Sensex Trades in the Red; Realty Stocks Witness Selling

Wed, 12 Apr 11:30 am

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After opening the day on a flat note, the Indian share markets witnessed further losses and are presently trading in the red. Sectoral indices are trading on a negative note with stocks in the realty sector and power sector witnessing maximum selling pressure.

The BSE Sensex is trading down 188 points (down 0.6%) and the NSE Nifty is trading down 55 points (down 0.6%). The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading down by 0.7%. The rupee is trading at 64.69 to the US$.

Most of the selling pressure in domestic share markets is seen on the back of weak global cues. Tensions has escalated in the Korean Peninsula following a warning from North Korea of a nuclear attack on the US.

North Korea warned on Tuesday of a nuclear attack on the United States at any sign of aggression, as a US Navy strike group steamed toward the Korean peninsula. The tension was further intensified by comments from the US President Trump saying that North Korea was looking for trouble and the US would solve the problem with or without China's help.

All this unease has led to most of the volatility in the global financial markets. The VIX, of the so-called fear gauge of the Wall Street, climbed to a level unseen since November after the announcement.

Speaking of VIX, Apurva Seth, editor at Daily Profit Hunter, has written on how one can balance risks and rewards gauging the present levels of the India VIX.

Going by the present levels, the Indian VIX is trading near its all-time lows, as can be seen from the below chart:

India VIX: The Fear Indicator

The India VIX is a good gauge of fear and greed in the markets: When VIX is at a low, market participants are greedy. When it's at a high, they are fearful. And the present levels of the Indian VIX depict that market participants are greedy and thus one needs to be fearful.

So despite the prevalent buoyancy seen in the stock markets, one should look for the fundamentals of the business and the attractiveness of valuations before buying any stock.

Moving on to the news from the commodity markets... Crude oil is witnessing buying interest today. This is seen as Saudi Arabia is reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.

More production cuts will mean curb in crude oil supplies and support Brent crude oil prices.

But despite the recent surge, crude oil prices have been remarkably silent over the last two years. Prices have remained within a tight range, rarely dropping below $40 or rising above $60. Volatility has crashed. And if you are trading crude oil, it's critical to understand why this has occurred.

The recent issue of Vivek Kaul's Inner Circle (requires subscription) explains what has triggered the above taming in crude oil prices.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

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

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