Sensex Opens Higher; ICICI Bank & HDFC Among Top Gainers

Tue, 13 Jul 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian share markets are trading on a positive note today tracking higher Wall Street indices.

The Hang Seng is up 2% while the Nikkei is up 0.7%. The Shanghai Composite is trading higher by 0.2%.

In US stock markets, Wall Street indices closed at their highest levels overnight, lifted by Tesla as investors eyed the start of the second-quarter earnings season and a batch of economic data.

The Dow Jones Industrial Average rose 0.4% while the Nasdaq Composite climbed 0.2%.

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

Market participants will track Mindtree share price, Tata Metalik share price and, Deccan Healthcare share price as these companies will release quarterly earnings today.

The BSE Sensex is trading up by 240 points. Meanwhile, the NSE Nifty is trading higher by 69 points.

ICICI Bank is among the top gainers today. Tech Mahindra, 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 0.2% and 0.5%, respectively.

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

Shares of ACC and Force Motors hit their 52-week highs today.

The rupee is trading at 74.51 against the US$.

Gold prices are trading up by 0.2% at Rs 47,846 per 10 grams.

Meanwhile, silver prices are trading up by 0.2% at Rs 69,508 per kg.

Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster Rahul Shah talks about what will make you rich faster - trading or investing?

Tune in to the below video to find out more:

In news from the power sector, the power ministry will ask the finance ministry to advise banks to follow prudential norms laid down by sectoral financiers Power Finance Corporation (PFC) and REC stringently while lending to electricity distribution utilities.

The above move is aimed at stopping distribution companies (discoms) from bypassing the guidelines when they approach banks instead of REC and PFC.

The proposal comes just after the government kicked off a Rs 3.03 lakh crore perform-or-lose scheme for discoms.

The government proposes to set right power discoms, saddled with estimated consolidated debt of Rs 5 lakh crore last fiscal year through the reform-based scheme and the additional borrowing space for states.

A senior power ministry official said,

• Of late, discoms have been approaching banks for finance bypassing the reforms by not taking loans from REC and PFC. The power ministry's aim is to inform the banks about risks of financing.
  
  In the interest of both discoms and banks, as well as the viability of the system, the ministry plans to request the finance ministry.

We will keep you updated on the latest developments from this space. Stay tuned.

Power stocks have opened on a mixed note with SJVN and Jaiprakash Power leading the gains.

Speaking of the power sector, it's interesting to note the power exchanged in India is about 4.5% of the overall power production, as can be seen in the chart below.

As per Tanushree Banerjee, Co-Head of Research at Equitymaster, India's power sector is currently in transition. It's driven by increasing reliance on short-term contracts and electricity spot markets.

This transition to the short-term market is happening due to quickly evolving industry dynamics.

Tanushree believes the Indian power sector will see a surge in spot power volumes due to certain factors.

Moving on to news from the telecom sector, Vodafone Idea and Bharti Airtel are among the top buzzing stocks today.

Vodafone Idea eroded its subscriber base by over 1.8 m users to more than 281.9 m.

Bharti Airtel, on the other hand, added over 0.5 m users during the month under review, taking its subscriber base to over 352.9 m.

State-run BSNL also witnessed a decline its user base by nearly 1.3 m to 117.2 m.

Reliance Jio topped the subscription chart for April as it added over 4.8 m users during the month.

With this addition, Jio's subscriber base has increased to over 427.6 m users, showed data released by the Telecom Regulatory Authority of India (TRAI).

Total wireless subscribers increased from 1,180.9 m at the end of March 2021 to 1,183.1 m at the end of April 2021, thereby registering a monthly growth rate of 0.2%.

Wireless subscription in urban areas increased from 645.2 m at the end of March 2021 to 645.6 m at the end of April 2021.

Most of the service areas showed growth in their wireless subscribers during the month of April 2021.

Shares of Bharti Airtel and Vodafone Idea have opened the day on a flat note.

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