Sensex Today Trades Lower | Nifty Below 21,800 | Bajaj Finance Down 4%

Tue, 30 Jan 10:30 am

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Asian markets traded higher following overnight gains on Wall Street.

The Nikkei index was trading 0.3% higher, while Hang Seng was trading marginally lower. Meanwhile Shanghai index tanked 0.9%.

US stocks advanced on Monday as market participants looked ahead to this week's slew of megacap earnings, economic data and the Federal Reserve's monetary policy meeting.

Here's a table showing how US stocks performed on Monday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	154.84	1.05	0.68%	155.2	152.92	155.2	88.86
Apple	191.73	-0.69	-0.36%	192.2	189.58	199.62	141.32
Meta	401.02	6.88	1.75%	402.93	393.1	402.93	146.95
Tesla	190.93	7.68	4.19%	191.48	183.67	299.29	152.37
Netflix	575.79	5.37	0.94%	578.55	562.68	579.64	285.33
Amazon	161.26	2.14	1.34%	161.29	158.9	161.29	88.12
Microsoft	409.72	5.79	1.43%	409.98	404.33	409.98	242.2
Dow Jones	38333.45	224.02	0.59%	38343.93	38061.17	38343.93	31429.82
Nasdaq	17596.27	175.26	1.01%	17603.95	17414.62	17665.26	11695.41

Data Source: Equitymaster

At present, the BSE Sensex is down 123 points and NSE Nifty is trading flat.

ONGC, HUL and BPCL are among the top gainers today.

Bajaj Finance, Coal India and Bajaj Finserv on the other hand are among the top losers today.

Broader markets are trading on mixed. The BSE Mid Cap is trading 0.2% higher and the BSE Small Cap index is trading 0.5% higher.

Sectoral indices are trading mixed, with socks in realty sector, IT sector and oil & gas sector witnessing most buying. Meanwhile, stocks in power sector and consumer durables sector witnessed selling pressure.

The rupee is trading at Rs 83.14 against the US dollar.

In commodity markets, gold prices are trading 0.1% higher at Rs 62,440 per 10 grams today.

Meanwhile, silver prices are trading flat at Rs 72,376 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, India's three leading exchanges, BSE, MCX and IEX operate in different genres.

One is a stock exchange (operating in financial sector).

The second is a commodity exchange (operating in manufacturing sector).

The third is an energy exchange (operating in infrastructure sector).

All three exchanges are listed. Also, they are perceived by investors as the gateway to the long-term prosperity of the underlying sector they operate in.

Which one could be a future multibagger?

Tanushree Banerjee co-head of research at Equitymaster, answers these questions in below video.

GAIL Q3 Results

GAIL (India) on 29 January reported a multi-fold increase in consolidated net profit at Rs 31.9 billion (bn) in the third quarter of the financial year 2023-24 amid softening in liquefied natural gas (LNG) prices from last year.

The consolidated net profit of the country's largest gas distributor was Rs 3.9 bn in the same period last year. Sequentially, net profit increased 31% from Rs 24.4 bn in the quarter ending September 2023.

In 2022, GAIL had to cut down supplies to its customers after supply disruptions from Russia's Gazprom and was forced to buy expensive LNG from the short-term market.

Supply from Germany's SEFE (renamed by the German government after Russia relinquished ownership of Gazprom) was resumed in March 2023.

Revenue from operations came in at Rs 347.7 bn in the quarter ending 31 December, a marginal decline from Rs 359.4 bn in the year-ago period.

He further stated that the company has incurred capital expenditure of Rs 6,583 crore during the period from April'23 to December'23, mainly on pipelines, petrochemicals, equity to JVs, etc.

The board of directors declared an interim dividend of 55% for FY 2023-24 i.e. Rs 5.5 per equity share.

During the quarter, the average natural gas transmission volume stood at 121.54 MMSCMD (million metric standard cubic metres per day) against 120.31 MMSCMD in Q2 FY24.

A transition from grey to green hydrogen is happening at a faster pace than expected.GAIL is one of the companies contributing to this transition. For more details, check out  Full Update on India's Top Green Hydrogen Stocks and How They're Faring in 2023.

For more, check out Why GAIL Share Price is Rising.

ITC Q3 Profit Rises 11%

ITC Ltd reported a standalone net profit of Rs 55.7 bn for the December quarter of FY24, registering a growth of 11% from Rs 50.3 bn in the same quarter of the previous financial year.

Sequentially, the net profit rose 13% from Rs 49.3 bn in the September quarter.

The company announced a 6.5% increase in its consolidated net profit, reaching Rs 54 bn for the quarter ending in December.

Total revenue from operations of the company rose 2% on a year-on-year basis at Rs 176.5 bn from Rs 172.7 bn, the company said in a regulatory filing on 29 January. The consolidated revenue was up 2.4% at Rs 194.8 bn.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter were at Rs 60.2 bn down 3.2%. EBITDA margin was at 36.6% and fell by 1.8% YoY.

The cigarettes-to-hotel conglomerate also announced an interim dividend of Rs 6.25 per share for the financial year 2023-2024. The board fixed the record date for the same on 8 February.

The company had a resilient performance in the FMCG - Others segment despite subdued demand conditions, with a YoY increase of 7.6% in segment revenue and a 2-year CAGR of 12.8%.

In the cigarette segment, consolidation occurred on a high base following sustained growth momentum.

The hotels segment witnessed its best-ever quarter, with segment revenue and PBIT increasing by 18% and 57% YoY, respectively.

The Paperboards, Paper, and Packaging segment continued to be impacted by low-priced Chinese supplies, muted domestic demand, a surge in wood cost, and a high base effect.

ITC is one of the best dividend-paying stocks. For more, check out the best dividend stocks you can count on.

Apart from that, we also covered an editorial a couple of months ago explaining why the prospects for ITC look good. You can read it here - ITC: Load, Aim...Fire.

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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