Indian Indices End Flat On Policy Day; Telecom And Auto Stocks Witness Buying

Indian share markets volatility during market closing hours and ended the day on a flattish note. Stocks from the auto sectortelecom sector and healthcare sector witnessed buying interest, while stocks from the energy sector and power sector were trading in the red.

At the closing bell, the BSE Sensex stood lower by 4 points (down 0.01%) and the NSE Nifty was up by 7 points (up 0.1%). The BSE Mid Cap index closed up by 0.7%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.2% and the Nikkei was trading down by 0.6%. The Shanghai Composite was trading up by 1.3%.

European markets were also trading on a mixed note. The FTSE 100 was up by 0.1%. The DAX was down by 0.5% while the CAC 40 was down by 0.3%.

The rupee was trading at 71.40 to the US$ at the time of writing.

Speaking of Indian stock markets, note that the current scenario in the Indian stock market looks very similar to 2013..

Back then, mid and small cap stocks witnessed a similar correction while the Sensex stayed put. This is evident in the chart below:

Is It 2013 All Over Again?


Here's what Tanushree Banerjee wrote about this in today's edition of The 5 Minute WrapUp...

  • 2018-19 has also followed a similar pattern.

    Long term-capital gains tax was introduced in last year's budget. We've seen corporate governance issues leading to auditor exits and finally the IL&FS impact..

    Also, with elections around the corner, the volatility will probably get worse.

    If you're looking at stocks from a short-term perspective, there is a good chance this volatile market will hurt you.

    But if you're picking stocks, thinking long-term, the potential for India is huge.

The investor who catches these above trends early, will create life-changing wealth for himself.

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