SGX Nifty Down 94 Points | ICICI Lombard Q3 Results | Hindustan Zinc Board Meet | Top Buzzing Stocks Today

Thu, 19 Jan Pre-Open

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On Wednesday, Indian share markets extended gains as the session progressed and ended on a firm note.

Benchmark indices climbed as investor sentiment was boosted by foreign investors turning net buyers of domestic shares, following their longest selling streak in the past six months.

At the closing bell on Wednesday, the BSE Sensex stood lower by 390 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 112 points (up 0.6%).

Hindalco, Tata Steel, and L&T were among the top gainers.

Tata Motors, HDFC Life, and Adani Enterprise on the other hand, were among the top losers.

Broader markets settled on a negative note yesterday. The BSE Midcap ended 0.5% higher, while BSE SmallCap index ended 0.2% higher.

Sectoral indices ended on mixed note with stocks in the power sector and realty sector witnessing heavy selling pressure.

While stocks in metal sector, telecom sector, and finance sector witnessed buying.

Shares of L&T, IDFC, and Swan Energy hit their 52-week highs.

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

The rupee was trading at 81.3 against the US$.

Gold prices for the latest contract on MCX were trading flat at Rs 56,380 per 10 grams at the time of Indian market closing hours, yesterday.

At 7:40 AM today, the SGX Nifty was trading down by 94 points or 0.5% lower at 18,130 levels.

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

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.

Top Buzzing Stocks Today

Landmark Cars share price will be in focus today.

On Wednesday the car retailer company gave its quarterly business update. The company said it recorded a strong 41.3% growth in total revenue from operations at Rs 33.8 bn (about Rs 3,384 crore) for the nine months ended December 2022.

Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It debuted on the bourses recently on 23 December 2022.

ICICI Lombard will also be in focus.

Yesterday, ICICI Lombard declared its quarterly financial results. The company reported a disappointing set of earnings for the third quarter of financial year 2022-23.

The insurer reported a 9% increase in underwriting losses in the period under review to Rs 2.9 bn. Meanwhile, the company's net profit for Q3 of the current financial year increased by 11% year-on-year (YoY) to Rs 3.5 bn, aided by a healthy rise in gross premiums underwritten.

Shree Pushkar Chemical and Fertilisers Q3 results

The chemicals and fertiliser company reported a 58.6% year-on-year (YoY) decline in consolidated profit at Rs 51.2 m for the third quarter, largely hit by weak operating performance.

Consolidated revenue from operations for the quarter grew by 12% YoY to Rs 1,536.7 m supported by the chemical business.

Total volumes for the quarter fell 11% YoY to 44,908 metric tonnes (MT) with the fertiliser segment reporting a 13% YoY decline at 42,537 MT though chemical business volumes grew 30% to 2,371 MT.

Shree Pushkar Chemcal and Fertliser is mainly engaged in the manufacturing of dyestuff, dye intermediaries, fertilisers, sulphuric acid, oleum, chloro sulphonic acid, and di-calcium phosphate, catering to textile, agriculture and cattle & poultry feed industries.

Gold prices fall

Yesterday, gold prices in India fell for second day in a row after hitting record high earlier this week. On MCX, bullion futures fell 0.3% to Rs 56,163 per 10 gram.

On Monday, the precious metal had hit a high of Rs 56,562 tracking firm global rates. Silver futures in Indian market yesterday was flat at Rs 69,221 per kg.

In global markets, gold dipped 0.3% to US $1,902.8 per ounce, pressured by a stronger US dollar which tends to make gold more expensive for buyers holding other currencies.

The dollar index yesterday was up 0.25% to 102.4. The Japanese yen tumbled and bonds notched their biggest rally in two decades, yesterday after the country's central bank stuck to its ultra-easy monetary policy, defying expectations that it would start phasing out its massive stimulus programme.

Investors will keep an eye out for the US producer price index (PPI) and retail sales data that was due yesterday. The US central bank raised rates by 75 basis points (bps) four times last year, before slowing to a 50-bp increase in December.

Traders are mostly pricing in a 25 bps hike at the Fed's next policy meeting. Lower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset.

To know more about how gold and silver prices will move in 2023 read our editorial on: gold and silver outlook in 2023.

Mutual funds increase stake in this smallcap company

As per the Quant Mutual Fund shareholding after the end of December 2022, the mutual fund has added 18 fresh stocks in its portfolio and this small-cap stock is one of them.

The asset management company (AMC) has bought 5,52,774 shares of Apollo Micro Systems, which is around 2.7% of net paid up capital of the listed stock. Apollo Micro Systems shares held by Quant Mutual Fund are to the tune of 0.1% of total asset under management of the mutual fund.

In last one month, this small-cap stock has surged 25% whereas in last six months, this multibagger stock has ascended from around Rs 134 to Rs 334, logging around 150% rise in this period.

In last one year, this small-cap stock has surged from around Rs 155 to Rs 334, clocking near 115% rise in this time.

Since you are interested in mutual fund trading activities, you might also be interested in our editorial on: top 5 stocks mutual funds bought and sold in December 2022.

Hindustan Zinc board meeting

Vedanta group firm Hindustan Zinc's board will meet today to consider the third interim dividend of equity shares, if any.

The company did inform earlier that the record date for eligibility of third interim dividend, if any, so declared will be Monday, 30 January 2023.

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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