Sensex Today Trades Higher | Paytm Zooms 9% | Coal India & Axis Bank Top Gainers

Wed, 7 Feb 10:30 am

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Asian stocks firmed on Wednesday as investors waited to see if Beijing's increasingly frantic efforts to prop up its sagging share markets would actually work, while bonds enjoyed a reprieve from recent selling.

The Nikkei index was trading 0.1% lower, while Hang Seng was trading 1.1% higher. Meanwhile Shanghai index is trading 1.1% higher.

The S&P 500 closed slightly higher on Tuesday, as investors scrutinized a mixed bag of earnings at big US companies and digested comments from Federal Reserve policy makers for clues about its first planned interest-rate cut.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	145.41	0.48	0.33%	146.74	144.52	155.2	88.86
Apple	189.3	1.62	0.86%	189.31	186.77	199.62	143.9
Meta	454.72	-4.69	-1.02%	467.12	453	485.96	167.66
Tesla	185.1	4.04	2.23%	186.49	177.11	299.29	152.37
Netflix	555.88	-6.18	-1.10%	566.34	554.37	579.64	285.33
Amazon	169.15	-1.16	-0.68%	170.71	167.65	172.5	88.12
Microsoft	405.49	-0.16	-0.04%	407.97	402.91	415.32	245.61
Dow Jones	38521.36	141.24	0.37%	38545.28	38350.46	38783.62	31429.82
Nasdaq	17572.73	-40.3	-0.23%	17680.62	17475.43	17682.29	11695.41

Data Source: Equitymaster

At present, the BSE Sensex is trading 126 points higher and NSE Nifty is trading 45 points higher.

SBI, Coal India and Axis Bank are among the top gainers today.

Wipro, Infosys and HCL Tech on the other hand are among the top losers today.

Broader markets are trading on higher. The BSE Mid Cap is trading 0.4% higher and the BSE Small Cap index is trading 0.8% higher.

Sectoral indices are trading mixed, with socks in realty sector, metal sector and finance sector witnessing most buying. Meanwhile, stocks in media sector and IT sector witness selling pressure.

The rupee is trading at Rs 83.03 against the US dollar.

In commodity markets, gold prices are trading 0.1% lower at Rs 62,485 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 70,420 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, smallcaps were not the only outperformers of 2023.

Stocks from the defence, railways and electric vehicle sectors also found their place under the sun.

Stocks of the largest public sector entities in defence and railway sectors fetched handsome gains every time the government ordered more spending.

But there were also plenty of private sector entities in defence ecosystem that commanded premium valuations.

The EV sector became a stock market favourite in 2023.

Am sure you wonder, what after these big-ticket gains?

Will the stars of 2023 continue to shine in 2024? Or should you consider a different set of potential wealth creators?

Research Analyst, Tanushree Banerjee answers this in below video.

Nykaa Q3 Results

FSN E-Commerce Ventures, which operates the beauty and personal care (BPC) company Nykaa, reported a net profit of Rs 175 m in the December quarter, up 106% from the year-ago period, driven by strong demand during the festival and wedding seasons.

Nykaa had reported a net profit of Rs 85 m in Q3FY23.

The doubling of net profit was coupled with a 22% increase in revenue, which came in at Rs 17.9 bn, up from Rs 14.6 bn last year.

Nykaa had posted a net profit of Rs 78 m in Q2FY24, a 50% jump from the year-ago period. Its revenue grew 22% to Rs 15.1 bn.

Nykaa's gross merchandise value (GMV) grew 29% year-on-year (YoY) to Rs 36.2 bn in the three months to December, with all divisions contributing to the company's growth.

Its mainstay business, the beauty and personal care (BPC) division, saw GMV increasing 25% to Rs 23.7 bn from Rs 19 bn YoY.

Nykaa Fashion, which is a relatively young business, registered a GMV growth of 40% to Rs 10.1 bn from Rs 7.2 bn in Q3FY23. The remaining business came from other divisions like Super Store and others.

FSN E-commerce will be investing Rs 1.5 bn into Nykaa Fashion through a rights issue. The amount will be used to repay the debt given by the parent company.

Biocon Receives USFDA Approval

Biocon on Tuesday received approval from the US health regulator for a generic anti-cancer medication.

The company has received approval from the US Food and Drug Administration (USFDA) for Dasatinib tablets to market in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg.

The approval will further strengthen the company's portfolio of vertically integrated, complex drug products.

For more, check out Equitymaster's stock screener for screening India's top pharma stocks

Britannia Industries Q3 Results

Britannia Industries shares gained 2.3% in early trade on 7 February as earnings report for the quarter ended December 2023 were in line with estimates, despite the net profit falling 40% on-year.

However, the net profit in the base quarter included an exceptional gain due to the joint venture agreement with (France's) Bel SA for the cheese business.

On 6 February 2024, Britannia reported a 40% fall in its consolidated net profit at Rs 5.6 bn for the third quarter of this fiscal, compared to a net profit of Rs 9.3 bn a year ago.

The muted growth in Q3 FY24 comes on the back of a high base, some price cuts, high competition and low single-digit volume growth.

Revenue from operations rose marginally to Rs 42.6 bn from Rs 41.9 bn in the same quarter last fiscal.

Over the past six months, shares of the FMCG major have risen 7.6%. In comparison, the benchmark Nifty 50 index has given investors returns of around 12% during the same period.

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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