Indian Indices Finish Strong; FMCG & Banking Stocks Witness Buying

Indian share markets traded on a positive note throughout the day and ended on a strong note. Gains were seen in the bank sector, FMCG sector and auto sector, while oil & gas stocks and PSU stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 361 points (up 1%) and the NSE Nifty closed higher by 93 points (up 0.9%). The BSE Mid Cap index ended the day up 0.2% and the BSE Small Cap index ended the day down by 0.3%.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was down by 0.3% and the Shanghai Composite was up by 0.1%. The Nikkei 225 was up 0.8%.

The rupee was trading at 70.66 against the US$.

As per Association of Mutual Funds of India (AMFI), retail investors continued to pour money in mutual funds through systematic investment plans (SIPs) in the month of November.

This comes as the industry received Rs 79.8 billion via the SIP route in November, a rise of 35.4% on a YoY (year-on-year) basis.

The figure, however, remained flat month-on-month despite the volatility in the stock market.

SIP AUM increased to Rs 2.31 lakh crore in November from Rs 2.17 lakh crore in the previous month. SIP folios also increased to Rs 2.52 crore in November from 2.49 crore last month.

The total number of folios as on November 30, 2018, stood at 79.7 million, witnessed an increase of 23% on YoY basis. Within that, the retail segment stood at 67.1 million, up 27% YoY. Average Assets Under Management (AAUM) of the industry for the month of November 2018 stood at Rs 24,031 billion, registering a growth of 5% on YoY basis and 8% on a month on month basis.

Note that the SIP flows into Indian stock markets are on the rise. Have a look at the chart below. It plots the month SIP contributions over the 31-month period between April 2016 and October 2018.

SIPs Continue to Rise Despite Market Correction

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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