Sensex Today Trades Marginally Lower | Banking Stocks Under Pressure | Bajaj Twins, Power Grid & IndusInd Bank Top Losers

Thu, 5 Jan 10:30 am

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Asian share markets rose today on investor hopes for China's emergence from the Covid-19 pandemic, while the dollar stayed under pressure even as the US Federal Reserve had a warning against market bets on interest rate cuts this year.

The Nikkei is trading up by 0.3% while the Hang Seng was up by 1%. The Shanghai Composite is trading higher by 0.9%.

The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve's last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace.

The Dow Jones ended higher by 0.4% while the tech heavy Nasdaq Composite ended higher by 0.7%

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	88.71	-0.99	-1.10%	91.24	87.8	152.1	83.45
Apple	126.36	1.29	1.03%	128.66	125.08	180.17	124.17
Meta	127.37	2.63	2.11%	129.05	125.85	339.17	88.09
Tesla	113.64	5.54	5.12%	114.59	107.52	402.67	104.64
Netflix	309.41	14.46	4.90%	311.14	295.51	592.84	162.71
Amazon	85.14	-0.68	-0.79%	86.98	83.36	171.4	81.69
Microsoft	229.1	-10.48	-4.37%	232.87	225.96	326.07	213.43
Dow Jones	33,269.77	133.4	0.40%	33,409.10	33,033.48	36,952.65	28,660.94
Nasdaq	10,914.80	52.16	0.48%	10,981.46	10,785.53	16,764.86	10,440.64

Source: Equitymaster

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

Benchmark indices opened in the green but extended marginal losses as the session progressed.

At present, the BSE Sensex is trading lower by 13 points. Meanwhile, the NSE Nifty is trading lower by 3 points.

ITC, NTPC, and Nestle are among the top gainers today. Bajaj Twins and Power Grid are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading lower by 0.1% and the BSE Small Cap index is trading lower by 0.2%.

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

Meanwhile stocks in the banking sector and finance sector witness selling.

The rupee is trading at Rs 82.8 against the US dollar.

In the commodity markets, gold prices trade higher by Rs 55 at Rs 55,822 per 10 grams.

Meanwhile, silver prices are trading higher by 0.1% at Rs 69,240 per 1 kg.

Speaking of stock markets, off late pharma stocks are rising.

Traders have jumped on the bandwagon and are buying pharma stocks in the same way they were buying PSU stocks a few weeks ago.

But does this rally have legs? How high can pharma stocks rise? In this video, chartist Brijesh Bhatia answers these questions with the help of his charts.

Marico expects muted results for the December 2022 quarter

FMCG major Marico on Wednesday said that the firm's consolidated revenue will be in low single digit for the December quarter on a year-on-year basis due to a muted recovery in rural demand amid elevated inflation.

Marico noted that FMCG sector witnessed some improvement in demand in the quarter which was more visible in specific categories due to festive fervour and oncoming winter season.

Speaking of FMCG companies it would be impossible not to mention the very popular HUL.

There's some very interesting data on the stock. Between 2002 to 2010, HUL's stock price went nowhere...have a look at the chart below:

The stock was basically in an 8 year coma. The returns could barely even make up for the inflation.

However, over the 2010 to 2020 period, HUL delivered a whopping return of 30% CAGR!

Back in November 2020, Rahul Shah had recorded a video on why you should skip stocks like Nestle and HUL.

In the video, Rahul Shah discussed why he preferred a little known stock over HUL and how he was proven right.

You can watch the video here: Don't Let Brokerages Fool You into Buying HUL & Nestle. The Real Money is in These Stocks Right Now...

Bajaj Finance records highest ever loan booking for the quarter

Consumer financier Bajaj Finance on Wednesday said that new loans booked by it in October-December quarter of of the financial year 2023 were the highest ever at 7.8 million (m), up 5.4% from the year-ago period.

The company has also recorded its highest ever quarterly increase in customer franchises at 3.1 m. The customer franchises of the finance company stood at 66 m as of December 2022, compared to 55.4 m in the year-ago period.

Its asset under management (AUM) jumped 27% year on year to Rs 2.3 trillion (tn) from 1.8 tn reported in a year ago period. The firm's AUM went up by approximately about Rs 127.5 bn in the reporting quarter.

In its quarter three business update, the company said its liquidity position remains strong. Further, its capital adequacy ratio (CRAR) stands at 25.1%.

Its deposit book has also swelled to Rs 430 bn as of December 2022, up 41% on a YoY basis.

Centre Approves investments in hydro power project

The government on Wednesday approved Rs 26.1 bn investment for the 382 mega-watt (MW) Sunni Dam Hydro Electric Project by state-owned SJVN in Himachal Pradesh.

The project cost of Rs 26.1 bn includes hard costs amounting to Rs 22.5 bn, interest during construction (IDC) and financing charges (FC) of Rs 3.6 bn and 91.5 m, respectively.

The revised cost sanctions for cost variations due to quantity changes and time overruns due to the developer will be capped at 10% of the sanctioned cost.

The implementation of the project is expected to generate direct and indirect employment for about 4,000 people during the peak construction of the project.

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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