Crude Oil Sees Buying, FPI Equity Inflows Rise, and Top Cues in Focus Today

Wed, 27 May Pre-Open

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Indian share markets ended marginally lower yesterday as benchmark indices gave up early gains and slipped into the red during the last hour of trading.

At the closing bell yesterday, the BSE Sensex stood lower by 63 points and the NSE Nifty closed down by 10 points.

The BSE Mid Cap index ended the day up by 1.2%, while the BSE Small Cap index ended up by 0.6%.

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

Asian stock markets witnessed buying yesterday as Prime Minister Shinzo Abe on Monday lifted the state of emergency for the entire nation and gave his support for a huge new stimulus package. Investors were also stunned by news last week that Beijing plans to implement a controversial national security law in the financial hub.

Note that stock markets around the world have witnessed one of the most volatile phases in 2020 so far.

One month we see a sharp decline, followed by a sharp up move the next month. One day we hear positive news of a vaccine for the virus. Another day, a WHO scientist says we might have to live with this virus for years.

Naturally, investors are confused as to what they should do? Buy, hold or sell their stocks?

In the video below, Girish Shetty, Research Analyst at Equitymaster, explains the current scenario and what are the type of stocks investors should buy, hold or sell in the current crisis.

Tune in to find out more...

IDFC First Bank Posts Profit in Q4FY20

IDFC First Bank share price will be in focus today as the lender swung to profit in the March quarter.

IDFC First Bank reported a consolidated net profit of Rs 763.6 million for Q4FY20. It had posted a loss of Rs 2,120 million during the corresponding quarter a year ago.

The bank's total income rose to Rs 45.5 billion as against Rs 39.7 billion during the same period last year.

For the full year 2019-20, the bank reported a net loss of Rs 28.4 billion as against Rs 19.1 billion in the previous fiscal.

The bank said that in view of accounting for IDFC - CFL (Capital First) merger from appointed date of October 1, 2018, the figures of the year ended March 31, 2020, are not comparable.

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

Apart from the above, market participants will also be tracking Deepak Nitrite share price, Wonderla Holidays share price and Torrent Pharma share price as these companies announced their March quarter results (Q4FY20) yesterday.

You can read our recently released Q4FY20 results of other companies here: Apollo Tyres, Ajanta Pharma, Grindwell Norton, Jubilant Foodworks, Birla Corporation, Bata India.

Bharti Telecom Sells Some Stake in Bharti Airtel

From the telecom sector, Bharti Airtel share price will be in focus today.

Shares of the company witnessed huge selling pressure yesterday after its promoter, Bharti Telecom, sold some stake in the telecom services provider through open market deals today.

Around 155.71 million equity shares representing 2.9% of total equity of Bharti Airtel changed hands on the BSE, the exchange data showed.

Reportedly, Bharti Telecom was to sell 2.8% stake worth US$ 1 billion in the telecom company via block deals. Up to 150 million shares were available for prospective investors through a book-built offering.

The shares were being offered to large, high networth investors at 6% discount to the closing price as on March 22. JP Morgan was to manage the sale with a floor price of Rs 558 per equity share.

As of March 31, 2020, Bharti Telecom held about 38.8% stake in Bharti Airtel which will be reduced by 2.8% after this deal.

FPIs Invest Rs 90 Billion in Indian Equities in May So Far

Foreign investors have infused over Rs 90 billion into the Indian equity markets in May so far amid attractive valuations of stocks and a mega block deal involving HUL.

The inflow comes following a net withdrawal of Rs 68.8 billion in April and Rs 619.7 billion in March on fears of a coronavirus-induced global recession.

According to depositories data, FPIs invested a net sum of Rs 90.9 billion in the equity markets during May 1-22.

However, they pulled out a net Rs 214.2 billion from the debt markets during the period under review.

Note that the coronavirus impact has shaken markets worldwide. After all, 2020 has already seen one of the worst market crashes in history.

Will the 2020 Market Crash Be Worse than 2009?

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.

Crude Oil Prices Rise on Signs of Supply Cuts

Crude oil prices rose yesterday on signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world.

Oil markets were buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with the Organization of the Petroleum Exporting Countries (OPEC) and other leading producers.

US West Texas Intermediate (WTI) crude futures were trading up by 2.3% at US$ 34.00 yesterday.

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices.

In April, the big producers had agreed to cut output by nearly 10 million bpd for May and June.

Russia's energy ministry on Monday quoted minister Alexander Novak as saying a rise in fuel demand should help cut the current global surplus of around 7-12 million bpd by June or July.

Speaking of crude oil, on a year-to-date (YTD) basis, crude oil prices are down about 42%.

Crude oil witnessed selling during the start of the year due to oversupply concerns amid subdued demand.

Prices crashed further in March in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In April, crude oil futures crashed and briefly went to negative prices, implying that investors would need to pay buyers to take delivery of crude oil amid dwindling storage space.

In one of his recent videos, Vijay Bhambwani, editor of Fast Profits Daily, has explained why he's expecting to recommend a short sell trade on crude oil.

You can check out his video and know more here: You Will Get a Chance to Short Crude Oil Once Again

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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