Sensex Ends 353 Points Higher; Realty and Telecom Stocks Witness Buying

Wed, 5 Feb Closing

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Indian share markets continued their momentum during closing hours and ended their trading session on a positive note today.

At the closing bell, the BSE Sensex stood higher by 353 points (up 0.9%) and the NSE Nifty closed higher by 110 points (up 0.9%).

The BSE Mid Cap index ended up by 1.4% and the BSE Small Cap index ended the day up by 0.7%.

All sectoral indices were trading in the green with realty sector and telecom sector witnessing most of the buying interest.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 0.42% and the Nikkei was trading up by 1.02%, while the Shanghai Composite was trading up by 1.25%.

European markets were also trading on a positive note. The FTSE 100 was up by 0.72%. The DAX was trading up by 1.34%, while the CAC 40 was trading up by 1%.

The rupee was trading at 71.22 to the US$ at the time of writing.

Speaking of the current stock market scenario, while everyone out there is buzzing about the Union Budget and what it has in store for the stock markets, our analysts at Equitymaster are singing a different tune.

They are encouraging readers to look beyond the short-term blip that the Budget will bring and focus on the long-term trend that will rule the market.

Vijay Bhambwani, editor of Fast Profits Daily, has recorded his views on the market post the union budget in his latest video. You can access the same here: My Outlook for Traders After the Budget

Meanwhile, here's what Rahul Shah wrote about it in a recent edition of The 5 Minute WrapUp...

• All said and done, the fact of the matter is that the economy is indeed struggling.
  
  And it will be some time before a full-fledged recovery is achieved.
  
  However, is the situation so bad that it deserved a close to 1,000 point correction on the Sensex?
  
  Well, I don't think so.
  
  It is not as if the economic growth will fall dramatically from here. Yes, certain big bang measures in the budget would have led to a faster recovery perhaps. But ours is a long term story with certain hiccups along the way like we are witnessing right now.
  
  And that means pouncing on any adverse reaction from the market like the present one.

As per him, a meaningful fall in the market is an opportunity to buy the long term India story at a marked down price. And it should be seen as a boon and not a bane.

Already, the broader market valuation is looking a lot more attractive than it did a few weeks back.

Some more knee jerk reaction by the stock market and it could turn out to be one the biggest buying opportunities in years.

Also, the smallcap index is rebounding. Look at this chart...

As per our smallcap analyst Richa Agrawal, you can find a lot of great buying opportunities in the smallcap space and this is a great time to be invested in smallcaps.

However, she also points out that not everything you touch will turn into gold. You should be very careful and selective in picking the most solid and promising smallcap stocks.

In the video below she talks about the ongoing economic slowdown, an upcoming rebound in the small cap space, and her number 1 stock pick for 2020.

Tune in to know more...

Moving on, Avanti Feeds share price was in focus today as the company posted weak set of numbers for the quarter ended December 31, 2019.

The company reported a 35% year-on-year (YoY) decline in its consolidated net profit at Rs 478.5 million.

Profit before tax (PBT) declined 36% YoY to Rs 730 million.

Revenue from operations, however, stood at Rs 9.2 billion, up 10.4% YoY.

Earnings per share (EPS) of the company stood at Rs 3.51 against Rs 5.4 in the year-ago quarter.

Segment-wise, revenues from shrimp feed business stood at Rs 6.5 billion, up 8% against Rs 6.1 billion in the previous year quarter. Processed Shrimp revenue stood at Rs 2.6 billion, up 16% YoY while Power segment revenue rose 5.4% YoY.

To know more, you can read Avanti Feed's Q3FY20 result analysis on our website.

From the pharma sector, market participants were also tracking Zydus Wellness share price as the company reported a consolidated net profit of Rs 42.4 million for the quarter ended December 31, 2019 against a net profit of Rs 396.9 million for the corresponding period of the previous fiscal.

Consolidated revenue from operations of the company stood at Rs 3.3 billion for the quarter under consideration. It was Rs 1.4 billion for the same period a year ago.

The company said that the consolidated financial results for the three and nine months ended December 31, 2019 include operations of Heinz India Pvt Ltd which was merged into Zydus Wellness Products Ltd, hence the results are not comparable with those of the previous periods.

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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