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Sensex Ends 157 Points Higher; Metal and Power Stocks Rally
Wed, 26 Jun Closing | Monish Vora, TM Team

Indian share markets traded on a positive note most of the day and ended higher. Gains were largely seen in the metal sector, power sector and realty sector, while IT stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 157 points (up 0.4%) and the NSE Nifty closed higher by 51 points (up 0.4%). The BSE Mid Cap index ended the day up 0.8% and the BSE Small Cap index ended the day up by 0.5%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 1.2% and the Shanghai Composite was down by 0.9%. The Nikkei 225 was down 0.4%.

Speaking of Indian share markets, when it comes to stock market performance, multinational corporations (MNCs) have outperformed the broader market.

The Nifty has a MNC index. This index comprises 15 listed companies. The foreign shareholding in them is over 50% and/or the management control is vested in the foreign company.

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As can be seen in the chart below, this Nifty MNC Index has outperformed the Nifty 50 index in the last five years.

Nifty MNC Index Outperforms the Benchmark Index

Nifty MNC Index Outperforms the Benchmark Index

Why the outperformance?

Sarvajeet Bodas answers this question in the recent edition of The 5 Minute WrapUp. He writes...

  • Generally, MNCs have a vast global experience. These companies have weathered the competition in many markets across the world.

    Also, MNCs generally have strong parentage. This helps create strong brands and gain market share.

    Not to mention MNCs have strong balance sheets. This brings stability during times of market volatility.

    Similarly, in the past, MNCs have demonstrated good capital allocation. Hence they, consistently delivered high returns on capital.

    Finally, MNCs typically have high standards when it comes to board composition, corporate governance, and operational efficiency. All this helps to maximise shareholder wealth.

In Smart Money Secrets, we have recommended such a company from the MNC space.

If you haven't subscribed to Smart Money Secrets yet, you can access the report by signing up here.

In the news from energy sector, NTPC share price was in focus today. The stock of the company witnessed buying interest today after the company announced it had won solar energy projects by UPNEDA.

The state-run power major said it has won 40 megawatt (MW) solar energy projects in an auction conducted by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).

The projects shall be set up under EPC (engineering, procurement and construction) mode and shall add to the installed capacity of NTPC.

In the news from the commodity space, crude oil continued its momentum seen this week and witnessed buying interest today.

Oil prices rose over 1% today to hit their highest in nearly a month as widely-watched data showed US crude stockpiles fell more than expected.

As per the data, US crude stockpiles dropped by 7.5 million barrels in the week ended June 21 to 474.5 million. This compared with analyst expectations for a decrease of 2.5 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels.

Gains were also seen on the back of tensions between Iran and the United States.

Earlier this week, US Secretary of State Mike Pompeo said significant sanctions on Tehran would be announced soon which will be aimed at further choking off resources that Tehran uses to fund its activities in the region.

Market participants will be closely tracking crude oil prices in the coming weeks ahead of the OPEC meet.

The members of the Organization of the Petroleum Exporting Countries (OPEC) have agreed to meet on July 1, followed by a meeting with non-OPEC allies on July 2 where they will discuss whether to extend a deal on cutting 1.2 million barrels per day of oil production that runs out this month.

We will keep you updated on all the developments from this space. Stay tuned.

To know more on crude oil, you can read one of Vijay Bhambwani's recent articles: Is OPEC Dying?

And 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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Stock Market Updates

Sensex Ends 178 Points Higher; Telecom and Power Stocks Witness Buying (Today's Market)

Jul 3, 2020 Closing

Indian share markets end on a positive note with the Sensex up by 178 points, while the Nifty closed up by 56 points.

SIEMENS Share Price Up by 5%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Jul 3, 2020 03:27 PM

SIEMENS share price is trading up by 5% and its current market price is Rs 1,154. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are SIEMENS (up 5.2%) and HINDUSTAN AERONAUTICS (up 10.3%). The top losers are HAVELLS IND (down 0.3%) and V GUARD INDUSTRIES (down 0.6%).

BHEL Share Price Up by 5%; BSE CAPITAL GOODS Index Up 1.7% (Today's Market)

Jul 3, 2020 03:01 PM

BHEL share price is trading up by 5% and its current market price is Rs 39. The BSE CAPITAL GOODS is up by 1.7%. The top gainers in the BSE CAPITAL GOODS Index are BHEL (up 5.4%) and HINDUSTAN AERONAUTICS (up 10.8%). The top losers are HAVELLS IND (down 0.2%) and SADBHAV ENGINEERING (down 0.2%).

HINDUSTAN AERONAUTICS Share Price Up by 12%; BSE 500 Index Up 0.5% (Today's Market)

Jul 3, 2020 02:29 PM

HINDUSTAN AERONAUTICS share price is trading up by 12% and its current market price is Rs 862. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are HINDUSTAN AERONAUTICS (up 11.6%) and BHARAT DYNAMICS (up 11.7%). The top losers are VST INDUSTRIES and 3M INDIA .

JINDAL SAW LTD Share Price Up by 5%; BSE METAL Index Down 0.5% (Today's Market)

Jul 3, 2020 02:15 PM

JINDAL SAW LTD share price is trading up by 5% and its current market price is Rs 62. The BSE METAL is down by 0.5%. The top gainers in the BSE METAL Index is JINDAL SAW LTD (up 5.3%). The top losers are VEDANTA LTD (down 0.3%) and HINDUSTAN ZINC (down 0.4%).

Sensex Trades in Green; Bajaj Auto & Bharti Airtel Top Gainers (Today's Market)

Jul 3, 2020 12:30 pm

The BSE Sensex is trading up by 189 points, while the NSE Nifty is trading up by 58 points.

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