Sensex Today Ends Marginally Higher | Pharma Stocks Rally | Reliance & Grasim Top Gainers

Mon, 27 Mar Closing

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After opening the day on a positive note, Indian share markets pared some gains in late deals to end marginally higher.

Benchmark indices witnessed volatile trading activity and ended on a flat note after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered.

At the closing bell, the BSE Sensex stood lower by 127 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 19 points (up 0.1%).

Grasim, Reliance and Cipla were among the top gainers today.

Adani Ports, Power Grid Corporation and M&M on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,019 up by 100 points, at the time writing.

The BSE Midcap index fell 0.4% while the BSE SmallCap index ended 1.6% lower.

Sectoral indices ended on a mixed note with stocks in the metal sector, and healthcare sector witnessing most of the buying.

On the other hand, stocks from the realty sector, and power sector witnessed selling pressure.

Shares of Cyient hit their 52-week high today.

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...

Outside the home ground, Asian share markets ended on a mixed note.

At the close in Tokyo, the Nikkei ended 0.3% higher, while the Hang Seng fell 1.8%. The Shanghai Composite ended lower by 0.4%.

The rupee is trading at 82.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% lower at Rs 58,815 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.6% at Rs 69,967 per kg.

Speaking of stock markets, the performance of Indian share markets in 2023 shows that only a few stocks have experienced an upward trend, rather than the entire sector moving in a specific direction.

From the capital goods space, L&T and Siemens are topping the charts while the rest have languished.

The banking sector is showing negative trend, and majority of banking stocks have seen a decent correction. However, ICICI Bank and HDFC Bank are putting on a show and standing tall.

But chartist Brijesh Bhatia believes that there is one sector in which there's a huge risk-reward favourable equation.

The sector is none other than the specialty chemical sector.

Is it the right time to invest in specialty chemical stocks? Or should you wait? Brijesh Bhatia answers all these questions in the below video:

TVS Motor's global expansion

In news from the automobile sector, TVS Motor on Monday, introduced seven new products in Ghana, Africa.

The company has launched various new models like Apache 180 and Neo NX among others.

The company revealed that the Bebek - TVS Neo NX, TVS HLX series - HLX 125, HLX 150 & HLX 150X, TVS Apache 180 and TVS King series - Deluxe & Deluxe Plus ISG will be available at all showrooms across Ghana.

With the launch of new products in Ghana, TVS Motor Company aims to expand its reach and explore new opportunities and avenues for growth in the region.

TVS Motor ranks amongst the top five two-wheeler companies in the world with a presence in over 80 countries across Africa, South East Asia, the Indian Sub-Continent, Latin America and the Middle East.

Note that TVS Motor Company is in talks with Abu Dhabi Investment Authority (ADIA), Goldman Sachs Group Inc and Carlyle Group Inc for investment in its electric vehicle (EV) arm.

The electric vehicle (EV) megatrend is a once in a century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Take a look at the chart below, which shows the massive opportunity in the two-wheeler EVs.

It remains to be seen how the above developments pan out.

Mahindra Logistics launches warehouse

Moving on to news from the logistics sector, Mahindra Logistics, in partnership with Ascendas-Firstspace, is planning to establish a multi-client warehouse park in Pune's Talegaon.

The project will be executed in three phases, covering a total area of 1 million (m) sq ft. The first phase, which spans 0.5 million sq ft, is expected to become operational by the end of the 2023-24 financial year.

The warehouse park will offer comprehensive connectivity and is situated in Talegaon, which is part of the Chakan Talegaon Industrial Corridor (CTIC). CTIC is a major manufacturing cluster in India that has been witnessing significant growth due to the Make in India program's success.

The Ascendas-Firstspace Pune Talegaon-II Logistics Park is spread over 40 acres and represents the second project in the Ascendas-Firstspace micro-market.

Mahindra Logistics is a portfolio company of the Mahindra group.

Shares of the company have hit a roadblock in 2023. The company's shares have plummeted 25% so far in 2023. In the past month alone, the stock is down 21%.

To know why, check out our recent editorial on why Mahindra Logistics' share price is falling.

L&T's order win

Moving on to news from the engineering sector, Larsen and Toubro (L&T), on Monday, secured EPC (engineering, procurement and construction) orders for its power transmission and distribution (T&D) business in India and overseas.

One of the orders is related to the work to establish over 365 km of 765kV double circuit transmission lines to enable the transfer of power from Rajasthan to Gujarat during a high renewable energy availability scenario.

Another order won by L&T is to implement an Advanced Distribution Management System (ADMS) in the Greater Mumbai area.

The company has also secured another order to develop distribution infrastructure in a district of Chhattisgarh under the Revamped, Reforms-based and Results-linked Distribution Sector (RDSS) Scheme.

Overseas, one of the orders L&T has received is to construct a 380kV substation with associated transmission interconnections in Saudi Arabia, while another order is to construct 275kV and 132kV transmission lines in the eastern coast of peninsular Malaysia.

The company added that additional orders have been won in the ongoing substation and transmission line works in India and the Far East.

The company has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favorite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

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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