Sensex Today Ends Flat | Adani Group Stocks Fall, Adani Enterprises & Adani Ports Down 7% | JSW Infra Delays Rs 40-bn IPO

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After opening the day on a positive note, Indian share reversed gains as the session progressed and ended marginally lower.

Benchmark indices ended in red amid high volatility, as broader economic challenges dampened sentiment back home, while investors waited for some key economic data due later in the week.

At the closing bell, the BSE Sensex stood lower by 40 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 34 points (down 0.2%).

UPL, HDFC Bank and Power Grid Corporation were among the top gainers today.

Adani Enterprises, Adani Ports and Tata Motors were among the top losers today.

The SGX Nifty was trading at 16,981, down by 31 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index fell 0.4% while the BSE SmallCap index fell 0.9%.

Sectoral indices ended on a mixed note with stocks in metal sector, and financial sector witnessing buying.

On the other hand, stocks from the telecom sector, power sector and auto sector witnessed heavy selling pressure.

Shares of Artemis Electrical & Projects hit their 52-week highs 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...

Asian share markets ended on mixed note. The Hang Seng ended higher by 1.1% while the Shanghai Composite index fell 0.2%. The Nikkei ended 0.2% higher.

The rupee is trading at 82.18 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.2% at Rs 58,634 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading flat at Rs 69,907 per kg.

Speaking of stock markets, investors used to believe that they have to choose between high dividend paying stocks and high growth stocks, as these were perceived as two distinct types of investments.

High dividend stocks were typically viewed as defensive investments, offering steady income but limited growth potential, while high growth stocks were seen as more volatile investments, with greater potential for capital appreciation but lower dividend yields.

However, there are some companies that offer both high dividend yields and strong growth potential. Yazad Pavri talks about such companies in the below video.

Tune in to know more.

Why Paytm share price is rising

In news from the fintech sector, share price of Paytm rose 3% today after the company announced that from now on its KYC wallet customers can make payments on every UPI QR code and online merchant where UPI payments are accepted.

This comes after the Reserve Bank of India (RBI) mandated all Prepaid Payment Instruments (PPI) like wallets to be interoperable with UPI and card networks by 31 March 2022.

Fintech firms had found it difficult to fully implement RBI's order due to issues around zero merchant discount rates (MDR) for UPI and interchange fees.

But now, the payments bank will have a beneficial impact in the form of meaningfully lower interchange fees paid to Paytm Payments Bank (PPBL) for Paytm wallet since this is based on the lower standardized interchange.

Paytm has 100 million wallet users in the country.

In February, PPBL processed 1.02 billion transactions on UPI, which included on-us transactions where the issuing and receiving bank of the payment are the same.

Following the development share price of Paytm rose 3% intraday today.

Paytm is India's leading financial services company that offers payments and financial solutions to consumers.

ABB Automates Cross-Border Pipeline

Moving on to news from the engineering sector, ABB India share price was in focus today.

The unit of Swedish-Swiss engineering and technology major ABB said it will secure the 130-kilometer Indo-Bangla Friendship Pipeline (IBFPL), through integrated automation and control solutions.

The cross-border pipeline was jointly inaugurated by Indian Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina on 18 March 2023. It will carry diesel from India to Bangladesh.

ABB will provide real-time data on the performance of the pipeline network by generating reports, history sheets, critical messages, and alarms, all of which will maximise efficiency and safety.

ABB India has automated over 5,000 kilometres of LPG, CNG and oil product pipeline in India so far. The company has also automated the Indo-Nepal petroleum pipeline, which was the first of its kind in South Asia when it opened in 2019.

Note that ABB India is also among the top 5 EV charging infrastructure companies.

The company's EV battery charger takes only 15 minutes for a full charge.

Vedanta to Declare Fifth Dividend

The board of directors of mining company Vedanta are set to consider and approve an interim dividend in its meeting scheduled today. The company informed the bourses about the meeting and its agenda in a filing earlier this month.

This would be the fifth interim dividend declared by Vedanta this year. Vedanta declared a total interim dividend of Rs 81 per share in its previous four dividend payouts.

The first interim dividend worth Rs 31.5 per share was announced in May 2022. The second interim cash dividend was Rs 19.5, issued in July 2022.

Note that debt-ridden Indian tycoons are having a difficult time in 2023, following the Adani fiasco.

Amid the collapse in Adani stocks, there's another prominent group which has come under the scrutiny of late. The Vedanta group.

Vedanta share price is falling, and the company's marketcap has fallen around 13% since the start of 2023.

However, Vedanta's dividend yield is the highest compared among its peers. For a detailed comparison, check out Vedanta vs NALCO - Which is the better dividend stock?

And to know what's moving the Indian stock markets, 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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