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Indian Indices Trade on a Negative Note; Sensex Down Over 160 Points
Mon, 21 May 12:30 pm

After opening the day marginally higher, share markets in India witnessed selling pressure and are presently trading on a negative note. Sectoral indices are trading on a negative note with stocks in the realty sector and consumer durables sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 168 points (down 0.5%), while the NSE Nifty is trading down by 56 points (down 0.5%). The BSE Mid Cap index is trading down by 1.3%, while the BSE Small Cap index is trading down by 2%.

The rupee is trading at 68.08 to the US$.

Just Dial share price, Usha Martin share price, DLF share price, Colgate-Palmolive share price, and Future Retail share price are among the stocks to be in focus today as these companies are reporting their March quarter results today.

In the news from the IPO space, IndoStar Capital Finance made a decent debut on bourses today. The scrip of the company, which recently concluded its IPO subscription offer, got listed at Rs 600 on BSE, a 5% premium to its issue price of Rs 572.

At the time of writing, IndoStar Capital Finance share price was trading at Rs 589 on the BSE.

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IndoStar Capital Finance is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a systemically important non-deposit taking company.

It is primarily engaged in providing structured term financing solutions to corporates and loans to SME borrowers in India. It recently expanded its portfolio to offer vehicle finance and housing finance products.

The company is 42.3% owned by the private equity fund Everstone Capital, while ACP Libra owns 16.35% and Beacon India PE owns 10.8%.

To know more about the company, you can read our IPO analysis of IndoStar Capital Finance (requires subscription).

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year. This is evident from the chart below.

IPO Subscription Reach Sky-High Levels

However, one shall note that more than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

To know more, download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the IPO rush.

In the news from global financial markets, as per a leading financial daily, the US trade war with China is on hold as both the countries have agreed to drop their tariff threats while they work on a wider trade agreement.

Steven Mnuchin and US President Donald Trump's top economic adviser, Larry Kudlow, said that the agreement reached by Chinese and American negotiators on Saturday set up a framework for addressing trade imbalances in the future.

The above development follows trade war between the world's top two economies after Trump administration last week published a list of about 1,300 Chinese exports worth US$ 50 billion that could be hit by US tariffs because of Beijing's alleged theft of intellectual property and technology. China hit back with a levy 25% tariffs on imports of 106 US products, bringing the total to US$3 billion in retaliation to Trump's move to impose tariffs on steel and aluminium.

How the above discussion finally pans out remains to be seen. Meanwhile, we'll keep you updated on all the developments from this space.

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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