Sensex Today Rises 200 Points | IT & Metal Stocks Lead Gains | Tata Steel, HDFC Bank, Wipro Top Gainers

Wed, 18 Jan 10:30 am

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Asian share markets are mixed today as investors anxiously awaited a pivotal Bank of Japan (BOJ) meeting that could see the world's third largest economy shift away from decades of ultra-low interest rates.

The Nikkei is trading up by 2.4% while the Hang Seng is down 0.1%. The Shanghai Composite is trading on a flat note.

In US stock markets, Wall Street's main indices fell yesterday. The Dow Jones fell more than 1% as weak earnings from Goldman Sachs dragged the index lower, but a jump in Tesla shares helped the Nasdaq stay in the positive zone.

The Dow Jones fell 1.1% while the tech heavy Nasdaq ended higher by 0.1%.

Here's a table showing how US stocks performed yesterday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	92.16	-0.64	-0.69%	92.97	90.84	152.1	83.45
Apple	135.94	1.18	0.88%	137.29	134.13	179.61	124.17
Meta	135.36	-1.62	-1.18%	136.75	134.25	328	88.09
Tesla	131.49	9.09	7.43%	131.7	125.02	384.29	101.81
Netflix	326.22	-6.6	-1.98%	332.5	323.6	526.64	162.71
Amazon	96.05	-2.07	-2.11%	98.89	95.73	170.83	81.43
Microsoft	240.35	1.12	0.47%	240.91	237.09	315.95	213.43
Dow Jones	33,910.85	-391.76	-1.14%	34,269.97	33,860.67	35,996.43	28,660.94
Nasdaq	11,557.19	15.7	0.14%	11,615.95	11,484.02	15,990.38	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a positive note, following the trend on SGX Nifty.

Benchmark indices opened on a positive note and extended gains as session progressed.

At present, the BSE Sensex is trading higher by 243 points. Meanwhile, the NSE Nifty is trading higher by 65 points.

Tata Steel, HDFC Bank, and Wipro are among the top gainers today.

Tata Motors, M&M, and UltraTech Cement are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher by 0.2% and BSE Small Cap index is trading up by 0.3%.

Sectoral indices are trading on a mixed note with stocks in the metal sector, finance sector, and banking sector witnessing buying.

While auto and power stocks are trading on a negative note.

Shares of L&T, and Edelweiss Financial hit their 52 week high today.

The rupee is trading at Rs 81.8 against the US dollar.

In the commodity markets, gold prices trade lower by Rs 105 at Rs 56,247 per 10 grams.

Meanwhile, silver prices are trading higher by 0.1% at Rs 69,252 per 1 kg.

Speaking of stock markets, Yazad Pavri talks about a corporate business group set to grow by leaps and bounds, in his latest video.

This business group seems to be in a much better position than ever before and is now at an inflection point. In a way, one could compare it to where the Tata group was in 2017 when Chandrasekaran took over the reins to head the conglomerate.

Tune in to the below video to know more.

ITC to acquire Yoga Bar

In news from the FMCG sector, cigarette-to-hotel conglomerate ITC on Tuesday announced plans to acquire direct to consumer (D2C) health food brand Yoga Bar, a health snack company based in Bengaluru.

The FMCG major will acquire 100% of Sproutlife Foods (SFPL) over a period of three to four years.

The company will initially buy 39.4% stake for Rs 1.7 billion (bn). Further infusion of Rs 800 million (m) for a total 47.5% stake will be done by 31 March 2025.

The remaining stake will be acquired on a pre-defined valuation criteria basis, subject to other conditions agreed to in the binding documents.

Sproutlife is a start-up engaged in the business of manufacturing and selling food products under the trademark 'Yoga Bar'. Positioned as a digital first brand, Yoga Bar currently has high salience of on-line sales (D2C, e-commerce platforms etc.) with growing presence in offline stores.

Yoga Bar's turnover was Rs 680 m for the financial year 2021-22. It has a market size of Rs 450 bn.

Speaking of FMCG stocks, according to data available on NSDL, after pharma stocks, FMCG stocks saw the biggest inflows of Rs 165.7 billion in the first three quarters of the current fiscal.

It seems 2023 has brought a new hope for FMCG companies...

Even on technical charts, the index has broken out of the bullish pattern.

 

On a 4hours or 240mins chart of the Nifty FMCG Index, the bullish dragon harmonic pattern is visible with the breakout at 44,450.

Chartist Brijesh Bhatia explains more about this in his latest editorial: technical indicators suggest momentum for FMCG Stocks. Key levels to watch...

Sundaram Fasteners bags a new order

Sundaram Fasteners, one of the largest suppliers to original equipment manufacturers (OEMs) and automakers globally, has won the biggest contract in its 60-year history.

The Chennai-based company has been awarded a US$ 250 m (about Rs 2,043.3 crore) contract by a leading global automobile manufacturer for the supply of sub-assemblies for its electric vehicle (EV) platform.

The deal is one of the largest won by a supplier in India for this range of products for an EV platform, the company claimed.

The company plans to invest Rs 2 bn to support the new orders under the six-year long purchase package involving the supply of input and stator shaft sub-assemblies and drive gear sub-assemblies.

Sundaram Fasteners will ship the parts from its powertrain divisions located at Mahindra World City in Chengalpattu, Tamil Nadu, and Sri City in Tirupati district, Andhra Pradesh. The parts will be serviced from its warehouse in North America.

The launch of the new vehicles is planned from the North America platform in 2024.

Note that the?electric vehicle (EV) megatrend?is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and?India's top EV stocks?are set to benefit from this shift.

Jio rolls out 5G services in 16 more cities

Expanding its connectivity further, Reliance Jio launched its 5G services in 16 more cities across seven states on 17 January.

With this, Reliance Jio has become the first and the only operator to launch 5G services in majority of these cities.

Jio users in these cities will be invited to the Jio Welcome Offer, to experience unlimited data at up to 1 Gb per second+ speeds, at no additional cost, starting today.

Among gradual 5G service launches across the country, Jio had recently announced its connectivity services in Chhattisgarh, Bihar, and Jharkhand on the occasion of Makar Sankranti.

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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