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Sensex Today Trades Marginally Higher | Banking Stocks Rise and Bank Nifty Hits Record High | M&M, IndusInd Bank Top Gainers
Tue, 13 Dec 10:30 am

Sensex Today Trades Marginally Higher | Banking Stocks Rise and Bank Nifty Hits Record High | M&M, IndusInd Bank Top Gainers

Asian share markets are buoyed today by overnight optimism on Wall Street that the US Federal Reserve and other central banks would ease off on the pace at which interest rates have been hiked.

The Nikkei rose 0.3% while the Hang Seng was up by 0.6%. The Shanghai Composite is trading lower by 0.2%.

US indices rallied overnight to kick off the trading week on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data today and a policy announcement from the Federal Reserve later in the week.

The Dow Jones ended higher by 1.6% while the tech heavy Nasdaq Composite ended higher by 1.3%.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet93.60.50.53%93.8791.9152.183.45
Apple144.52.31.64%144.5141.06182.94129.04
Meta114.7-1.2-1.03%115.72113.14352.7188.09
Tesla167.8-11.2-6.27%177.37167.52402.67166.19
Netflix315.2-4.8-1.51%323.18308.85620.61162.71
Amazon90.61.51.64%90.5887.87174.1785.87
Microsoft252.57.12.89%252.54247.17344.3213.43
Dow Jones34,005.00528.61.58%34,005.0433,519.5036,952.6528,660.94
Nasdaq11,143.70139.11.26%11,144.6810,984.8216,212.2310,088.83
Source: Equitymaster

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

Benchmark indices opened on a flat note but extended gains as the session progressed tracking firm global cues.

At present, the BSE Sensex is trading higher by 86 points. Meanwhile, the NSE Nifty is trading up by 28 points.

M&M and IndusInd Bank are among the top gainers today. Bharti Airtel and Titan are among the top losers today.

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Broader markets are trading on a positive note. The BSE Mid Cap index is trading flat and the BSE Small Cap index is trading higher by 0.4%.

Smallcaps is where growth is so check out the three smallcap growth stocks highlighted in this video.

Sectoral indices are trading on a mixed note. Stocks in the realty sector and consumer durables sector witness selling.

While stocks in the auto sector and bank sector witness buying.

Shares of Britannia and Polycab India hit their 52-week high today.

The rupee is trading at 82.7 against the US dollar.

In the commodity markets, gold prices trade higher by Rs 33 at Rs 54,165 per 10 grams.

Meanwhile, silver prices are trading lower by 0.4% at Rs 68,056 per 1 kg.

Speaking of stock markets, three hidden forces are converging simultaneously to trigger a once-in-a-generation wealth boom. We call it the Big India Revival.

Co-head of research at Equitymaster, Tanushree Banerjee has identified 3 stocks at the heart of this revival that hold the potential to generate life-changing gains over the long term.

To know more watch the video below.

A Guide to Picking Smallcap Stocks

Finding multibaggers from an entire universe is no easy task. That is why you must have some criteria laid out to find hidden gems from the smallcap space.

One way to do this is to focus on companies which have low marketcap or companies which are leaders in the segment they operate in. Basically, they should have an economic moat and some niche products, or services in the offering.

Take the example of Rajratan Wires. The company is into tyre bead manufacturing - a very niche segment.

The company is the only bead wire manufacturer in Thailand (via a wholly owned subsidiary). It has a market share of over 50% in India.

Over the years, the company took huge capacity expansions to drive future growth. The results are there for you to see...

chart

To know more about finding good smallcap stocks, read our editorial on how to screen smallcap stocks.

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Another IPO in the Works for Tata Group?

Tata Motors on 12 December stated that it had approved the partial divestment of its equity shares in subsidiary Tata Technologies via an initial public offer (IPO).

Since TCS in 2004, no company from the Tata Group has made a debut on the domestic bourses in the past 18 years.

Earlier this month, Tata Play (earlier called Tata Sky) filed for a confidential pre-filing of offer documents.

Tata Motors holds little more than 74% stake in Tata Technologies, according to the former's 2022 annual report.

In the last one year, Tata Technologies which is led by CEO Warren Harris has seen a sharp uptick in revenues due to relaxation in regulatory and health guidelines that enabled improved business activities coupled with new business opportunities in South East Asia.

Tata Technologies focuses on 4 key verticals namely automotive, aerospace, industrial machinery and industrials.

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MTAR Technologies Enters into an MoU with IN-SPACe India

MTAR Technologies announced that it has signed a memorandum of understanding (MoU) with Indian National Space Promotion and Authorization Centre (IN-SPACe) India for design and development of a two-stage to low earth orbit all liquid small satellite launch vehicle.

The satellite launch vehicle will be powered by semi cryogenic technology with a payload capacity of 500 kg.

Both the parties have entered into framework MoU for various requirements including avionics, sub systems testing, facilitation of launch etc. and any other requirements that might emerge during the course of design, development and launch phase. The MoU shall remain in force for three years.

MTAR Technologies caters to Civil Nuclear Power, Space, Defence and Clean Energy sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs.

Take about space industry, not many people know this, but India has a strong presence in different aspects of the space industry, including aerospace engineering and astronautics.

The country is on its way to own a slice of the trillion-dollar global aerospace and defence industry.

Hence, in this scenario it becomes important for an investor focus on 5 Indian space stocks to add to your watchlist.

Godrej Agrovet Sells Land

The animal feed company Godrej Agrovet has sold 3.9 acres of land in Tamil Nadu for Rs 713.6 m in two separate deals.

The company has sold 0.6 acres to Godrej and Boyce Manufacturing Company for Rs 118.3 m. In another deal, it has sold 3.3 acres to Minerva Veritas Data Centre for Rs 595.3 m.

The deal with Godrej and Boyce falls in related parties' transaction.

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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