Sensex, Nifty Open Flat; Hindalco Industries & SBI Top Gainers

Thu, 11 Feb 09:30 am

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Asian share markets are flat today as investors kept tapping the brakes on runs in asset prices after taking in tepid US inflation data and comments from the Federal Reserve chief affirming the outlook for a slow recovery.

The Nikkei is trading higher by 0.2% and the Hang Seng is trading up by 0.15%.

In US stock markets, Wall Street indices ended flat on Wednesday, though the Dow Jones rose 0.2% to a record close. The Nasdaq lost 0.3% from a record close the day before.

Back home, Indian share markets have opened the day on a flat note, tracking mixed global cues.

Market participants are tracking ITC share price and ACC share price as these companies are scheduled to announce their December quarter earnings today.

The BSE Sensex is trading up by 28 points. Meanwhile, the NSE Nifty is trading higher by 9 points.

SBI is among the top gainers today. Titan, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened up by 0.4% and 0.6%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest.

Automobile stocks and IT stocks, on the other hand, are trading in red.

Shares of Magma Fincorp and Dixon Technologies hit their 52-week highs today.

The rupee is trading at 72.83 against the US$.

Gold prices are trading down by 0.3% at Rs 47,859 per 10 grams.

Crude oil prices rose for the ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will boost demand.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia talks about why the bull market is still intact.

Will the market continue to go up? Should long-term investors hold on to their shares?

Brijesh answers these questions in the video below. Tune in to find out more:

In news from the fertilizers sector, National Fertilizers (NFL) is among the top buzzing stocks today.

The cental government has decided to sell 20% stake in National Fertilizers through an offer for sale (OFS).

The Department of Investment and Public Asset Management (DIPAM) on Wednesday invited tenders from merchant banks for the sale process.

NFL is the second-largest producer of Urea in the country with a share of about 16% of total Urea production in the country. NFL has five gas based Ammonia-Urea plants viz. Nangal & Bathinda plants in Punjab, Panipat plant in Haryana and two plants at Vijaipur at District Guna, in Madhya Pradesh.

NFL has an authorized capital of Rs 10 billion and a paid up capital of Rs 4.9 billion out of which the government holds 74.71% shares and 25.29% shares are held by financial institutions & others.

The Government is also considering allotting shares to eligible and willing employees of NFL at a discount on the Issue/ discovered price (lowest cut off price) up to a maximum of certain percentage of the OFS size subsequent to completion of the transaction under OFS.

DIPAM has also sought tenders from law firms with experience and expertise in public offerings and OFS in capital market to act as legal advisers and assist the government in the process.

The deadline for submission of bids for both legal adviser and merchant banker for the OFS ends at 3 pm on March 2.

National Fertilizers share price has opened the day up by 0.7%.

Moving on to news from the retail sector, Titan Company on Wednesday reported a 11% year-on-year (YoY) decline in its net profit for the quarter ended December to Rs 4.2 billion.

During the quarter, the company took a one-time loss of Rs 1.4 billion on account of scaling down its subsidiary Favre Leuba.

The company's revenues in the quarter surged 17% YoY to Rs 72.9 billion.

Titan reported a return to YoY growth in sales in the December quarter, suggesting that the company has healed from the impact of the Covid-19 pandemic seen earlier in the financial year.

While the jewellery business grew by 16% YoY, the watches and wearables and eyewear divisions also did well with the recovery rate for the quarter being 88% and 93%, respectively.

Sales in the company's jewellery division grew 16% to Rs 62.5 billion helped by impressive wedding season demand that the company witnessed.

Titan said that there was significant recovery in diamond studded jewellery suggesting that demand is coming back in the premium segment.

The jewellery division's operating profit in the quarter stood at Rs 7.5 billion as against Rs 7 billion in the year-ago quarter.

Titan share price has opened the day down by 2.1%.

Speaking of the country's largest watchmaker, here's an interesting data on Titan...

Even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouthwatering returns.

Take a look at how the power of compounding has gone wild here...

Here's what Co-head of Research at Equitymaster, Tanushree Banerjee wrote about it in one of the editions of Profit Hunter:

• It's possible to accumulate a few crores by investing small amounts in good businesses. Especially when the business is in distress and comes with margin of safety in valuations.
  
  Like the stock in my latest special report - First Stock to Potentially Rs 7 Crore Long-term Wealth.
  
  Business headwinds and macro and regulatory issues have kept the stock out of favour in most of 2020.
  
  Given its pedigree, balance sheet strength and cash flows, the stock has a very high chance of rerating once the temporary clouds of uncertainty disperse.
  
  In fact, I believe that 2021 could be for this stock what 2004 was for Titan.

In an upcoming special online event - The Great Indian Wealth Project - Tanushree will show you how to potentially accumulate Rs 7 crore in wealth, over the long-term.

You can sign up for free here.

And 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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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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Indian Share Market Update: Top Gainers and Losers