Sensex Today Ends 87 Points Lower | Why Indian Share Market is Falling | M&M, Maruti Among Top Losers

Fri, 18 Nov Closing

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It was indeed a volatile trading session for Indian share markets today. Benchmark indices saw some swings to finally end on a flat note.

Indian share markets saw a muted opening and extended losses as investors digested a slew of hawkish comments from US Federal Reserve officials that indicated the central bank was not done with aggressive interest rate hikes yet.

Rising Covid cases in China and liquidity strains in its bond market added to uncertainty.

However, benchmarks recouped losses during closing hours as banking stocks gained.

FIIs bought a net of Rs 6.2 billion (bn) worth of equities on Thursday, while domestic investors purchased shares worth Rs 4.5 billion, provisional data showed.

At the closing bell, the BSE Sensex stood lower by 87 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 36 points (down 0.2%).

HUL, Asian Paints, and HCL Tech were among the top gainers today.

M&M, IndusInd Bank, and Maruti, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,345, down by 30 points, at the time of writing.

Broader markets settled lower. The BSE MidCap fell 0.4% while the BSE SmallCap index ended 0.5% lower.

Barring banking and realty stocks, all sectoral indices ended on a negative note with stocks in the auto sector and energy sector witnessing most of the selling.

Shares of JB Chemicals and IIFL Finance hit their 52-week highs today.

HUL and NTPC were amongst the most active shares on the BSE today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian share markets gave up early gains and ended lower on Friday as investors locked in profit while searching for fresh cues.

The Hang Seng fell 0.3% while the Shanghai Composite ended 0.6% lower. The Nikkei ended down by 0.1%.

The rupee is trading at 81.66 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 52,956 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.8% at Rs 61,460 per kg.

Speaking of stock markets, as the Indian stock market is trading close to its all-time high, one sector has done very well, which is FMCG!

The best FMCG stocks have been trending bullish for a long time.

But is the situation changing?

In the below video, Chartist Brijesh Bhatia shows what the charts say about a possible end to the bullishness in FMCG stocks and what HUL has to do with it.

PSU bank stocks on a roll

The Nifty PSU Bank index defied market sentiment and ended on a positive note.

Bank of Maharashtra was the biggest gainer while other gainers included Indian Overseas Bank, UCO Bank and Union Bank of India.

The Nifty PSU Bank index rallied 2.4% to hit a new 52-week high of 3,883.95 even as the Nifty Bank index was trading lower.

Note that in recent weeks, PSU banks have been running ahead of their private peers amid improvements in asset quality, corporate loan book and operating performance.

What added fuel to the fire today was a government notification that increased the maximum tenure of CEO and MD of public sector banks to 10 years from 5 years earlier.

Many whole-time directors of PSU banks entered the board at a young age. The amendment would benefit them, according to experts.

The biggest PSU Bank SBI has seen a sharp rise in its share price in recent months.

In the September 2022 quarter, SBI beat Reliance Industries to claim the title of most profitable company.

The last time SBI beat Reliance Industries in full year profit was in 1998 with a net profit of Rs 18.6 bn against Rs 16.5 bn reported by Reliance.

To know what lies ahead for PSU banks, read this editorial: Are Public Sector Banking Stocks Still a BUY?

Also check out Brijesh Bhatia's recent update on the PSU Bank index.

Mutual funds return to bonds

As per an article in The Economic Times, Indian mutual funds are flocking back to government bonds as inflation is expected to have peaked. This is leading to sharp decline in yields.

Mutual funds have bought bonds net of more than Rs 150 bn over the last 15 trading sessions, data from Clearing Corp of India showed.

This trend could persist as mutual funds had limited exposure to government bonds over the last few months after the Reserve Bank of India (RBI) aggressively raised interest rates to tackle steep inflation. The central bank has raised rates by an aggregate 190 basis points since May.

When yields were high in September 2022, mutual funds sold bonds worth net of Rs 184 bn.

As you're interested in what mutual funds are buying and selling, check out Equitymaster's Indian Stock Screener.

This tool tracks the stocks recently bought by mutual funds along with the stocks recently sold by them.

TCPL Packaging scales new high

Moving on, shares of TCPL Packaging surged over 15% today on the back of healthy business outlook.

Ever since the company has declared its Q2 results two weeks ago, the stock has seen a sharp rise.

Even in a challenging environment, the company's consolidated revenues grew by 43% year-on-year (YoY) on the back of higher volumes and better realizations.

In addition, the company witnessed stability in its key raw materials, which enabled the company to register robust profitability during the quarter.

TCPL is one of India's leading producers of sustainable packaging solutions for customers across industries.

To know more, check out TCPL's 2021-22 annual report analysis.

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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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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Indian Share Market Update: Top Gainers and Losers