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Nifty Hits Fresh Record High; Sensex Up Over 200 Points

Wed, 8 Aug 12:30 pm

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After opening the day marginally higher, stock markets in India witnessed buying interest and went on to scale their record-high levels. Sectoral indices are trading on a positive note with stocks in the energy sector and consumer durables sector witnessing maximum buying interest.

The BSE Sensex is trading up 202 points (up 0.5%). The NSE Nifty hit a new record high of 11,446 and is presently trading up 52 points (up 0.5%). The BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at 68.64 to the US$.

Speaking of rising markets, In June 2016, when Sensex was trading at around 27,000 mark, Tanushree shared with her subscribers a report on why Sensex could go up to 40,000.... And the four safe stocks that one could count on to create permanent wealth.

Sensex is close to that mark now. But the way Tanushree sees things now, the Sensex is on its way to hit 100,000 mark by the next decade.

That said, she believes it's not going to be a continuous joy ride. In fact, a majority of these gains will be led by stocks outside of the Sensex.

How can regular investors make sure NOT to miss this ride?

So Tanushree created a blueprint of stocks that will create permanent wealth for her subscribers.

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Moving on to the news from global financial markets, the Trump administration today announced that it would impose 25% tariffs on imports of 279 items from China amounting to US$ 16 billion.

The US Trade Representative said that the move is a part of the US' response to China's unfair trade practices related to the forced transfer of American technology and intellectual property.

This is the second tranche of such tariffs and is set to come into effect on August 23.

US had already imposed tariffs on US$ 34 billion worth of goods on July 6 but held off on a final US$ 16 billion in goods as a result of concerns from US companies.

How this trade war pans out remains to be seen. Meanwhile, we will keep you updated from all the developments from this space.

In the news from initial public offering (IPO) space, the IPO of CreditAccess Grameen is set to kick off today. The issue size of this IPO is about 26.8 million shares, which includes 11.8 million shares issued by the promoter CreditAccess Asia N.V. and a fresh offer of shares of up to Rs 6.3 billion.

The price brand for the IPO is in the range of Rs 418 to Rs 422 per share. This makes the CreditAccess Grameen IPO issue size between Rs 11.2 billion and Rs 11.3 billion.

CreditAccess Grameen, a leading microfinance institution in India, is focused on providing micro-loans, especially to the women customers in rural India. The lending products of the company address the financial needs of the customers throughout their lifecycle. This includes income generation, family welfare, home improvements, and loans for emergencies.

The customer segment they mainly focus on is women with an annual household income of Rs 160,000 or less in urban areas and Rs 100,000 or less in rural areas. The company provides loans primarily under the joint liability group (JLG) model.

To know more about the company, you can read our IPO analysis of CreditAccess Grameen Ltd (requires subscription).

Speaking of IPOs, the stock market is gearing up for a burst of IPO activity over the next two months.

Also, according to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$ 3.9 billion in the first half of this year.

Meanwhile, the amount raised by SME IPOs in 2017 stood at Rs 17.9 bn. This is more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132. This is evident from the chart below:

SME IPO Boom in 2017

So how should one approach to IPOs? We believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

Also, to know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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