Sensex Zooms 462 Points, Nifty Ends Near 15,700; Auto & FMCG Stocks Rally
Closing

Sensex Zooms 462 Points, Nifty Ends Near 15,700; Auto & FMCG Stocks Rally

Indian share markets ended the week on a firm note tracking positive global cues.

Benchmark indices ended on a positive note as buying was witnessed in index heavyweights like Reliance and select financial stocks.

At the closing bell, the BSE Sensex climbed 462 points (up 0.9%).

Meanwhile, the NSE Nifty ended higher by 143 points (up 0.9%).

M&M, IndusInd Bank, and Bajaj Finance were among the top gainers today.

Tech Mahindra, Infosys, and NTPC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,702, up by 129 points, at the time of writing.

The broader markets also ended on a firm note. The BSE MidCap index and the BSE SmallCap index ended higher by 1.5% and 1.6% respectively.

Barring IT, all sectoral indices ended in green with stocks in the auto sector, telecom sector, and FMCG sector witnessing most of the buying.

IT stocks have taken a strong beating in the current calendar year. So be prepared on what may come next. Read about what the massive selloff in US tech stocks teaches us about investing.

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As Indian share markets seem to be recovering, you must be wondering when will the markets fully recover.

In this uncertainty, check out these 5 consistent compounding stocks that are available at discount.

Also, check out this stock we call as the greatest dividend stock of all time. This IT company's dividend growth rate has beaten Nifty's 20 year annual returns.

Asian stock markets ended in the green supported by slipping commodity prices.

The Nikkei ended higher by 1.2% while the Shanghai Composite advanced by 0.9%. Meanwhile, the Hang Seng jumped 2.1%.

European shares are trading on a firm note, as investor sentiment was lifted by an upbeat close on Wall Street.

Market sentiment is improving even as recession fears remain. UK PMI data yesterday showed that business activity held steady, but news orders slowed dramatically.

US stock futures are trading on a positive note with the Dow Futures trading up by 233 points.

The rupee is trading at 78.29 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 50,630 per 10 grams.

Speaking of gold, we have been seeing that gold prices are falling recently. But today the pattern has changed. The gold price is trading on a positive note.

But why is that? Will gold price rise or fall in inflation?

Find out how gold reacts to inflation in this video.

In news from the electric vehicle space, Greaves Electric Mobility has announced the completion of allotment of equity shares to Abdul Latif Jameel, a diversified global investor by way of preferential allotment through a private placement basis for a consideration of US$ 150 m.

The company has allotted 6.8 m equity shares of face value of Rs 10 each aggregating to 35.8% shareholding on a fully diluted basis.

Following the allotment, the company continues to be a subsidiary of Greaves Cotton and the resultant shareholding on a fully diluted basis is now at 61.4%.

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Greaves Electric Mobility manufactures electric two-wheelers under the brand name of Ampere Vehicles and electric three-wheeler vehicles under the brands Ele and Teja.

Greaves Electric Mobility has grown from a small base and currently posts annual revenue of more than US$ 100 m.

Over the last few years, the company focused on expanding its product offerings through acquisitions, and now it caters to the electric vehicle ecosystem in India.

Greaves Cotton share price ended 4.5% higher on the BSE today.

If you are interested in EV stocks, have a look at the top EV stocks in India and the EV penny stocks in India.

Speaking of EVs, have a look at the chart below which shows the massive opportunity in the two-wheeler EVs.

chart

Here's what lead Smallcap Analyst at Equitymaster, Richa Agarwal wrote about this in one of the editions of Profit Hunter:

  • In the last five years, two-wheeler sales in India were around 2 crore units per year. Now the sector is cyclical and has been in the downturn for some time. So let's consider a moderate 5% growth for the next 10 years.

    By 2030, we are looking at 2-wheeler sales of 3 crore units. Even if one third of this is EV sales, that's 1 crore electric 2-wheelers per year.

    In the last 2 years, average electric 2-wheeler sales were 1.5 lakh units. From 1.5 lakh to 1 crore, that's a 66x opportunity in 2-wheeler EVs.

    This is an annual growth rate of 52% over next 10 years. It's an almost vertical growth opportunity.

As per Richa, this is like a gold rush. But like in any gold rush, the winners will just be a few.

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Moving on to news from the commodity space, commodity prices showed signs of settling down as copper, a metal that has applications across industries and construction activities, saw its sharpest weekly fall since the pandemic-induced jolt to economic activity in March 2020.

The commercial metal slid 3% in Shanghai and 7% for the week.

Food and oil input prices, which have majorly contributed to the inflation basket have also cooled off in the last week.

According to a leading financial news agency, factory activity across the US, UK, Japan, and the eurozone showed signs of an economic slowdown or a recession with US factories reporting a drop in orders for the first time in two years.

A relaxation in global commodity prices has helped global stock market indices escape the bear's grip.

Note that metal stocks have fallen over 50% from their peaks this year on the back of rising commodity prices.

Tata Steel, one of the multibagger stocks of 2021, is down around 55% from its peak.

It remains to be seen what the rest of the year has in store for metal stocks.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


Sensex Gains 500 Points, Nifty Tops 15,700; IndusInd Bank, HUL & Bharti Airtel Top Gainers
10:30 am

Sensex Gains 500 Points, Nifty Tops 15,700; IndusInd Bank, HUL & Bharti Airtel Top Gainers

Asian share markets are trading on a positive note today following a rally on Wall street indices. Investors finally weighed the risk of inflation and recession.

The Nikkei is up 0.7% while the Hang Seng is up 1.7%. The Shanghai Composite is up 0.3%.

In US stock markets, Wall Street indices ended on a positive note on Thursday, as treasury yields fell to two-week lows.

The Dow Jones rose 0.6% while the tech heavy Nasdaq added 1.6%.

Back home, Indian share markets are trading on a firm note.

Benchmark indices opened in green following the trend on SGX Nifty and extended gains as the session progressed.

FII & DII data is widely tracked as FIIs continue to offload Indian shares.

At present, the BSE Sensex is trading up by 488 points. Meanwhile, the NSE Nifty is trading higher by 157 points.

HUL and Bharti Airtel are among the top gainers today.

Tech Mahindra and Asian Paints are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 1.1%. The BSE Small Cap index is trading higher by 1.1%.

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Sectoral indices are trading in the green with the exception for IT sector. Stocks in the FMCG sector and auto sector are witnessing most of the buying.

Vedanta share price is trading up by 1.5%. Shares of the mining company have fallen lately following the company's plant sale.

In the commodity markets, gold price finally breaks the pattern. Today, prices are up by Rs 137, trading at Rs 50,731 per 10 grams.

Meanwhile, silver prices are trading higher at Rs 59,972 per kg.

Crude oil prices rose slightly in early Asian trade as nations seeks to address global crude oil and fuel supply tightness

Crypto investors are finally breathing a sigh of relief as the markets trade on a positive note. Bitcoin finally moves above US $ 20,000.

The rise was much needed for investors in crypto markets, because they were not having a good night's sleep these days as coins continued to tumble in the face of a global market selloff and rising interest rates.

Many crypto exchanges have paused bitcoin withdrawals which lead to a sharp fall in the entire crypto market.

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We have been seeing that gold prices are falling recently. But today the pattern has changed. The gold price is trading on a positive note.

But why is that? Will gold price rise or fall in inflation?

Find out how gold reacts to inflation in this video.

In news from the power sector, let us take a look at rising prices of Tata Power.

Tata Power share price was continuously falling since the beginning of June.


However, the fall seemed like a temporary blip.

But the trend has changed. Tata Power share price has started rising from 21 June 2022.

Tata Power has kicked off an ambitious nation-wide plan of setting up electric vehicle (EV) charging stations from North to South, connecting Kashmir to Kanyakumari and from East to West, from Guwahati to Dwarka and Bikaner over next the next 3-5 years.

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The move is part of the company's transformation programme, Tata Power 2.0, which focuses on customer centricity, sustainability, digital so as to become the 'utility of the future' said CEO Praveer Sinha.

Tata Power has tied up with OEMs like Tata Motors under which home charger solution is provided to each of the vehicle owner, as part of the vehicle purchase and nearly 15,000 home chargers have been provided.

In addition to this, nearly 2,000 plus public chargers are provided in nearly 170 cities including highways between cities so as to provide flexibility to users to top up their charging, as and when required.

In addition to this fleet charging facility is being provided along with captive charging for public transportation and buses at their depot.

All these plans pose huge growth opportunities but will the plans actually transform into profitable actions? Only time will tell.

To know more about Tata Power, check out Tata Power's 2021-22 annual report analysis.

Now let us take a look at a PSU that has big news to share with its shareholders.

ONGC Videsh (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation (ONGC) has made an oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia.

The well was spudded on 20 April 2022 and drilled to target depth of 10,956 feet, encountering 17 feet thick oil-bearing sands at a depth from 10201-10218 feet, said a company statement.

It said:

  • During initial testing with Electrical Submersible Pump (ESP), fluid flowed at approximately 600 barrels/day with around 40-50% W/C and oil of 16o API. Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block.

ONGC Videsh has earlier discovered commercial oil in the Lower Sand play in Mariposa and Indico fields in the block in 2017 and 2018 respectively, which are currently commercially producing 20,000 barrel oil per day.

Block CPO-5 was awarded to ONGC Videsh Limited in the 2008 bid round of Colombia. ONGC Videsh holds 70% participating interest in the block along with operatorship, remaining 30% is held by partner Geopark.

ONGC Videsh has a significant presence in oil and gas sector in Colombia, with three other exploratory blocks in the country and joint ownership of the oil producing company Mansarovar Energy Colombia Ltd (MECL).

Following the news, ONGC's share price opened on a positive note today.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.


SGX Nifty Up 106 Points, Reliance Industries' Green Hydrogen Push, Titan Eyes Strong Growth, and Top Buzzing Stocks Today
Pre-Open

On Thursday, Indian share markets witnessed a volatile session as benchmark indices swung between gains and losses.

Benchmark indices ended on a firm note as a fall in crude oil prices boosted domestic sentiment.

At the closing bell on Thursday, the BSE Sensex climbed 443 points (up 0.9%).

Meanwhile, the NSE Nifty ended higher by 143 points (up 0.9%).

Maruti Suzuki, M&M, and Asian Paints were among the top gainers.

Reliance Industries, Power Grid, and NTPC, on the other hand, were among the top losers.

HDFC AMC share price is down over 38% in the past year. In a recent move, popular fund manager Saurabh Mukherjea has exited his position in HDFC AMC.

The broader markets also ended on a firm note. The BSE MidCap index and the BSE SmallCap index ended higher by 1.4% and 1.2% respectively.

Barring energy sector, all sectoral indices ended in green with stocks in the auto sector, IT sector, and realty sector witnessing most of the buying.

As Indian share markets seem to be recovering, you must be wondering when will the markets fully recover.

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In this uncertainty, check out these 5 consistent compounding stocks that are available at discount.

As you know, IT stocks have taken a strong beating in the current calendar year. So be prepared on what may come next. Read about what the massive selloff in US tech stocks teaches us about investing.

Also, check out this stock we call as the greatest dividend stock of all time. This IT company's dividend growth rate has beaten Nifty's 20 year annual returns.

Gold prices for the latest contract on MCX were trading down by 0.3% at Rs 50,733 per 10 grams at the time of Indian market closing hours yesterday.

At 7:30 AM today, the SGX Nifty was trading up by 106 points or 0.7% higher at 15,670 levels.

Indian share markets are headed for a gap-up opening today following the trend on SGX Nifty.

Speaking of stock markets, Chartist Brijesh Bhatia discusses why it might be a good time to invest in realty stocks, in his latest video for Fast Profits Daily.

Brijesh believes the realty sector offers an excellent opportunity for investors looking at a three to five year time frame.

With the help of charts, Brijesh answers why and much more in the below video. Tune in to find out:

Top Buzzing Stocks Today

Titan share price will be among the top buzzing stocks today.

The company announced that its women's ethnic wear brand Taneira is eyeing about two-fold growth in revenue at Rs 3 bn in the current fiscal year, and Rs 10 bn by financial year 2027.

Note that Titan share price has been falling and is down close to 20% in 2022 so far.

Hindustan Zinc share price will also be in focus today.

The central government has decided to fast track Hindustan Zinc's offer for sale and is planning to appoint the transaction advisors soon.

The company has an exceptionally high dividend yield, but are dividend yield funds worth your money?

Market participants will also track shares of Route Mobile.

A meeting of the Board of Directors is scheduled to be held on 28 June, to consider a proposal for buyback of fully paid up equity shares of the company.

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Vodafone Idea delays AGR due payments

Vodafone Idea said that it will delay the payment of AGR dues amounting to Rs 88.4 bn by 4 years, after the Department of Telecommunications, offered the option to do so.

In a stock exchange filing, the cash strapped company said it will pay the final amount in six annual payments post moratorium period starting from 31 March 2026.

In October last year, the company was offered the option to defer AGR related dues upto the financial year 2017, as determined by the supreme court in the AGR case.

Acrysil doubles supply to IKEA

Acrysil has announced that it is doubling its supply of quartz kitchen sinks to IKEA supply AG, which is a part of international IKEA Group Sweden catering to their global requirement.

The production of kitchen sinks for IKEA will start at the end of July and the supply will begin in August.

Acrysil, a smallcap company, operates in the building materials sector and has a market cap of Rs 14.5 bn.

To know more about the company, check out Acrysil's financial factsheet and its latest quarterly results.

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Reliance seeks new technology for green hydrogen

Reliance Industries is assessing new technologies for making electrolyzers in its efforts to produce low-cost green hydrogen in the country.

Kapil Maheshwari, president for new energy at Reliance said:

    As part of the push, the company also plans to bid for any production-linked incentives the government may offer to encourage the technology.

Prime Minister Narendra Modi's government unveiled the first phase of its green hydrogen policy in February, offering a range of incentives for companies to set up projects.

Reliance Industries and Adani group have together pledged more than US$ 140 bn in green investments, as their fossil fuel-driven business pivot away from oil and coal.

To cut down expenses and reduce dependency on coal and oil, sustainable sources of energy like green hydrogen will become more of a necessity than a choice in the near future.

According to Co-head of Research at Equitymaster Tanushree Banerjee, green hydrogen is the key to electric vehicle (EV) riches.

Watch the below video to know why:

To know what's moving the Indian stock markets today, check out the most recent share market updates here.