Indian Share Market Opens Flat

Fri, 7 Oct 09:30 am

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Major Asian stock markets have opened the day on a negative note with stock market in Singapore and Hong Kong are trading lower by 0.4% each. Stock markets in Europe and the US too ended their previous session on a negative note with benchmark indices in UK ending their previous session trading lower by 0.5%.

The rupee is currently trading at 66.69 per US$.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally higher by 23 points (up 0.1%) and NSE Nifty is trading higher by 12 points (up 0.1%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.3% and 0.2% respectively.

Major sectoral indices have opened the day in green with stocks from oil & gas sector are witnessing maximum buying interest.

As per an article in Livemint, branded apparel makers have seen no signs of recovery in the topline in the second quarter of this financial year.

The sales have remained subdued on the back of hefty competition from the e-commerce players coupled with poor consumer sentiments.

Companies such as Aditya Birla Fashion and Retail, Shoppers Stop, Future Lifestyle Fashion Ltd have been facing the heat of this downtrend in shift of consumer preferences to buy products through e-commerce sites which offer huge discounts.

However, these players are positive of a recovery in the topline in the second half of this fiscal. They are bullish on the back of an upcoming festive season, favourable monsoon and an improvement in the consumer income.

Nevertheless, if the sales do not pick-up as expected, the market participants may well step up their promotion which in-turn may dent their operating margins.

Secondly, companies are still in the painful readjustment processes of expanding stores, production revamps and brand expansions. This means costs and business investments can remain high and potentially suppress earnings for some time. The share price of Aditya Birla Fashion and Retail and Shoppers Stop is trading up by 1.2% and 0.7% respectively.

In another news update, Indian companies have raised US$ 2.87 billion through an initial public offering (IPO) in the nine months ended September this year. Reportedly, in the preceding three years the cumulative fundraising through IPOs stood at US$ 2.7 billion.

Further, a long list of IPOs is scheduled to hit the markets in the coming months, including the likes of Continental Warehousing, Avenue Supermarts, Genesis Colors, GR Infraprojects, Shankara BuildPro. So the all-important question is-should one invest in them?

Well, we just made choosing the right IPO stock simpler for you.

While our general pessimism towards IPOs is well known, we do think a select few IPOs are fundamentally strong and leave some money on the table for investors.

Do check out our special report, The Handbook of IPO investing. Besides providing a checklist to help you identify the right IPOs, it has a special focus on insurance IPOs and how to value them.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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