Sensex Opens Higher; Realty and Healthcare Stocks Lead

Mon, 30 Dec 09:30 am

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Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.2% while the Hang Seng is up 0.4%. The Nikkei 225 is trading down by 0.5%. Meanwhile, the Nasdaq snapped an 11-day streak of gains on Friday after some late-session weakness, but the S&P 500 and the Dow scratched out record closing highs with slight gains as a year-end rally chugged along.

Back home, India share markets opened on a positive note. The BSE Sensex is trading up by 112 points while the NSE Nifty is trading up by 30 points. Both, the BSE Mid Cap index and BSE Small Cap index opened the day up 0.3%.

All sectoral indices have opened the day in green with realty stocks and healthcare stocks witnessing buying interest.

The rupee is currently trading at 71.36 against the US$.

In one of the positive developments, foreign investors remained net buyers in December by investing Rs 26.1 billion in the domestic markets, mainly due to expectation of a revival in corporate earnings, quantitative easing by the US Fed and infusion of funds by central banks globally.

According to the depositories data, a net amount of Rs 63 billion was invested by foreign portfolio investors (FPI) into equities, while Rs 36.9 billion was pulled out of the debt segment.

This resulted into a total net investment of Rs 26.1 billion between December 2-27.

Barring January, July and August, FPIs have been net buyers for rest of the months in 2019. This year, they have invested a net sum of Rs 732.8 billion in the markets (both equity and debt).

Speaking of stock markets as the year ends, Girish Shetty shares a simple guide on how to improve your stock picking process for the new year 2020.

This quick guide will surely help you make better decisions.

Tune in now!

Moving on the news from the banking sector. According to the Reserve Bank of India's Financial Stability report, the aggregate growth in banking sector's gross loans and advances slowed from 13.2% in March 2019 to 8.7% in September 2019.

The report stated that given the weakening economic growth, the underlying credit buoyancy and its nuances are of relevance. It is evident that there has been an across-the-board dip between March and June 2019.

Credit growth during the period was driven by private sector banks. Private sector banks registered double digit credit growth of 16.5%, while that of the public sector banks (PSBs) was 4.8%.

The capital adequacy ratio of banks improved significantly to 15.1% in September 2019 after the recapitalisation of PSBs by the government.

The asset quality of agriculture and services sectors, as measured by their GNPA ratios, deteriorated in September 2019 as compared to March 2019.

According to RBI, the denominator effect of declining credit growth has added to risk of gross non-performing assets (GNPAs) rising by next year. Macro-stress tests for credit risk show that under the baseline scenario GNPA ratio may increase from 9.3% in September to 9.9% in September 2020.

Speaking of the banking sector, note that 2019 has been brutal for some banking stocks.

The market has severely punished them. This is due to issues such as worsening asset-quality, corporate governance, and inadequate capital.

As can be seen in the chart below, here's how the correction looked like for some banking stocks as of October 15th...

Falling Knives in the Banking Sector

Falling stock prices could be enticing. After all, we love deep discounts and good bargains.

But if you're thinking of buying these stocks it's important to remember this point - If a stock is in a falling spree, there's probably a good reason behind it.

And realising this in a volatile market is the first step towards correcting one's investing process.

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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