Sensex Trades Marginally Lower; Asian Paints & Bharti Airtel Top Losers

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Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the telecom sector and consumer durable sector witnessing maximum selling pressure while IT stocks and healthcare stocks are witnessing buying interest.

The BSE Sensex is trading down by 81 points (down 0.2%), while the NSE Nifty is trading down by 29 points (down 0.3%). The BSE Mid Cap index is trading down by 0.8%, while the BSE Small Cap index is trading down by 0.6%.

The rupee is currently trading at Rs 69.55 against the US$.

Speaking of Indian share markets, after the dream bull market of 2017, 2018 turned out to be a wet blanket.

Small and mid-cap stocks were the first ones in the line of fire, and also the worst hit.

The benchmark indices, however, managed to hold on longer. The Sensex even went on to hit an all-time high around the end of August. But the Indian markets fell sharply during September, triggered by the unfolding of the IL&FS crisis. The market correction got worse in October as the US-China trade-war tensions and liquidity tightness in the domestic NBFC sector severely dented market sentiment.

In November 2018, the markets attempted a short-lived turnaround, but it wasn't enough to bring back the bulls.

Subsequently, the markets treaded in an indecisive zone.

But since March 2019, the Indian markets have rallied sharply. As a result, India managed to outperform most of the other major economies during the second half of the financial year 2018-19 (H2: 2018-19).

The below chart shows the performance of some of the major world economies during H2: 2018-19 in dollar terms.

Indian Stock Markets Outperform Most Peers

Here's what Ankit Shah wrote about it in one of the recent edition of The 5 Minute WrapUp...

• From October 2018 to March 2019, the BSE Sensex increased by 6.8% in rupee terms and 11.7% in dollar terms.
  
  Brazil, Indonesia and China are the only other major economies that did better than India during this period.

So, do you think the trend will continue going forward? Look out for the stocks that will rise fast when the tide of the market turns up.

In the news from the IT sector, Infosys share price is in focus today ahead of its January-March quarter (Q4FY19) results to be declared on Friday.

Shares of the company have surpassed their previous highs of Rs 771 touched in February.

The IT major had announced a buyback of 103.3 million shares worth Rs 82.6 billion at Rs 800 per share. Yesterday, the company said it has extinguished 7.2 million equity shares, bought back up to March 26, 2019.

Reports state that IT companies will witness a steady quarter with strong growth from Infosys, TCS and HCL Technologies while Wipro and Tech Mahindra will witness muted growth.

Growth will be led by increase in deals won by companies over the past two quarters. All companies reported strong deal flow in the December 2018 quarter (Q3FY19).

In other news, HCL Technologies share price is witnessing buying interest today on reports that the company is well-placed for organic growth acceleration in FY20, driven by strong deal win momentum in last couple of quarters.

The company's deals with Procter & Gamble, Nokia, Barclays and Xerox combined likely to contribute US$ 2.2 billion in revenue over next 6 years while deal with Broadcom will add US$ 120 million annually.

The IT company has signed 17 transformational deals during the quarter for another straight quarter driven by financial services, technology & services and manufacturing.

Reports state that bookings in FY19 were 40% higher than FY18. Expectations for Q4FY19 are to be a healthy quarter on the back of healthy bookings and deal pipeline in 9MFY19. As per an article, net sales of the company are expected to increase by 1-2%.

HCL Technologies share price is presently trading up by 1.9%.

You can also read HCL Tech Q3FY19 result analysis and HCL Tech Annual Report on our website.

Moving on to the news from the pharma sector, Panacea Biotech has received fund infusion of Rs 9.9 billion by Bain-Piramal fund.

Reportedly, the deal will help the company which has been under corporate debt restructuring (CDR) since 2014, retire debt of close to Rs 7.3 billion as on March 31, 2018, and pump in capital to grow business.

The company said the investment proceeds will be used for a one-time settlement with existing lenders, general working capital and growth requirements of the company.

This investment is structured by way of non-convertible debentures (NCDs) of up to Rs 8.6 billion and subscription amount of Rs 320 million towards share warrants to be allotted on a preferential basis.

Subject to exercise of warrants, India Resurgence Fund (IndiaRF) along with its affiliates will collectively end up owning 10.4% stake in the company on a fully diluted basis.

Panacea Biotech share price is presently trading up by 11.7%.

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

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