SGX Nifty Down 150 Points | Why FIIs and Mutual Funds Sold Metal, Energy Stocks | Top Buzzing Stocks Today

Mon, 17 Oct Pre-Open

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On Friday last week, Indian share markets continued their momentum throughout the day and ended on a firm footing.

Benchmarks BSE Sensex and NSE Nifty took cues from the overnight rally at Wall Street and soared, but trimmed gains towards the end.

The wholesale price-based inflation fell to 10.7% in September 2022 for the fourth consecutive month due to decrease in the cost of food, fuel, and manufactured goods further driving the market sentiment.

At the closing bell on Friday, the BSE Sensex stood higher by 685 points (up 1.2%).

Meanwhile, the NSE Nifty closed up by 171 points (up 1%).

Infosys, HDFC Bank, and HDFC were among the top gainers.

ONGC, Mahindra & Mahindra, and JSW Steel on the other hand, were among the top losers.

Broader markets ended on a flat note with the BSE Midcap index and the BSE SmallCap index ending 0.1% lower.

Since smallcaps interest you, check out the smallcap stocks with aggressive capex plans.

Sectoral indices ended on a mixed note with stocks in the IT sector, finance sector, and banking sector witnessing most of the buying.

On the other hand, stocks from the realty sector, power sector, and auto sector witnessed selling pressure.

Shares of TVS Motors, Sun Pharma, and RITES, hit their 52-week high on Friday.

Gold prices for the latest contract on MCX were trading down by 0.6% at Rs 50,884 per 10 grams, at the time of Indian market closing hours on Friday.

At 7:50 AM today, the SGX Nifty was trading down by 140 points or 0.8% lower at 17,070 levels.

Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Speaking of stock markets, Rahul Shah talks about ITC's performance in the volatile market, in his latest video.

ITC has defied the trend in a market, where even the highest quality firms have had trouble providing investors with favorable returns.

However, has the stock run up too fast, too soon? Is it still strong enough to post a hat-trick of gains in 2023?

Tune in to the below video to find out the answer:

Top Buzzing Stocks Today

Tarc share price will be among the top buzzing stocks today.

Delhi based real estate developer TARC will invest Rs 2.5 bn to develop a luxury residential project 'TARC Tripundra' on the main Bijwasan Road in New Delhi.

The company, which has recently raised Rs 13.3 bn from Bain Capital by way of NCD, will use part of the fund for the construction of this project while money from sale will be used to complete the project.

Mindtree share price will also be in focus today.

IT services provider Mindtree's clients are handing out more deals aimed at saving costs that can be rerouted to focus on business expansion, the company's CEO Debashis Chatterjee said.

His comments come in the backdrop of macroeconomic challenges in the US and geopolitical turmoil impacting energy prices in Europe.

Market participants will also track share price of HDFC and HDFC Bank.

The National Company Law Tribunal (NCLT) has given its nod for holding a shareholders' meeting for obtaining approval for the proposed merger of HDFC with HDFC Bank.

The shareholder meeting will be convened on 25 November 2022 for the purpose of considering and approving the Scheme of Amalgamation, HDFC said in a regulatory filing on Friday.

Once the deal is effective, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank.

Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held.

Post-merger HDFC Bank will be twice the size of ICICI Bank, which is the third-largest lender now.

FIIs Begin Selling

Following September's rate hike by the Federal reserve, Sensex has lost over 1,500 points while FIIs have withdrawn over Rs 274 bn from Indian markets.

Barring July and August, FIIs have been net sellers on Indian stock exchanges in all months of the calendar year 2022. The total outflow on a YTD basis stood at Rs 1,762.4 bn.

In September 2022, a bulk of the FII selloff was from 6 sectors - IT, oil and gas, metals, financials, realty and power.

Mutual funds also sold metal stocks and oil & gas stocks last month as these are cyclical stocks and are dependent on global demand. They could just as easily witness heavy selling.

Anand Rathi Q2 Results

Last week on Friday, shares of Anand Rathi hit a 52-week high after the company reported strong 41% year-on-year (YoY) growth in consolidated net profit at Rs 430 m.

This was on the back of healthy revenue growth. Total revenue increased 33% YoY at Rs 1.4 bn during the quarter.

Anand Rathi reported strong growth in asset under management (AUM) of 16% YoY at Rs 358.4 bn.

The board also declared Rs 5 per share interim dividend.

The management said the company delivered a strong performance across verticals coupled with an overall improvement in operational efficiencies.

In spite of the volatile market scenario the company has witnessed strong net flows of Rs 24.7 bn in H1FY23 which is more than double as compared to the net flows of Rs 12 bn same period of last year.

Sugar Companies Sign Big Deals

Sugar companies in India are signing deals with traders and exporters on optimism that the government will soon announce overseas sales quotas for the season that starts this month.

According to reports, mills in the South Asian country, which vies with Brazil as the world's top sugar producer, have so far contracted to export about 1.2 million tons and aim to ship as much as 8 million tons in the 2022-23 year.

Exporters are offering Indian mills about Rs 35 (43 cents) per kilogram for low quality white sugar compared with the domestic price of Rs 33, while raw sugar is attracting a price of Rs 33.5 from international buyers.

Domestic sugar production is forecast at 35.5 million tons this year, while consumption is seen at 27.5 million, according to the Indian Sugar Mills Association.

Booming Tourism Industry

Ahead of Diwali, flight searches for travel between 19 and 24 October, have witnessed a 124% rise for domestic flights in India.

For international destinations, flight searches were up by 133% higher than the pre-pandemic levels, according to the latest data.

The report further added that 21 October is expected to be the busiest day at Indian airports. The most expensive and the cheapest days to fly for return economy domestic flights over the holiday period will be 19 and 22 October respectively.

The festive season has driven the revival of the travel and hospitality sector. We recently wrote to you about how hotel stocks were booming.

All the top hotel companies have laid out their growth plans. Many speak of becoming debt free by 2025 and also add a lot of rooms.

To know what's moving the Indian stock markets, 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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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