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Top 3 Stocks for 2023

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Sensex Reclaims 60,000-Mark, Nifty Tops 17,900; NTPC, Bajaj Finserv & Bajaj Finance Top Gainers
Wed, 17 Aug 10:30 am

Sensex Reclaims 60,000-Mark, Nifty Tops 17,900; NTPC, Bajaj Finserv & Bajaj Finance Top Gainers

Asian share markets opened higher today as investors took heart from strong US retail sector reports and worries eased over inflation.

The Nikkei rose by 0.8% while the Hang Seng was up by 0.3%. The Shanghai Composite is trading lower by 0.5%.

US equities went for a ride on Tuesday, ending the day mixed after bouncing around for most of the session as investors digested solid retail company earnings but disappointing housing data.

The Dow Jones was up by 0.7% while the tech heavy Nasdaq was down by 0.2%.

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

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

The BSE Sensex crossed the mark of 60,000 after a prolonged wait.

At present, the BSE Sensex is trading higher by 296 points. Meanwhile, the NSE Nifty is trading up by 80 points.

NTPC and Bajaj Finserv are among the top gainers today.

Maruti and Kotak Bank are among the top losers today.

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Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.6% while the BSE Small Cap index is trading higher by 0.5%.

Check out these top 5 stocks which mutual funds bought and sold in July 2022.

Sectoral indices are trading on a positive note, with the exception of metal sector. The stocks in the utilities and power sector witness most of the buying.

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

Wabco India and SKF India 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 most profitable mid cap stocks.

In the commodity markets, gold prices rise. Gold prices are trading higher by Rs 56. Currently, gold prices are trading at Rs 51,893 per 10 grams.

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

Meanwhile, silver prices are trading higher at Rs 57,800 per kg. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.3 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.

Also, speaking of stock markets, at times where share market has been consistently inconsistent, it's becoming increasingly difficult to predict the price pattern of any share.

Hence, it becomes important to have a system in place where in your investments and returns both, can also be regularised. This can be done by Systematic Investment Plans (SIP).

Rahul Shah - Editor and Co-head of Research at Equitymaster, explained how SIP would benefit an investor, if the investor invests in SIPs in the bull market.

He showed through the following chart how returns would have progressed if an investor would have held on to investment in SIP for a period of 15-18 months.

For more details, read the entire editorial: How to Earn 15% Returns Even if the Market is at All-Time Highs.

In news from the power sector, NTPC is about to raise funds.

State-run NTPC plans to raise up to Rs 50 bn through term loan and has sought bids from banks and financial institutions by 31 August 2022.

The proceeds of the loan shall be utilized towards capital expenditure for ongoing or new capacity addition including takeover of projects, renewable energy projects, coal mining business, renovation and modernization program of various projects, refinancing of loans and general corporate purposes among others.

The bids would be evaluated on the basis of quoted rate of interest.

The term loans of NTPC are rated AAA (Stable) by rating agencies like CRISIL, ICRA, CARE and India Ratings.

In May also, the company had sought bids for raising term-loan of up to Rs 50 bn for capital expenditure for ongoing or new electricity generation capacity addition projects.

NTPC is one of the 5 Indian companies that are leading the green hydrogen revolution.

Further in news from the finance sector, promoter divests stake from HDFC Asset Management Company (AMC).

Promoter BRDN Investment Management, formerly Standard Life Investments, on Tuesday divested its 5.6% stake in HDFC Asset Management Company for a little over Rs 23 bn through an open market transaction.

According to bulk deal data available with the BSE, the promoter sold a total of 11.9 m shares.

The shares were divested at Rs 1,935.6 apiece, a discount from Friday's closing price of Rs 1,956.2. The transaction size aggregated to Rs 23 bn.

Despite the transaction, shares of the asset management firm rose 11.5% to settle at Rs 2,180.8 on the BSE.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and BRDN Investment Management.

BRDN Investment Management, one of the promoters of HDFC AMC, held 16.2% stake in the company while another promoter HDFC owned 52.6 stake as of June 2022, according to the shareholding pattern data with BSE.

In September 2021, BRDN Investment Management had divested a 5% stake in HDFC AMC through the open market transaction.

HDFC AMC had recently announced its Q1 results. Here are the 5 takeaways from HDFC AMC's Q1 results.

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...

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