Sensex Today Falls 200 Points | Metal & Banking Stocks Witness Selling | Tata Steel, ICICI Bank & IndusInd Bank Top Losers

Thu, 16 Mar 10:30 am

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Asian share markets fell today as fresh turmoil at Credit Suisse group roiled markets.

The Nikkei is down 1% while the Hang Seng is trading lower by 1.5%. The Shanghai Composite is trading lower by 0.5%.

US stocks pared losses late on Wednesday but the Dow and S&P 500 still closed lower, as problems at Credit Suisse revived fears of a banking crisis, eclipsing bets on a smaller US rate hike this month.

The Dow Jones Industrial Average ended 0.9% lower while the tech heavy Nasdaq Composite rose 0.4%.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	96.55	2.3	2.44%	97.25	93.04	144.16	83.45
Apple	152.99	0.4	0.26%	153.25	149.92	179.61	124.17
Meta	197.75	3.73	1.92%	197.78	190.84	236.86	88.09
Tesla	180.45	-2.81	-1.53%	182.34	176.03	384.29	101.81
Netflix	303.79	8.85	3.00%	306.31	292.28	396.5	162.71
Amazon	96.2	1.32	1.39%	96.67	93.07	170.83	81.43
Microsoft	265.44	4.65	1.78%	266.48	259.21	315.95	213.43
Dow Jones	31,874.57	-280.83	-0.87%	31,906.47	31,429.82	35,492.22	28,660.94
Nasdaq	12,251.32	51.54	0.42%	12,269.45	12,026.18	15,265.42	10,440.64

Source: Equitymaster

Back home, Indian share markets are trading on a negative note tracking the trend of global markets.

At present, the BSE Sensex is trading lower by 219 points. Meanwhile, the NSE Nifty is trading down by 64 points.

Titan and Nestle are among the top gainers today.

Tata Steel and IndusInd Bank on the other hand are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is down 1% and the BSE Small Cap index trading lower by 1.3%.

Sectoral indices are trading on a negative note with the exception of FMCG sector and consumer durable sector. Stocks in the capital goods sector and metal sector witness most of the selling.

Shares of Petronet LNG hit their 52 week high today.

The rupee is trading at Rs 82.73 against the US dollar.

In the commodity markets, gold prices are trading lower by Rs 391 at Rs 57,945 per 10 grams.

Meanwhile, silver prices are trading lower by 0.5% at Rs 66,950 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, with interest rates rising up, both in India and globally, a good number of stocks have seen their PE multiples compress.

In some cases, such as in case of loss-making new age companies, this was long due.

When PE multiples correct, it is a good time for investors to lap up wonderful businesses at a fair, if not wonderful price. So that's exactly what Richa Agarwal talks about in the below video...how to assess growth quality and how much you should be willing to pay up for growth to not compromise margin of safety.

She talks about 3 stocks where growth potential seems good. Tune in to the below video to know more:

Earning consistent returns in a volatile market

2022 was a wild, turbulent, and volatile year for the stock market. During these tough times, a smart man is the one who managed to earn consistent returns and not just some windfall gains.

Unless a brutal bear market scares you out of your systematic monthly investments, they are one of the most effective ways to benefit from the long term stock market growth story.

Let us consider a systematic investment plan of Rs 1,000 every month into the Sensex between 2011 and March 2020 i.e. you start on 31 December 2010 and end on 31 March 2020.

December 2010 was a bull market top as the Sensex never closed the year higher two years prior to it and till three years later.

Likewise, March 2020 can be considered as a bear market bottom because that was the time the market crashed on account of the pandemic.

Thus, when it comes to timing, you were investing at a bull market top and exiting at a bear market bottom, the worst case scenario possible.

So, what was the performance like?

Well, not so great to be honest. You would have earned an annual return of 6.6% on your investments. Throw in a couple of percentage points of dividends and the returns climb to around 8%.

However, this is India, and 8% annual returns doesn't quite cut it.

There is a silver lining though. Had you persisted for another 15-18 months, your returns would have climbed to an impressive 14.4%. Throw in dividends and you get a pretty respectable 16%-17%.

Here's how your journey would have progressed.

An investment of Rs 1.3 lakh spread over 129 months would have swelled to close to Rs 3 lakhs.

To know more about the magic of SIPs read our editorial on: how to earn 15% returns even if the market is at all-time highs.

Promoters of Samvardhana Motherson sell stake

Reportedly, Sumitomo Wiring Systems is likely to sell a 3.4% stake in Samvardhana Motherson International, a leading manufacturer of wiring harnesses, via a block deal.

The floor price of the deal will be Rs 69.9 per share, persons privy to the development told the news channel. This will mark a discount of almost 9% as against the current stock price. The overall deal size will be US $ 195 billion (bn) (about Rs 16,133.9 bn).

The Japan headquartered Sumitomo Wiring Systems is one of the promoters in Samvardhana Motherson, holding a 17.6% stake in the company as of 31 December 2022.

3i Infotech incorporates a new subsidiary

Mumbai-headquartered 3i Infotech has incorporated a wholly-owned subsidiary NuRe Infotech Solutions Pte Ltd in Singapore.

The subsidiary will engage in the information technology products-related business, as per the company's regulatory filing.

3i Infotech drives digital transformation across BFSI, healthcare, manufacturing, retail, and government sectors using technologies such as artificial intelligence (AI), blockchain, robotic process automation (RPA), low-code development, Internet of Things (IoT), cloud computing or machine learning (ML).

It is among the penny stocks set to grow dramatically in 2023.

Why KPI Green Energy share price is rising

KPI Green Energy rallied over 4% after the company received the commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity of 31 MWdc solar power project under its captive power producer (CPP) segment.

The power from the said solar project would be supplied to Creative Technologies (5 MWdc), Colourtex Industries (5 MWdc) and Aether Industries (16 MWdc).

KPI Green Energy (formerly known as KPI Global Infrastructure) generates and sells solar power under 'Solarism' brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.

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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