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Sensex Today Trades on a Volatile Note | Axis Bank Hits Record High | HCL Tech, Wipro & Tech Mahindra Top Gainers
Wed, 21 Dec 10:30 am

Sensex Today Trades on a Volatile Note | Axis Bank Hits Record High | HCL Tech, Wipro & Tech Mahindra Top Gainers

Asian share markets are trading mixed today as investors approach the end of one of the worst years for stocks in more than a decade.

The yen held gains while Japan's two-year government yield rose above zero for the first time since 2015.

The Nikkei fell by 0.6% while the Hang Seng was up by 0.1%. The Shanghai Composite is trading lower by 0.1%.

Wall Street indices closed slightly higher on Tuesday after four sessions of declines, but investors fretted about weak holiday shopping and rising bond yields added pressure after the Bank of Japan's (BoJ) surprise tweak of monetary policy.

The Dow Jones ended lower by 0.3% while the tech heavy Nasdaq Composite ended flat.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet89.630.480.54%89.7888.04152.183.45
Apple132.3-0.07-0.05%133.25129.89182.94129.04
Meta117.092.612.28%122112.46352.7188.09
Tesla137.8-12.07-8.05%148.47137.66402.67137.66
Netflix288.19-0.11-0.04%289.28280.81620.61162.71
Amazon85.190.270.32%86.6184.33172.9484.33
Microsoft241.81.350.56%242.91238.42344.3213.43
Dow Jones32,849.7492.20.28%32,992.2332,649.4536,952.6528,660.94
Nasdaq11,072.43-12.17-0.11%11,143.6210,967.0716,764.8610,440.64
Source: Equitymaster

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

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Benchmark indices opened in green today tracking firm global cues. However, gains were erased as the session progressed.

At present, the BSE Sensex is trading higher by 50 points. Meanwhile, the NSE Nifty is trading higher by 8 points.

HCL Technologies and Axis Bank are among the top gainers today. Bharti Airtel and HDFC are among the top losers today.

Axis Bank hit a new all time high today and the stock has continuously rallied even when the markets were weak in recent sessions.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 0.2% and the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a mixed note. Stocks in the realty sector, and healthcare sector witness buying.

Meanwhile stocks in the capital goods sector, metal sector and oil and gas sector witness selling.

Shares of Abbott India and ESAB 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 8 at Rs 54,906 per 10 grams.

Meanwhile, silver prices are trading lower by 0.2% at Rs 69,533 per 1 kg.

In news from the real estate sector, the real estate industry is expected to cross US$1 trillion (about Rs 82.7 trillion) in 2030 by market size and will contribute 13% of the GDP.

According to realty major Godrej Properties, the Indian real estate sector is in early stages of a multi-year recovery cycle and the company is looking to cash in on it by aggressively buying land parcels to enhance margins and improve risk reward returns.

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But is this a good shift in strategy from its earlier asset light model of business and is it a good time for investors to look at beaten down realty stocks like Godrej Properties?

To find out the answer, tune in to the video below.

Also, if we take a close look at the real estate sector, the realty index has gained reversal momentum recently.

According to chartist Brijesh, the fall from 454 to 436 halted at the 200DEMA (Daily Exponential Moving Average) and the reversal from long-term EMA signals the bulls are grabbing an opportunity.

 

Technically, the bullish crossover of 50DEMA over 200DEMA is known as the 'golden cross' - the long-term bullish trend.

The index is trending above the golden cross and the retest offers the low risk - high reward bullish entry.

Traders should look at realty stocks till the index is trending above the 430 level.

To know more read our editorial on: The Nifty realty index is building momentum.

Bharti Airtel Acquires Strategic Stake in an IT Firm

With an aim to build the world's largest customer data platform (CDP), Bharti Airtel on Tuesday acquired a strategic stake in Lemnisk under its 'start up accelerator programme for an undisclosed sum.

Bengaluru-based Lemnisk offers real-time marketing automation and secure CDP, capable of providing one-to-one personalisation and cross-channel customer journeys at scale that increases conversions, retention, and growth for enterprises.

They will work together to build the world's largest CDP platform across Airtel's digital businesses including ad-tech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream) and digital marketplace (Airtel Thanks App).

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But now, the world is moving away from oil... and closer to Lithium.

Lithium is the new oil. That's the reason why India is focusing heavily on expanding its lithium reserves.

If you can tap into this opportunity, then there is a potential to make huge gains over the long term.

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In future, Airtel plans to offer this service to its enterprise customers through Airtel IQ, which is the network-integrated Cloud Platform as a Service (CPaaS).

The platform will offer enterprises an opportunity to create a nimble, scalable, and omni-channel engagement for its customers.

Note that over the years, Bharti Airtel has quietly built an enviable stock portfolio by investing in startups.

Shyam Metalics Acquired Mital Corp

Kolkata-headquartered integrated metal producer Shyam Metalics and Energy has announced the acquisition of Indore-based Mittal Corp to expand its footprint in stainless steel, wire rod and bar mill businesses.

With the acquisition, Shyam Metalics adds 150,000 tonnes per annum stainless steel, wire rod and bar mill capacity. It will invest Rs 75 bn over five years to diversify its metals businesses further.

Within the next five years, capex is likely to be at Rs 100 bn to support its inorganic and organic growth plans.

The firm seeks to expand its steel capacity to 14.45 m tonne per annum from 8.9 metric tonee per annum (mtpa), including value-added long steel capacity of 2 mtpa from the existing capacity of 1.47 mtpa.

Shyam Metalics has already invested Rs 24 bn from its Rs 39.5 bn capital expenditure plan for the last two years.

The fresh infusion will also help it bet big on export markets and expand its global footprint. It is present in 40-plus countries, which contribute 16% to its revenue.

Sundaram Finance Enters a New Agreement

Sundaram Finance and Care Health Insurance, entered into a corporate agency agreement. The event was attended by Rajiv Lochan, managing director, Sundaram Finance and Anuj Gulati, managing director & CEO, Care Health Insurance.

Sundaram Finance will offer Care Health's specialised and innovative range of health insurance solutions to its loyal and increasing base of customers.

Products will be offered in the retail and group segments of Sundaram Finance's customers, who in addition to the company's existing portfolio of technology-driven and customised offerings, can now have their diverse insurance needs addressed under one umbrella.

Sundaram Finance, part of the TVS group, was established in 1954 and the company has today grown into one of the most diversified financial services groups in India, providing financing for commercial vehicles, cars and utility vehicles, tractors and farm equipment, construction equipment, SME finance, etc.

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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