Indian Indices Trade on a Volatile Note; Metal Sector Up 2.3%

Wed, 17 May 11:30 am

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After opening the day marginally lower, Indian share markets witnessed slight gains and are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the metal sector, and power sector leading the gains. Consumer durables stocks are trading in the red.

The BSE Sensex is trading up 8 points (up 0.03%) and the NSE Nifty is trading down 6 points (down 0.1%). The BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.1%. The rupee is trading at 64.02 to the US$.

Indian indices are trading on a volatile note today due to a host of global as well as domestic factors. Weakness across global financial markets led by poor Japanese industrial production data for March and the fresh controversy over Trump's intelligence disclosure to Russia has kept gains in domestic stock markets in check.

Volatility is also seen ahead of the quarterly result announcements by various domestic companies today. JSW Steel, Hindustan Unilever, Bajaj Finance, MRPL, Allahabad Bank, Bajaj Finserv, and United Beweries are some of the BSE-listed companies scheduled to report their quarterly results today.

But despite the above events, Indian share markets have continued to rally of late. However, it's not the fundamentals that is driving the markets, but the liquidity. As we stated in a recent The 5 Minute WrapUp...

• One must note that currently, in most of the cases, it is liquidity driving the valuations, and not fundamentals. And this is exactly the time when one must allow fear to substitute greed.
  
  Also, this is precisely the time when it is most difficult to overpower greed and stay disciplined.

Time to Be Fearful?

Among all this hoopla, we would remind you focus on the fundamentals and long term moats of companies before deciding to invest in them.

This brings us to the question of how can one make money in a volatile yet rising market?

We believe a few super investors could provide the clue. These are the guys who've beaten the markets black and blue and have an eye for multi bagger stocks irrespective of the macro environment.

With respect to which super investors to follow, my colleague Kunal and Rohan have could be of great help courtesy their project, The Superinvestors of India.

To know more about these superinvestors and their stock picking approach, download a free copy of -The Super Investors Of India.

In other news, as per an article in the Economic Times, India was the third worst hit nation by ransomware WannaCry. More than 40,000 computers were affected even though no major corporate or bank reported disruption.

It may seem that the core connected systems in the country have remained largely unscathed from the attack. But it is imperative to note that this was just one attack, and most of the systems were caught off guard with preventive measures becoming active only after the ransomware attack was already spreading like wildfire.

It is only a matter of time before such an attack occurs on an even larger scale and pose a risk of disruption in the financial system in India.

As we stated earlier today... "India needs to take measures to make the whole financial system more secure and foolproof. If nothing else, the recent ransomware attack is both a wakeup call, and a sign of things to come."

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

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