Indian Indices Witness Volatility, HDFC Bank Q4 Result, Stocks in Focus, and Top Cues to Track Today

Tue, 21 Apr Pre-Open

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Share markets in India ended on a flat note yesterday.

Benchmark indices fluctuated between gains and losses, tracking weakness in global peers.

Sectoral indices ended on a mixed note with stocks in the metal sector and telecom sector witnessing selling pressure, while IT stocks and energy stocks witnessed buying interest.

At the closing bell yesterday, the BSE Sensex stood higher by 59 points while the NSE Nifty ended on a flat note.

The BSE Mid Cap index ended down by 0.2%, while the BSE Small Cap index ended up by 0.8%.

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Top Stocks in Focus Today

From the automobile sector, TVS Motors share price will be in focus today as the company has acquired Britain's Norton Motorcycles for Rs 1,531.2 million.

In a statement to exchanges, the company said that it has acquired Britain's most iconic sporting motorcycle brand Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries.

From the aluminium sector, NALCO share price will also be in focus today as the company has been granted the mining lease of the Utkal-D coal block by Odisha government. The Navratna CPSE, one of the leading producers of alumina and aluminum in the country, has been granted the mining lease by the state government through a notification issued on April 16, by the Steel and Mines department.

Market participants will also be tracking Kotak Mahindra Bank share price as the lender is planning to raise capital, which will help promoter Uday Kotak lower his stake in the institution and comply with Reserve Bank of India (RBI) regulations.

Reportedly, the bank is planning to sell 4% of its promoter stake.

HDFC Bank Reports Strong Q4 Results

HDFC Bank's net interest income (NII) grew 16.2% year-on-year (YoY) at Rs 152 billion in the January-March quarter (Q4FY20).

The bank's profit before tax (PBT) was up 2.5% at Rs 91.7 billion YoY, due to higher provisioning in the light of the Covid-19 crisis.

The bank's net interest margin (NIM) stood at 4.3% in Q4FY20. The private lender's NIM stood at 4.2% in Q3FY20.

Overall, the bank reported a 15.4% rise in consolidated net profit at Rs 72.8 billion for Q4FY20. The bank had posted a net profit of Rs 63 billion during the corresponding quarter last year.

Asset quality improved sequentially as gross non-performing assets (GNPA) declined by 16 basis points (bps) quarter-on-quarter, of which 10 bps improvement was due to moratorium benefit.

Gold Witnesses Selling

In news from the commodities space, domestic gold prices fell yesterday, tracking a decline in global rates. On Multi Commodity Exchange (MCX), June gold futures fell 0.8% to Rs 45,310, extending the previous session's Rs 1,600 decline.

In global markets, gold prices dropped to over one-week low amid a firm dollar. The dollar strengthened 0.15% against key rivals to 99.98, making gold costlier for investors holding other currencies.

Note that gold prices are soaring to new highs, tracking the world economy, which is heading into a recession amid the Covid-19 crisis.

June gold futures crossed the Rs 47,000-mark per 10 grams on 16 April for the first time during intraday trade on MCX.

Speaking of gold, in one of his videos, Vijay Bhambwani explains why the bull market in gold may get bumpy going ahead.

You can check the same here: A Timely Warning About Gold

FPIs Continue to Leave Indian Capital Markets

Foreign portfolio investors (FPIs) have withdrawn a net Rs 126.5 billion from the Indian capital markets in April so far amid the coronavirus crisis.

Between April 1 to 17, FPIs pulled out a net sum of Rs 38.1 billion from equities and Rs 88.4 billion from the debt segment, the depositories data showed.

The total net outflow stood at Rs 126.5 billion.

However, April has been a tad better compared to March, when overseas investors had withdrawn a record Rs 1.1 trillion on a net basis from the Indian markets (both equity and debt).

The coronavirus impact has shaken markets worldwide. Indian stock markets have felt the full impact too.

For the BSE Sensex, FY20 was the second worst year post FY08, the year of the global financial crisis.

Good Time to Start Investing Now?

HYPERLINK "https://www.equitymaster.com/5MinWrapUp/charts/index.asp?date=04/02/2020&story=1&title=Good-Time-to-Start-Investing-Now&utm_source=TM&utm_medium=website&utm_campaign=MCOM&utm_content=market-commentary" https://www.equitymaster.com/5MinWrapUp/charts/index.asp?date=04/02/2020&story=1&title=Good-Time-to-Start-Investing-Now&utm_source=TM&utm_medium=website&utm_campaign=MCOM&utm_content=market-commentary <>

Naturally, there is an atmosphere of fear all round.

Is it time to sell stocks now? Will the correction get worse?

History has shown that after years like the one we had just now, the next 3 years are good for the markets. In fact, these corrections are the rare times when you find businesses with solid fundamentals at reasonable valuations.

If you can find good businesses that can survive the current crisis, you will do well in the long run.

And 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!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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