Indian Indices End On A Positive Note; Oil & Gas And IT Stocks Witness Buying

Indian share markets witnessed buying interest during closing hours and ended marginally higher. Gains were seen in the oil & gas sector and IT sector, while realty stocks and healthcare stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 130 points (up 0.3%) and the NSE Nifty closed higher by 45 points (up 0.4%). The BSE Mid Cap index ended the day up by 0.4%, while the BSE Small Cap index ended on a flat note.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 1.2% and the Shanghai Composite was down by 0.1%. The Nikkei 225 was up 0.1%.

The rupee was trading at 68.98 against the US$.

Speaking of the stock markets, the current pattern of the Indian stock market very closely resembles 2013.

Back then too, Sensex was relatively flat while mid and small caps underperformed by a huge margin.

Only this time, the divergence is larger.

How Long Will this Sensex Outperformance Last?

How Long Will this Sensex Outperformance Last?


While the 2013 correction was due to global macro issues, the correction in mid and small caps are due to factors back home.

Corporate governance issues leading to auditor exits plagued many mid and small caps in 2018. Then, we had the IL&FS impact leading to the NBFC crisis.

Will this Sensex outperformance continue?

Co-head of research, Tanushree Banerjee answers this question in one of the recent editions of The 5 Minute WrapUp. Here's an excerpt of what she wrote:

  • But when I think of safe stocks, I think long-term about the businesses rather than how the Sensex will perform.

    I think of businesses that will be a part of India's long-term growth story. I strongly believe these businesses stand to do well irrespective of the movement of the Index.

Also, Tanushree recently talked about the Rebirth of India phenomenon and how 3 specific trends are racing ahead even in these gloomy times...

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