Sensex Opens Marginally Higher; Pharma & Metal Stocks Lead

Thu, 10 Jun 09:30 am

   Previous Close   

   02:30 pm   

   Closing   

HYPERLINK "https://www.equitymaster.com/stockquotes/indices" Asian share markets edged higher today as investors focused on US inflation data. The Hang Seng is up 0.3% while the Nikkei is trading higher by 0.4%.

The Shanghai Composite is trading up by 0.8%.

In US stock markets, Wall Street indices ended a volatile session lower as investors awaited inflation data for clues as to when the US Federal Reserve might tighten its dovish monetary policy.

The Dow Jones Industrial Average fell 0.4%, while the Nasdaq dropped 0.1%.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

Market participants will track shares of Mazagon Dock Shipbuilders, NHPC, and SAIL as these companies are scheduled to announce their quarterly earnings today.

The BSE Sensex is trading up by 64 points. Meanwhile, the NSE Nifty is trading higher by 28 points.

Power Grid is among the top gainers today. Bajaj Auto, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.8% and 1.2%, respectively.

Barring FMCG stocks, all sectoral indices are trading in green with stocks in the metal sector and realty sector witnessing most of the buying interest.

Shares of Titan and Lux Industries hit their 52-week highs today.

The rupee is trading at 72.98 against the US$.

Gold prices are trading down by 0.2% at Rs 49,024 per 10 grams.

Meanwhile, silver prices are trading down by 0.5% at Rs 71,520 per kg.

Crude oil prices are steady after US inventory data showed a surge in gasoline inventories due to weak fuel demand following the US Memorial Day weekend.

Speaking of stock markets, in his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani talks about how retail traders are moving the stock market.

As per Vijay, Indian retail traders are dominating the market and you need to react accordingly.

Tune in to the video below to find out more:

In news from the power sector, Reliance Power is among the top buzzing stocks today.

Anil Ambani-promoted power generating company Reliance Power would seek the board's nod in the upcoming meeting for raising funds through issuance of equity or equity linked instruments.

The meeting is scheduled for 13 June 2021.

The fund raising comes after Reliance Infrastructure's board of directors approved fundraising of Rs 5.5 bn through issuance of equity and related instruments on Sunday.

The company said the funds would be utilised in reducing debt and for future growth.

Reliance Power has operational projects to the tune of 6,000 MW which includes the 3,960 MW Sasan ultra mega power project (UMPP) in Madhya Pradesh.

The company in a public statement while declaring its annual results for said, it has brought down its debt by Rs 31.1 bn during the fiscal.

As on 31 March 2021, the current liabilities of the company including borrowing and financial liabilities stood at Rs 159.3 bn, whereas its total assets amounted to Rs 48.7 bn.

The company reported a net profit of Rs 2.3 bn during 2020-21 against a loss of Rs 40.8 bn in the year before.

Reliance Power share price has opened the day up by 5%.

Moving on to news from the energy sector, GAIL (India) on Wednesday reported a quarterly profit of Rs 19.1 bn, which was down from Rs 30.2 bn reported in the same period last year.

Revenue stood at Rs 155.5 bn, while EBITDA (earnings with interest, taxes, depreciation, and amortisation) was Rs 24.7 bn.

However, on a sequential basis, net profit of the company rose 28%.

For the full financial year 2020-21, GAIL clocked a net profit of Rs 48.9 bn.

Revenues for full fiscal year stood at Rs 567.4 bn compared to Rs 732.9 bn.

GAIL's petrochemical business showed better performance with more than 100% capacity utilisation.

The petrochemicals marketing revenue rose 14.5%, while natural gas revenues rose 0.7%, over the previous quarter.

During the quarter, the company bought back 69.8 m fully paid-up equity shares of Rs 10 each for Rs 10.5 bn (excluding taxes) at Rs 150 per equity share.

GAIL (India) share price has opened the day up by 0.5%.

Speaking of public sector undertakings (PSU), have a look at the chart below which shows the performance of BSE PSU index compared to BSE Sensex over the past few years.

As can be seen from the chart above, over the last decade, Rs 100 invested in BSE-PSU index would have eroded to Rs 80, compared to almost 3x gains for the Sensex.

Here's what Richa Agarwal, lead Smallcap Analyst at Equitymaster, wrote about PSU stocks in a recent edition of Profit Hunter:

• However, it will be folly to paint all PSUs with the same brush. There are some exceptions in this space, which put their private peers to shame.
  
  In a recent editorial, I shared an opportunity in a PSU stock that is riding and enabling an irreversible megatrend - digitisation.

Richa's latest stock recommendation (subscription required) is a stock from this space. This smallcap PSU is leading the digitisation drive from the frontlines.

Richa believes it could be a perfect bet for these uncertain times. Hidden Treasure subscribers can read the recommendation here.

And if you're not a subscriber, here's where you can sign up.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers