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Sensex Ends Marginally Higher; Realty and Healthcare Stocks Witness Buying
Thu, 16 Jan Closing | Monish Vora, TM Team

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Indian share markets witnessed buying interest during closing hours today and ended marginally higher. The BSE Sensex crossed 42,000-mark for the first time today while the broader NSE Nifty rose above 12,350.

Benchmark indices rose to their respective all-time highs in early trade today, taking cues from the global peers which rose after the US and China signed an initial deal to defuse their 18-month trade war.

Barring metal sector and oil & gas sector, all sectoral indices ended on a positive note with stocks in the realty sector and healthcare sector witnessing most of the buying interest.

At the closing bell, the BSE Sensex stood higher by 60 points and the NSE Nifty closed up by 13 points. The BSE MidCap index and the BSE SmallCap index ended up by 0.8%.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up 0.4% and the Shanghai Composite stood lower by 0.5%. The Nikkei 225 was up 0.1%.

The rupee is trading at 70.93 against the US$.

Speaking of Indian share markets, Indian indices have witnessed a starkly polarised situation since 2018, after the uninterrupted bull rally of 2017 entered a period of correction.

While the Sensex recovered from the correction and went on to hitting new life-time highs, the broader markets - predominantly the small and midcap stocks -haven't recovered much.

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Ankit Shah, the editor of daily premium newsletter Equitymaster Insider (requires subscription), has been talking about this trend since a long time. But now, he has even more elaborate data to show you how deep this trend has been.

He pulled out data on 1,638 companies listed on the NSE.

And he shares his observations in a recent edition of The 5 Minute WrapUp...

  • Between 29 December 2017 and 30 December 2019, just 246 companies have witnessed gains. Together, these 246 companies added Rs 29.8 trillion worth of market capitalisation.

    In other words, 1,392 companies are below the levels they traded at the end of December 2017. Together, these 1,392 companies lost Rs 28.6 trillion worth of market capitalisation.

    So, you see the money has literally shifted from one place to another.

Even among the 246 companies that witnessed gains, the major chunk was captured by just a small list of companies.

This can be seen from the chart below...

A Very Small Group of Stocks Captured All the Gains

As you can see, the top 5 companies captured 41% of all the gains in market capitalisation over the last two years. In fact, the top 30 stocks captured more than 80% of the gains.

In short, money has been rushing to safety, into large, liquid, bluechips stocks.

This brings the question: Where can you look for such bluechip stocks?

You can consider the bluechip recommendations made by our Safe Stocks guru, Tanushree Banerjee. She has picked her top 7 stocks for 2020.

In news from the telecom sector, shares of Bharti Airtel witnessed buying interest today after a successful fund-raising exercise through completion of qualified institutional placement (QIP) and pricing of foreign currency convertible bonds (FCCBs).

The stock of the company was trading close to its 52-week high of Rs 486, touched on December 2, 2019.

The company raised US$ 2 billion through the QIP route. The company issued 323.6 million equity shares at the price of Rs 445 per share.

The company said the net proceeds of the fund raised will primarily be used to augment the company's long-term resources and strengthen the balance sheet, servicing and for repayment of short term and long-term debts capital expenditures, statutory dues and long-term working capital requirements.

Post the QIP issues, the holding of promoter and promoter group will be 58.98% as against 62.7%.

Buying interest was also seen amid hopes of relief from the Supreme Court against an early verdict on adjusted gross revenue (AGR).

The Supreme Court, in its October 24, 2019 ruling, ordered telcos to pay up statuary dues by January 23 following which telcos had sought a limited review of ruling.

Airtel was hit by the supreme court's verdict mandating it to pay dues of Rs 355.9 billion to the department of telecommunications (DoT).

Bharti Airtel share price ended the day up by 1.3%.

Moving on to news from the banking sector, shares of Yes Bank gained up to 3% today after the lender assured its customers on its liquidity and stability.

In a press release, the private lender said "we firmly assure all our customers on Yes Bank's liquidity and stability. In this regard, it may be noted that the bank's overall capital adequacy ratio is comfortably above regulatory requirements and all efforts are being made to financially strengthen the bank even further."

Meanwhile, in a separate BSE filing, the bank informed that it has acquired 6 million shares, 10.25% of equity share capital in Sical Logistics.

Note that shares of Yes Bank have been under pressure of late amid reported of its unsuccessful attempts of fundraising.

Last week, the lender rejected Erwin Singh Braich's US$ 1.2 billion investment offer but said that it will raise Rs 100 billion by issuing securities.

Yes Bank share price ended the day up by 0.8%.

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!

Read the latest Market Commentary

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Stock Market Updates

Top 5 Mid-Cap Gainers Today; WOCKHARDT Leads the Pack (Today's Market)

Jan 27, 2020 03:50 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

FORCE MOTORS Plunges by 5%; BSE AUTO Index Down 0.1% (Today's Market)

Jan 27, 2020 03:20 PM

FORCE MOTORS share price has plunged by 5% and its current market price is Rs 1,450. The BSE AUTO is down by 0.1%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.0%) and M&M (up 1.9%). The top losers is FORCE MOTORS (down 5.1%).

PNB HOUSING FINANCE LTD Plunges by 5%; BSE 500 Index Down 0.7% (Today's Market)

Jan 27, 2020 03:16 PM

PNB HOUSING FINANCE LTD share price has plunged by 5% and its current market price is Rs 489. The BSE 500 is down by 0.7%. The top gainers in the BSE 500 Index are WOCKHARDT (up 15.3%) and EDELWEISS FINANCIAL (up 10.0%). The top losers are PNB HOUSING FINANCE LTD (down 5.0%) and JINDAL STEEL & POWER (down 5.0%).

THYROCARE TECHNOLOGIES Surges by 7%; BSE HEALTHCARE Index Up 1.8% (Today's Market)

Jan 27, 2020 02:42 PM

THYROCARE TECHNOLOGIES share price has surged by 7% and its current market price is Rs 587. The BSE HEALTHCARE is up by 1.8%. The top gainers in the BSE HEALTHCARE Index are THYROCARE TECHNOLOGIES (up 6.6%) and DR. REDDYS LAB (up 5.4%). The top losers are CADILA HEALTHCARE and J.B.CHEMICALS (down 0.3%).

JM FINANCIAL Plunges by 5%; BSE 500 Index Down 0.4% (Today's Market)

Jan 27, 2020 02:22 PM

JM FINANCIAL share price has plunged by 5% and its current market price is Rs 109. The BSE 500 is down by 0.4%. The top gainers in the BSE 500 Index are WOCKHARDT (up 14.6%) and EDELWEISS FINANCIAL (up 10.0%). The top losers are JM FINANCIAL (down 5.3%) and NAVKAR CORP. (down 5.7%).

Indian Indices Trade Lower; Tata Steel & HDFC Bank Top Losers (Today's Market)

Jan 27, 2020 12:30 pm

The BSE Sensex is trading down by 186 points, while the NSE Nifty is trading down by 54 points.

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