Markets will remain closed on May 01, 2024 on account of Maharashtra Day.

Recovery in Service Sector Activity, September Gold Imports and Top Buzzing Stocks Today

Wed, 7 Oct Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

On Tuesday, Indian share markets closed at more than a month's high helped by gains in HDFC twins, with investors shifting focus to the outcome of RBI's two-day policy meeting scheduled later in the week.

Benchmark indices ended higher for the fourth straight session, tracking Asian peers which rose to two-week high after US President Donald Trump was discharged from hospital following treatment for Covid-19.

At the closing bell yesterday, the BSE Sensex stood higher by 601 points (up 1.5%). The NSE Nifty closed higher by 159 points (up 1.4%).

On the sectoral front, gains were largely seen in the realty sector and finance sector.

Speaking of stock markets, in our latest episode of Investor Hour Podcast, Mark Faber talks about global stock markets, gold, investing in Indian stocks and a lot more.

Dr Faber is bullish on India and owns Indian stocks via an ETF. He believes India is a top destination for global investors and that will not change.

In the podcast, he also talks about his personal investments and why he is investing his money the way he is right now.

Tune in to the video here:

Top Buzzing Stocks Today

Adani Ports & SEZ share price will be in focus today after the company announced the completion of acquisition of Krishnapatnam Port (KPCL) for an enterprise value of Rs 120 billion.

Britannia Industries will also be among the top buzzing stocks today.

Britannia Industries' board on Monday approved 1 bonus debenture for 1 share held. The board also approved payment of Rs 12.5 per share as dividend.

Market participants will also track Infibeam Avenues share price. Reports state that the company has entered into a definitive agreement with Jio Platforms and its affiliates.

From the Economic Space...

India's service sector output broadly stabilized in September amid relaxations in the Covid-19 restrictions, a private survey showed on Tuesday even though services employment decreased for the seventh month in a row and at a quicker rate than in August.

The Nikkei/IHS Markit Services Purchasing Managers' index bounced to 49.8 in September from August's 41.8, a touch below the 50 mark that separates expansion from contraction on a monthly basis.

September was the seventh straight month that activity had contracted, the longest such stretch since a 10-month run to early 2014.

As per the survey, while participants were upbeat about the year-ahead outlook for business activity for the first time since April, there were further reductions in new work and employment.

Meanwhile, the manufacturing sector activity improved for the second straight month in September and touched an over eight-and-a-half-year high supported by accelerated increases in new orders and production.

RBI Monetary Policy Decision

The Reserve Bank of India (RBI) on Tuesday said that its six-member monetary policy committee (MPC) will meet during October 7 to October 9.

The meetings were originally scheduled for September 29, 30 and October 1, but had to be postponed as the government did not appoint the external members.

Late Monday, the government named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the central bank's MPC.

Reports state that RBI is widely expected to keep key rates unchanged at the upcoming monetary policy review, as it attempts to manage high retail inflation while keeping its policy stance accommodative.

The RBI has slashed rates by 115 basis points in response to the Covid-19 pandemic since late March.

From the Mutual Funds Space...

In news from the mutual funds space, mutual funds' asset base rose by 12% to Rs 27.6 lakh crore in the quarter ended September 30 mainly due to appreciation in the value of their existing holding in equity-oriented funds.

The average asset under management (AAUM) of the industry, comprising 45 players, was at Rs 24.6 lakh crore in April-June quarter, according to data by Association of Mutual Funds in India (Amfi).

All the top five fund houses, SBI MF, HDFC MF, ICICI Prudential MF, Aditya Birla Sunlife MF and Nippon India MF witnessed an increase in their respective average AUMs during the September quarter.

With an asset base of Rs 4,213.6 billion, SBI Mutual Fund continue to be the largest fund house during the September quarter 2020.

HDFC MF, which is at the second position, saw its asset base rising by 5.4% to Rs 3,755.2 billion during the period under review from Rs 3,561.8 billion in June quarter.

In June quarter, the industry had registered an 8% decline in AUM on account of outflow pressure both in debt and equity.

In other news, markets regulator on Monday tweaked product labelling norms for the Rs 27-trillion MF industry, introducing a new label called 'very high' risk.

The regulator also released a detailed framework for assigning labels to various mutual fund schemes. For equity schemes, the label will be dependent on various factors such as market cap, volatility and impact costs of the underlying stocks.

For debt schemes, the riskiness will have to be determined by factors such as credit risk, interest rate risk and liquidity risk.

The new framework will become effective from January 1, 2021.

Gold Imports Fall to 4-Month Low

India's gold imports in September fell 59% from a year earlier to the lowest level in four months, a government source said on Tuesday, as a drop in prices from a record high failed to lure buyers, which were postponing purchases anticipating bigger drop.

The world's second-biggest consumer of the precious metal imported around 11 tonnes of gold in September, down from 27 tonnes a year ago.

Meanwhile, silver imports in the month plunged 93% from a year ago to 20 tonnes.

Global Stock Market Drivers

On Tuesday, Asian stock markets ended higher tracking gains in US markets amid hopes of fresh stimulus in the US. The Hang Seng ended up by 0.9% and the Nikkei ended up by 0.5%.

European stocks edged lower in early trade yesterday, while US stock futures were also trading marginally lower.

On the commodities front, crude oil prices gained amid supply disruptions in Norway, a new hurricane in the Gulf of Mexico, and US President Donald Trump's return to the White House after being treated for Covid-19 in hospital.

Here are the key events due later this week:

• US - FOMC Statement
• Japan - Current Account - August & GDP
• US - Manufacturing Production, GDP

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers