Sensex Soars 657 Points, Nifty Tops 17,450; Coal India & Maruti Suzuki Rally 4%

Wed, 9 Feb Closing

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Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

Benchmark indices joined the global rally with all major sectors barring PSU banks, trading with gains. A mild pullback in crude oil prices and bond yields made investors turn to riskier assets.

Moreover, RBI's policy announcement will be the key focus tomorrow as domestic inflation and policy tightening by global central banks would pressurize the central bank to adopt a similar stance.

At the closing bell, the BSE Sensex stood higher by 657 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 197 points (up 1.1%).

Coal India and Maruti Suzuki were among the top gainers today.

ONGC and Sun Pharma, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,484, up by 225 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.2% and 0.6%, respectively.

Sectoral indices ended on a positive note with stocks in the auto sector, consumer durables sector and metal sector witnessing most of the buying interest.

Oil & gas stocks, on the other hand, witnessed selling pressure.

Shares of Nalco and Bank Of Baroda hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng and the Shanghai Composite ended up by 2.1% and 0.8%, respectively. The Nikkei ended up by 1.1% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 179 points.

The rupee is trading at 74.81 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 48,485 per 10 grams.

Speaking of stock markets, in his latest video, Brijesh Bhatia discusses whether this is the beginning of the end for IT stocks.

Brijesh, who was bullish on IT stocks so far, explains how things are changing and the charts don't look so positive anymore.

In news from the realty sector, DB Realty was among the top buzzing stocks today.

DB Realty said that its board at its meeting held today has approved to raise funds via issue of 50 million warrants convertible into equivalent number of equity shares.

Shares of DB Realty surged to hit the upper circuit level of 5% at Rs 116 apiece on the BSE.

The convertible warrants will be in addition to 770 m warrants as disclosed in the outcome of the board meeting held last week, DB Realty announced in an exchange filing today.

The company will issue warrants to non-promoter investors on preferential basis which includes ace investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala, who will be issued 10 m warrants through RARE Investments.

Other non-promoter investors also include Lotus Family Trust represented by its Trustee namely Barclays Wealth Trustees (India) Private Limited, KIFS Dealers, among others.

Each warrant is convertible into 1 equity share and the conversion can be exercised at any time within a period of 18 months from the date of allotment, in one or more tranches.

DB Realty shares have been in continuous rising trend since the past few trading sessions, hitting upper circuit levels, after the realty firm had announced plans to raise Rs 5.6 bn by issuing warrants to promoters and investors.

The multibagger stock has rallied over 86% in a month whereas it has surged over 387% in the last six months.

From trading over Rs 18 per share level in February 2021, the realty stock has skyrocketed more than 521% in a year's period. In 2022 so far, DB Realty shares are up over 137% (year to date).

DB Realty share price ended the day up by 5% on the BSE.

Speaking of the stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception. This compares favourably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post Covid rebound underscores the strength of stock picking process.

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

Moving on to news from the mutual funds space...

Equity MF Inflows Continue to be Robust in January 2022

Even as the market remained volatile, massive flows to equity mutual fund schemes continued for another month in January. The inflows have provided some support to the markets in recent months when foreign investors have withdrawn money.

Association of Mutual Funds in India (AMFI) data released for the month on Wednesday said investors poured in a net Rs 148.9 bn in equity-oriented funds.

All but one category saw inflows led by over Rs 20 bn in sectoral and thematic funds. Focused funds and those investing in broader markets also saw healthy inflows.

The debt segment saw net inflows but it was limited at Rs 50.9 bn as liquid funds saw outflow of Rs 144 bn. Overnight fund, on the other hand, saw investments of Rs 193.6 bn.

Thanks to consistent investments made by investors, domestic institutional investors, which mostly comprise mutual fund managers, bought stocks worth Rs 219.3 bn during the month, against buying of Rs 312.3 bn in December 2021. This is at the time foreign institutional investors (FIIs) have been withdrawing money in heaps from Indian markets.

It seems investors are making the most of the recent dip in the market.

Total assets under management (AUM) of the mutual fund industry increased by Rs 352.5 bn to Rs 38 tn at the end of January. A part of the gains also includes mark-to-market losses or gains for the industry.

We will keep you updated on the latest developments from this space. Stay tuned.

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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