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Sensex Opens Higher; Consumer Durables & Bank Stocks Lead
Thu, 21 Jun 09:30 am | Rini Mehta, TM Team

Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.8% while the Hang Seng is down 0.4%. The Shanghai Composite is trading flat. On Wednesday, US markets ended the day mixed with the Nasdaq Composite closing at a record high and the Dow trapped in its longest losing streak since March 2017 as US trade concerns lingered.

Back home, India share markets opened the day on a positive note. The BSE Sensex is trading up by 94 points while the NSE Nifty is trading up by 30 points. The BSE Mid Cap index and BSE Small Cap index both opened up by 0.2%.

Barring power stocks, healthcare stocks & metal stocks, all sectoral indices have opened the day in green with consumer durables stocks and bank stocks witnessing maximum buying interest. The rupee is trading at 68.08 to the US$.

It's been almost five & a half 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.

So, what is key to identifying potential multibagger stocks?

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Engineering stocks opened the day on a mixed note with Bharat Bijlee & Jyoti Structures leading the gainers. As per an article in a leading financial daily, Bharat Heavy Electricals Ltd (BHEL) has bagged two major orders for emission control equipment. The order is worth Rs 10 billion from Telangana State Power Generation Corporation Ltd (TSGENCO).

The orders involve the supply and installation of Flue Gas Desulphurization (FGD) systems for control of SOx emissions at TSGENCO's 1x800 MW Kothagudem Thermal Power Station (TPS) and 4x270 MW Bhadradri TPS in Telangana.

The order for Bhadradri TPS also includes modification in Boiler and Electrostatic Precipitators (ESPs) to meet the revised emission norms.

BHEL is presently executing these projects on an engineering, procurement, and construction (EPC) basis.

BHEL share price opened the day up by 0.9%.

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

To get more updates on share market, click here.

Moving on to the news from the aviation space. IndiGo (Interglobe Aviation Ltd) retained its No.1 spot in terms of market share among India's air passenger careers in May, carrying 4.85 million people during the month.

Reportedly, the low-fare airline commanded a 40.9% market share in May, against 39.8% in April, and 41.2% in May 2017.

The Jet Airways (India) Ltd. came a distant second, with 13.7% market share, flying 1.63 million passengers during the month, as per the data from Directorate General of Civil Aviation (DGCA).

National carrier Air India clocked 12.8% market share, carrying 1.52 million passengers, while SpiceJet, which registered 12.3% market share, carried 1.5 million passengers. Besides, GoAir carried 1.03 million passengers, AirAsia India 648,000, Vistara 471,000 and Jet Lite 182,000.

During May, SpiceJet clocked the highest passenger load factor at 94.8%, meaning nearly 95% of its seats were filled. IndiGo registered a load factor of 91%, while AirAsia India and GoAir registered 89.7% and 89.2%, respectively.

Despite the anticipated spike during the month, growth in comparison with the same period last year was only 17%, as opposed to 26% in April and 28% in March, due to the increase in fuel prices, and travel in particular sectors becoming expensive.

The total number of passengers carried by domestic airlines during Jan-May 2018 was 57.1 million, registering a growth of 22.7%, the reports noted.

IndiGo share price opened the day up by 3.9%.

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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Stock Market Updates

BAJAJ AUTO plunges by 5%; BSE AUTO Index Down 1.2% (Today's Market)

Jul 23, 2018 12:36 PM

BAJAJ AUTO share price has plunged by 5% and its Current Market Price is Rs 2,854. The BSE AUTO is down by 1.22%. The top gainers in the BSE AUTO Index are ASHOK LEYLAND (up 1.35%) and CUMMINS INDIA (up 0.56%). The top losers are BAJAJ AUTO (down 5.34%) and HERO MOTOCORP (down 8.04%).

The BSE FMCG Index has hit an all-time high at 11,609 (up 2.0%) (Today's Market)

Jul 23, 2018 10:30 AM

The BSE FMCG Index has hit an all-time high at 11,609 (up 2.0%). Among the top gainers in the BSE FMCG Index today are VST INDUSTRIES and GODFREY PHILLIPS. Meanwhile, the BSE Sensex has surged 0.13% to 36,631.

Sensex Opens Marginally Higher; Asian Paints & ITC Top gainers (Today's Market)

Jul 23, 2018 09:30 am

Indian share markets open marginally higher with Sensex trading up by 74 points, while the Nifty is trading up by 28 points.

WIPRO plunges by 5%; BSE IT Index Up 0.1% (Today's Market)

Jul 23, 2018 09:29 AM

WIPRO share price has plunged by 5% and its Current Market Price is Rs 288. The BSE IT is up by 0.14%. The top gainers in the BSE IT Index are NIIT LTD (up 1.27%) and HCL TECH. (up 1.24%). The top losers are WIPRO (down 5.32%) and 8K MILES SOFT (down 10.00%).

JUBILANT FOODWORKS plunges by 6%; BSE 500 Index Up 0.4% (Today's Market)

Jul 23, 2018 09:29 AM

JUBILANT FOODWORKS share price has plunged by 6% and its Current Market Price is Rs 1,490. The BSE 500 is up by 0.40%. The top gainers in the BSE 500 Index are PC JEWELLER (up 10.74%) and UPL LIMITED (up 7.70%). The top losers are JUBILANT FOODWORKS (down 6.10%) and WIPRO (down 5.32%).

PC JEWELLER surges by 12%; BSE 500 Index Up 0.4% (Today's Market)

Jul 23, 2018 09:25 AM

PC JEWELLER share price has surged by 12% and its Current Market Price is Rs 94. The BSE 500 is up by 0.37%. The top gainers in the BSE 500 Index is PC JEWELLER (up 12.33%). The top losers are VA TECH WABAG (down 0.01%) and GLENMARK PHARMA (down 0.03%).

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