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How to Find One Stock with Crorepati Potential? >> READ MORE

Sensex, Nifty End Lower as Realty & IT Stocks Witness Selling; Asian Paints, Berger Paints Slump 8%
Wed, 25 May Closing

After opening on a positive note, Indian share markets failed to hold early gains and ended the day lower.

Benchmark indices extended losses for the third consecutive session as volatility remained high ahead of F&O expiry.

At the closing bell, the BSE Sensex plunged 303 points or 0.6%.

Meanwhile, the NSE Nifty ended down by 99 points, ending at 16,026.

NTPC, Bharti Airtel, and HDFC were among the top gainers today.

Asian Paints, TCS, and Tech Mahindra were among the top losers today.

The broader markets ended deep in the red as the BSE Mid Cap index slipped 1.9% while the BSE Small Cap index plunged 2.9%.

Barring banking stocks, all sectoral indices remained under pressure. Stocks in the energy sector, IT sector, metal sector, and pharma sector witnessed most of the selling.

The primary market is set to witness some action in the coming days with these 6 Mega IPOs around the corner.

Shares of Choice International and Mehta Housing hit their 52-week highs today.

In this volatile market, several penny stocks are continuously hitting their 52-week highs. Several Indian stocks have delivered multibagger returns in a span of one month. But not all are worthy.

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If you're new and on the lookout for fundamentally strong penny stocks, check out the list of penny stocks to buy for long term.

Outside the home ground, Asian share markets posted mixed signals after US stocks retreated on concerns about growth.

At the close in Tokyo, the Nikkei 225 was down 0.3%, while the Hang Seng rose 0.3%. The Shanghai Composite added 1.2%.

The SGX Nifty was trading 0.6% lower at the time of writing.

The rupee is trading at 77.5 against the US$.

Gold prices are currently trading down by 0.4% at Rs 50,959 per 10 grams while silver is trading down by 0.8% at Rs 61,484 per kg.

Speaking of stock markets, lead smallcap analyst at Equitymaster Richa Agarwal talks about a simple exercise that could give you a great lead in picking the most promising stocks, in her latest video.

In the video, Richa talks about insider buying and which stocks to keep on your watchlist to help polish your stock picking process.

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In news from the metal sector, the central government has approved the sale of its entire stake in Hindustan Zinc.

The government presently holds 29.5% stake in the zinc-lead miner which is a subsidiary of Vedanta.

The Supreme Court in November 2021 had permitted the government to divest the remaining shareholding in Hindustan Zinc.

According to a report, the cabinet has already approved the stake-sale but the offer size of the disinvestment hasn't been disclosed yet.

The government's residual stake in the company is worth around Rs 380 bn, at the current market price.

The transaction will go through a market sale and a large one at that. Hence, market experts don't expect such a large stake to be sold in one go, and most likely the government will sell at periodic intervals.

It is expected that Hindustan Zinc share price will remain under pressure going forward given the likely reduction of premium to industry as liquidity increases and government presence on the board post any stake sale goes away.

Hindustan Zinc share price ended 4% higher on the BSE today.

Speaking of the stock markets, did you know FIIs have sold shares worth over US$ 25 bn since April 2021?

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They have been selling Indian shares for eight consecutive months now. So much so that their holding in NSE 500 companies dropped to a 3-year low in March 2022.

Since April 2021, FIIs have been sellers in every month except three and they have sold Indian shares worth over US$ 25 bn.


To put things in perspective, the recent selling pressure has more than halved the Rs 4.4 tn the foreign investors pumped into the domestic secondary market between 2010 and 2020.

The intense and unceasing selling by foreign investors has been triggered by rising global interest rates, multi-decade high inflation in Western economies, the Russia-Ukraine crisis, and rising unattractiveness of Indian stocks because of their rich valuations.

Retail investors made up for this selling with their enthusiastic buying. But the selling by FIIs meant that retail investors were the only large buyers in the market.

In other words, if retail investors stop/reduce their buying activity, the market will be for a very tough time.

Moving on to news from the paints sector, paint companies came under pressure today, after Grasim Industries doubled the capital expenditure for its foray into the paints business.

Grasim Industries while reporting Q4 results yesterday, announced its plan for commissioning of plants to start by the fourth quarter of financial year 2024.

  • Market dynamics of the decorative paints sector has changed with new capacities being announced backed by strong growth and outlook.

    The project cost is likely to be around Rs 10,000 crore by FY25 (financial year 2025).

In August last year, Grasim Industries' board had approved a Rs 50 bn capital expenditure plan to set up a paint business.

Following the development, shares of paint companies slipped.

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Asian Paints share price closed 8% lower on the BSE today. While Berger share price hit a 52-week low and closed 7% lower on the BSE.

To know more about the company, check out Grasim Industries' financial fact sheet  and its latest quarterly results.

In the meantime, check out the companies that have announced the biggest dividend payouts this year alongside Asian Paints.

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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