Indian Indices Trade Marginally Higher; FMCG Stocks Witness Buying

Mon, 11 Dec 11:30 am

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Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a positive note with stocks in the healthcare sector and FMCG sector witnessing maximum buying interest.

The BSE Sensex is trading up 122 points (up 0.4%) and the NSE Nifty is trading up 35 points (up 0.3%). The BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.5%. The rupee is trading at 64.36 to the US dollar.

As per an article in the Economic Times, foreign investors have pulled out more than Rs 40 billion from India's stock market this month so far.

This was seen mainly on the back of rising crude oil prices and widening fiscal deficit.

The above outflow followed an inflow of Rs 197 billion in November, mainly due to the government's plan to recapitalize PSU banks and surge in India's ranking in the World Bank's ease of doing business.

In the news from cryptocurrency space, the first-ever Bitcoin future began trading Sunday as the increasingly popular virtual currency made its debut on a major US exchange.

The futures contract expiring in January rose from US$ 15,460 to US$ 16,000 in its first hours of trading on the Chicago Board Options Exchange.

Bitcoin and cryptocurrencies are a curious bunch. They have no central bank backing and have not yet been regulated. Yet, these seem to have found favour among a large number of people, with demand growing every day. There are over 800 cryptocurrencies in existence today, with new ones being added to the list every day.

While the world of digital currencies is intriguing, it can get very confusing for the layman. Our team member, Ankit Shah, Research Analyst, has decided to study cryptocurrencies and help our readers understand them.

Here's Ankit's take in a recent edition of Equitymaster Insider:

• I've been studying and tracking bitcoin for a while, and though I still understand very little about it, I believe that it is a revolutionary technology that could transform a range of businesses and money itself. It would be naive to dismiss it as a passing fad.
  
  I want my readers to be on top of the biggest megatrends in the global economy. So, you can expect to hear about bitcoin whenever there is an important update or insight.

Ankit has also released a premium guide for Equitymaster Insider subscribers, titled Bitcoin 101 which contains everything you need to know about bitcoins and other digital currencies.

If you haven't been receiving Ankit's insights, get on the Insider's list now.

In the news from the IPO space, as per a leading financial daily, ICICI Securities has hired Bank of America Merrill Lynch, Citigroup, Citi, CLSA, Edelweiss and IIFL Holdings for a Rs 20 to Rs 30 billion IPO planned for launch early next year.

The company is said to file the draft prospectus for its IPO this month.

Meanwhile, Gujarat-based kraft paper manufacturer, Astron Paper and Board Mill, on Thursday announced that it will be launching its IPO next week.

The issue will open on December 15, 2017 and will close on December 20, 2017. The company has set a price band of Rs 45-50 per equity share for the same.

Speaking of IPOs, the demand for IPO's has reached sky-high levels. Avenue Supermarts was the first company this year to cross the 100-time subscription mark swiftly followed by CDSL and Dixon technologies lately, with MAS Financial Services being the newest entrant to the list..

IPO Subscription Times (2017)

This euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

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 than not.

To know more, download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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