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Sensex Today Ends 119 Points Higher | Nykaa Gains 7%, Zomato 3% | Hindalco & Hero MotoCorp Among Top Gainers

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After opening the day flat, Indian share markets picked up pace as session progressed and ended the day higher.

Benchmark indices inched higher on Friday amidst volatility as investor appetite for risky assets improved on bets that the US Federal Reserve could pause its interest rate hikes.

At the closing bell, the BSE Sensex stood higher by 119 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 46 points (up 0.3%).

Hindalco and JSW Steel were among the top gainers today.

Infosys and TCS on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The SGX Nifty was trading at 18,625, up by 62 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index and BSE SmallCap ended 0.6% higher.

Sectoral indices ended on a mixed note with stocks in the telecom sector, auto sector and metal sector witnessing most of the buying.

On the other hand, stocks from the Oil & gas sector and energy sector witnessed selling pressure.

Shares of Bajaj Auto and Trent hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a positive note. The Nikkei ended higher by 1.2%. while the Hang Seng rallied 4%. The Shanghai Composite ended 0.8% higher.

The rupee is trading at 82.31 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 60,263 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading higher by 0.2% at Rs 72,748 per kg.

Speaking of stocks markets, 2022 was a big speed breaker for BAAP (buy at any price) and growth at any price investors.

With the cheap money out of the picture, a lot of high-flying stocks saw the wind beneath their sails disappear. However, the sentiments are shifting again.

From a big sell off in March this year, the smallcaps stocks have rebounded. The smallcap index is now flirting with all-time highs.

For individual smallcaps, the upswing has been even higher. You see, that's the nature of smallcaps. When sentiments are adverse, they take the hardest knock. When markets are upbeat, a slightest nudge could send them soaring. It's good to see smallcaps rallying.

But this comes with a sense of caution as markets are cyclical. And there may be a point when the valuations run ahead of fundamentals. How close or far are we to that point?

Smallcap analyst, Richa Agarwal answers the question in the below video.

Why Paras Defence share price surge 9% today?

In news from the defence sector, shares of Paras Defence gained 9% on Friday as the company entered into a joint venture agreement with an Israeli company.

Paras Defence and Space Technologies have entered into a joint venture agreement with CONTROP Precision Technologies to manufacture, instal and provide logistics and after-sale support, etc, in the electro-optic infra-red field in keeping with Make in India initiative.

Under the agreement, Paras will be able to appoint one director while Controp could appoint three directors on the Board of the proposed company.

Paras will hold a 30% stake in the venture and the remaining 70% will rest with by CONTROP.

Speaking of the defense sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasized the need of self-reliance in security space.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD), has set a target of doubling the defense production to US$ 25 bn by 2025.

We believe the defence sector could produce the next set of multibagger stocks over the long run.

Zomato shares jump 8%; here's why

Moving to news from the e-commerce sector, the share price of Zomato rose 8% on Friday amid reports of the revision of discounts at the Open Network for Digital Commerce (ONDC).

The stock got traction after media reports suggested that ONDC had revised its incentive scheme for network participants to reduce the dependency on discounts for adoption.

ONDC was touted as a threat to food-delivery platforms like Zomato and Swiggy as it connects restaurants directly to customers. In simple terms, ONDC lets restaurants sell food directly to consumers without the need for a third party (like Zomato and Swiggy).

ONDC is a government-backed platform which works as a network of interconnected e-marketplaces. With ONDC, sellers can sell their products directly to customers. The Department for Promotion of Industry and Internal Trade (DPIIT) launched ONDC in 2021 to give a push to the Digital India program.

Also, for what to do with the stock of Nykaa if you are a shareholder or looking to invest in it, check out our editorial: Zomato, Paytm, and Nykaa: Buy, Avoid, Hold, or Sell?

Why Hero MotoCorp share price Jumps 3% today

Moving on news from the automobile sector, shares of Hero MotoCorp rallied 3% today as the company reported robust growth in motorcycle and scooter sales.

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, sold 519,47 units in May 2023. This translates into a growth of 7% over the corresponding month of May 2022, when the company sold 486,704 units.

The company expects the momentum to continue in the coming months, driven by an uptick in customer sentiments, a forecast of a normal monsoon and a host of new launches in the premium segment.

During May 2023, Hero MotoCorp introduced the OBD-II & E20 compliant XPulse 200 4V.

HeroMoto Corp also discussed plans for global business expansion in the filing.

Note that the electric vehicle (EV) megatrend is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

To know more, check out Why Hero MotoCorp is Underperforming the Market?

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers