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Indian Indices End Flat; Nestle, HDFC and ICICI Bank Among Top Losers
Wed, 22 Sep Closing

Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

Benchmark indices fluctuated between gains and losses ahead of Fed meeting outcome and unknown risks from Evergrande crisis in China.

At the closing bell, the BSE Sensex stood lower by 78 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 15 points (down 0.1%).

Coal India and Tech Mahindra were among the top gainers today.

Nestle India and HDFC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,558, down by 2 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.5% and 1.2%, respectively.

On sectoral front, huge gains were seen in the realty stocks after the BSE Realty index ended the day up by 8.4%.

Banking and finance stocks, on the other hand, witnessed selling pressure.

Shares of Mindtree and Linde India hit their respective 52-week highs today.

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Asian stock markets ended on a mixed note today as investors tried to digest the crisis at Chinese property giant Evergrande. Markets in Korea and Hong Kong were shut.

The Shanghai Composite ended the day up by 0.4%, while the Nikkei ended down by 0.7%.

US stock futures are trading on a firm note today with the Dow Futures trading up by 200 points.

The rupee is trading at 73.87 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 46,674 per 10 grams.

Speaking of stock markets, Brijesh Bhatia talks about how you can protect your portfolio in a market crash, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the banking sector, Axis Bank was among the top buzzing stocks today.

Axis Bank has committed Rs 300 bn lending till fiscal year 2025-26 under its sustainable financing framework.

These commitments are in line with the Sustainable Development Goals (SDGs), supporting India's commitments under the Paris Agreement.

As part of its commitments, the bank has set a target of incremental lending of Rs 300 bn over the next 5 years, under wholesale banking towards pertinent sectors included in its Sustainable Financing Framework (SFF).

Environmental, Social and Governance (ESG) is a measure which investors use as a tool to assess how good the practices of a company are. For the last 3-4 years, the words sustainability and ESG have made people sensitive about the whole idea of a sustainable planet.

Rajesh Dahiya, Executive Director (Corporate Centre), Axis Bank said,

  • The bank's existing wholesale banking portfolio towards SFF, including green and social sectors, is little over Rs 290 bn and it intends to lend to companies where there are green practices.

    After five years till 2025-26, the bank will assess these lendings to see positive, social, and environmental outcomes and increase it further.

Going forward, the lender will also scale down its exposure to carbon-intensive sectors in its wholesale banking business portfolio.

The lender said it is expanding its ESG risk coverage in credit appraisal under its ESG policy for lending.

Axis Bank share price ended the day down by 0.9% on the BSE.

Revealing this Monday: A Potentially Life-Changing Opportunity

Moving on to news from the IT sector...

KPIT Tech Stock Jumps on Nod to Buy Germany's Future Mobility

Shares of KPIT Technologies surged today after the company's board approved the acquisition of Germany's Future Mobility.

Auto industry-focused technology firm KPIT Technologies today said its board of directors has approved acquisition of 25% stake in Germany-based Future Mobility Solutions GmbH (FMS), and the remaining stake over the next three years.

In an exchange filing, the company said it expects the acquisition of first tranche of 25% stake in Future Mobility to be completed in September 2021, while 100% acquisition is expected by the last quarter of financial year 2023-24.

The total consideration for 100% shareholding will not exceed 15.6 m euros, KPTI Technologies said.

The company further added,

  • FMS will add certain unique proprietary offerings in the autonomous driving domain.

    The partnership will improve KPIT access to one strategic client with new offerings and strengthen KPIT market presence in Germany.

Future Mobility is engaged in software and feature development in autonomous driving, ADAS and vehicle safety and integration and validation.

Future Mobility had a turnover of 4.3 m euros in calendar year 2020, which is expected to increase to 5.4 m euros in 2021.

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The company has over 50 employees and is headquartered in Gaimersheim in Germany. It also has an office in Frankfurt in the country.

KPIT Tech share price ended the day up by 6.1% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts

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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Stock Market Updates

Sensex Trades Marginally Higher, Dow Futures Down by 9 Points (Today's Market)

Oct 22, 2021 12:30 pm

BSE Sensex is trading up by 13 points, while the NSE Nifty is down by 34 points

Sensex Gains 400 Points as Realty, Finance Stocks Rally; Titan & HDFC Top Gainers (Today's Market)

Oct 22, 2021 09:30 am

Indian share markets open strong. The BSE Sensex opened up by 371 points, while the Nifty is trading higher by 98 points.

GAYATRI PROJECTS Share Price Up by 6%; BSE REALTY Index Up 1.8% (Today's Market)

Oct 22, 2021 09:39 AM

GAYATRI PROJECTS share price is trading up by 6% and its current market price is Rs 44. The BSE REALTY is up by 1.8%. The top gainers in the BSE REALTY Index is GAYATRI PROJECTS (up 6.1%).

IRB INFRA Share Price Up by 12%; BSE REALTY Index Up 2.1% (Today's Market)

Oct 22, 2021 09:37 AM

IRB INFRA share price is trading up by 12% and its current market price is Rs 275. The BSE REALTY is up by 2.1%. The top gainers in the BSE REALTY Index is IRB INFRA (up 12.2%).

KOTAK MAHINDRA BANK at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Oct 22, 2021 09:37 AM

KOTAK MAHINDRA BANK share price has hit a 52-week high. It is presently trading at Rs 2,169. BSE 500 Index is up by 0.6% at 24,796. Within the BSE 500, KOTAK MAHINDRA BANK (down 12.2%) and IRB INFRA (up 12.2%) are among the top gainers, while top losers are DHFL and SOUTH IND.BANK.

INDIAN BANK Share Price Up by 5%; BSE BANKEX Index Up 0.2% (Today's Market)

Oct 22, 2021 09:33 AM

INDIAN BANK share price is trading up by 5% and its current market price is Rs 185. The BSE BANKEX is up by 0.2%. The top gainers in the BSE BANKEX Index is INDIAN BANK (up 5.4%). The top losers are ICICI BANK (down 0.2%) and FEDERAL BANK (down 0.2%).

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