Sensex Ends Higher, Rising SIP Closure Ratio, Stocks in Focus, and Top Cues to Track Today

Fri, 24 Apr Pre-Open

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Indian share markets ended on a strong note yesterday.

At the closing bell yesterday, the BSE Sensex stood higher by 484 points (up 1.5%) and the NSE Nifty closed higher by 126 points (up 1.4%).

The BSE Mid Cap index ended up by 0.9%, while the BSE Small Cap index ended the day up by 1.4%.

On the sectoral front, gains were largely seen in the IT sector, banking sector, and finance sector.

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Top Stocks in Focus Today

From the automobile sector, Ashok Leyland share price will be in focus today as authorities have given the green light to the truck-maker to start three of its plants.

The government had relaxed guidelines for extended lockdown and allowed industrial units in rural areas or outside municipal limits to resume partial operations under strict safety and hygiene conditions from April 20.

Zee Entertainment share price will be in focus today on the back of a bulk deal. As per the data, Florida Retirement System bought 51,09,188 shares of Zee Entertainment Enterprises at Rs 141.29 a share. This puts the deal of the size at Rs 721.8 million.

Market participants will also track Network18 Media & Investments as the company reported a consolidated profit of Rs 590 million driven by strong operating EBITDA and revenue.

It had posted a loss of Rs 760 million in the corresponding quarter last year.

Apart from above, Britannia share price, Bharti Infratel share price and Mahindra CIE Auto share price will be in focus as these companies also announced their March quarter results (Q4FY20) yesterday.

You can read our recently released Q4FY20 results of other companies here: Wipro, TCS, Infosys, HDFC Bank, Tata Elxsi.

Gold Prices Witness Buying

Gold prices traded up by 0.6% at Rs 46,420 per 10 grams yesterday.

Domestic gold futures rose above the Rs 46,000 per 10 grams mark despite weakness in global rates.

In the international market, gold prices eased yesterday as investors booked profits from a near 2% rally in the previous session, while US stimulus measures to ease the economic blow from the coronavirus outbreak limited losses and kept prices above US$ 1,700 an ounce.

In one of his recent videos, Vijay Bhambwani explains why gold prices will go higher in the coming days.

You can check the same here: The Price of Gold Will Go Higher

Also, speaking of gold, you will be surprised to know that the safe haven has outperformed equities over a 15-year period.

Have a look at the chart below:

An equal amount of Rs 100 invested in both gold and Sensex in 2004 would have generated higher returns in gold by a wide margin.

Your total investment in gold and Sensex would be valued at Rs 687 and Rs 410, respectively.

So, investors in gold are happier than investors in Sensex or equities at this moment.

SIP Closure Ratio Rises in March

Shares of asset management companies (AMCs) will be in focus today. This comes as data available showed that the closure ratio of systematic investment plans (SIPs) rose to 70% in March, above the 11-month average of 57.4%.

New customer registrations also declined by 25% month-on-month.

Reacting to the above news, shares of HDFC AMC and Nippon Life AMC are under pressure since Monday.

Reportedly, inflows through SIPs have accounted for 79% of equity inflows in the past four years.

For HDFC AMC and Nippon Life AMC, monthly SIP inflows were Rs 12.8 billion and Rs 8.5 billion, respectively.

How these numbers look in the coming months remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Crude Oil Futures Witness Buying

In news from the commodity space, crude oil futures rose to Rs 1,218 per barrel yesterday as participants increased their long positions. In the futures market, crude oil for May delivery touched an intraday high and low of Rs 1,238 and Rs 960 per barrel on the MCX.

Prices rebounded after the record fall as some producers started to cut production to overcome the supply glut caused by the novel coronavirus pandemic.

Gains were also seen as US President Donald Trump's tweet instructing US Navy "to shoot and destroy any and all Iranian gunboats if they harass our ship at sea" last night forced short sellers to cover their positions.

In his latest video, Vijay Bhambwani shares his thoughts on the recent crude oil crash.

He talks about whether we should be celebrating lower crude prices, or should we be worried?

You can check the same here: Crude Oil Prices Have Crashed. What Does it Mean for India?

Also, Monday and Tuesday have been two of the most turbulent days in the history of oil trading, as investors confronted the reality that worldwide supply will overwhelm demand for months or years and current production cuts to offset that glut are nowhere near sufficient.

Tuesday set a new milestone as more than 2 million contracts for US crude for delivery in June changed hands, the busiest day in history.

US crude oil futures collapsed below US$ 0 earlier this week on Monday for the first time in history, amid a coronavirus-induced supply glut.

The futures ended the day at a stunning minus US$ 37.63 a barrel as desperate traders paid to get rid of oil.

Vijay has also recorded a video on this which you may access here.

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!

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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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