Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex, Nifty Trade Marginally Lower; Tata Steel, Asian Paints & Grasim Top Losers
Thu, 9 Jun 10:30 am

Sensex, Nifty Trade Marginally Lower; Tata Steel, Asian Paints & Grasim Top Losers

Asian share markets are lower today following an overnight fall of Wall Street. The Nikkei and Hang Seng are flat while the Shanghai Composite declined 0.5%.

In US stock markets, Wall Street indices fell broadly on Wednesday, erasing most of their gains for the week, as investors were discouraged to see inflation's impact on businesses.

The Dow Jones plunged 0.8% while the Nasdaq fell 0.7%.

Back home, Indian share markets are trading on a negative note.

Benchmark indices opened on a negative note tracking the trend on SGX Nifty live chart and amid unsupportive global cues.

The BSE Sensex is trading down by 95 points. Meanwhile, the NSE Nifty is trading lower by 26 points.

Dr Reddy's Lab and Reliance are among the top gainers today. Asian Paints and Tata Steel, on the other hand, are among the top losers today.

The BSE Mid Cap index is down 0.1%. The BSE Small Cap index is trading on a flat note.

Sectoral indices are trading mixed with stocks in the metal sector and realty sector witnessing most of the selling.

Energy stocks and healthcare stocks, on the other hand, are trading in green.

IT stocks are trading on a cautious note today. IT stocks have rallied recently tracking a rally in US markets, among other reasons.

--- Advertisement ---
Last Day to Access 'One Stock Crorepati' Opportunity

As you know, recently we went LIVE with our One Stock Crorepati MEGA Summit...

Around 10,000 readers like you had registered to attend this summit.

At the summit, they learned Richa Agarwal's secret blueprint of identifying potential 'crorepati' stocks.

Plus, they also discovered the details of one stock with crorepati potential...

If you missed this summit for some reason, then you can still get all the details by watching this special replay of the summit.

Watch Now (Available till 11:59pm Tonight)
------------------------------

Shares of Maharashtra Seamless hit their 52-week highs today.

Continuing the downtrend, LIC share price fell further and hit a new low of Rs 723 today.

With the stock market recovering, you should have a clear strategy by your side to navigate the markets.

If you're new and on the lookout for fundamentally strong stocks, check out the debt free stocks and the ones which pay high dividend.

Also, read about the multibagger penny stocks for 2025 to get started in the world of penny stock investing.

The rupee is trading at 77.75 against the US$.

Gold prices are trading up by 0.1% at Rs 51,080 per 10 grams. Meanwhile, silver prices zoomed 0.3% to Rs 62,200 per kg.

Crude oil prices held near 13-week highs, underpinned by robust demand in the US while demand is expected to rebound in China as Covid-19 curbs across major cities are relaxed.

Speaking of stock markets, Co-head of research at Equitymaster Rahul Shah discusses why a falling market is an investor's best friend.

If the entire market has taken a beating, what are the kind of stocks that an investor should buy?

Are bluechips the only available opportunity? Or can stocks from the mid-cap and small-cap space prove to be a good bet?

Rahul answers all these questions and much more. Tune in to the below video to know more:

In news from the insurance sector, ICICI Lombard share price defied the market trend today and gained 2%.

Yesterday, shares of the general insurance company hit a two-year low and slipped 5% on concerns of further waves of Covid-led claims.

--- Advertisement ---
"$2.5 Trillion Crypto Market Boom..."

A booming $2.5 trillion market...

Set to multiply by 100 times over the next decade...

With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over...

Really Want to Miss It?
------------------------------

The downtrend could be attributed to muted business growth coupled with higher claims led by Covid-19.

The stock is now trading at its lowest level since May 2020 as it has consistently reported weak results for the last two years.

ICICI Lombard is among the fundamentally strong companies trading at 52 week low.

The weak results may just be a temporary phenomenon. The company is a natural beneficiary of pick-up in non-life insurance space given huge under penetration.

It is India's second largest non-life insurance player and one of the largest within the private sector.

It also has 81% of its investments currently in debt, which means there is a scope for higher realised returns, with a turn in interest rate cycle.

It remains to be seen when and how the company bounces back.

Join Our YouTube Channel: Get Close to Our Editors and Stay Ahead of the Curve

Moving on to news from the IT sector, Tech Mahindra is among the top buzzing stocks today.

IT major Tech Mahindra yesterday said it has acquired a 26% stake in Huoban Energy 6, a renewable energy firm.

The company said it will pay a total sum of Rs 16 m for the acquisition in an all-cash deal, adding that the transaction is estimated to be completed within 90 days.

The acquisition has been made under the "group captive" programme, which will allow Tech Mahindra to consume the renewable energy that will be generated by Huoban Energy.

Captive or group captive projects are projects set up by a developer with a minimum equity contribution of 26% from interested consumers.

Set up in November 2021 in Hyderabad, Huoban Energy is presently a 100% subsidiary of solar energy firm Fourth Partner Energy.

The acquisition of a stake in Houban Energy, which will lead to the procurement of solar energy for Tech Mahindra's Pune facility, is in line with the strategy to become a net-zero emitter by 2040, the IT company said in the exchange filing.

Note that Tech Mahindra is under intense pressure this year, having fallen more than 40% in 2022 so far.

This performance is in line with other IT stocks as major tech companies have succumbed to the Nasdaq effect, attrition problem and FII selling.

To know more about the company, check out Tech Mahindra's financial factsheet and its latest quarterly results.

In other news from the IT space, Tata Elxsi is expanding its presence in Kerala and has announced a new technology development centre in Kozhikode.

The new centre will host teams and state-of-the-art technology and product development facilities in electric vehicles (EVs), connected car, OTT, 5G, and digital technologies.

The company's CEO and MD said Kozhikode and North Kerala have a sizeable native pool of engineering and technology graduates who are working in other parts of India and the world due to limited career opportunities locally.

Tata Elxsi share price is currently trading up by 1%.

Speaking of Tata Elxsi, note that the tech company has been one of the top multibaggers in recent years. At a time when IT stocks are taken to the cleaners, the stock has been resilient and has fallen less compared to peers.

The Tata group company has big growth plans and is powering ahead.

To know more, check out Tata Elxsi's 2021-22 annual report analysis.

And 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!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Yellow Ad

Advertisement

Last Day to Access 'One Stock Crorepati' Opportunity

As you know, recently we went LIVE with our One Stock Crorepati MEGA Summit...

Around 10,000 readers like you had registered to attend this summit.

At the summit, they learned Richa Agarwal's secret blueprint of identifying potential 'crorepati' stocks.

Plus, they also discovered the details of one stock with crorepati potential...

If you missed this summit for some reason, then you can still get all the details by watching this special replay of the summit.

Learn more

Equitymaster requests your view! Post a comment on "Sensex, Nifty Trade Marginally Lower; Tata Steel, Asian Paints & Grasim Top Losers". Click here!

  

Stock Market Updates

Sensex Trades in Green; ITC & IndusInd Bank Top Gainers (Today's Market)

Jul 4, 2022 01:30 pm

The BSE Sensex is trading up by 149 points, while the NSE Nifty is trading up by 25 points.

Sensex Trades Marginally Lower; Tata Steel and TCS Top Losers (Today's Market)

Jul 4, 2022 10:30 am

Indian share markets are trading on a negative note today with the Sensex down by 229 points, while the Nifty is trading lower by 76 points.

SGX Nifty Trades Flat, Vedanta's Ambitious Semiconductor Dream, Maruti's Green Drive, and Top Buzzing Stocks Today (Today's Market)

Jul 4, 2022 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

The One Smallcap Stock I'll Recommend Now(Profit Hunter)

Jun 21, 2022

This aspect of investing has a very high weightage on your overall returns, but often gets ignored when winning stories are written.

5 Consistent Compounding Stocks Available at Discount. Time to Buy?(Views On News)

Jun 22, 2022

The good side of a market correction? Investors get consistent compounding stocks at a discount.

Auto Stocks are in the Fast Lane. Is it Time to Buy?(Profit Hunter)

Jun 23, 2022

The auto index is outperforming the Nifty by a mile. Have auto stocks finally bottomed out?

5 Indian Companies where Mutual Fund Holdings are Consistently Increasing(Views On News)

Jul 1, 2022

Mutual funds are buying shares at a time when FIIs are consistently selling. Here are 5 stocks where MF holdings has increased for the past 4 quarters.

Why Crude Oil Price is Falling(Views On News)

Jun 25, 2022

Global markets have become volatile, sending chills through the crude oil market.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 4, 2022 (Close)

MARKET STATS