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Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Sensex Ends 274 Points Lower; IT and Energy Stocks Witness Selling
Wed, 21 Nov Closing | Monish Vora, TM Team

Share markets in India continued to witness selling pressure during closing hours and ended their trading session on a negative note. Sectoral indices ended on a negative note with stocks in the IT sector and energy sector witnessing most of the selling pressure.

At the closing bell, the BSE Sensex stood lower by 274 points (down 0.8%) and the NSE Nifty closed down by 56 points (down 0.5%). The BSE Mid Cap index ended the day up 0.6%, while the BSE Small Cap index ended the day up 0.1%.

The rupee was trading at 71.29 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.5% and the Shanghai Composite was up by 0.2%. The Nikkei 225 was down 0.4%.

Note that while the markets are witnessing a correction lately, the SIP flows in to Indian stock markets are on the rise. Have a look at the chart below. It plots the month SIP contributions over the 31-month period between April 2016 and October 2018.

SIPs Continue to Rise Despite Market Correction

During the above period, SIP contributions have grown from Rs 3,122 crore in April 2016 to Rs 7,985 crore in October 2018, growing at compounded annual rate of 46%.

Currently, there are about 2.49 crore SIP accounts through which investors regularly invest in various Indian mutual fund schemes. As per AMFI data, the mutual fund industry added an average of about 10.05 lakh SIP accounts each month during the financial year 2018-19, with an average SIP size of about Rs 3,200 per SIP account.

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Here's what Ankit wrote about it in one of the recent editions of The 5 Minute WrapUp...

  • As I've shown you some of my earlier editorials (here, here and here), there's a structural change in the Indian stock markets. Domestic investors have emerged as key players in the Indian markets.

    But there are a few questions that need to be answered...

    Is this flood of domestic liquidity entering the markets a temporary fad? Or is there some element of long-term sustainability to it?

    To answer these questions, the most reliable piece of data is SIP flows.

    First, let me quickly explain what SIP is all about.

    SIP stands for Systematic Investment Plan. It is an investment plan offered by mutual funds wherein one can periodically invest a fixed amount in a mutual fund scheme. It is similar to a recurring deposit wherein you deposit a certain amount every month.

    SIP is a convenient method of investing in mutual funds through standing instructions to debit your bank account every month.

    This not only saves you a lot of hassle, it also helps in averaging your costs and investing in a disciplined manner without worrying about timing the market.

    For these reasons, SIPs have been gaining popularity among Indian mutual fund investors.

    The liquidity pouring into the markets through SIPs is relatively stable, reliable, and long-term money.

If the trend in SIP inflows remains steady, it will provide the much-needed buoyancy to the Indian markets which have been witnessing an exodus of foreign investors.

In the news from the aviation sector, Jet Airways share price was in focus today. The stock of the company witnessed buying interest today on the back of falling crude oil prices and also after the company said it is in talks to secure sustainable financing for its operations and growth.

Note that last month reports stated that Jet Airways is trimming its workforce and operations further as it struggles through its financial crisis.

As per a leading financial daily, at least 15 people at manager or general manager level in departments such as engineering, security and sales have been asked to leave in October. It is also reported that the airline has grounded eight of its planes at the Mumbai and Chennai airports.

The company had also deferred announcing the June quarter numbers to an unspecified late date.

Amid rising concerns over the airline's financial health and proposed salary reductions for employees, Jet Airways chairman said a new committee would be set up to improve public perception.

Later, the company reported a whopping Rs 13.2 billion of net losses for the June quarter due to higher fuel cost, falling rupee and low fares. The company said it will monetize loyalty programme JetPrivilege and wet-lease some of its small aircraft to mobilise urgent working capital.

This was the second straight quarter of losses for the Naresh Goyal-run airline, which had last month publicly admitted to cash-flow issues. The airline had booked net profit of Rs 535 million in the year-ago period, while in the March quarter it had reported net losses of Rs 10.4 billion.

The airline said its fuel cost soared 53% to Rs 23.3 billion in the quarter, while low fares had revenue inching up to Rs 60.7 billion from Rs 59.5 billion.

On a consolidated basis, the net loss stood at Rs 13.3 billion, against a net profit of Rs 580 million a year ago.

The second back-to-back quarterly loss forced Jet Airways, which delayed the result announcement on August 9 indefinitely, to announce a turnaround plan which includes a capital infusion by selling a stake in JetPrivilege, and a massive cost-cutting to save around Rs 20-billion over the next two years.

To know more about the company, you can access to Jet Airways' latest result analysis and Jet Airways' 2017-18 Annual Report Analysis on our website.

From the pharma space, Dr Reddy's share price was also in focus today as a court ruling allowed the company to sell a generic of Indivior Plc's opioid treatment drug Suboxone in the US.

The US court appeals for the Federal Circuit which were set aside yesterday blocked Dr. Reddy's from selling the generic in the country. The market comprising drugs that treat opioid abuse in the US during the past 12 months is worth US$ 2.8 billion.

To know more about the company, you can check Dr Reddy's Q2FY19 result and Dr Reddy's annual report on our website.

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

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

GODREJ AGROVET Share Price Up by 9%; BSE FMCG Index Down 0.1% (Today's Market)

May 12, 2021 12:14 PM

GODREJ AGROVET share price is trading up by 9% and its current market price is Rs 577. The BSE FMCG is down by 0.1%. The top gainers in the BSE FMCG Index are GODREJ AGROVET (up 8.5%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.2%) and ITC (down 0.2%).

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

May 12, 2021 09:36 AM

SIEMENS share price has hit an all time high at Rs 2,096 (up 7.5%). The BSE CAPITAL GOODS Index is up by 0.7%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 7.5%) and HONEYWELL AUTOMATION (up 0.1%). The top losers include CARBORUNDUM UNIVERSAL (down 0.1%) and SCHAEFFLER INDIA (down 0.4%).

CADILA HEALTHCARE at All Time High; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:36 AM

CADILA HEALTHCARE share price has hit an all time high at Rs 640 (up 1.1%). The BSE HEALTHCARE Index is down by 0.1%. Among the top gainers in the BSE HEALTHCARE Index today are CADILA HEALTHCARE (up 1.1%) and ABBOTT INDIA . The top losers include TORRENT PHARMA (down 0.1%) and SANOFI INDIA (down 0.1%).

BLISS GVS PHARMA Share Price Down by 6%; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:34 AM

BLISS GVS PHARMA share price is trading down by 6% and its current market price is Rs 124. The BSE HEALTHCARE is down by 0.1%. The top gainers in the BSE HEALTHCARE Index are SUN PHARMA ADV. RES. (up 2.0%) and AJANTA PHARMA (up 1.9%). The top losers are BLISS GVS PHARMA (down 5.6%) and DISHMAN CARBOGEN AMCIS (down 7.8%).

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