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Sensex Trades Flat; Energy and Oil and Gas Sector Rally

Fri, 12 Aug 10:30 am

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Asian share markets were trading on a mixed note this morning.

The Nikkei surged 2.4% while the Hang Seng was down by 0.1%. The Shanghai Composite was trading higher by 0.1%.

Markets had rebounded yesterday following gains on Wall Street after US economic data showed that inflation may be slowing.

Meanwhile, stock indices on Wall Street turned mixed yesterday, shedding some of their early gains following more encouraging data on inflation.

The Dow Jones was up by 0.1% while the tech heavy Nasdaq surged by 0.6%

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

Benchmark indices opened flat today following the trend on SGX Nifty. And as the session progressed, slowly the gains were extended.

At present, the BSE Sensex is trading higher by 50 points. Meanwhile, the NSE Nifty is trading up by 20 points.

Tata Steel and NTPC are among the top gainers today.

Maruti Suzuki and Sun Pharma are among the top losers today.

EKI Energy share price is falling today. Shares of the company plunged over 15% after the Lok Sabha passed the Energy Conservation (Amendment) Bill to establish the carbon credit market in India.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.3% while the BSE Small Cap index is trading higher by 0.6%.

Check out these fast growing smallcap stocks with zero debt that have consistently reported increasing revenues and profits.

Sectoral indices are trading on a positive note with the exception of bank, healthcare and FMCG sectors.

Meanwhile, stocks in the energy and oil and gas sector witness most of the buying.

Keep an eye out on these 4 sectors that can produce future multibagger stocks.

Page Industries and Tata Elxsi hit their 52-week highs today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also check out our editorial on the 10 fundamentally strong small cap stocks.

In the commodity markets, gold prices rise. Gold prices are trading higher by Rs 64. Currently, gold prices are trading at Rs 52,400 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading lower at Rs 58,490 per kg. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.7 against the US dollar.

After getting a bird's eye view of the market, do you want to get a full analysis on how the markets will perform today? You know how the market started but do you want to know how the markets will close today?

In the below video, Brijesh Bhatia does a complete analysis of today's market.

Tune in to the below video to know more.

Rising interest rates have taken the share market to the cleaners. A similar rise in interest rates was also seen in 1989.

1989 and 2022 both have disappointed investors resultantly pushing them away. But ace investor Warren Buffett says,

• "Be fearful when others are greedy and be greedy when others are fearful,"

Warren Buffett has taught what he preached. In 1989 when everyone was running from stock market, he invested a huge amount in Wells Fargo - an American financial company.

Over the years, Fargo has gone far up and generated handsome returns for Buffett.

This begs the question: is it the right time to invest in banking stocks?

Read out editorial to know more: Bank Stocks in 2022 Mirror Warren Buffett's 1989 Wells Fargo Investment.

In news from the chemical sector, Balaji Amines' subsidiary, Balaji Speciality Chemicals, filed a draft red herring prospectus.

The proposed offer consists of a fresh issue of equity shares aggregating up to Rs 2,500 m (including share premium) and an offer for sale of up to 26 m equity shares.

For more information on the company, check out Balaji Amines financial factsheet.

Further in news from the retail sector, Trent posted its results for the June 2022 quarter.

Trent, which operates retail stores under the Westside and Star Bazaar brand, reported a consolidated profit of Rs 1.1 bn for the quarter ended 30 June 2022.

The company had reported a net loss of Rs 1.4 bn in the year-ago period.

This was on the back of strong revenue growth. The company's consolidated revenue grew 267% YoY to Rs 18 bn.

Trent operates Westside and Zudio, apart from Trent Hypermarket, which operates in the food grocery and daily needs segment under the Star banner, and Landmark Stores.

Trent was in deep losses up until last year, but as you can see that this year it is rolling in profits. How did this happen? How did this loss making company turn profitable?

Interestingly, Trent is not the only company to do this, there are 4 companies that turned profitable in 2022. Here's how they did it.

Further in news from the tech Sector, a piece of advice for Paytm shareholders.

Institutional Investor Advisory Services India (IIAS) has advised shareholders of Paytm parent firm to vote against the reappointment of Vijay Shekhar Sharma as its chief executive as well as against his remuneration.

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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