Indian Indices Trade Marginally Lower; Auto Stocks Witness Selling

Tue, 7 Feb 11:30 am

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After opening the day on a flat note, the Indian share markets witnessed choppy trades and are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the auto sector witnessing maximum selling pressure. Stocks in the consumer durables sector are trading in the green.

The BSE Sensex is trading down 81 points (down 0.3%) and the NSE Nifty is trading down 27 points (down 0.3%). The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading up by 0.3%. The rupee is trading at 67.34 to the US$.

As many as 136 BSE-listed companies are set to declare their December quarter results today. The list includes BHEL, Punjab National Bank, Tata Steel, CEAT and Future Retail among others.

The effect of above result announcements would be seen on Indian markets today as well as during the trading week ahead.

You see, estimates and even the actual corporate earnings every quarter tend to have a major influence on investor sentiments. The company's underperformance or outperformance is immediately reflected in market movements. If the company beats street expectations, the stock takes off like a rocket. On the other hand, if the company has missed analyst's forecasts by even a small margin, the stock is trashed.

In all, these announcements put market participants and stock markets into a frenzy. And we believe it's important to have a set process in place for times like that.

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In the news from global markets, nearly 100 companies including some of high-tech biggest names have joined a legal brief opposing President Donald Trump's immigration restrictions. As per the news, these companies have argued that Trump's temporary ban on all visitors from seven predominantly Muslim countries would hurt their businesses.

Many Indian IT companies are also feeling the brunt of the above immigration ban. Large Indian IT companies, on an average generate more than 50% of their revenues from the US clients. They have built a strong client base over the years in the US market. If the suggested changes for immigration get cleared, the cost component for the Indian IT companies will go up. The need to reduce their US exposure and move to other geographies is a given.

Will Trump Mania Impact IT Companies Revenues from US?

However, we believe that it is unlikely that the companies will substantially bring down their focus on the US. Instead companies may look out for other means to reduce costs or protect margins.

That said, Indian IT companies will also need to rise to Trump's challenges. But fortunately, most were already gearing up for this. Trump may have only accelerated their defence.

So as long as you aren't worried about the revenue guidance in the coming quarters, you need to do just one thing: Keep a vigil on valuations.

And you never know, the Trump crash may be an opportunity to act on not just IT but lots of other safe stocks as well.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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