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Sensex Trades Marginally Higher, Dow Futures Up by 22 Points

Fri, 7 May 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 180 points, up 0.4% at 49,129 levels.

Meanwhile, the NSE Nifty is trading up by 70 points.

Adani Ports and Tata Steel are among the top gainers today. Tata Consumer Products and Hero MotoCorp are among the top losers today.

The BSE Mid Cap index is trading flat.

The BSE Small Cap index is trading up by 0.3%.

On the sectoral front, stocks from the metal sector, are witnessing most of the buying interest.

On the other hand, stocks from the software sector, are witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 12 points (up 0.1%) while Dow Futures are trading up by 22 points (up 0.1%)

The rupee is trading at 73.69 against the US$.

Gold prices are trading up by 0.2% at Rs 47,689 per 10 grams.

Moving on to stock specific news...

Among the buzzing stocks today is Zensar Technologies.

Zensar Technologies gained 2.1% in early trade today after the UK-based fintech company, Infinity Circle, selected Zensar for end-to-end development of its next-gen wealth management platform.

Zensar announced that it has been selected by Infinity Circle, a UK-based fintech company in the wealth management space. Zensar will be the design and technology services partner with the scope of engagement spanning across branding, UX, CX design, core platform development, global launch, and ongoing support services.

Chaitanya Rajebahadur, the Executive Vice-President and Head, Europe, Zensar Technologies, commented, "We are excited to work with disruptive companies like Infinity Circle, that bring fintech to the forefront of new ways of doing business. Their vision to take next-generation wealth management to a new and emerging set of clients and investors is in keeping with our focus on creating value for future consumers of digital technology. Our team looks forward to creating this innovative platform for them."

Zensar Technologies is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their digital transformation journey.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, shares of Zensar Technologies were trading up by 0.5% on the BSE.

Speaking of stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, explains how you can make trading profits in the market when the Nifty is stuck in a range, in his latest video for Fast Profits Daily.

Nifty has been rangebound ever since the month of February.

According to Brijesh, the recent downtrend may have been stooped by the bulls, but they don't seem to be strong enough to take the markets to new highs...at least in the short term.

So, what should you do? How do you trade the market when the index is stuck in a range? Brijesh answers these questions in the video below.

Tune in here to find out more:

In news from the FMCG sector...

Tata Consumer Q4 Results: Net Profit Slumps 44% Sequentially, Margin Contracts

Tata Consumer Products saw a fall in quarterly consolidated profit and a contraction in margin over the preceding three months as expenses rose.

Net profit of Tata Tea and Tata Salt maker declined 44% sequentially to Rs 1.3 bn in the January-March period, according to an exchange filing.

While India beverages and foods businesses maintained revenue, the international beverage business revenue declined versus the December quarter.

"Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) growth for the quarter was impacted by tea inflation in India and increased investments, that more than offset the strong EBITDA growth in India food and International business," the company said in its earnings presentation.

During the year, Tata Salt gained market share with its value-added salts portfolio growing faster, which is in line with the company's premiumisation strategy. The company added five new products to its ready-to-cook category under the "Tata Sampann" brand. They include "haldi doodh" mix, "masala daliya khichdi" mix, dhokla mix, supergrain ragi idli and supergrain ragi dosa mixes.

"In line with our strategic priority of exploring new opportunities, the health and wellness focused foods portfolio was further enhanced through acquisition of Kottaram Agro Foods (Soulfull brand)-now renamed as Tata Consumer Soulfull," the company said in an exchange filing. "This opens significant opportunities in the fast growing 'on the table' and 'on the go' segments."

The company said integration of its India foods and beverages businesses is now complete. "A redesigned sales and distribution system is in place with digitisation across channel partners, a new integrated business planning system covering demand and supply planning is now live."We will keep you posted on updates from this space. Stay tuned.

Speaking of the FMCG sector, have a look at the chart below which shows the performance of BSE Sensex and BSE FMCG index since 2009:

While the Sensex has offered 393% returns since 2009, the BSE FMCG index has gone up a staggering 532% returns over the same period.

Richa Agarwal, Senior Research Analyst at Equitymaster, and Editor of the smallcap service, Hidden Treasure, believes this outperformance could continue for many years.

She said that with a rising population and standards of living, Indian's consumption demand for FMCG products will skyrocket over the coming years.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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