and have an eye for multi bagger stocks irrespective of the macro environment.

With respect to which super investors to follow, my colleague Kunal and Rohan have could be of great help courtesy their project, The Super Investors of India.

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

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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