Sensex Trades Flat; Realty and Auto Stocks Gain

Fri, 22 Feb 12:30 pm

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Share markets in India are presently trading on a flat note. Sectoral indices are trading mixed with stocks in the banking sector and energy sector witnessing selling pressure while auto stocks, oil & gas stocks and realty stocks are witnessing buying interest.

The BSE Sensex is trading down by 40 points (down 0.1%), while the NSE Nifty is trading on a flat note. The BSE Mid Cap index is trading up by 0.4% and the BSE Small Cap index is trading up by 0.8%.

Speaking of Indian share markets, note that mutual fund investors who have been resilient in their investments till now are showing the first signs of panic.

Have a look at the chart below that shows the reducing mutual fund net inflows:

Reducing Mutual Fund Net Inflows - First Sign of Panic?

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

• Net mutual fund inflows (mutual fund inflows net of redemptions) for January 2019 was at Rs 61.6 billion. This is a 60% drop from net inflows of 153.9 billion in January 2018 of last year.
  
  Past bear market cycles were characterised by the exit of retail investors.
  
  Are we seeing the same thing again?
  
  It is important dear reader, to avoid the herd in times like these.

She believes, these are the times that differentiate the small number of investors who create long-term wealth for themselves by taking long-term positions in safe stocks.

From the currency space, the rupee is trading at Rs 71.19 against the US$.

The rupee inched up 2 paise to 71.22 against the dollar in early trade today amid a dip in crude oil prices and fresh foreign fund inflows. Yesterday, the rupee closed almost flat against the US dollar.

Global crude oil prices witnessed selling pressure on higher levels after the US reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by middle east-dominated producer club OPEC to withhold supply and tighten global markets.

In the news from the engineering sector, BEML share price is witnessing 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 is presently trading up by 4%.

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

Moving on to the news from the banking sector, Kotak Mahindra bank share price is witnessing selling pressure today after 3% stake (58.7 million shares) changed hands via six block deals on the counter.

According to reports, ING group is looking to sell its stake in the private sector lender. ING Mauritius Investments was holding 3.1% stake in the bank as of December 31, 2018.

Kotak Mahindra bank share price is presently trading down by 3.5%.

To know more about the company, you can read Kotak Mahindra Bank's latest result analysis on our website.

In another news, according to The Economic Times, renewed US sanctions on Iran's oil exports are giving a boost to the profits of UCO bank share price, which has been struggling under the weight of bad loans.

Here's an excerpt from the article:

• Kolkata-based UCO expects its privileged status processing refiners' payments for Iranian oil shipments to add more than Rs 800 crore ($110 million) to annual earnings, according to Chief Executive Officer Atul Kumar Goel. Indian refiners are required to deposit any money destined for Iran without interest with UCO Bank during periods when U.S. sanctions are in force.
  
  Being involved in the country's oil imports from Iran gives us access to zero-interest funds, which refiners place with us, Goel said in a recent interview at his Kolkata office. It will improve our net interest income as well as operating profit.

UCO bank share price is trading down by 0.3%.

Speaking of banking sector, note that the credit growth for banks is back to its 5-year high.

The credit growth that banks in India posted in December quarter of 2018, at 15.1% YoY, is not just very healthy. It's nearly 2 times GDP growth. But it also back to the five-year high.

Strong credit disbursal is clearly a sign of many things to come. Higher consumption demand, better capacity utilization, more capex and higher profits.

It would be interesting to see how this trend follows in 2019. Meanwhile, we will keep you updated on all the developments from this space.

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

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