Sensex Ends 157 Points Higher; Metal and Power Stocks Rally

Wed, 26 Jun Closing

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Indian share markets traded on a positive note most of the day and ended higher. Gains were largely seen in the metal sector, power sector and realty sector, while IT stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 157 points (up 0.4%) and the NSE Nifty closed higher by 51 points (up 0.4%). The BSE Mid Cap index ended the day up 0.8% and the BSE Small Cap index ended the day up by 0.5%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 1.2% and the Shanghai Composite was down by 0.9%. The Nikkei 225 was down 0.4%.

Speaking of Indian share markets, when it comes to stock market performance, multinational corporations (MNCs) have outperformed the broader market.

The Nifty has a MNC index. This index comprises 15 listed companies. The foreign shareholding in them is over 50% and/or the management control is vested in the foreign company.

As can be seen in the chart below, this Nifty MNC Index has outperformed the Nifty 50 index in the last five years.

Nifty MNC Index Outperforms the Benchmark Index

Why the outperformance?

Sarvajeet Bodas answers this question in the recent edition of The 5 Minute WrapUp. He writes...

• Generally, MNCs have a vast global experience. These companies have weathered the competition in many markets across the world.
  
  Also, MNCs generally have strong parentage. This helps create strong brands and gain market share.
  
  Not to mention MNCs have strong balance sheets. This brings stability during times of market volatility.
  
  Similarly, in the past, MNCs have demonstrated good capital allocation. Hence they, consistently delivered high returns on capital.
  
  Finally, MNCs typically have high standards when it comes to board composition, corporate governance, and operational efficiency. All this helps to maximise shareholder wealth.

In Smart Money Secrets, we have recommended such a company from the MNC space.

If you haven't subscribed to Smart Money Secrets yet, you can access the report by signing up here.

In the news from energy sector, NTPC share price was in focus today. The stock of the company witnessed buying interest today after the company announced it had won solar energy projects by UPNEDA.

The state-run power major said it has won 40 megawatt (MW) solar energy projects in an auction conducted by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).

The projects shall be set up under EPC (engineering, procurement and construction) mode and shall add to the installed capacity of NTPC.

In the news from the commodity space, crude oil continued its momentum seen this week and witnessed buying interest today.

Oil prices rose over 1% today to hit their highest in nearly a month as widely-watched data showed US crude stockpiles fell more than expected.

As per the data, US crude stockpiles dropped by 7.5 million barrels in the week ended June 21 to 474.5 million. This compared with analyst expectations for a decrease of 2.5 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels.

Gains were also seen on the back of tensions between Iran and the United States.

Earlier this week, US Secretary of State Mike Pompeo said significant sanctions on Tehran would be announced soon which will be aimed at further choking off resources that Tehran uses to fund its activities in the region.

Market participants will be closely tracking crude oil prices in the coming weeks ahead of the OPEC meet.

The members of the Organization of the Petroleum Exporting Countries (OPEC) have agreed to meet on July 1, followed by a meeting with non-OPEC allies on July 2 where they will discuss whether to extend a deal on cutting 1.2 million barrels per day of oil production that runs out this month.

We will keep you updated on all the developments from this space. Stay tuned.

To know more on crude oil, you can read one of Vijay Bhambwani's recent articles: Is OPEC Dying?

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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