Indian Share Markets End Flat; Healthcare and FMCG Stocks Witness Buying

Mon, 15 Nov Closing

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Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

Benchmark indices fluctuated between gains and losses amid volatility with selling seen in metal, telecom and PSU banking stocks.

At the closing bell, the BSE Sensex stood higher by 32 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 7 points (up 0.1%).

Power Grid Corp and ONGC were among the top gainers today.

Coal India and Tata Steel, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,140, up by 6 points, at the time of writing.

The BSE Mid Cap index ended up by 0.4%, while the BSE Small Cap index ended down by 0.2%.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and FMCG sector witnessing buying.

Metal and telecom stocks, on the other hand, witnessed selling pressure.

Shares of Bata India and Adani Enterprises hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng ended up by 0.3%, while the Shanghai Composite ended down by 0.2%. The Nikkei ended up by 0.6% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 66 points.

The rupee is trading at 74.48 against the US$.

Gold prices for the latest contract on MCX are trading on a flat note today at Rs 49,302 per 10 grams.

In news from the finance sector, Max Ventures and Industries was among the top buzzing stocks today.

Max Ventures and Industries tumbled 14% to Rs 130.5 after the company said it will sell its remaining 51% stake in specialty films business to Japanese partner, Toppan, for Rs 6-6.5 bn in all-cash deal.

Max Ventures & Industries has entered into a definitive agreement with its existing Japanese strategic partner in Max Speciality Films - Toppan Printing - to divest its remaining 51% stake in the specialty packaging films business for an enterprise value of Rs 13.5 bn, translating into an equity value of about Rs 6-6.5 bn (subject to customary adjustments). Toppan would also be taking over the debt of Max Ventures as part of the deal.

After acquisition of 49% stake in 2017 for about Rs 2 bn Toppan became a strategic partner of Max Ventures.

Post this exit, the firm will completely focus on the real estate business in the premium residential and commercial space in Delhi-NCR.

Commenting on the stake sale, Sahil Vachani, MD & CEO of Max Ventures, said,

• The decision to divest our residual 51% stake in specialty packaging business to the existing partner is to generate additional growth capital to deploy in the real estate business that offers tremendous growth opportunities.

After the divestment, the company will be able to create a war-chest of more than Rs 10 bn funded from sale proceeds, internal accruals, and potential commitment from financial investors. This will help in expanding the residential and commercial real estate footprint.

Max Ventures and Industries share price ended the day down by 11.2% on the BSE.

Speaking of the current stock market scenario, note that the BSE smallcap index has surged more than 180% since the crash in March 2020.

Despite the index being up more than 1.8 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

Here's why...

The Smallcap to Sensex ratio, a metric referred to get a sense of relative valuations, currently stands at 0.48 times. To be sure, this is higher than a median of 0.43 times.

And yet, it's the lowest of all the peaks in the smallcaps so far. In the last cycle which peaked in January 2018, when the ratio touched 0.49, the peak was still 9 months away.

Here's what Richa wrote in one of the editions of Profit Hunter...

• When it comes to buying smallcap stocks, especially at this point in the rebound rally, you will need a bottom up approach, and a long term horizon.
  
  In fact, if you don't have the stomach to withstand a 20%-30% kind of corrections and volatility, this space may not be for you at all. And you should stop reading right here.

As per Richa, smallcaps are a great opportunity to make some big returns. But you need to stay disciplined when it comes to allocating money. And you need to be sharp when picking the right stocks.

Moving on to news from the macroeconomic space...

WPI Inflation Spikes to 12.54% in October

The wholesale price-based inflation spiked to 12.54% in October, mainly due to rise in prices of manufactured products and crude petroleum.

WPI inflation has remained in double-digit for the seventh consecutive month beginning April. Inflation in September this year was at 10.66%, while in October 2020 it was at 1.31%.

The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared to the same month of the previous year.

Inflation in manufactured items was higher at 12.04% in October, against 11.41% in the previous month.

In the fuel and power basket, the rate of price rise was 37.18% in October, against 24.81% in September.

Data released last week showed, retail inflation based on consumer price index (combined) rose to 4.48% in October, from 4.35% a month ago, as food prices inched up along with high input costs, fuel and commodity prices.

Speaking of inflation, Co-head of Research at Equitymaster Rahul Shah talks about the strategy which would work well in a high inflation environment.

Is a higher inflation regime finally here and if yes, how do we protect our portfolio against it? Rahul answers this question in the video below.

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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