Sensex Down Over 200 Points; ONGC & Kotak Mahindra Bank Top Losers

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Share markets in India are presently trading on a negative note, tracking weak global cues as investors fretted over weak economic data and rising COVID-19 cases.

The BSE Sensex is trading down by 247 points while the NSE Nifty is trading down by 68 points.

The BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading on a flat note.

Sectoral indices are trading on a mixed note with stocks in the power sector and banking sector witnessing selling pressure, while healthcare stocks are trading in green.

The rupee is trading at 76.01 against the US$.

Gold prices are currently trading down by 0.1% at Rs 45,360.

Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.

You would be interested in knowing when the market will likely bottom out.

Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.

You can check the same here - This is When the Stock Market Will Bottom Out

Moving on, market participants are tracking RBL Bank share price, Cyient share price and Gillette share price as these companies are scheduled to announce their March quarter results later today.

You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, HUL, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems.

In news from the FMCG sector, shares of Hindustan Unilever (HUL) slipped 5% in early trade today after UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals.

According to the term sheet, over 133 million shares are being offered in the range of Rs 1,850-1,950 to investors through a special block window. The deal will be valued roughly between Rs 246 billion to Rs 259 billion.

GSK and Horlicks are selling up to US$ 3.4 billion worth of HUL shares through what could be India's biggest secondary market block trades.

The British drug maker is looking to monetise about 5.7% of HUL stock it had got after last year's merger of GSK Consumer Healthcare and HUL.

As per the scheme of amalgamation amongst GSK Consumer Healthcare and HUL, GlaxoSmithKline Pte had received 54.08 million shares of HUL, meanwhile Horlicks received 79.69 million shares.

Accordingly, parent company Unilever Plc and group companies' stake in HUL reduced to 61.9%, from 67.2% earlier after the issue of new shares.

HUL share price is presently trading down by 1.7%.

Moving on to news from the banking sector, Yes Bank share price is in focus today. Stock of the private lender surged 20% today after the bank reported better-than-expected March quarter (Q4FY20) results.

Yes Bank posted a net profit of Rs 26.3 billion on the back of one-time gain attributed to an exceptional item of Rs 63 billion.

The bank has written-down additional tier-1 bonds as part of its planned reconstruction scheme, leading to a one-time gain of Rs 63 billion.

In the absence of the exceptional gain, the bank would have reported a net loss of Rs 36.7 billion.

The bank had reported a net loss of Rs 15.1 billion a year ago, while the same was Rs 185.6 billion in Q3FY20.

The bank's net interest income (NII) for the March quarter came in at Rs 12.7 billion, up 19.6% sequentially.

Net interest margin (NIM) for Q4FY20 came in at 1.9%, compared to 3.1% a year ago.

On the asset quality front, gross non-performing assets (NPA) fell 19% QoQ to Rs 328.8 billion, mostly on account of write-offs.

The bank's deposits plunged to Rs 1.05 lakh crore, down 54% YoY compared with Rs 2.27 lakh crore.

Meanwhile, Advances declined 29% YoY to Rs 1.7 lakh crore from Rs 2.4 lakh crore in the year-ago quarter.

For the financial year 2019-20 (FY20), the private lender posted a loss of Rs 164.2 billion, on a standalone basis, compared to net profit of Rs 17.2 billion in the previous year.

To know more, you can read Yes Bank's latest result analysis on our website.

Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.

This is evident from the chart below:

India's Huge Lending Opportunity

HYPERLINK "https://www.equitymaster.com/5minWrapUp/charts/index.asp?date=02/27/2020&story=1&title=02272020-India's-Huge-Lending-Opportunity&utm_source=TM&utm_medium=website&utm_campaign=MCOM&utm_content=market-commentary" https://www.equitymaster.com/5minWrapUp/charts/index.asp?date=02/27/2020&story=1&title=02272020-India's-Huge-Lending-Opportunity&utm_source=TM&utm_medium=website&utm_campaign=MCOM&utm_content=market-commentary <>

Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

• Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.
  
  The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.
  
  Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.
  
  Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them 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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Indian Share Market Update: Top Gainers and Losers