Stock markets in India are presently trading lower, tracking weakness in their global peers. Among the sectoral indices, IT stocks and metal stocks are witnessing maximum selling pressure. While healthcare stocks and PSU stocks are trading in green.
The BSE Sensex is trading lower by 261 points (down 0.2%), and the NSE Nifty is trading lower by 63 points (down 0.3%). Meanwhile, the BSE Mid Cap index is trading up by 0.3% while the BSE Small Cap index is trading down by 0.1%. The rupee is trading at 71.30 to the US$.
Speaking of stocks, if you wondering whether the boring stocks will do well against smallcaps as well as asset classes like gold and fixed income over the long term, take a look at this chart.
Boring Bluechips are Necessary for Risk Hedged Returns
The BSE 500 which represents a mix of bluechip and midcap stocks, underperformed the BSE smallcap index only over the 5-year period. And even in a year of sharp market correction (like 2018), the correction in the index is much lesser than that of the smallcap index.
In the news from the economy. As per the latest report by Employment Provident Fund Organisation (EPFO), India reported over a 2-fold jump at 9.7 lakh new job creations in the month of September 2018 as compared to 4.1 lakh jobs in the corresponding month last year.
As per the report, the maximum jobs were created in the age bracket of 18-21 and in this bracket the top 10 sectors which have created more fresh jobs include Expert Services, Trading in Commercial Establishments, Electric Engineering Products, Construction Industry, Engineering, Marketing Servicing, Textiles, Garments making, Cleaning and Sweeping Services and Hospitals. The data also showed that around 79.5 lakh new subscribers were added to social security schemes of the EPFO from September 2017 to September 2018. This indicates that these many jobs were created in the last 13 months.
