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Sensex Trades Over 300 Points Higher, Dow Futures Up by 91 Points
Thu, 24 Jun 12:30 pm

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 341 points, up 0.7% at 52,647 levels.

Meanwhile, the NSE Nifty is trading up by 89 points.

Infosys and TCS are among the top gainers today. IOC and Reliance are among the top losers today.

The BSE Mid Cap index is trading down by 0.3%.

The BSE Small Cap index is trading down by 0.1%.

On the sectoral front, stocks from the power sector, are witnessing most of the selling pressure.

On the other hand, stocks from the software sector, are witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 35 points (up 0.3%) while Dow Futures are trading up by 91 points (up 0.3%).

The rupee is trading at 74.24 against the US$.

Gold prices are trading down by 0.4% at Rs 46,908 per 10 grams.

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Gold prices in India remained weak near two-month lows in early trade today as futures on MCX fell 0.4% to Rs 46,881 per 10 grams.

In global markets, gold retreated below US$ 1,775, hurt by a stronger US dollar that made the precious metal more more expensive for holders of other currencies.

Spot gold was down 0.2% at US$ 1,775 per ounce. Meanwhile, the dollar index held firm at near 11-week high of 91.81 against its rivals.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about why you should consider making trading profits along with your long-term investments, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Greaves Cotton.

Shares of Greaves Cotton continued their upward movement in early trade today after hitting an over four-year high on the bourses yesterday.

The share has been in focus after the Gujarat government announced its new electric vehicle (EV) policy.

The Rebirth of India: A Once-in-a-generation Wealth Making Opportunity Get Details Now

The policy provides a purchase incentive of Rs 10,000/kWh for EVs with segment-wise limits set at Rs 20,000/kWh for two wheelers, Rs 50,000/kWh for three wheelers and Rs 150,000/kWh for four wheelers.

The state will also incentivise setting up of charging stations via a capital subsidy of 25% or Rs 1 m, whichever is lower.

The revision in the FAME (II) policy and increasing the subsidy by 50% per KWh, is likely to accelerate electric two-wheelers sales for Ampere Vehicles, a subsidiary of Greaves Cotton.

Greaves e-mobility segment has seen higher growth momentum, with Ampere gaining popularity due to the rise in demand for its electric two-wheelers (electric scooters) and electric three-wheelers (electric rickshaws).

Ampere has more than half a dozen electric two-wheelers in its portfolio and could further gain market share with this policy.

How this pans out for the company remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, Greaves Cotton shares were trading up by 4.9% on the BSE.

Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.


Here's what co-head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of Profit Hunter:

  • 106 public and private entities have approached the government for permissions to set up about 7,000 EV charging stations.

    This clearly shows the vehicle manufacturers have enough incentive to capture this latent demand.

    The tax benefit in terms of a lower GST rate (at 5%) is a further shot in the arm of the EV industry.

As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

Tanushree believes one of the companies manufacturing lithium ion batteries for powering electric cars will be a key catalyst for the Rebirth of India

Moving on to news from the healthcare sector...

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Apollo Hospital Trades in Red as March Quarter Profit Falls

Share of Apollo Hospitals Enterprises fell in early trade today after the company reported a 44% YoY fall in net profit for the March 2021 quarter.

The company reported a consolidated net profit of Rs 1.7 bn for the quarter against a consolidated net profit of Rs 2.1 bn in the same period last year.

The company also announced the country's "largest omni-channel digital health platform" by merging its online, offline pharmacy and tele-medicine verticals into a single entity called Apollo HealthCo.

Apollo transferred its back-end offline pharmacy business, digital healthcare platform Apollo 24/7, its retail pharmacy business and the "Apollo 24/7" brand, into the healthcare group's 100% subsidiary Apollo HealthCo.

The platform will combine the strengths of Apollo Group's offline healthcare leadership with Apollo Group's new-age digital offerings to address all healthcare consumer needs, the company said.

We will keep you posted on more updates from this space. Stay tuned.

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


What else is happening in the markets today? Dig in...

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Stock Market Updates

INDIAN ENERGY EXCHANGE Share Price Up by 15%; BSE POWER Index Up 1.3% (Today's Market)

Oct 19, 2021 09:30 AM

INDIAN ENERGY EXCHANGE share price is trading up by 15% and its current market price is Rs 916. The BSE POWER is up by 1.3%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 15.0%) and ADANI POWER (up 10.0%). The top losers are KALPATARU POWER (down 0.5%) and POWER GRID (down 0.9%).

L&T at All Time High; BSE CAPITAL GOODS Index Up 1.8% (Today's Market)

Oct 19, 2021 09:30 AM

L&T share price has hit an all time high at Rs 1,853 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.8%. Among the top gainers in the BSE CAPITAL GOODS Index today are L&T (up 3.6%) and LAKSHMI MACHINE (up 1.1%). The top losers include BHARAT ELECTRONICS (down 0.2%) and KALPATARU POWER (down 0.5%).

HINDUSTAN COPPER Share Price Up by 6%; BSE METAL Index Up 0.3% (Today's Market)

Oct 19, 2021 09:30 AM

HINDUSTAN COPPER share price is trading up by 6% and its current market price is Rs 159. The BSE METAL is up by 0.3%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 6.3%). The top losers are JSW STEEL (down 0.1%) and HINDUSTAN ZINC (down 0.5%).

CYIENT Share Price Up by 5%; BSE IT Index Up 1.2% (Today's Market)

Oct 19, 2021 09:30 AM

CYIENT share price is trading up by 5% and its current market price is Rs 1,255. The BSE IT is up by 1.2%. The top gainers in the BSE IT Index are CYIENT (up 5.2%) and L&T INFOTECH (up 9.4%).

MPHASIS Share Price Up by 5%; BSE IT Index Up 1.3% (Today's Market)

Oct 19, 2021 09:28 AM

MPHASIS share price is trading up by 5% and its current market price is Rs 3,536. The BSE IT is up by 1.3%. The top gainers in the BSE IT Index are MPHASIS (up 5.3%) and L&T INFOTECH (up 9.9%).

SGX Nifty Up 77 Points, UltraTech Cement's Quarterly Performance, Deadline for AGR Dues Moratorium, and Buzzing Stocks Today (Today's Market)

Oct 19, 2021 Pre-Open

Top cues to track in today's stock market session.

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Oct 19, 2021 12:13 PM

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