Sensex Opens Marginally Up; Capital Goods Stocks Gain

Thu, 3 Sep 09:30 am

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Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.5% while the Hang Seng is up 0.2%. The Nikkei 225 is trading up by 1.4%.

US markets rose sharply on Wednesday, continuing a strong start to September for the market as traders took profits out of high-flying names like Apple and Tesla and snapped up shares in more beaten-down parts of the market.

Back home, Indian share markets have opened the day marginally higher.

The BSE Sensex is trading up by 70 points.

The NSE Nifty is trading higher by 48 points.

Meanwhile, the BSE Mid Cap index has opened up by 0.5%.

BSE Small Cap index is also trading higher by 0.6%.

Sectoral indices are trading in green with BSE Capital Goods Index witnessing maximum buying interest.

Among the top gainers in the capital goods index include Adani Green Energy and Kalpataru Power.

Moving on, the rupee is currently trading at 73.27 against the US$.

Gold prices are currently trading down by 1.3% at Rs 50,821.

To know more about gold, just visit our Youtube Playlist on gold investing.

Moving on to the stock specific news...

CDSL is among the top buzzing stocks today.

CDSL said the number of active demat accounts opened with it has reached 25 million.

CDSL, which began its operations in 1999, reached 10 million active demat accounts in September 2015, crossed the 20 million figures in January this year, and the 25 million mark as on August 2020.

In the period of less than 5 years, CDSL has added 15 million demat accounts.

Reportedly, the rise in the number of investors, especially during the current unprecedent times, is a representation that the investors are now moving to self-sufficient environment with opening and operating demat accounts from the comfort of their homes.

CDSL share price opened the day down by 1.8%.

Meanwhile, here's an interesting market data reported by Economic Times recently.

Nearly,1.2 million new demat accounts were opened in the month of March and April during the lockdown.

Most people are drawn to trading because of the availability of free time during the lockdown. It doesn't take much of an effort to enter the markets. But it would take hell of an effort to survive and profit from the market.

If you are one of those new to trading, and if you want to learn more about using technical analysis and charts to improve your trading, then read this free article here: The Secret to Success in Intra-Day Trading.

Moving on to the news from automobiles sector.

TVS Motor Company invested a sum of Rs 300 million in electric vehicle maker Ultraviolette Automotive for an undisclosed stake as part of the latter's series B round of fundraising.

TVS Motor had earlier invested Rs 110 million in the Bangalore-based company for an equity stake of 25.8% as per its latest annual report.

Ultraviolette (UV) had earlier showcased a high-performance electric motorcycle called F77. It plans to launch the motorcycle next year with expanding national availability planned in phases.

TVS Motor Company share price opened the day up by 0.9%.

Speaking of the automobile sector, note that the sector has rebounded sharply from its March lows.

Have a look at the chart below:

Healthcare sector is at the top, followed by the automobile sector.

As per Apurva Sheth, the auto index entered the greed phase in September 2019 and will stay there until December 2021. This means there is still a lot of fuel left for auto stocks.

How automobile stocks perform in the coming months remains to be seen. Stay tuned for more updates from this space.

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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