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SGX Nifty Tanks 2%, Retail Sales add Shine for FMCG Stocks, Cryptos Tumble as US Inflation Exceeds Estimates, and Top Buzzing Stocks Today

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On Tuesday, Indian share markets extended gains as the session progressed and ended near five-month high.

FMCG stocks and metal sector stocks gained the most as investors looked past the faster than expected inflation print.

The rupee also gained against US dollar, which added to the rally.

At the closing bell on Tuesday, the BSE Sensex stood higher by 456 points (up 0.7%).

Meanwhile, the NSE Nifty closed up by 133 points (up 0.8%).

Tata Consumer Products, IndusInd Bank, and Britannia were among the top gainers.

Shree Cements, Cipla, and Eicher Motors 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 0.3% and the BSE Small Cap index ended higher by 0.2%.

All sectoral indices ended on a mixed note with stocks in the finance sector, FMCG sector, and metal sector witnessing most of the buying.

While stocks in realty sector, Oil & gas sector, and energy sector witnessed maximum selling pressure.

Shares of Adani Transmission, J B Chemicals, and Tata Investment 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.

At 8:00 AM today, the SGX Nifty was trading down by 312 points or 1.9% lower at 17,750 levels.

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

Gold prices were trading down by 0.3% at Rs 50,457 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX were trading lower by 0.2% at Rs 57,491 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

Ami Organics will be among the top buzzing stocks today.

Shares of Ami Organics rose 10% yesterday after a bulk deal.

Plutus Wealth Management acquired additional 9,53,420 equity shares or 2.6% stake in the company. Also, Small Cap World Fund Inc bought fresh 15,96,540 shares or 4.4% stake in the company at an average price of Rs 1,037.3 per share.

HDFC Life Insurance share price will also be in focus today.

HDFC Life Insurance also witnessed traction on the back of a huge block deal with UK based investment company Abrdn.

Abrdn is planning to sell up to 430 m shares representing 2% of HDFC Life's outstanding shares through a block deal to raise over Rs 24.2 bn.

The company will offload in the price band of Rs 564.1 - 578.55, which is a discount of up to 2.5% on the scrip's close on Monday in the block deal.

The shareholding of Abrdn, one of the promoters of the insurer, will fall to 1.7% after the trade is executed from the present 3.7%, as per the term sheet. Mortgage major HDFC, the other promoter in the private sector insurer, will continue to hold 48.7% of the company.

FMCG Stocks Gain Traction

Shares of FMCG stocks rallied up to 5% on Tuesday. The rally was on the back of 15% growth in sales of retail business.

Shares of Tata Consumer Products, Bajaj Consumer, and Britannia Industries gained up to 3%.

Retail business across India reported a growth of 15% in sales as compared to pre-pandemic levels, according to a survey by Retailers Association of India. Most of the items with higher prices are selling well. This was due to higher spending of upper middle and elite class.

This strong growth across all segments will result in higher margin of the company.

Rupee Climbs

The Indian rupee rose to an over one-month high against the US currency on Tuesday, spurred by foreign inflows into local debt and equity markets.

The rupee appreciated 28 paise to 79.25 against the US dollar in opening trade on Tuesday, tracking the dollar's decline versus its major peers and foreign fund inflows.

The rupee closed at 79.1475 per U.S. dollar, compared with the previous close of 79.5225, notching up its best session this month.The local currency reached 79.0350 around the middle of the session, its highest level since 5 August.

Hopes of an inclusion of Indian bonds in global indexes and lower oil prices also supported the rupee.This month, FIIs have poured in about US$ 6 bn into Indian equities. This is the biggest inflow since December 2021.

The rupee was falling for quite some time now, depreciating below the 80 per dollar mark last month.

If you're looking for investing ideas, we suggest watching this video -?How to Profit from a Rising US Dollar.

Also read our recent pieces on?how IT stocks benefit from a falling rupee?and the?5 stocks that can gain from a falling rupee.

Cryptos Inch Lower

World's largest crypto Bitcoin tumbled below US$ 22,000, dropping about 5.4% as US inflation data disappointed forecasts.

After the Consumer Price Index (CPI) inflation for August came in at 8.3% year over year, BTC/USD quickly dropped $1,000. The overshoot indicated that inflation was not dropping at the anticipated rate despite the assumption that the most recent figure would be 8.1%.

With last week's price surge, Bitcoin price has entered a 'sell-zone' where the bears are just waiting to hammer the price down. Currently, BTC price is experiencing a tough brawl between the bulls & bears and looking at the current scenario the bear would make the way soon.

Note that cryptos have been falling and are struggling through the first half of the year as the Federal Reserve hiked rates to combat stubbornly high inflation.

Prices of Bitcoin, Ether and other tokens fell by more than 50% owing to this. With US inflation data coming in below expectations in the past week, potentially paving the way for less-aggressive tightening action from the Fed, risk assets like cryptos have advanced.

Since cryptos interest you, check out the best cryptos to invest.

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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