SGX Nifty Down 36 Points | Why Tyre Stocks are Rising | Bharat Forge to Manufacture Aircraft | Top Buzzing Stocks Today

Fri, 6 Jan Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Thursday, Indian share market extended losses as the session progressed and ended deep in the red.

Indian shares struggled for direction on Thursday as investors digested the Federal Reserve agreement for a slower pace of rate hikes, while the continued slide in oil prices helped cap losses.

At the closing bell on Thursday, the BSE Sensex stood lower by 304 points (down 0.5%).

Meanwhile, the NSE Nifty lower by 51 points (down 0.3%).

Hero Motocorp, Cipla, NTPC were among the top gainers.

Bajaj Finance, Bajaj Finserv, and ICICI Bank, on the other hand, were among the top losers.

Broader markets settled on a positive note. The BSE Midcap rose 0.3% while the BSE SmallCap index ended the day flat.

Sectoral indices ended on a mixed note with stocks in the energy sector, FMCG sector, and oil & gas sector witnessing most of the buying.

On the other hand, stocks from the finance sector, banking sector, and IT sector witnessed selling pressure.

Shares of Abbott India, Apollo Tyres, and REC hit their 52-week high on Thursday.

The rupee was trading at 82.5 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.4% at Rs 55,567 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:00 AM today, the SGX Nifty was trading down by 36 points or 0.2% lower at 18,030 levels.

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

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.

Top Buzzing Stocks Today

Bharat Forge will be among the top buzzing stocks today.

In a major move to boost manufacturing in India, US-based General Atomics Aeronautical Systems and Bharat Forge announced a partnership to manufacture main landing gear components, subassemblies, and assemblies of remotely piloted aircraft.

Lupin will also be in focus today.

Global pharma major announced the launch of a novel fixed-dose triple drug combination (FDC) of Indacaterol, Glycopyrronium and Mometasone.

The FDC will help in the management of inadequately controlled asthma among patients. This product has been launched under the brand name DIFIZMA by the company.

Godrej Properties sells Rs 4.3 billion homes

Godrej Properties sold 870 homes worth Rs 4.4 bn in a phase of its township project in Ahmedabad.

The homes in the Celeste project in the Godrej Garden City township cover an area of over 1 million (m) square feet.

The project was launched in October 2022.

Covering about 2.3 hectares, Celeste has eight towers and offers homes and retail outlets of various configurations.

As part of the integrated offering, this phase comes with state-of-the-art amenities covering social, health, and leisure requirements.

Godrej Properties is a part of the business conglomerate Godrej Group is one of the leading real estate developers in the country.

It mainly focuses on four cities-Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru and Pune.

Godrej Properties has set a target of Rs 100 bn sales bookings for 2022-23 as against Rs 78.6 bn registered during the last fiscal year.

It has already clocked a 60% growth in sales bookings during the first half of this fiscal year at Rs 49.2 bn.

Recently, the company bought 9-acre land in Gurugram for around Rs 3 bn to develop a housing project.

Why tyre stocks are rising

Shares of tyre companies rallied up to 7% on Thursday's intra-day trade in an otherwise weak market.

Shares of Apollo tyres hit their 52-week high. While other tyre stocks, JK Tyre, and Balkrishna Industries, gaining up to 7%.

This rally was seen after key raw material components, crude oil, and rubber, fell to a multi-year low.

The price of natural rubber declined to a two-year low on weak demand and high inventory levels. They are now down 24% from their peak in April last year.

Domestic rubber prices are also down 22% from their peak in June 2022.

On the other hand, Crude oil prices have corrected over 10% in the last two trading sessions. Crude oil and natural rubber make up 70% of the raw material cost for tyre companies.

Rising volumes and a fall in key input prices have also aided a recovery in EBITDA margin for these tyre companies.

Rupee Climbs

The rupee gained 32 paise to close at 82.50 (provisional) against the US dollar on Thursday, supported by a weaker greenback overseas.

The factors like strong Asian peers and crude oil prices trading below US$ 80 per barrel also helped the currency to hedge high.

However, sustained foreign fund outflows and a weak trend in domestic equities dented investor sentiments.

At the interbank foreign exchange market, the local unit touched an intra-day high of 82.50 and a low of 82.80 against the greenback.

On Wednesday, the rupee recovered from its all-time low level and settled at 82.82 against the dollar.

The dollar index, which had risen sharply the previous evening, was down roughly 0.1%.

The rupee was falling for quite some time now, depreciating below 83 per dollar.

If you're looking for investing ideas, we suggest watching this video - How to Profit from a Rising US Dollar.

Also, read our recent pieces on how IT stocks benefit from a falling rupee and the 5 stocks that can gain from a falling rupee.

Oil heads higher

Oil prices rebounded on Thursday amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery.

Brent crude climbed 1% to US$ 78.6 a barrel, while US West Texas crude rose 1.15 to US$ 73.6 a barrel.

The declines in the previous two days were driven by worries about a potential global recession, especially since short-term economic signs in the world's two biggest oil consumers, the United States and China, appeared shaky. This decline has affected crude oil prices and crude oil stocks in India.

Brent and WTI cumulative declines of more than 9% on Tuesday and Wednesday were the biggest two-day losses at the start of a year since 1991.

The Chinese government increased export quotas for refined oil products in the first batch for 2023, signaling expectations of poor domestic demand.

Meanwhile, dollar weakness helped support oil prices since it typically boosts demand as dollar-denominated commodities become cheaper for holders of other currencies.

To know what's moving the Indian stock markets, 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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers