Indian Indices End on a Flat Note; Metal & Auto Stocks Outperform

Fri, 22 Feb Closing

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Indian share markets traded range-bound throughout the day and ended their session on a flat note. Sectoral indices ended on a mixed note with stocks in the metal sector, realty sector and auto sector witnessing buying interest while banking stocks and finance stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood lower by 27 points and the NSE Nifty closed up by 2 points. The BSE Mid Cap index ended the day up by 0.4% and the BSE Small Cap index ended up by 0.8%.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 0.4% and the Shanghai Composite was down by 0.3%. The Nikkei 225 was up 0.2%.

The rupee is trading at 71.16 against the US$.

In the news from the commodity space, crude oil was witnessing selling pressure today.

Losses were seen after the United States reported its crude output hit a record 12 million barrels per day (bpd).

This data undermined the efforts made by Middle East dominated producer club Organization of the Petroleum Exporting Countries (OPEC) to withhold supply and tighten global markets.

From the engineering sector, BEML share price witnessed buying interest today after the company and US-based Lockheed Martin Aeronautics company signed a 'Certificate of Partnership'. The deal was signed at the ongoing AERO India 2019 in Bengaluru.

According to reports, the step opens up avenues for collaboration between the two companies to explore manufacturing of support equipment opportunities in aerospace.

BEML share price ended the day up by 4.4%.

To know more about the company, you can read BEML's latest result analysis and BEML Annual report analysis on our website.

Speaking of foreign players investing in India, many private equity funds have joined hands to increase their controlling stakes in Indian investments lately.

Here are some examples...

• A joint venture between Brookfield Asset Management Inc. and State Bank of India for distressed assets.
• The acquisition of a stake in Mankind Pharma by ChrysCapital, GIC and the Canada Pension Plan Investment Board.
• Resurgent Power Ventures Pvt. Ltd, a platform created by Tata Power and ICICI Venture, raising capital from Kuwait Investment Authority and State General Reserve Fund of Oman.

India Focused Global Funds Raising Top Dollar

Here's what Tanushree Banerjee, co-head of Research at Equitymaster, wrote about this in one of the recent editions of The 5 Minute WrapUp...

• Enticed by their long-term prospects, these funds are losing no time to enhance stake in their Indian investments.
  
  And this is possibly just the start.
  
  According to OECD, the 20 largest pension funds together hold about 43.2% of total global pension assets. Even if India receives a 5% allocation, it will mean a boom in the stock market.
  
  In last three years, these funds have consolidated because of stronger growth among the bigger pension players.
  
  These players are likely to focus on countries offering strong returns apart from relative safety, like India.

Moving on to the news from pharma sector, Dr Reddy's Laboratories share price was in focus today as the company said in a regulatory filing that the USFDA audit of its Formulations Shrevepmi Plant in Louisiana, USA, has been completed with zero observations.

In a different development the company yesterday also reported that it re-launched its Buprenorphine and Naloxone Sublingual Film in the US market after a favourable court ruling.

The re-launch comes on the heels of a favorable ruling in a patent litigation by the United States Court of Appeals for the Federal Circuit.

Reportedly, the Indian drug major had booked sales of around US$10-15 million days after its launch in July before it was stayed by the court.

To know more about the company, you can access to Dr. Reddy's Q3FY19 result analysis and Dr. Reddy's Stock Analysis on our website.

Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.

We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

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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