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Sensex Today Trades Higher | Capital Goods, Energy Stocks Witness Buying | Axis Bank and M&M Among Top Gainers
Thu, 8 Dec 10:30 am

Sensex Today Trades Higher | Capital Goods, Energy Stocks Witness Buying | Axis Bank and M&M Among Top Gainers

Asian share markets are trading on a mixed note today as growing fears of an economic slowdown and worries over the pace of the Federal Reserve's interest rate hikes weighed on sentiment.

The Nikkei is down 0.6% while the Shanghai Composite is up 0.1%. The Hang Seng is up 2.8%

The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve's monetary policy tightening might feed through into corporate America.

The Dow Jones ended flat while the tech heavy Nasdaq dropped 0.5%.

Here's a table showing performance of US stocks yesterday:

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 95.15 -2.16 -2.22% 97.31 95.03 152.1 83.5
Apple 140.94 -1.97 -1.38% 143.37 140 182.94 129
Meta 113.93 -0.19 -0.17% 115.88 112.88 352.71 88.1
Tesla 174.04 -5.78 -3.21% 179.38 172.22 402.67 166.2
Netflix 308.42 2.86 0.94% 309.61 302.1 632.46 162.7
Amazon 88.46 0.21 0.24% 89.89 87.48 177.5 85.9
Microsoft 244.37 -0.75 -0.31% 246.16 242.21 344.3 213.4
Dow Jones 33,597.92 1.58 0.00% 33,774.27 33,503.67 36,952.65 28,660.94
Nasdaq 11,497.39 -52.29 -0.45% 11,577.69 11,431.96 16,764.86 10,440.64
Source: Equitymaster

Back home, Indian share markets are trading on a positive note, following the trend on SGX Nifty.

Benchmark indices extended gains today after opening on a flat note ahead of election results.

The BSE Sensex is trading up by 209 points. Meanwhile, the NSE Nifty is trading higher by 63 points.

IndusInd Bank and Axis Bank are among the top gainers today. TCS and Kotak Mahindra Bank, on the other hand, are among the top losers today.

Both the BSE Mid Cap index and the BSE Small Cap are trading higher by 0.3%.

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All sectoral indices are trading on a positive note with the exception of IT sector and healthcare sector.

Stocks in the capital goods sector, energy sector and commodities sector are witnessing most of the buying.

Shares of L&T of India and United Breweries hit their 52-week highs today.

The rupee is trading at 82.3 against the US$.

Gold prices are trading down by Rs 18 at Rs 53,970 per 10 grams.

Meanwhile, silver prices are trading down by 0.2% at Rs 66,123 per kg.

Speaking of stock markets, the Bank Nifty is looking good on the charts for December.

December is usually the best month of the year for the benchmark indices. This year seems to be no different. The markets are at life highs.

Amid the bullishness, the Bank Nifty is looking strong on the charts. It could be a prime candidate for a Santa Claus rally.

In the below video Chartist Brijesh Bhatia explains all about the Santa Claus rally in bank stocks. Watch now.

IDFC Partners with NASSOM COE

IDFC First Bank and NASSCOM Centre of Excellence (COE) have partnered to grow the innovation ecosystem and guide startups through a range of banking solutions.

A Memorandum of Understanding (MoU) was signed between IDFC First Bank and NASSCOM COE, appointing the bank as a preferred banking partner for startups in Bengaluru.

IDFC First Bank will offer its solutions for startups, including zero balance startup current account, working capital solutions for pre-profit startups, and business credit cards, among others, said a release.

While NASSCOM COE will bring in technology and domain expertise to the partnership, IDFC First Bank will offer tailored financial products to support innovation and entrepreneurship.

Speaking of banking stocks, when it comes to innovation,  HDFC Bank is one that has always adapted to changing times.

HDFC Bank wanted to transform itself from a leader in the physical banking to a leader in online banking. Since then, HDFC Bank has constantly focused on going digital.

In 2004, only 10% of customer transactions were initiated through internet and mobile. The number has gone up to 92% in 2019.

chart

It is a great example of a company which has taken advantage of its scale and embraced disruption rather than fear it.

These are traits that one should look for in picking stocks. They not only withstand the disruption but also gain from it in the long-run.

Tech Mahindra Launches Cloud Blaze Tech

Tech Mahindra has announced the launch of Cloud BlazeTech, an integrated, sector-agnostic platform, to maximize business value for cloud-powered enterprises globally. The organization will continue to invest in cloud services & hyperscaler relationships to boost digital transformation for enterprises.

Integrated cloud migration, cloud-native operation & self-healing governance model, Cloud BlazeTech supports bi-modal infrastructure transformation and helps enterprises to accelerate to a cloud-native world.

In addition, the platform has integrations with hyperscaler hybrid cloud platforms to provide industry-specific pre-build cloud-native solutions that drive faster business outcomes. By adopting the Cloud BlazeTech platform, enterprises will achieve 25-30% cost savings and a 30% improvement in migration time.

Eicher's Operations in Brazil Kickstart

Eicher Motors - the niche bike maker on Wednesday said its new assembly facility in Brazil has commenced operations.

The CKD (completely knocked down) plant is a significant step forward in the company's plans in Latin America and reiterates the brand's commitment to the region, the company, a part of Eicher Motors.

Located in Manaus, capital of Amazonas state, the facility is the company's fourth CKD assembly unit across the world -- after Thailand, Colombia and Argentina -- in addition to its manufacturing and ancillary facilities located in India.

With an assembly capacity of more than 15,000 units per year, the facility will cater to growing demand in Brazil.

The facility will roll out the entire line-up of Royal Enfield motorcycles, including the new Classic 350, the Meteor 350, the Himalayan, and the 650 twin motorcycles -- Continental GT and the Interceptor.

Brazil has been a very strong market and is soon poised to be the single largest market for for the company outside of India.

Aster DM Healthcare Signs a New Contract

Aster DM Healthcare signed a Contract with Faruk Medical City, Iraq's leading healthcare service provider, to collaborate on capability development and academic and professional training programs for clinical staff and healthcare professionals in Iraq.

Faruk Medical City is a part of Faruk Investment Group - one of the largest investment groups in Iraq.

Through this partnership, doctors from Aster DM Healthcare will visit Faruk Medical City's state-of-the-art facilities to consult and provide surgical services which are not locally available and for which patients have to travel overseas.

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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