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Indian Equity Market Update – 04Feb2020

Mumbai, 04 Feb 2020. Key equity benchmarks on NSE and BSE ended with robust gains today, supported by steep slide in crude oil prices and positive global shares – after the sharp sell off on Budget Day on Saturday, 01 Feb 2020.

Nifty50 index gained 271 points to 11,979.
BSE Sensex gained 917 points to 40,789.

Market breadth was tilted towards buyers. On the BSE, 1564 shares rose and 856 shares fell. In Nifty 50 index, 45 stocks advanced while 5 stocks declined. Fitch Ratings on Monday said India is expected to clock a GDP growth of 5.6% in the next financial year, as Budget 2020 has not “materially altered” its view on the country’s growth outlook.

The Economic Survey of India released by the government last week projected India’s growth rate at 6-6.5% for FY21. NMDC (up 6.16%), Jindal Steel & Power (up 5.35%), Hindustan Copper (up 4.61%), Hindalco Industries (up 4.24%), SAIL (up 4.02%), Tata Steel (up 3.65%), Vedanta (up 3.24%), JSW Steel (up 2.74%), National Aluminium Company (up 2.04%) and Hindustan Zinc (up 1.93%) advanced. Titan Company jumped 7.59% to Rs 1276.

Reliance Industries gained 2.86% to Rs 1425. L&T advanced 0.56% to Rs 1293.95. Bajaj Auto slipped 4.09% to Rs 3155. TCS was up 0.18% to Rs 2107. Honeywell Automation jumped 14.40% to Rs 31785. PNB fell 1.05% to Rs 56.75. Shriram Transport Finance Company surged 6.58% to Rs 1051.65. Sun Pharmaceuticals advanced 2.06% to Rs 426.10. GlaxoSmithKline Pharmaceuticals crashed 11.71% to Rs 1454.60.

In the US data on the manufacturing sector from the Institute for Supply Management, the purchasing manager’s index rose to a six-month high of 50.9% in January. Media reports showed that OPEC members are planning an emergency meeting for discussing large production cut. The outbreak of the Coronavirus and China’s efforts to stop the spread mean the economy will grow slower this quarter than first thought, according to economists.

Indian Stock Market, Stock Market News, US Stock Market

S&P500 vs Nifty50 YTD Performance-22Nov2019

This year 2019, is one of the best for S&P500 index, with YTD gain 25.13% and compared to that solid performance, Nifty50 index of India has YTD gain of only 9.71%, most of which has come in last 2 months, after being at negative YTD gain in Aug-Sep 2019.

The S&P500 has been the trend setter and leading indicator for other global equity indices, including Nifty50 index of India. A significant divergence from S&P500 by Nifty50 on the downside, has been a buying opportunity in previous years, and it was the same this year too.

Hong Kong Stocks, Indian Stock Market, Stock Market News

Asian Equity Markets Review – 20Feb2017

Asian equity markets ended mostly higher on Monday as the Yen weakened after Japanese trade balance figures missed expectations, and oil prices held steady after posting their first weekly decline in five weeks on concerns over rising production and swelling stockpiles in the US.

Reports showed that Japan posted a merchandise trade deficit of 1,086.9 billion yen in January as exports slowed down due to a decline in US exports and the timing of Chinese New Year holidays. That missed forecasts for a shortfall of 625.9 billion yen following the 640.4 billion yen deficit in December.

Chinese shares ended higher after reports that pension funds are entering the stock market. Investor sentiment was also boosted after China’s securities regulator unveiled new rules on Friday restricting excessive and frequent fundraising by some listed companies. Continue reading Asian Equity Markets Review – 20Feb2017 →