Sensex Opens Over 150 Points Up; Energy & IT Stocks Gain The Most

Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.6% while the Hang Seng is up 1.9%. The Nikkei 225 is trading up by 0.9%. Meanwhile, US stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution as the corporate earnings season kicked off.

Back home, India share markets opened on a firm note. The BSE Sensex is trading up by 159 points while the NSE Nifty is trading up by 48 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.3%.

All sectoral indices have opened the day in green with oil & gas stocks and IT stocks witnessing maximum buying interest.

The rupee is currently trading at Rs 70.77 against the US$.

Speaking of benchmark indices in the year 2018, Sensex closed the year at 36,068.

A year ago, on the last trading day of 2017, the Sensex had closed at 34,057.

That's a 6% gain for the Sensex in 2018.

For equities, that's not a good enough return. Your money could have done better parked in fixed deposits.

The Story of Sensex 2018

Most investors have seen their investments diminish in value during the year.

In fact, the total market value of all listed companies on the BSE declined 5% to Rs 144.1 trillion from Rs 151.7 trillion at the end of 2017.

In other words, wealth worth Rs 7.6 trillion, which is more than the market cap of Tata Consultancy Services or Reliance Industries, was wiped out during the year.

In the news from the economy. India's retail inflation and wholesale inflation fell to multi-month lows in December amid signs of weakening economic recovery.

The fall in numbers paves the way for the Reserve Bank of India's (RBI) monetary policy committee to cut interest rates at its meeting on 7 February.

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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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