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SGX Nifty Down 53 Points, Rising Mutual Fund Investments, HDFC Bank June Quarter Numbers, and Top Buzzing Stocks Today
Tue, 7 Jul Pre-Open | Monish Vora, TM Team

Indian share markets ended on a strong note yesterday, driven by automobile stocks and index heavyweight Reliance Industries.

Extending gains to the fourth consecutive session, benchmark indices climbed to four-month highs tracking gains in Asian peers.

The optimism surrounding vaccine research also lifted market sentiment. Last week, Bharat Biotech in collaboration with the Indian Council of Medical Research and National Institute of Virology began human trials of Covaxin, India's first indigenous vaccine for coronavirus.

Meanwhile, recent economic data indicated that the worst is over, and the economic activity is stabilizing.

At the closing bell yesterday, the BSE Sensex stood higher by 466 points (up 1.3%).

Meanwhile, the NSE Nifty closed higher by 156 points (up 1.5%).

The BSE Mid Cap index ended up by 1.2%, while the BSE Small Cap index ended up by 1.3%.

On the sectoral front, gains were largely seen in the energy sector and auto sector.

At 8:10 am today, the SGX Nifty was trading down by 53 points, or 0.49% lower at 10,713 levels. Indian share markets are headed for a negative opening today following the negative trend on SGX Nifty.

Speaking of the current stock market scenario, have a look at the chart below which shows how the BSE Sensex and the smallcap index have moved over the past one year:

The markets are coming out of the deep fall. An important driver of this rally is the increasing inflow from foreign institutional investors now that the global economies have opened the liquidity tap.

In her latest video, Richa Agarwal, editor of our premium smallcap service Hidden Treasure, shares her thoughts on what this could mean for the rebound in smallcaps and how to make the most of it.

Tune in to find out more...

Top Stocks in Focus Today

Maruti Suzuki will be among the top buzzing stocks today.

As per an article in a leading financial daily, Maruti Suzuki is seeing better demand in rural areas due to a smaller number of COVID-19 cases as compared with urban regions which continue to reel under the high number of cases of the infectious disease.

Buying sentiment in rural areas is also better due to good initial spell of rains in June which has led to a better sowing of the kharif crop.

In June, the company reported a 53.7% dip in domestic sales at 53,139 units as against 1,14,861 units in June 2019. The company's sales were, however, better than May, when it had posted domestic sales of 13,888 units.

From the banking sector, market participants will track HDFC Bank today.

HDFC Bank reported a strong loan growth of 21% year-on-year (YoY) at Rs 1.04 trillion for the first quarter of financial year 2020-21 (Q1FY21).

In an exchange filing, the private lender said that the bank's advances aggregated to approximately Rs 1.04 trillion as of June 30, 2020, a growth of around 21% as compared to Rs 83 billion as of June 30, 2019.

The bank's deposit accretion remained healthy at 25% YoY at Rs 1.19 trillion. Current Account Savings Account (CASA) ratio was up 30 basis points YoY to around 40% as of Q1FY21.

During the quarter, the bank purchased loans aggregating Rs 13.8 billion through the direct assignment route under the home loan arrangement with HDFC.

Sobha share price will also be in focus today as the company issued an operational update for the first quarter of the financial year 2020-21.

The company clocked a 70% jump in sales volume during Q1FY21 as compared to Q4FY20.

The company posted its highest-ever income, sales volume and collections during FY20 despite challenges thrown by Covid-19 during last fortnight of the fourth quarter.

MF Investment in Stock Markets Rises by Four Times

Mutual funds net invested nearly Rs 395 billion in the stock markets in the first six months of 2020, more than four times the amount infused in the year-ago period.

The rise came on the back of volatility and correction in the broader markets provided a good investment opportunity for investors.

Further, consistent SIP (systematic investment plan) inflows into equity funds gave fund managers a healthy stream of capital to keep buying quality companies.

Overall, mutual funds (MFs) have made a net investment of Rs 394.8 billion in stocks during January-June 2020, much higher than the Rs 87.4 billion invested in the first six months of 2019.

Meanwhile, here's an interesting data reported by Economic Times recently.

Nearly,1.2 million new demat accounts were opened in the month of March and April during the lockdown.

Most people are drawn to trading because of the availability of free time during the lockdown. It doesn't take much of an effort to enter the markets. But it would take hell of an effort to survive and profit from the market.

If you are one of those new to trading, and if you want to learn more about using technical analysis and charts to improve your trading, then read this free article here: The Secret to Success in Intra-Day Trading.

IPOs Worth US$ 2.08 Million Listed in June Quarter

In latest developments from the IPO space, India witnessed four initial public offerings (IPOs) worth US$ 2.08 million in the three months ended June 2020 as the coronavirus pandemic impacted economic activities, according to an EY India report.

All the IPOs were in the Small and Medium Enterprises (SMEs) segment and the median deal size was US$ 0.38 million.

In the SME market, there were four IPOs versus 14 and 11 in Q2 2019 and Q1 2020, respectively.

About April-June period, the report said that consumer products & retail, and diversified industrial products were the active sectors in terms of the number of IPOs. Each sector had two IPOs on the SME market and they were worth around US$ 2.08 million.

Laxmi Goldorna House, Nirmitee Robotics India, Billwin Industries and DJ Mediapoint & Logistics came out with their IPOs during the June quarter.

In other news, Mumbai-based specialty chemicals maker Rossari Biotech is preparing to debut on the stock exchanges, potentially ending the over 3-month IPO interruption triggered by the coronavirus lockdown.

Reports state that business has boomed for Rossari Biotech during the Covid-19 phase due to rising demand for disinfectants and sanitisers manufactured by the firm.

Post the final approval from markets regulator for revised documents with updated financials, the plan is to launch the IPO in a few weeks by mid or end July.

Reportedly, the total size of the IPO is likely to be around Rs 3 billion and it will be a mix of primary and secondary issues of shares.

The company filed its DRHP (draft red herring prospectus) with the regulator in December 2019 and originally intended to launch its IPO on March 18, 2020. It later called off the plans due to unfavourable market conditions.

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

TUBE INVESTMENTS OF INDIA LTD Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Aug 7, 2020 03:34 PM

TUBE INVESTMENTS OF INDIA LTD share price is trading up by 5% and its current market price is Rs 558. The BSE CAPITAL GOODS is up by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are TUBE INVESTMENTS OF INDIA LTD (up 5.2%) and HONEYWELL AUTOMATION (up 14.2%). The top losers are V GUARD INDUSTRIES (down 0.2%) and SKF INDIA (down 0.3%).

BANK OF BARODA Share Price Up by 5%; BSE BANKEX Index Up 0.4% (Today's Market)

Aug 7, 2020 03:34 PM

BANK OF BARODA share price is trading up by 5% and its current market price is Rs 49. The BSE BANKEX is up by 0.4%. The top gainers in the BSE BANKEX Index are BANK OF BARODA (up 5.1%) and RBL BANK LTD (up 9.7%). The top losers are AXIS BANK and SBI (down 0.2%).

ADANI TRANSMISSION Share Price Up by 9%; BSE POWER Index Up 1.4% (Today's Market)

Aug 7, 2020 03:34 PM

ADANI TRANSMISSION share price is trading up by 9% and its current market price is Rs 254. The BSE POWER is up by 1.4%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 9.0%) and JSW ENERGY (up 5.3%). The top losers are NTPC (down 0.3%) and KALPATARU POWER (down 0.5%).

ESSEL PROPACK Share Price Down by 5%; BSE 500 Index Up 0.3% (Today's Market)

Aug 7, 2020 03:14 PM

ESSEL PROPACK share price is trading down by 5% and its current market price is Rs 275. The BSE 500 is up by 0.3%. The top gainers in the BSE 500 Index are HONEYWELL AUTOMATION (up 11.7%) and RBL BANK LTD (up 10.0%). The top losers are ESSEL PROPACK (down 5.0%) and LUPIN (down 6.0%).

EMAMI LTD Share Price Up by 6%; BSE FMCG Index Up 0.8% (Today's Market)

Aug 7, 2020 02:26 PM

EMAMI LTD share price is trading up by 6% and its current market price is Rs 254. The BSE FMCG is up by 0.8%. The top gainers in the BSE FMCG Index are EMAMI LTD (up 6.2%) and GSK CONSUMER (up 5.1%). The top losers [TOPLOSERS].

Sensex Trades Marginally Lower; HCL Technologies & Infosys Top Losers (Today's Market)

Aug 7, 2020 12:30 pm

The BSE Sensex is trading down by 83 points, while the NSE Nifty is trading down by 18 points.

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