Sensex Today Falls 187 Points | FMCG Stocks Witness Selling | Adani Green Energy Slips 6%

Thu, 19 Jan Closing

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After opening the day on a negative note, Indian share markets continued their downtrend throughout the session and ended lower.

Benchmark indices edged lower to snap two-day winning streak, as global mood turned sour after weaker-than-expected US economic data.

At the closing bell, the BSE Sensex stood lower by 187 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 58 points (down 0.3%).

Coal India, UPL, and ONGC were among the top gainers today.

Adani Enterprises, Asian Paints, and Tata Motors on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,114, down by 109 points, at the time of writing.

Broader markets settled on a negative note. The BSE Midcap ended flat while the BSE SmallCap index ended 0.2% lower.

If you're looking to midcap stocks that offer growth in the long run, check out the 5 midcap stocks for long term.

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

While stocks in realty sector, and metal sector witnessed buying.

Shares of L&T, APL Apollo Tubes, and Hindustan Zinc hit their 52-week highs today.

Asian share markets ended the day on a mixed note.

The Hang Seng ended 0.1% lower, while the Shanghai Composite index ended 0.5% higher. The Nikkei fell 1.4%.

US stock futures are trading on a negative note. Dow futures and Nasdaq futures are trading lower by 0.4%.

The rupee is trading at 81.36 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 56,330 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.4% at Rs 67,940 per kg.

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Asian Paints Q3 results

In news from the paint sector, shares price of Asian Paints tanked 3% today.

The downfall was due to a lower-than-expected third-quarter profit, as muted demand offset the benefits from a correction in raw material costs.

Asian Paints today reported a consolidated revenue of Rs 86.4 bn, up 1.3% YoY from Rs 85.3 bn a year back. This was lower than the market expectation of a 10.9% rise.

The net profit for December 2022 quarter came in at Rs 10.9 bn, up 6.4% YoY from Rs 10.3 bn in the same quarter of the previous fiscal year. This number was lower than the estimate of 8.7% YoY growth.

The growth in the profit was led by strong growth in the Auto OE and general industrial segments.

Meanwhile, international business was a mixed bag with good growth in the Middle East and Africa, while the South Asia market, especially Sri Lanka and Bangladesh, got severely impacted by the adverse forex and macroeconomic conditions.

International business sales increased by 2.1% to Rs 7.8 bn from Rs 7.6 bn. In constant currency terms, sales increased by 13.4%.

The profit before depreciation, interest, tax, and other income (PBDIT) margin was 18.7% for the December 2022 quarter.

The Home Decor business continued its expansion foray but witnessed some slowdown in the bath and kitchen business in the quarter.

For the coming quarter, the company is striving to improve its operating margins, driving operational efficiencies across businesses.

It is India's leading and Asia's third largest paint company. It operates in 15 countries with 26 paint manufacturing facilities in the world.

Asian Paints has delivered a 24% CAGR over the last thirty years. Rs 1 lakh invested in the company in 1992 would be worth over Rs 56 m today.

With this astonishing returns, it stands amongst investors' favourite stocks in India.

Why Alembic Pharma share price is rising

Moving on to news from the pharma sector, share price of Alembic Pharma gained 1.1% intraday today.

Gains came due to tentative approval from US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Acalabrutinib capsules.

Acalabrutinib capsules are for the treatment of adult patients with mantle cell lymphoma.

According to IQVIA, Acalabrutinib capsules have an estimated market size of US $1.5 bn for twelve months ending September 2022.

Alembic has a cumulative total of 180 ANDA approvals (157 final approvals and 23 tentative approvals) from the USFDA.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world.

Havells India declares interim dividend

Moving on to news from the consumer durable sector, share price of Havells was in focus today.

Home appliance manufacturer Havells today, reported a 7.2% decline in net profit to Rs 2.8 bn for the December 2022 quarter. This is against a net profit of Rs 3.1 bn in the year-ago period.

The revenue of the company grew by 12.8% to Rs 41.2 bn in the quarter under review from Rs 36.5 bn a year ago.

It reported total segmental revenue to Rs 41.2 bn, led by its cable segment.

The company's board declared an interim dividend of 300% or Rs 3 per equity share of Rs 1.

The record date for the interim dividend has been set as 28 January 2023.

Havells India is a fast-moving consumer electrical/electronic and power distribution equipment manufacturer.

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!

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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

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