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Rising of WPI Inflation; Hawkish Fed; Sino-US Trade Anxiety and Top Stocks in Action Today
Fri, 15 Jun Pre-Open | Rini Mehta, TM Team

Indian share markets ended lower after the US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year.

The S&P BSE Sensex ended at 35,600, down 139 points while the broader Nifty50 index settled at 10,808, down 49 points.

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.

Domestic Economic Data

Back home, the Wholesale inflation spiked to 4.43% in May, from 3.18% in April, according to the government data released on Thursday.

Meanwhile, India's current account deficit (CAD) rose to US$13 billion (Rs 878 billion and 1.9% of gross domestic product, or GDP) in the fourth and final quarter (Q4 of 2017-18), compared to US$2.6 billion (Rs 176 billion and 0.4% of GDP) in the same period of 2016 -17.

For the full financial year (2017-18), the deficit increased to 1.9% of GDP, from 0.6% in 2016-17.

At Equitymaster, we do not attempt to predict how and when macroeconomic developments will unfold. Instead, we focus on the fundamentals and the underlying business strength of companies.

In such an environment, it makes sense for investors to be selective while buying stocks. Focus on value and the underlying fundamentals of the business. Then, they need not worry about the market.

So, what is key to identifying potential multibagger stocks? How does one pick them at the right time and ride them to their full potential? How many multibaggers do you really need to achieve the big riches that you desire?

Most importantly, are there any stocks right now that could turn out to be multibaggers? Click here to know everything that you need to know right now about mutlibagger stocks...

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Top Stocks in Focus

Lupin share price will be in focus as it has received final approval for its Drospirenone, Ethinyl Estradiol, Levomefolate Calcium Tablets and Levomefolate Calcium Tablets, 3 mg/0.02 mg/0.451 mg and 0.451 mg, from the United States Food and Drug Administration (USFDA) to market a generic version of Bayer HealthCare Pharmaceutical Inc.'s (Bayer) Beyaz Tablets.

HCL Technologies (HCL) has signed an end-to-end IT infrastructure services deal with Falck, an international leader in the ambulance and healthcare markets. The stock will be in focus.

Sun Pharmaceutical Industries has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted at its Halol facility in the state of Gujarat.

JSW Steel has completed the acquisition of 83% of the shares of Acero Junction Holdings Inc and the remaining 17% are in the process of transfer to the company on making balance payments as per the terms of the SPA.

In a bid to shore up sales of its electric passenger vehicles, Mahindra & Mahindra's (M&M) subsidiary -- Mahindra Electric Mobility -- is reportedly planning to join forces with fleet operators and cab aggregators such as Zoomcar, Ola and Uber. The stock will hog limelight today.

To get more updates on share market, click here.

Global Stock Market Drivers

There was little appetite for risk across global markets on Thursday, as investors came to terms with the prospect of faster-than-expected US interest rate hikes and a raft of disappointing data out of China. A looming European rate decision added another layer of uncertainty.

Most benchmark stock gauges retreated, with Asian shares taking their cue from Wednesday's weak US session and deepening recent losses.

These are some key events to watch this week:

  • The European Central Bank rates decision in focus with a briefing from President Mario Draghi.
  • The Bank of Japan June monetary policy decision and news conference is to be held today.

Oil Prices Ease

Oil prices eased on Thursday, dragged down by rising output, although strong demand and a drop in US fuel inventories provided the market with some support.

Brent crude futures, the international benchmark for oil prices, were at US$76.46 per barrel, down 28 cents, or 0.4%, from their last close.

US West Texas Intermediate (WTI) crude futures were at US$66.58 a barrel, down 6 cents from their last settlement.

Prices were pulled down by another rise in US oil production, which hit a weekly record of 10.9 million barrels per day (bpd) last week.

IPO Buzz

Indian additives maker Fine Organic Industries has set a price range of 780 rupees-783 rupees a share for an initial public offering (IPO) that will open on 20 June.

At the upper end of the range, the IPO, which closes on June 22, will raise about 6 billion rupees (US$88.7 million).

Fine Organic's founders will sell up to 7.7 million shares through the IPO, comprising a quarter of the post-offer share capital of the company.

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year.

One shall note that, 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 IPO rush.

Bulk & Block Deals

Ace investor Rakesh Jhunjhunwala on Thursday picked up a 0.7% stake, or 13 million shares, in digital-to-home provider Dish TV.

The purchase was done through Jhunjhunwala's firm Rare Enterprises at Rs 71.3 per share. The total value of the block deal stands at Rs 926.9 million.

Our team of Equitymaster analysts have been working on a project to track the smartest minds in value investing. They have compiled a special report on them, called The Superinvestors of India.

Now, because of insights from these interactions, the team has glued their eyes on insider activity and bulk and block deals...

As per them...

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

BAJAJ HIND. SUGAR plunges by 5%; BSE 500 Index Down 0.0% (Today's Market)

Jun 18, 2018 02:58 PM

BAJAJ HIND. SUGAR share price has plunged by 5% and its Current Market Price is Rs 7. The BSE 500 is down by 0.02%. The top gainers in the BSE 500 Index are JAIPRAKASH ASSO. (up 7.27%) and HPCL (up 5.18%). The top losers are BAJAJ HIND. SUGAR (down 5.00%) and TAKE SOLUTIONS (down 5.93%).

JAIPRAKASH ASSO. surges by 8%; BSE REALTY Index Up 0.1% (Today's Market)

Jun 18, 2018 02:22 PM

JAIPRAKASH ASSO. share price has surged by 8% and its Current Market Price is Rs 16. The BSE REALTY is up by 0.11%. The top gainers in the BSE REALTY Index is JAIPRAKASH ASSO. (up 7.96%). The top losers are GODREJ PROPERTIES (down 0.06%) and OMAXE LTD (down 0.28%).

P&G HYGIENE at All Time High; BSE FMCG Index Up 0.0% (Today's Market)

Jun 18, 2018 02:22 PM

P&G HYGIENE share price has hit an all time high at Rs 10,360 (up 4.46%). The BSE FMCG Index is up by 0.04%. Among the top gainers in the BSE FMCG Index today are P&G HYGIENE (up 4.46%) and GILLETTE INDIA (up 0.13%). The top losers include ITC LTD (down 0.06%) and GSK CONSUMER (down 0.06%).

INDO COUNT surges by 15%; BSE 500 Index Down 0.1% (Today's Market)

Jun 18, 2018 02:21 PM

INDO COUNT share price has surged by 15% and its Current Market Price is Rs 79. The BSE 500 is down by 0.07%. The top gainers in the BSE 500 Index is INDO COUNT (up 14.57%). The top losers are JK LAKSHMI CEMENT (down 0.02%) and DEEPAK FERTILISERS (down 0.02%).

Sensex Trades Rangebound; Metal, Pharma Stocks Top Losers (Today's Market)

Jun 18, 2018 12:30 pm

The BSE Sensex is trading down by 25 points, while the NSE Nifty is trading down by 5 points.

INDUSIND BANK at All Time High; BSE BANKEX Index Up 0.3% (Today's Market)

Jun 18, 2018 11:49 AM

INDUSIND BANK share price has hit an all time high at Rs 1,988 (up 1.11%). The BSE BANKEX Index is up by 0.32%. Among the top gainers in the BSE BANKEX Index today are INDUSIND BANK (up 1.11%) and YES BANK (up 0.44%). The top losers include SBI (down 0.18%) and AXIS BANK (down 0.38%).

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