Sensex Trades Flat; Capital Goods & Healthcare Stocks Lose

Wed, 30 May 12:30 pm

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Stock markets in India continue to trade in a narrow range amid weakness in the Asian stock markets. Sectoral indices are trading mixed with stocks in the capital goods sector and healthcare sector witnessing maximum selling pressure. Gains are largely seen in power sector and PSU sector.

The BSE Sensex is trading down by 10 points and the NSE Nifty is trading down by 6 points. Meanwhile, the BSE Mid Cap index is trading flat while, the BSE Small Cap index is trading up by 0.1%. The rupee is trading at 67.82 to the US$.

We are nearing the end of May. That's almost five months of 2018.

While the BSE-Sensex has increased marginally so far, the mid and small cap indices have fallen between 10% and 12%.

Uncertain Times for the Benchmark Index

But that's just the indices. Individual mid and small caps have fallen much more.

The steep fall in these indices is due to several reasons.

First, there has been some profit-booking in the mid and small cap space. After all, these indices were sharp outperformers in 2017. Second, rising crude oil prices and a falling rupee have taken a toll.

And third, there is some pressure in this space due to the re-alignment of investments by mutual fund managers prompted by the recent changes in regulation.

In such an environment, it makes sense for investors to be selective while buying stocks. Focus on value and the underlying fundamentals of the business. Then, they need not worry about the market.

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In the news from the engineering sector. BHEL has reported a rise of over 2-fold in its net profit at Rs 4.6 billion for the quarter ended 31 March 2018 as compared to Rs 2.2 billion for the same quarter in the previous year.

However, total income of the company marginally decreased by 1.3% at Rs 103.4 billion for quarter under review as compared to Rs 104.8 billion for the quarter ended 31 March 2017.

For the year ended 31 March 2018, the company has posted a rise of 62.7% in its net profit at Rs 8.1 billion as compared to Rs 5 billion for the previous year. However, total income of company marginally decreased 2.3% at Rs 297.5 billion for year under review as compared to Rs 304.7 billion for year ended 31 March 2017.

To know more about the company, you can access to BHEL's latest result analysis and BHEL stock analysis on our website.

BHEL share price was trading up by 2% at the time of writing.

Moving on to the news from banking sector. As per an article in a leading financial daily, State Bank of India (SBI) has raised interest rates by 5-25 basis points (bps) on retail Fixed Deposits (FDs) of some maturities on 28 May 2018.

The FDs for general deposit-holders will yield 6.65% from 6.4% for one year and the Senior citizens will get 7.15% on deposits with the same maturity, against 6.90% earlier rate.

The deposits which are maturing between two and three years will give a return of 6.65%, 5 bps greater than earlier.

Senior citizens will earn 7.15%, up from 7.10% earlier. The Rates on deposits of all other maturities are unchanged, the reports noted.

To get more updates on stock market, click here.

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