Indian Indices Finish Flat; Realty & Healthcare Stocks Witness Buying

Fri, 30 Nov Closing

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Indian share markets continued to trade on a positive note during closing hours of trade and ended the day on a flat note. Gains were seen in the realty sector, healthcare sector and IT sector, while oil & gas stocks and PSU stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 24 points (up 0.1%) and the NSE Nifty closed higher by 18 points (up 0.2%). The BSE Mid Cap index ended the day up 0.6% and the BSE Small Cap index ended the day up by 0.5%.

Speaking of small caps, it's interesting to see how the BSE Smallcap index has performed during the years. Have a look at the chart below:

The Smallcap Index Is Up Merely 1% from Its 2008 Top

On 7 January 2008, at the height of the previous bull run, the Smallcap index hit a high of 13,975. In the market crash that followed, the index hit a low of 2,867 on 9 March 2009. In other words, the Smallcap index tanked a whopping 79%!

Ankit Shah shares an interesting observation around this data. Here's him in a recent edition of The 5 Minute WrapUp...

• From its 2009 low, the BSE SmallCap index has risen 391%, compounding at an annual rate of 18%.
  
  But here's the most telling observation...
  
  From its January 2008 peak to now, the BSE SmallCap index has gained just 0.8%.
  
  If you factor in inflation, the returns are actually negative.
  
  In other words, investors who bought smallcap stocks at market peaks and didn't go bargain hunting in the subsequent crashes didn't make any money.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 0.2% and the Shanghai Composite was up by 0.8%. The Nikkei 225 was up 0.4%.

In the news from the economy, the rupee climbed 21 paise to hit a three-month high of 69.64 against the US$ amid weakness against overseas currencies.

On Thursday, the rupee gained 77 paise to hit a three-month high of 69.85.

The rupee also gained momentum following easing crude oil prices, which slipped below $60 as investors were concerned over a supply glut.

This is a big reversal for the rupee which had hit a record low of 74.48 against the US$ on October 11.

At the time of writing, the rupee was trading at 69.90 against the US$.

Also, speaking of rupee, note that the Indian rupee is the worst performer in Asia in 2018.

Here's what we wrote about rupee and its repercussions in one of the edition of The 5 Minute WrapUp...

• The rupee is under pressure due to a strong dollar and high oil prices. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey is weighing on the rupee.
  
  The falling rupee is also triggering sales of bonds and stocks, which in turn is further pressuring the rupee.
  
  Nevertheless, last week, the government announced several measures. This includes cutting down non-necessary imports, removal of withholding tax on rupee-denominated bonds, and easing overseas borrowing norms.
  
  That said, in the near term, the rupee being under pressure could benefit export-oriented businesses.

Moving on to the news from the pharma space, Lupin share price witnessed buying interest today.

Reportedly the company has launched Nystatin and Triamcinolone Acetonide Cream USP 100,000 units/gm; 0.1%, having received an approval from the United States Food and Drug Administration (USFDA) earlier.

Nystatin and Triamcinolone Acetonide Cream had annual sales of $54.3 million in the US as per IQVIA MAT September 2018.

The company's Nystatin and Triamcinolone Acetonide Cream USP 100,000 units/gm; 0.1% is the generic equivalent of Taro Pharmaceuticals' Nystatin and Triamcinolone Acetonide Cream. It is indicated for the treatment of cutaneous candidiasis.

Lupin share price ended the day up by 1.7%.

You can read Lupin Q2FY19 result analysis and Lupin annual report on our website.

To know more on what moved the Indian stock markets today, you can 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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