Sensex Opens Higher; Automobile Stocks Gain

Tue, 24 Sep 09:30 am

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Asian share markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.4% while the Hang Seng is up 0.5%. The Nikkei 225 is trading up by 0.5%. US stocks barely budged on Monday, with slight gains in shares of Apple offset by mixed economic data that added to caution over the prolonged US-China trade war.

Back home, India share markets opened on a higher note. The BSE Sensex is trading up by 126 points while the NSE Nifty is trading up by 19 points. The BSE Mid Cap index and BSE Small Cap index opened up by 0.3% and 0.4% respectively.

Barring capital goods stocks and metal stocks, all sectoral indices have opened the day on a positive note with automobile stocks and oil & gas stocks witnessing maximum buying interest.

The rupee is currently trading at 70.79 against the US$.

According to data released by the NSDL, the FIIs as per Monday's data were net buyers in equity and debt segments both.

In equity segment, the gross buying was of Rs 171.9 billion against gross selling of Rs 166 billion. Thus, FIIs stood as net buyers of Rs 5.9 billion in equities.

In the debt segment, the gross purchase was of Rs 13.1 billion with gross sales of Rs 8.3 billion. Thus, FIIs stood as net buyers of Rs 4.9 billion in debt.

Now, let's have a look at the monthly foreign investor inflow trend over the last five years.

Will Foreign Investors Make a Comeback Now?

During the entire period, the net foreign investor inflows into Indian equities are worth Rs 1,182.8 billion. For a five-year period, that's not a significant amount at all. The reason being that, foreign investors have also done some heavy selling during this period.

Foreign investors have been net sellers in 27 out of the last 61 months. Even in the ongoing financial year, foreign investors have been net sellers.

So, will that change after the latest announcement by the Finance Minister?

Research analyst at Equitymaster, Ankit Shah believes that corporate tax cuts have the potential to revive the business and investment climate in the economy.

In his premium newsletter Insider, Ankit focuses on cherry-picking the best investing opportunities. Even after the jump in stock prices on Friday, many stocks are still trading below their best buy prices.

He believes, the best strategy in the current market is to accumulate quality stocks in a staggered manner as and when prices are attractive.

Moving on to the news from the pharma sector. As per an article in a leading financial daily, Zydus Cadila has received an Establishment Inspection Report from the US health regulator for its manufacturing facility located at Ankleshwar in Gujarat.

The US Food and Drug Administration (USFDA) had conducted an inspection at the facility from July 22-26 this year.

The EIR report stated that the classification of the facility is No Action Indicated (NAI).

The USFDA issues an EIR to an establishment that is the subject of FDA-contracted inspection when the agency decides to close the inspection.

Cadila Healthcare share price opened up by 0.2%.

To know more about the company, you can access to Cadila Healthcare's 1QFY20 result analysis and Cadila Healthcare's stock analysis on our website.

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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