Indian Stock Market News, Equity Market and Sensex Today in India

Share markets idled in Asia today as investors braced for a week littered with 13 central bank meetings that are certain to see borrowing costs rise across the globe and some risk of a super-sized hike in the US.

The Nikkei fell by 1.1% while the Hang Seng was down 0.5%. The Shanghai Composite is trading higher by 0.2%.

US stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors’ flight to safety at the conclusion of a tumultuous week.

The Dow Jones fell by 0.5% while the tech heavy Nasdaq ended lower by 0.9%.

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

Benchmark indices opened on positive note today following the trend on SGX Nifty. As the session progressed, gains were extended.

At present, the BSE Sensex is trading higher by 367 points. Meanwhile, the NSE Nifty is trading up by 114 points.

M&M and Bajaj Finserv are among the top gainers today.

UltraTech Cement 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 0.1% while the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a positive note today with the exception of telecom, metal and consumer durable sectors.

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Stocks in the banking sector and oil and gas sector are witnessing most of the buying. Among the best bank stocks in India, HDFC Bank and ICICI Bank are up a percent each.

Gujarat Fluorochemicals and Thermax hit their 52-week high today.

Since you’re interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

In the commodity markets, gold prices fall. Today, gold prices are trading lower by Rs 150. Currently, gold prices are trading at Rs 49,230 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading higher at Rs 56,826 per kg. Silver prices too have fallen a lot in recent days.

The rupee is trading at 79.6s against the US dollar.

After getting a bird’s eye view of the market, do you want to get a full analysis on how the markets will perform today? You know how the market started but do you want to know how the markets will close today?

In the below video, Brijesh Bhatia does a complete analysis of today’s market.

In news from power sector, Tata Power’s joint venture company, Resurgent Power Ventures acquires South East UP Power Transmission.

South East UP Power Transmission has stepped out of bankruptcy with Resurgent Power Ventures buying the firm under the insolvency resolution process.

The transaction comprises repayment of debt to creditors and purchase of shares for a total consideration of Rs 32.5 bn as well as payout of South East UP Power Transmission Company’s cash balance.

This comes after the resolution professional had selected Resurgent as a successful applicant in March.

Set up in 2016 to acquire stressed assets in the power sector, Resurgent is a private equity joint venture of Tata Power (26%), ICICI Venture (10%), and global investors (64%).

South East UP Power Transmission Company was incorporated as a special purpose vehicle by UP Power Transmission in 2009 to implement and operate an intra-state transmission system for 35 years under the public-private partnership model.

It has about 1,500 kilometre of transmission line and five substations.

The Tata group company Tata Power is trading 0.5% lower today.

Speaking of the Tata group, there is one Tata group stock that has delivered more than 800% gains in three years.

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Further in news from the automobile sector, Maruti Suzuki to recall its vehicles.

Maruti Suzuki India said that the company has announced to recall 5,002 super carry vehicles manufactured between 4 May 2022 and 30 July 2022.

The auto maker said that the recall is being undertaken for inspection and torquing of a bolt attached to seat belt buckle bracket of co-driver seat. It is suspected that there is a possible defect in bolt torquing, which in a rare case, may loosen in the long run.

The company’s net profit jumped 129.8% to Rs 10.1 bn on 50.5% rise in net sales to Rs 252.8 bn in Q1 of the financial year 2022-23 over Q1 of the financial year 2021-22.

Note that auto stocks are rising and Maruti Suzuki is no exception. It is currently trading near its 52-week high levels on renewed optimism for the sector.

Moving on to the news from the insurance sector, HDFC Life Insurance gets approval for merger.

The National Company Law Tribunal (NCLT) on Friday approved the merger of Exide Life Insurance with HDFC Life Insurance.

Earlier this year, HDFC Life had announced acquisition of 100% stake in Exide Life from its parent Exide Industries after issuing over 870 m shares at an issue price of Rs 685 and a cash payout of Rs 7.26 bn, aggregating to Rs 66.9 bn.

Exide Industries now holds 4.1% stake in HDFC Life.

The Scheme of Amalgamation is subject to the final approval of the Insurance Regulatory and Development Authority of India (IRDAI).

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,

Read the latest Market Commentary

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

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( With inputs from equitymaster)