Mutual Fund SIP Investments in November, Falling Crude Oil Prices, and Buzzing Stocks Today

Thu, 17 Dec Pre-Open

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Indian share markets ended higher yesterday.

Benchmark indices scaled fresh peaks yesterday with the BSE Sensex rising over 400 points amid positive investor sentiment over roll-out of Covid-19 vaccines.

Sentiment also got a boost after S&P Global Ratings on Tuesday raised India's growth projection for the current fiscal to (-)7.7% from an (-)9% estimated earlier.

At the closing bell yesterday, the BSE Sensex stood higher by 403 points (up 0.9%).

The NSE Nifty closed higher by 115 points (up 0.9%).

HDFC and ONGC were among the top gainers.

Both, the BSE Mid Cap index and the BSE Small Cap index ended up by 0.9%.

On the sectoral front, gains were largely seen in the realty sector and metal sector.

Shares of real estate companies continued their upward trend, with the Nifty Realty index surging 4% on hopes of revival in demand.

Shares of Godrej Properties and Nestle India hit their respective 52-week high yesterday.

Gold prices were trading up by 0.7% at Rs 49,809 per 10 grams at the time of closing stock market hours yesterday.

To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

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In the video below, Brijesh talks about how you can select stocks based on rising and falling commodity prices and how this process can help you improve your stock selection process.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Biocon Biologics.

Biocon Biologics, a subsidiary of Biocon, signed a Memorandum of Understanding (MoU) with the Christian Social Services Commission (CSSC), a faith-based organization active in Africa, to provide affordable access to quality insulin in the region.

Mahindra & Mahindra (M&M) share price will also be in focus as the company announced that it will increase the price of its passenger vehicles (PVs) and commercial vehicles (CVs) from January 1, 2021, in order to partially offset the impact of rise in input costs.

M&M said the price hike has been necessitated due to the increase in commodity prices and various other input costs.

Note that earlier this month, the country's largest carmaker Maruti Suzuki had also announced that it will be increasing prices across its model range from January 2021.

The automaker said that cost of vehicles severely impacted due to various input costs and it's necessary to pass on some of the impacts to customers.

Market participants will also track Majesco share price as the company's 19,480% interim dividend is the highest payout ever by an Indian firm.

On December 15, Majesco declared an interim dividend of Rs 974 per share. The dividend was slightly higher than the small-sized technology company's previous day's closing price of Rs 972.

The high dividend payout follows the sale of US arm, which accounted for the bulk of its revenues and profits, to private equity firm Thoma Bravo earlier this year.

Majesco has also launched a Rs 6.3 billion share buyback programme, which will conclude by the end of this month. Both the buyback and the dividend are the ways to return the cash it generated from the sale of US arm.

Crude Oil Prices Fall on Surprise Rise in US Inventories

In news from the commodity space, crude oil prices fell yesterday on a surprise gain in crude oil inventories in the United States and on persistent investor worries about demand for fuel being squeezed amid tighter lockdowns in Europe to counter the coronavirus pandemic.

Crude inventories swelled by 2 million barrels in the week to December 11 to about 495 million barrels, according to industry group API.

The International Energy Agency (IEA) revised down its estimates for oil demand this year by 50,000 barrels per day (bpd) and for next year by 170,000 bpd, citing scarce jet fuel use as fewer people travel by air.

Earlier this week, crude oil prices rose above US$ 50 as optimism from the roll-out of coronavirus vaccines balanced out tighter lockdowns in Europe and forecasts of a slower demand recovery.

Crude oil prices have recovered in the past few weeks, with Brent crude reaching US$ 51.06 on December 10, its highest since March, supported by hopes of a recovery in demand.

Note that the coronavirus pandemic, coupled with the collapse of an OPEC-led output pact sent crude oil prices crashing in March.

We are closely tracking this sector and will keep you updated on all the top news from this space. Stay tuned.

Mutual Fund SIP Investments Drop to 31-Month Low in November

In news from the mutual funds space, investment in mutual funds through systematic investment plans dropped to a 31-month low of Rs 73 billion in November amid challenging economic environment.

Investment through the Systematic Investment Plans (SIPs) route had risen in October after six months of continuous decline.

Fund collection through SIP was Rs 77.9 billion in September and August while in July, it was 78.3 billion. It dropped below the Rs 80 billion-mark in June to Rs 79.2 billion.

The mutual fund industry witnessed an inflow to the tune of Rs 73 billion through SIPs in November as compared to Rs 78 billion in the preceding month, data from the Association of Mutual Funds in India (Amfi) showed.

This was the lowest-level since April 2018 when investment through the route was Rs 66.9 billion.

Reports stated that SIPs have fallen because investors want to maintain some kind of liquidity at their end as the current situation is uncertain when it comes to their jobs and businesses.

Reports also stated that since the last three days of November were non-business days, a significant amount of SIP flows might not be reflected in the official numbers.

Meanwhile, 3.39 lakh SIP accounts increased in November.

Note that, equity mutual funds, which mainly depends on SIP for flows, saw a an outflow of Rs 129.2 billion in November, making it the fifth straight month of withdrawal as investors booked profit amid higher market valuations.

Currently, mutual funds have over 34.1 million SIP accounts through which investors regularly invest in mutual fund schemes.

We will keep you updated on the latest developments from this space. Stay tuned.

And 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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