Sensex Trades in Green; Bajaj Finance and ICICI Bank Top Gainers

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Stock markets in India are presently trading on a positive note. The BSE Sensex is trading up by 90 points and the NSE Nifty is trading up by 35 points. The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index are trading up by 0.5%.

Among the sectoral indices, capital goods and power stocks are witnessing selling pressure. Realty stocks and oil & gas stocks are trading in green.

• "Be fearful when others are greedy and greedy when others are fearful." - Warren Buffett

You'll hear this often but how do you practice this?

How do you know when everyone is greedy or fearful?

Well, the media is one source. When you hear headlines predicting gloom and doom, pessimism is strong all around.

Google trends are an interesting source too.

Are We Close to Peak Pessimism in the Stock Market?

The keyword 'Multibagger' tends to peak when there is euphoria all round. The same keyword drops when there is pessimism.

'Multibagger' search term peaked in India in Jan 2018. Mid and small caps were at multi-year highs. Since then, Mid and small caps corrected by 26% and 37% respectively.

Similarly, 'Multibagger' search was at its lowest in August 2013. Mid and small caps were at multi-year lows. Then from 1 Aug 2013 to 15 Jan 2018, mid and small caps were up by 233% and 282% respectively.

Currently, 'Multibagger' search is at its lowest levels. Like in 2013, retail investors are dumping stocks and looking for other safe assets.

Will history repeat itself?

In the news from the economy. Continuing its losing streak for the second straight month, India's merchandise exports dropped by 6.6% in September 2019 as compared to same period of last year, on the back of significant dip in shipments from key sectors like petroleum, engineering, leather, chemicals, and gems & Jewellery.

Trade deficit, gap between imports and exports, narrowed to a seven-month low of US$10.9 billion in September from US$15 billion a year ago.

As per the data released by the Commerce Ministry, merchandise exports fell by 6.6% to US$26 billion in September 2019, as compared to US$27.9 billion in the same month a year ago.

Cumulative value of exports for the period April- September 2019-20 was US$159.6 billion as against US$163.5 billion during the period April- September 2018-19, registering a negative growth of 2.4%.

On the other hand, Imports during September 2019, decreased by 13.9% to US$36.9 billion as compared to US$42.8 billion in September 2018.

Cumulative value of imports for the period April- September 2019-20 was US$243.3 billion, as against US$261.6 billion during the period April- September 2018-19, registering a negative growth of 7%.

Speaking of the macro picture of India, some recent economic numbers have confused investors.

In the video below, Tanushree Banerjee decodes a few economic myths and reveals three big trends of Rebirth of India.

Tune in...

Moving on to the news from the pharma sector. As per an article in a leading financial daily, US Food and Drug Administration (USFDA) has successfully concluded inspection at Indoco Remedies' sterile manufacturing facility in Goa (Plant II) from October 7 to October 15.

The inspection ended with 2 observations, neither of these are related to Data Integrity or the core Quality Management System and the company will respond to the FDA within the stipulated time.

The site continues to maintain its VAI status.

Meanwhile, Sun Pharmaceutical Industries' one of wholly owned subsidiaries has launched Drizalma Sprinkle (duloxetine delayed-release capsules) in the US for oral use.

Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) designed for the treatment of various neuro-psychiatric and pain disorders in patients who have difficulty swallowing - a problem that is estimated to affect approximately 30-35% of long-term care residents.

The US Food and Drug Administration (USFDA) had approved Drizalma Sprinkle on 19 July 2019.

At the time of writing, Sun Pharma share price and Indoco Remedies share price were trading up by 0.1% and 4.6% respectively.

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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Indian Share Market Update: Top Gainers and Losers