Sensex Opens Over 350 Points Down; Metal and Realty Stocks Fall

Mon, 6 May 09:30 am

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Asian share markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 4.9% while the Hang Seng is down 3.5%. The Nikkei 225 is trading down by 0.2%. US stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April coupled with muted wage gains left investors upbeat about the outlook for the economy and interest rates. The Nasdaq registered a record high close, while the S&P 500 ended just shy of a record high finish.

Back home, India share markets opened on a weak note following their Asian peers. The BSE Sensex is trading down by 366 points while the NSE Nifty is trading down by 113 points. The BSE Mid Cap index and BSE Small Cap index opened down by 0.9% and 0.6% respectively.

All sectoral indices have opened the day on a negative note with metal and realty stocks witnessing maximum selling pressure.

The rupee is currently trading at 69.08 against the US$.

In the news from the economy. Oil prices tumbled by more than 2% today after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies.

US West Texas Intermediate (WTI) crude futures were at US$60.44 per barrel today, down US$1.5 per barrel, or 2.4% from their last settlement.

Brent crude oil futures were at US$69.34 per barrel, down US$1.51 per barrel, or 2.1% from their last close.

Trump on Sunday said on Twitter he would drastically hike US tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures.

The Wall Street Journal reported that Beijing is considering cancelling all trade talks with Washington.

Within the oil industry, there are signs of a further rise in output from the United States, where crude production has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd.

That has made the United States the world's biggest producer ahead of Russia and Saudi Arabia.

The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, the reports noted.

Now how this pans out going forward remains to be seen.

In the news from the FMCG sector. Hindustan Unilever (HUL) has registered 14% jump in its March quarter (Q4FY19) net profit at Rs 15.4 billion against Rs 13.5 billion in the same quarter last fiscal.

Revenue of the company increased by 9% to Rs 99.5 billion against Rs 91 billion.

The company's domestic consumer business growth stood at 9%, while underlying volume growth was at 7%.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 13% at Rs 23.2 billion, while margin was at 23.3%.

The company has reported a one-time cost of Rs 710 million payable with respect to acquisition and restructuring cost.

Profit before the exceptional item stood at Rs 15.9 billion.

The home care revenue was up 13% at Rs 35 billion, while home care EBIT rose 21.1% at Rs 6.2 billion.

Talking about the consumer facing business and their valuations, ideally you should first look at its financials.

If we look at Hindustan Unilever's last ten-year financials, we can see what a consumer facing business looks like.

These Are the Numbers of a True Consumer Facing Company

The brand not only helps them with pricing power, it also helps them use less working capital and fixed assets which in turn magnifies the return ratios.

This is the reason you will never find consumer facing businesses cheap. They will always command a premium valuation.

This is why, at Smart Money Secrets, Sarvajeet and Radhika are looking for companies that are changing their business models to become consumer facing.

While, this transition may take some time, they believe, if we are able to catch these kinds of businesses early, these stocks can create huge wealth for subscribers.

HUL share price opened the day down by 0.9%.

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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