Sensex Ends 416 Points Lower; Banking and Energy Stocks Witness Huge Selling

Mon, 20 Jan Closing

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After hitting record highs in the morning trade today, India share markets gave up all the gains and ended near day's low with Nifty below 12,250 level.

At the closing bell, the BSE Sensex stood lower by 416 points (down 1%) and the NSE Nifty stood down by 121 points (down 1%).

The BSE Mid Cap index ended the day down 0.6%, while the BSE Small Cap index ended the day down by 0.4%.

Stocks in the banking sector and energy sector witnessed huge selling pressure, while telecom stocks were trading in the green.

The rupee was trading at 71.12 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.90% and the Shanghai Composite was up by 0.66%. The Nikkei 225 was up 0.18%.

European markets were trading on a negative note. The FTSE 100 was down by 0.29%. The DAX was trading down by 0.04%, while the CAC 40 stood down 0.33%.

Speaking of the huge fall witnessed in stock markets today, in today's edition of The 5 Minute WrapUp, Tanushree has shared Vijay's popular video, along with the full transcript, on safe investments for 2020.

You can check the same here: Your Safe Income Options for 2020

In news from the pharma sector, the US Food and Drug Administration (USFDA) is back in action again as at least five companies filed corporate announcements on the stock exchanges related to the health regulator over the past three days.

Cipla announced the closure of inspection by the USFDA at its Patalganga manufacturing facility in Maharashtra.

Biocon also informed bourses that pre-approval inspection of the Bengaluru facility of its arm conducted by US health regulator was concluded with zero observations.

Strides Pharma Science (Strides) said its arm has received an establishment inspection Report (EIR) from the US health regulator for its Florida facility in the US. Strides Pharma Inc received EIR from the USFDA for the inspection conducted at its unit it December last year.

Drug major Lupin on Saturday said it has received five observations from the US health regulator after inspection of its Vizag facility in Andhra Pradesh.

And SMS Pharma today informed exchanges that the United States Food and Drug Administration (USFDA) conducted a cGMP inspection at Kandivalasa, Vipanagaram, Andhra Pradesh API manufacturing facility from January 13-17.

How this trend pans out in the coming days and what effect it will have on the pharma sector remains to be seen. We will keep you updated on all the developments from this space.

Speaking of the pharma sector, in the video below, Tanushree talks in great detail about the pharma sector.

She tells us where the sector stands now and also about the potential for a rebound.

Tune in to find out more...

Moving on to the news from the IPO space, Indian Railway Finance Corporation (IRFC) has filed draft papers with Indian share market regulator for its initial public offering (IPO).

The public issue is of up to 140,70,69,000 equity shares of which up to 93,80,46,000 equity shares are fresh issue, and up to 46,90,23,000 equity shares are offer for sale.

The net proceeds from the offer are proposed to be utilised towards augmenting the company's equity capital base to meet future capital requirements arising out of growth in business and general corporate purposes.

IDFC Securities, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the book running lead managers to the issue.

IRFC was incorporated as the dedicated market borrowing arm for the Indian Railways and has played a strategic role in financing the latter's operations.

We will keep you updated on all the news regarding this IPO. Stay tuned.

Speaking of IPOs, in one of the editions of The 5 Minute WrapUp, Ankit Shah shared how IPOs offer insights into the mood of the stock markets.

He picked the six most successful IPOs of the year and checked the retail investor enthusiasm for them.

Obviously, all these IPOs were oversubscribed across investor categories. But the level of retail investor enthusiasm differed widely, depending on the overall market sentiments. This can be seen in the chart below:

Are Retail Investors Back in the IPO Game?

Here's what Ankit wrote about it...

• Clearly, IRCTC witnessed the highest number of bids for the retail category. Factoring in the discount of Rs 10 per share for the retail category, the total bids were worth a whopping Rs 3,242 crore. Over five times the entire IPO size!
  
  Polycab India and the recent IPO of CSB Bank also received a strong thumbs-up from retail investors.

Does this hint that retail investors are coming back to the markets? Could we witness of flurry of IPOs in the coming months?

It would be interesting to see how this trend pans out in 2020.

Ankit keeps a tab on all the IPOs at his premium newsletter Equitymaster Insider (requires subscription).

He's closely watching IPOs in 2020 and is going to pick all the profitable ones for his readers at Equitymaster Insider. In one of his recent articles, he has explained why keeping a tab on the IPO market is vital to your overall investing goals. You can read it here: What I Learnt from IPOs in 2019 (requires subscription).

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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