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SGX Nifty Up 96 Points, Relief for Oil Marketing Companies, Why Steel Sector May Remain Under Pressure, and Top Buzzing Stocks Today

Tue, 13 Sep Pre-Open

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On Monday, Indian share markets traded on a positive note throughout the day and ended on a firm note.

The global stock market rally lifted Indian benchmarks as investors shrugged off hawkish policies by Fed.

At the closing bell on Monday, the BSE Sensex stood higher by 322 points (up 0.5%).

Meanwhile, the NSE Nifty closed up by 103 points (up 0.6%).

Adani Ports, Titan, and Divis Laboratories were among the top gainers.

Coal India, Shree Cement, and HDFC on the other hand, were among the top losers.

The broader markets ended on a positive note. The BSE Mid Cap index ended up by 0.9% and the BSE Small Cap index ended higher by 1%.

All sectoral indices ended on a strong note with stocks in the realty sector, IT sector, and media sector witnessing most of the buying.

Among the top media stocks in India, Zee Entertainment, Navneet Education and Entertainment Networks ended higher in the range of 2-5%.

At 7:40 AM today, the SGX Nifty was trading up by 96 points or 0.6% higher at 18,040 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Shares of Adani Transmission, Eicher Motors and Hindustan Aeronautics hit their 52-week high.

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

Gold prices were trading up by 0.1% at Rs 50,529 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX were trading higher by 1.6% at Rs 55,050 per kg.

Note that gold prices have fallen and have taken quite a knock in recent weeks. Silver prices too have fallen a lot in recent days.

The question on everyone's mind now is when will gold and silver prices recover?

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

TVS Motor will be among the top buzzing stocks today.

Shares of TVS Motor hit a new high of Rs 1,071 yesterday on expectation of strong earnings growth.

TVS Motor Company saw its market capitalisation cross Rs 500 bn mark after a sharp rise.

Adani Ports share price will also be in focus today.

Adani Ports and Special Economic Zone (APSEZ) has started to see an uptrend of late on the back of improved business outlook, and strong earnings in the June quarter of the on-going financial year.

Q1 of the financial year 2022-23 was the strongest quarter in APSEZ's history, with a record cargo volume and highest ever quarterly EBITDA. The company reported a record EBITDA of Rs 30 bn, up 11% year on year (YoY) on the back of revenue growth for the ports and logistics business.

The management had said the company continued this strong performance in July and recorded 100 MMT of cargo through-put in the initial 99 days of the financial year 2022-23, a feat never achieved before.

However, the company's consolidated revenue (excluding Gangavaram) was almost flat YoY at Rs 46.4 bn given the Rs 7.3 bn decline in revenue from the SEZ business segment.

Centre to fuse funds in public sector oil companies

India plans to pay about Rs 200 bn to the state-run fuel retailers, such as Indian Oil Corporation among others, to partly compensate them for losses, and keep a check on cooking gas prices, according to a report.

The oil ministry has sought a compensation of Rs 280 bn but the finance ministry is agreeing to only about a 200 billion cash payout. The talks are at an advanced stage but a final decision is yet to be taken.

The three biggest state-run retailers, which together supply more than 90% of India's petroleum fuels, have suffered the worst quarterly losses in years by absorbing record international crude prices.

While the handout could ease their pain, it would add pressure to the government's coffers that are already strained by tax cuts on fuels and a higher fertilizer subsidy to tackle mounting inflationary pressures.

Red flags for the steel sector

Operating conditions for steel manufacturers have deteriorated with a further fall in steel prices and rising coking coal prices. The demand environment continues to remain muted.

According to a report, domestic hot-rolled coil prices fell by Rs 700 per tonne week-on-week to Rs 55,200 per tonne. They further added that the average price in September so far is 3% below the average seen in August.

Further, there is increased pressure on margins due to a sharp rise in coking coal costs after a brief period of softening trend. However, on the bright side, iron ore prices continue to remain stable.

Even so, a meaningful pick-up in demand for the metal is key. The September quarter of the financial year 2022-23 is expected to bear the brunt of seasonality and the demand is likely to improve thereafter.

However, as India aims to become a manufacturing hub through campaigns such as 'Make in India' and 'Atmanirbhar Bharat', the steel sector is one that stands to benefit tremendously.

The top steel stocks in India will lead the charge when it comes to a rebound.

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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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

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