Indian Indices End Flat; Dr Reddy's Laboratories And Bajaj Auto Among Top Nifty Gainers

Indian share markets witnessed some buying in the last hour of trading and ended their session marginally higher today.

At the closing bell, the BSE Sensex stood higher by 70 points (up 0.2%).

The NSE Nifty ended up by 19 points (up 0.1%).

Dr Reddy's Laboratories and Bajaj Auto were among the top gainers today.

IndusInd Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,782, up by 38 points, at the time of writing.

The BSE Mid Cap index ended down by 0.4%. The BSE Small-Cap index ended down by 0.2%.

Sectoral indices ended on a mixed note with IT stocks and pharma stocks witnessing maximum buying interest and rising more than 1% each.

Telecom sector stocks, on the other hand, witnessed most selling.

Asian share markets ended on a negative note with the Nikkei ending down by 0.2% and the Hang Seng ending down by 0.7%.

The rupee is trading at 73.54 against the US$.

Gold prices for the latest contract on MCX were trading down by 0.4% at Rs 50,204 per 10 grams.

In one of his latest videos, India's #1 trader, Vijay Bhambwani, talks about whether you should buy gold bullion or gold exchange-traded-funds (ETFs).

Speaking of stock markets, note that since the lows in March 2020, the smallcap index has gained 98%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Here's what she wrote in a recent edition of Profit Hunter...

  • For one, the gap between the Sensex and the smallcap index is still huge.

    In January 2018, the smallcap to Sensex ratio was 0.57 times, versus a long-term average of 0.44 times.

    At present, this ratio stands at 0.37 times, well below the long-term average.

    The possibility of a convergence between growth and value is a lot higher in the smallcap space than in the large caps.

    And then here are some other interesting facts.

    Historically, the smallcap index, after a sharp correction, has risen up to 300%.

    So far, the smallcap index is up 98% since March. If you have not joined this rally yet, it might still not be too late.
1 2 3
View single page >> |

And to know what's moving the Indian stock markets today, check out the most recent  more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.