Indian Indices End Marginally Lower; Tata Steel and Hindalco Top Nifty Gainers

Thu, 7 Jan Closing

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Indian share markets ended their trading session marginally lower today.

Benchmark indices fluctuated as investors awaited vaccine deployment in the world's second-largest coronavirus hotspot and ahead of the quarterly earnings season that begins tomorrow.

At the closing bell, the BSE Sensex stood lower by 80 points (down 0.2%).

The NSE Nifty ended down by 9 points (down 0.1%).

Tata Steel and Hindalco were among the top gainers today.

Nestle, on the other hand, was among the top losers today.

SGX Nifty was trading at 14,210, up by 29 points, at the time of writing.

The BSE Mid Cap index ended up by 1.1%. The BSE Small Cap index ended higher by 0.9%.

Sectoral indices ended on a mixed note with stocks in the FMCG sector and IT sector witnessing selling pressure. Metal stocks, on the other hand, witnessed buying interest.

Asian share markets ended mixed today. As of the most recent closing prices, the Nikkei ended up by 1.6% and the Hang Seng ended down by 0.5%.

US stock futures are trading positively. Nasdaq Futures are trading up by 76 points (up 0.6%), while Dow Futures are trading up by 100 points (up 0.3%).

The rupee is trading at 73.33 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.5% at Rs 50,748 per 10 grams.

In one of his latest videos for Fast Profits Daily, Vijay Bhambwani talks about an interesting development in the gold market.

In the US, President Donald Trump's decision to ask election officials in the state of Georgia to find more votes, triggered a rally in the price of gold.

Will this gold rally continue, or will it fizzle out?

Tune in to the video below to find out more.

And to know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Speaking of stock markets, note that since the lows in March 2020, the smallcap index has gained more than 110%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Here's what she wrote in one of the recent editions of Profit Hunter...

• For one, the gap between Sensex and smallcap index is still huge.
  
  In January 2018, the smallcap to Sensex ratio was 0.57 times, versus a long term average of 0.44 times.
  
  At present, this ratio stands at 0.37 times, well below the long-term average.
  
  The possibility of a convergence between growth and value is a lot higher in the smallcap space, than in the large caps.
  
  And then here are some other interesting facts.
  
  Historically, the smallcap index, after a sharp correction, has risen up to 300%.

The above observations have served Richa's smallcap service Hidden Treasure well. Her first batch of essential stock recommendations have offered robust returns so far, as can be seen in the chart below:

While the margin of safety in valuations has come down in these stocks, Richa has recently added another stock to this list.

This company is the world's largest player in a niche segment and its product falls in the essential category. This global leader enjoys unique competitive advantages that are hard to replicate by its peers.

If you are interested in knowing more and in becoming a Hidden Treasure subscriber, here's where you can sign up.

Moving on to stock specific news...

Bharat Forge was among

Bharat Forge share price witnessed buying interest today as sales of heavy trucks rose in the US.

Orders for class 8 trucks in the US rose 165% over the year earlier to 52,100 units in December 2020, according to data from FTR Transport Intelligence.

Month-on-month, however, sales fell 1%.

With this, the overall truck orders for the year 2020 stood at 2.82 lakh units compared with 1.78 lakh units in 2019 - a rise of 58%.

Bharat Forge in November had said it remained bullish on an increase in demand for class 8 trucks in the US, which had then surged to a two-year high.

How the stock performs in the coming days remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Dixon Technologies share price was also in focus today.

Shares of the company hit their 52-week high of Rs 15,214 in morning trades today, a day after the company said it had entered into an agreement with boAt for manufacturing of Twin wireless speakers.

"Dixon Technologies (India) Limited and boAt have entered into an agreement for manufacturing of Twin wireless speakers. Dixon shall be manufacturing the said products from its manufacturing facility located at Noida, Uttar Pradesh," the company said in a statement on January 6.

boAt is the leader in the earwear segment and its high-quality audio devices are known for their style and efficiency.

Dixon Technologies share price has surged more than 250% in calendar year 2020. Ever since the company's initial public offering (IPO) in September 2017, Dixon Technologies shares have rallied nearly 9 times from its IPO price of Rs 1,766 apiece.

Dixon claims to be a design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India.

How the above development influences the share price of the company ahead remains to be seen. Stay tuned for all the updated from this space.

Moving on to news from the retail sector...

Market participants were tracking Titan share price today after the company yesterday said its jewellery division has crossed the recovery phase to growth phase.

The company also announced that its other two large divisions have moved much closer to the full recovery.

The company's jewellery business reported a healthy 15% year-on-year (YoY) growth in sales during the October-December quarter (Q3FY21), due to festive season along with pent-up demand for wedding jewellery.

The Tata group company's jewellery industry saw resurgence in the festive season along with a pent up demand for wedding jewellery as most of the weddings in H1FY21 were deferred.

In the case of watches & wearables segment, the division had a recovery rate of around 88% in Q3, compared to the revenue of the same quarter last year.

The e-commerce channel reported an absolute growth of over 30%.

Meanwhile, other businesses had a revenue recovery of around 80%, compared to the revenue of the same quarter in last year.

Here's an interesting data on Titan... Even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouth watering returns.

Here's what Co-head of Research at Equitymaster, Tanushree Banerjee wrote about it in one of the editions of Profit Hunter:

• It's possible to accumulate a few crores by investing small amounts in good businesses. Especially when the business is in distress and comes with margin of safety in valuations.
  
  Like the stock in my latest special report - First Stock to Potentially Rs 7 Crore Long-term Wealth.
  
  Business headwinds and macro and regulatory issues have kept the stock out of favour in most of 2020.
  
  Given its pedigree, balance sheet strength and cash flows, the stock has a very high chance of rerating once the temporary clouds of uncertainty disperse.
  
  In fact, I believe that 2021 could be for this stock what 2004 was for Titan.

In a recent special online event - The Great Indian Wealth Project - Tanushree showed how to potentially accumulate Rs 7 crore in wealth, over the long-term.

You can watch the event here.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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