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Sensex Today Trades Flat | Adani Group Stocks Rally up to 15% | BPCL & Hindalco Top Gainers
Tue, 28 Nov 10:30 am

Sensex Today Trades Flat | Adani Group Stocks Rally up to 15% | BPCL & Hindalco Top Gainers

Asian shares opened mostly higher on Tuesday, despite lacking firm direction either way. However, bulls took the charge hoping the combination of a weaker dollar, lower US bond yields and softer oil prices will provide the impetus for a more positive session.

The Nikkei is trading 0.3% lower while the Hang Seng index is trading 0.2% lower. The Shanghai Composite is trading flat.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked in to high gear and retailers lured bargain hunters with Cyber Monday deals.

Here's a table showing how US stocks performed on Monday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet138.05-0.17-0.12%139.63137.54142.3885.57
Apple189.79-0.18-0.09%190.67188.9198.23124.17
Meta334.7-3.53-1.04%339.9334.2342.92108.38
Tesla236.080.630.27%238.33232.1299.29101.81
Netflix479.17-0.39-0.08%482475.35485273.41
Amazon147.730.990.67%149.26146.88149.2681.43
Microsoft378.611.180.31%380.64376.2380.64219.35
Dow Jones35333.47-56.68-0.16%35410.3735280.5735679.1331429.82
Nasdaq15961.98-20.03-0.13%16045.315932.1916119.3110671.19
Data Source: Equitymaster

At present, the BSE Sensex and NSE Nifty is trading marginally higher.

Adani Enterprises and Adani Ports are among the top gainers today.

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Tech Mahindra and HCL Tech on the other hand are among the top losers today.

Broader markets are trading on positive note. The BSE Mid Cap index is trading 0.1% higher and the BSE Small Cap index is trading higher by 0.3%.

Barring the stocks in FMCG and Capital goods sector, all other sectoral indices are trading on the positive note, with stocks in energy sector, power sector, and oil and gas sector witnessing most buying.

Shares of Bajaj Auto and JK Cement hit their 52-week high today.

The rupee is trading at Rs 83.38 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 62,039 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 76,344 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Co-head of research, Rahul Shah in his latest video talks about little-known Tata Company.

The stock has more than doubled in the last few months and there seems to be no solid reason behind the same.

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Tune in to below video to know what is this stock and what exactly is the story.

Tata Motors Mulls Price Hike

Tata Motors on Monday said it is considering increasing the prices of its passenger and electric vehicles in January 2024.

The company, which sells a range of passenger vehicles starting with the hatchback Tiago to premium SUV Safari priced between Rs 5.6 lakh and Rs 25.94 lakh, however, did not specify the quantum of the proposed hike.

The extent of the hike and exact details will be announced in a few weeks.

The company joins the likes of Maruti Suzuki India and Audi, which have also planned to increase the prices of their vehicles in January 2024.

Tata Motors shares surged over 60% in 2023. To know what is driving the rally, check out Why Tata Motors Share Price is Rising.

chart

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

Foxconn's Expansion plan

iPhone maker Hon Hai Precision Industry Co, also known as Foxconn, plans to expand its footprint in India with another NT$50 billion (US$ 1.6 billion) investment for construction projects.

The news comes as Hon Hai and other Taiwanese electronics manufacturers continue to diversify their businesses outside of China as tensions rise between Washington and Beijing.

About half of Foxconn's revenue comes from business with Apple Inc. The company has been making iPhones and other products in India for several years, including the latest iPhone 15.

In September, a Foxconn representative in India said on LinkedIn that the Taiwanese company plans to double the size of its business in the South Asian country.

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In the Karnataka government in August announced that Foxconn planned to invest $600 million in two-component factories in the southern Indian state. That included a plant that will make mechanical enclosures for iPhones and a semiconductor equipment manufacturing plant that will operate with Applied Materials.

Those two projects are on top of a US$ 700 million (m) facility Foxconn aims to build on a 300-acre (121 hectares) site close to the airport in Bengaluru, the capital of Karnataka, Bloomberg News previously reported. That plant is likely to assemble iPhones.

Foxconn already operates nine production campuses and more than 30 factories employing tens of thousands of people in India, where it takes in around US$ 10 billion of revenue annually.

For more, check out The Indian iPhone Story: Everything You Need to Know.

FDA Warning May Hurdle Cipla's Imports

Cipla's investors are on tenterhooks following the US Food and Drug Administration's (FDA's) warning letter for the pharmaceutical company's Indore plant.

The stock tanked 8% on 23 November after the details of the letter, which underlined data integrity issues at the facility, embedded with product complaints and microbial contamination, emerged. It narrowed losses the next day but was still down 6% and ended the week over 4% lower.

The market is closed on 27 November on account of Guru Nanak Jayanti.

Can this warning letter now escalate into an import alert? An import alert takes several years to resolve.

According to the market analyst, the probability of an import alert is low since the warning letter is a continuation of observations received in Form 483 on 17 February 2023 and the classification of the unit as Official Action Indicated (OAI) on 5 August.

Pharmaceutical giant Cipla is reportedly exploring a stake sale, and contenders are cropping up in an intense competition. For more, check out Cipla Promoter Stake Sale: Billions of Dollars in Play.

It is among the Top 5 Nifty 50 Stocks that Beat Earnings Estimates by a Wide Margin in Q1.

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


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