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

On Tuesday, Indian share markets ended on a negative note ahead of earnings report from several large-cap companies, with investors also bracing for a likely sharp interest rate hike in the United States this week.

Benchmark indices ended lower in the volatile session as heavyweight technology stocks dragged.

At the closing bell on Tuesday, the BSE Sensex stood lower by 498 points (down 0.9%).

Meanwhile, the NSE Nifty closed lower by 147 points (down 0.9%).

Bajaj Finserv, Power Grid, and Bharti Airtel were among the top gainers.

Infosys, HUL, and Axis Bank, on the other hand, were among the top losers.

Bajaj Finserv was the top buzzing stock yesterday as it announced to consider a bonus issue and stock split this week.

Tata Steel was also in focus as it will undergo stock split this week.

The broader markets ended on a weak note. Both, the BSE MidCap and the BSE SmallCap index ended lower by 1.2%.

All sectoral indices ended on a weak note yesterday with stocks in the IT sector, auto sector, banking sector, and capital goods sector witnessing most of the selling.

At 8:20 AM today, the SGX Nifty was trading down by 16 points or 0.1% lower at 16,460 levels.

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

Shares of ITC and Adani Enterprises hit their 52-week highs.

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Reliance Industries, Bajaj Finserv, and Tata Steel were amongst the most active shares on the BSE yesterday.

If you’re interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Restricting the fall in rupee, it is trading at 79.75 against the US$, at the time of Indian market closing hours yesterday.

As the rupee depreciates, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,567 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX were trading up by 0.2% at Rs 54,537 per 1 kg, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn’t far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

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Top Buzzing Stocks Today

Tata Power share price will be among the top buzzing stocks today.

The Competition Commission of India (CCI) has approved stake acquisition in Tata Power-backed renewable energy subsidiary, Tata Power Renewable Energy by BlackRock Real Assets-led consortium, including Mubadala Investment Company.

In April this year, Tata Power entered into an agreement where Blackrock and Mubadala will pump in Rs 40 bn for a 10.53% stake in Tata Power Renewables.

The investment translates into a base equity valuation of Rs 340 bn and the final shareholding will range from 9.76% to 11.43% on final conversion.

Tata Power plans to utilise the funds for the growth of its renewable energy business.

Over the next five years, Tata Power Renewables aims to achieve a portfolio of over 20 GW of renewables assets and a market-leading position in the rooftop and electric vehicle charging space across India.

Tata Power also reported its Q1 results. The company posted 103.2% rise in its consolidated net profit at Rs 7.9 bn in the June 2022 quarter, mainly on the back of higher revenues.

To know more, check out Tata Power’s latest news and analysis.

Axis Bank share price will also be in focus today.

The Axis Bank’s acquisition of Citibank’s consumer businesses has taken one step closer to reality as the CCI granted its approval to the Rs 123.3 bn deal.

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Citibank’s consumer businesses include covering loans, credit cards, wealth management, and retail banking operations in India.

Through the acquisition, Axis Bank will gain access to the large and affluent customer franchise of Citibank having a bouquet of fee-oriented and profitable segments.

These segments include a quality credit card portfolio, affluent wealth management clientele, meaningful deposits along with a strong consumer lending portfolio.

Axis Bank entered into an agreement to acquire Citibank’s consumer businesses in March this year.

To know more, check out Axis Bank’s latest news and analysis.

Market participants will also track shares of Bajaj Finance, Tata Motors, and Maruti Suzuki as these companies are set to announce their Q1 results later today.

Adani Group AGM

Speaking at the group’s annual shareholders meeting, Gautam Adani said the group is investing US$ 70 bn in a new energy business that will turn India from net importer of oil, to an exporter of green hydrogen.

According to Adani, Green Hydrogen is the fuel of the future.

He also mentioned that Adani Group is now the largest airport operator in the country and has forayed into cement business with the acquisition of Holcim.

The group has made entries in sectors ranging from data center, digital super apps, and industrial clouds, to defence & aerospace, metals & materials-aligned with government’s vision of Atmanirbhar Bharat.

Take a look at 5 growth sectors that the Adani group is investing in.

The combined group market capitalisation this year exceeded US$ 200 bn.

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L&T Q1 results

Larsen & Toubro reported 45% year-on-year (YoY) growth in consolidated net profit at Rs 17 bn for the June 2022 quarter. On a sequential basis, the profit declined 53%.

The company’s revenue rose 22% to Rs 358.5 bn in the quarter under review as compared to Rs 293.4 bn in June 2021 quarter.

International revenues during the quarter, at Rs 132.4 bn, constitute 37% of the total revenue.

The annual growth was aided by improvement in core EPC revenues driven by improved construction activity and strong execution across projects.

As on 30 June 2022, the consolidated order book of the group is at a record Rs 3.63 tn, with international orders having a share of 28%.

To know more, check out L&T’s latest news and analysis.

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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)