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Sensex Trades Marginally Higher; L&T and Sun Pharma Top Gainers
Fri, 14 Aug 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a bullish note, led by gains in index-heavyweights Reliance Industries, Infosys and L&T, and amid mixed global equities.

Market participants are awaiting the SC hearing on telcos' AGR dues, scheduled for later in the day.

The BSE Sensex is trading up by 118 points, up 0.3%, at 38,400 levels.

Meanwhile, the NSE Nifty is trading up by 33 points.

The BSE Mid Cap index is trading up by 0.4%.

The BSE Small Cap index is trading up by 0.7%.

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On the sectoral front, gains are largely seen in the healthcare sector and energy sector.

Automobile stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 74.76 against the US$.

Gold prices are trading down by 0.8% at Rs 52,521 per 10 grams.

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In news from the automobile sector, Hero MotoCorp is among the top buzzing stocks today.

Shares of the company fell as much as 2% today after the two-wheeler maker reported a 95% year-on-year (YoY) decline in consolidated net profit at Rs 577.8 million for the quarter ended June 30 (Q1FY21), on account of lower sales due to Covid-19 pandemic.

Total income during the quarter under review declined to Rs 31.2 billion as compared with Rs 84.1 billion in the year-ago period.

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The two-wheeler major sold a total of 565,000 units of motorcycles and scooters in the first quarter of fiscal 2020-21 as compared with 1.843 million units in the same period of FY20.

"The Covid-19 period has been an unprecedented challenge for the automotive industry, as indeed for several other sectors and economies around the world," the company's CFO Niranjan Gupta said.

The company is already seeing green shoots, and expects them to sustain and get stronger as it moves toward the festive season, he added.

The company further added that about 95% of its customer touch points were fully operational and the company's eight production facilities, six in India and two abroad have resumed manufacturing.

Hero MotoCorp share price is presently trading down by 0.7%.

Moving on to news from the mutual funds space, as per a leading financial daily, the recent decline seen in equity inflows could push up the asset size required by asset management companies to break even.

In June, equity inflows tapered to Rs 2.4 billion, while July saw outflows of Rs 24.8 billion, the first time in four years.

Reports state that the big reason behind this was profit booking and redemption pressure as the market rallied 50% from March lows.

The industry's assets under management (AUM) have grown substantially spurred by retail participation via systematic investment plans (SIPs), especially after demonetisation. The bulk of this growth has been driven by equity funds, which charge higher fees than debt and hybrid schemes.

The total expense ratio (TER) for such schemes can be 1.5-1.7% of AUM as against 0.1-1% for liquid or debt schemes.

According to a recent study by a consulting firm, breakeven AUM has risen to Rs 400-500 billion from Rs 100-150 billion a few years ago.

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In other news, Prashant Jain of HDFC Mutual Fund known for his inclination towards public sector stocks lapped up major IT and pharmaceutical companies in equity schemes in July.

The top stock bought by him in July was Yes Bank. According to a report, the AMC bought 163.5 million shares of the troubled bank last month.

Other stocks in the top five stocks bought during July were Wipro, Jindal Steel & Power, Tech Mahindra and Sun Pharma.

Top five shares sold by HDFC Mutual Fund were Vodafone Idea, Punjab National Bank, Reliance Industries, Bharti Infratel and BPCL.

Speaking of mutual funds, have a look at the chart below which shows recent net inflows into equity funds:

Investors did well to pour more money into stocks (via mutual funds) in April 2020 and thus, take advantage of the sharp correction.

However, it goes all downhill after that. Inflows fell in both May as well as June this year when stocks were still on sale.

In fact, they fell by a whopping 97% in June 2020.

How this trend pans out in coming months remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

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!

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Stock Market Updates

ASTER DM HEALTHCARE LTD Share Price Down by 5%; BSE HEALTHCARE Index Up 0.4% (Today's Market)

Sep 30, 2020 03:28 PM

ASTER DM HEALTHCARE LTD share price is trading down by 5% and its current market price is Rs 145. The BSE HEALTHCARE is up by 0.4%. The top gainers in the BSE HEALTHCARE Index are BLISS GVS PHARMA (up 6.5%) and NARAYANA HRUDAYALAYA LTD (up 3.6%). The top losers is ASTER DM HEALTHCARE LTD (down 5.2%)..

MPHASIS Share Price Up by 6%; BSE IT Index Up 0.3% (Today's Market)

Sep 30, 2020 03:26 PM

MPHASIS share price is trading up by 6% and its current market price is Rs 1,389. The BSE IT is up by 0.3%. The top gainers in the BSE IT Index is MPHASIS (up 5.7%). The top losers are HCL TECHNOLOGIES (down 0.1%) and INFOSYS (down 0.2%).

JSW ENERGY Share Price Down by 5%; BSE POWER Index Up 0.1% (Today's Market)

Sep 30, 2020 03:26 PM

JSW ENERGY share price is trading down by 5% and its current market price is Rs 60. The BSE POWER is up by 0.1%. The top gainers in the BSE POWER Index are SIEMENS (up 0.7%) and GMR INFRA (up 0.7%). The top losers is JSW ENERGY (down 5.1%).

ASTRAL POLY TECHNICK Share Price Up by 6%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Sep 30, 2020 03:20 PM

ASTRAL POLY TECHNICK share price is trading up by 6% and its current market price is Rs 1,222. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index is ASTRAL POLY TECHNICK (up 5.7%). The top losers are BHARAT ELECTRONICS (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

AIA ENGINEERING Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8% (Today's Market)

Sep 30, 2020 03:08 PM

AIA ENGINEERING share price is trading up by 5% and its current market price is Rs 1,851. The BSE CAPITAL GOODS is up by 0.8%. The top gainers in the BSE CAPITAL GOODS Index is AIA ENGINEERING (up 5.2%). The top losers are THERMAX (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

Indian Indices Trade on a Volatile Note; Tata Steel & ONGC Top Losers (Today's Market)

Sep 30, 2020 12:30 pm

The BSE Sensex is trading down by 37 points, while the NSE Nifty is trading down by 14 points.

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