Sensex Trades above 39,900-Mark; Yes Bank & ONGC Top Gainers

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Share markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the IT sector and metal sector witnessing maximum buying interest, while realty stocks and capital goods stocks are trading in red.

The BSE Sensex is trading up by 132 points while the NSE Nifty is trading up by 34 points. The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading on a flat note.

Speaking of Indian share markets, what should be your investing strategy be for Modi's second term?

As per Richa Agarwal, Modi's victory seems to be the inflection point for a rebound in smallcap stocks.

You see, over the last one and a half year, a huge gap has emerged between smallcap index and Sensex.

Despite a lackluster performance on earnings front for both, smallcap stocks crashed...while Sensex flirted with lifetime highs.

Have a look at the chart below.

Since Jan 2018, the Sensex has gained 14% while smallcap index has lost 25%. That's a relative underperformance of 39%.

But this dichotomy cannot keep on growing forever.

As Richa writes in a recent edition of The 5 Minute WrapUp...

• You see, last time the market showed a similar trend was in the year 2013...just before Modi rose to power.
  
  Between January 2013 to August 2013, the smallcap index has crashed by over 30%, while Sensex stayed put. And smallcaps were approached with the same scepticism they have witnessed over the last year.
  
  But what happened after that was even more interesting.
  
  Within a few months post August 2013, the smallcap index caught up with the Sensex. And it didn't just catch up.
  
  Under Modi's first term, until January 2018, the smallcap index rose nearly four times versus a less than 2 times gain in Sensex.

As per Richa, history is going to repeat itself.

If you are interested in riding the volatility and earning great returns in the long term, you could join Richa's small cap club and invest in these 4 solid small caps.

In the news from the finance sector, Indiabulls Housing Finance share price is witnessing selling pressure today after media reports alleged the company for misappropriation of Rs 980 billion public money.

As per an article in a leading financial daily, a plea was filed in the Supreme Court on Monday seeking legal action against the company, its chairman and directors for alleged misappropriation.

The petition alleged that money was siphoned off by Sameer Gehlaut, the chairman of the firm for their personal use.

Here's an excerpt from the article:

• Abhay Yadav, the petitioner and one of the company's shareholders, alleged that Gehlaut, with the help of one Harish Fabiani - an NRI based in Spain, allegedly created multiple "shell companies" to which Indiabulls loaned huge sums of money under "bogus and non-existent pretexts.

Shares of the company slipped around 8% in early trade today on back of the above news. Lakshmi Vilas Bank share price, which proposed to merge with the company also slipped 7%.

In a regulatory filing, the company said that the allegations were bizarre as the total loans on the books were approximately 900 billion.

Indiabulls Housing Finance share price is presently trading down by 5.5%.

Moving on to the news from the automobiles sector, domestic passenger vehicle sales declined 20.6% to 2,39,347 units in May from 3,01,238 units in May 2018.

Domestic car sales were down 26.1% to 1,47,546 units as against 1,99,479 units in May 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Motorcycle sales last month declined 4.9% to 11,62,373 units as against 12,22,164 units a year earlier. Total two-wheeler sales in May declined 6.7% to 17,26,206 units compared to 18,50,698 units in the year-ago month.

Vehicle sales across categories registered a decline of 8.6% to 20,86,358 units from 22,83,262 units in May 2018.

Speaking of automobile stocks, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

She believes, this could be the opportunity long term investors were waiting for.

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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