Sensex Ends 152 Points Lower, Nifty Falls Below 15,700; Metal & FMCG Stocks Witness Selling

Wed, 15 Jun Closing

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Indian share markets ended on a weaker note today as global investors treaded cautiously in anticipation of aggressive rate hike actions by the US Federal Reserve.

At the closing bell, the BSE Sensex declined 152 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 40 points (down 0.3%).

Bajaj Finance, Bajaj Finserv, and L&T were among the top gainers today.

NTPC, Infosys, and Reliance Industries, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,677, down by 61 points, at the time of writing.

Bucking the trend, The BSE MidCap index and the BSE SmallCap index ended higher by 0.5% each.

Among the sectoral indices, stocks in the metal sector, FMCG sector, and IT sector witnessed most of the selling.

On the other hand, some buying was seen among stocks in the auto sector and banking sector.

Shares of Varun Beverages hit their 52-week high today.

The stock market is falling as there are inflation worries and geopolitical tensions remain overhang.

Amid the volatility, many stocks have hit their 52-week lows, despite strong fundamentals.

In this uncertainty, check out these 5 fundamentally strong companies which pay regular dividends and are undervalued.

Asian stock markets ended mixed today ahead of a key US Federal Reserve decision, with expectations of an even tougher rate hike than previously telegraphed.

The Nikkei plunged 1.1% while the Shanghai Composite added 0.5%. The Hang Seng climbed 1.1%.

European shares rallied in early trade, after a spokesperson of the European Central Bank said its rate-setting Governing Council would hold an unscheduled meeting to discuss the recent sell-off in government bond markets.

US stock futures are trading on a positive note with the Dow Futures trading up by 94 points.

The rupee is trading at 78.16 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.8% at Rs 50,595 per 10 grams.

As we mentioned earlier, the Indian stock market is falling which has traders and investors worried.

The one question on every investor's mind these days is are we in a bear market.

With the help of multiple charts, India's #1 trader Vijay Bhambwani offers his 360 degree worldview view to answer this question.

Tune in to the below video to find out more:

Speaking of stock markets, lead smallcap analyst at Equitymaster Richa Agarwal explains why it's neither time to be fearful nor greedy to invest in the smallcap space.

According to Richa, this is the time to be highly selective.

The chart above is the Smallcap to Sensex ratio. Despite the sharp rally in smallcaps, the ratio is 0.47 now.

At this level, it's closer to the long-term median of 0.43 to 0.44, than to the previous peak of 0.58 in January 2018, or the higher peaks earlier.

As per Richa, in the long term, and within this decade, there is a potential for Sensex to touch 1 lakh.

At median, this would imply 43,000 for smallcap index, versus 26,384 now. The individual smallcaps could fetch gains much higher than the index.

But you need to select the best smallcap stocks if you want to ride the rally.

In news from the financial services space, share price of One 97 Communications climbed on the back of good operating performance reported by subsidiary Paytm.

The company said its lending business witnessed a 471% year-on-year growth during the two months ending May 2022.

The number of loans disbursed through Paytm's platform surged to 5.5 m. The value of the loans disbursed grew 829% to Rs 35.7 bn.

The gross merchandise value processed through the platform during the period under review aggregated approximately to Rs 2 bn marking a 105% growth on a yearly basis.

The company said it witnessed increased user engagement on Paytm Super App with average monthly transacting users at 74.3 m up 48% YoY.

On the other hand, Paytm's leadership in offline payments continued with deployment of 3.4 m devices at merchant stores across the country.

The strong adoption of devices also has a correlation with the rise in merchants eligible for loans from the company's platform.

In an otherwise weak market, One 97 Communications share price ended 1.3% higher on the BSE today.

Note that fintech was the one space that caught Warren Buffet's attention lately. Here are 4 hidden investment ideas from his recent buying spree.

Moving on, five Tata Group stocks turned ex-date for final dividend in today's trading session.

These companies are Tata Steel, Tata Power Company, Tata Exlsi, Tata Chemicals, and Tinplate Company of India.

Tata Steel had announced a final dividend of Rs 51 per share, while Tata Elxsi approved a final dividend of Rs 42.5 per share.

The announced final dividend of Tata Chemicals was Rs 12.5 per share, followed by Tinplate Company (Rs 4 per share) and Tata Power (Rs 1.75 per share).

Barring Tata Power, all the companies ended lower on the bourses today.

On 3 May 2022, the board of directors of Tata Steel approved the proposal for sub-division of 1 equity share having face value of Rs 10 each into 10 equity shares having face value of Re 1 each.

The step was taken in order to enhance the liquidity in the capital market, to widen shareholder base, and to make the shares more affordable to small investors.

In the past three months, Tata Steel has underperformed the market by falling 22%.

The government's policy on imposition of export duty on iron ore, pellets, and certain categories of steel has depressed domestic prices.

Tata Steel is among the top 6 undervalued stock that you should add to your watchlist.

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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