Sensex Today Trades Higher After RBI Keeps Rates Unchanged | Nykaa Shares Tank 3% | SBI and Bajaj Finance Top Gainers

Thu, 6 Apr 10:30 am

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Asian share markets are trading lower today after US equities dropped and government bonds rallied against the backdrop of weaker-than-expected economic data that supported forecasts for recession.

The Nikkei is down 1.1% while the Hang Seng is trading flat. The Shanghai Composite is trading flat.

The S&P 500 dipped and the Nasdaq ended sharply lower on Wednesday after a growing wave of weak economic data deepened worries that the Federal Reserve's rapid interest rate hikes might tip the US economy into a recession.

The Dow Jones Industrial Average ended 0.2% higher while the tech heavy Nasdaq Composite was down 1%.

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	104.95	-0.17	-0.16%	106.54	104.10	143.59	83.45
Apple	163.76	-1.87	-1.13%	165.05	161.80	176.15	124.17
Meta	211.48	-3.24	-1.51%	215.19	209.94	228.99	88.09
Tesla	185.52	-7.06	-3.67%	190.68	183.76	384.29	101.81
Netflix	342.35	-4.40	-1.27%	345.43	336.25	379.43	162.71
Amazon	101.10	-2.85	-2.74%	103.91	100.75	168.11	81.43
Microsoft	284.34	-2.84	-0.99%	287.15	282.92	307.00	213.43
Dow Jones	33,482.72	80.34	0.24%	33,544.00	33,376.00	35,492.00	28,661.00
Nasdaq	12,967.20	-132.90	-1.01%	13,065.00	12,894.00	15,121.00	10,441.00

Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

At present, the BSE Sensex is trading higher by 145 points. Meanwhile, the NSE Nifty is trading up by 37 points.

SBI India and IndusInd Bank are among the top gainers today.

HCL Technologies and HUL on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up 0.3% and the BSE Small Cap index is trading higher by 0.5%.

Sectoral indices are trading on a mixed note. Stocks in the realty sector and power sector are witnessing buying.

Meanwhile, stocks in the metal sector witness selling.

Shares of Dr Abbott India and Dr Reddy's Laboratories hit their 52-week high today.

The rupee is trading at Rs 82 against the US dollar.

In commodity markets, gold prices are trading lower by Rs 200 at Rs 60,656 per 10 grams.

Meanwhile, silver prices are trading flat at Rs 74,525 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, over the past decade, the demand for lithium has grown in massive proportions.

China controls almost 60% of the world's capacity for processing raw lithium products into battery-grade chemicals.

Some Western countries are concerned that if lithium supplies fall short, Chinese companies will meet the needs of their own rapidly growing electric vehicle (EV) market first.

However, Chinese firms continue to invest in lithium mining and processing and lithium-ion battery production around the world. The race for countries to establish a secure, independent supply of lithium is on.

To know how far India has come in the race, tune into the video below.

Avenue Supermarts Q4 results

Avenue Supermarts, which operates the retail chain DMart, reported a standalone revenue of Rs 103.4 billion (bn) for the March 2023 quarter. This is an increase of 20%, compared with Rs 86.1 bn clocked in the same period last year.

The total number of stores at the end of March quarter stood at 324, compared with 306 stores at the end of December quarter.

The sharp correction in the stock in the recent past was mainly due to slow post Covid-19 recovery in sales parameters, deterioration in sales mix and onslaught of online retail on brick & mortar modern trade.

Did you know that Avenue Supermarts is one of the top stocks of ace investor's Radkhakishan Damani's portfolio?

Ever since its debut in March 2017, DMart shares have delivered returns of 470% till date.

The company has aggressive plans of opening new stores going forward. The company plans to boost its store count fivefold as it seeks to grow market share and hold its own against aggressive expansion from the likes of Mukesh Ambani's Reliance Retail.

To know more, check out Avenue Supermarts financial factsheet and its latest quarterly results.

Rail Vikas Nigam bags a new contract

Rail Vikas Nigam emerged as the lowest bidder for the provision of E1 based automatic signaling with continuous track circuiting and other associated works including suitable indoor alteration in electronic interlocking/RRI/PI stations enroute in Jhansi - Gwalior section of Jhansi Division of North Central Railway.

The cost of the project is Rs 1.2 bn.

Rail Vikas Nigam is an Indian public sector undertaking which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development.

It was incorporated in 2003 to meet the country's surging infrastructural requirements and to implement projects on a fast-track basis.

Nykaa quarterly update

FSN e-commerce, which owns the popular beauty products brand Nykaa, has seen strong growth in business in the March 2023 quarter even though the industry trend was subdued.

The company saw stronger revenue growth on the Nykaa platforms, led by sustained consumption by tier-1 consumers.

During the quarter, the company's beauty & personal care (BPC) categories have seen sustained strong demand, partly aided by the Pink Love sale introduced during the quarter.

The BPC business saw higher year-on-year growth rates in the March quarter compared to the year-on-year growth seen in the December quarter.

The BPC segment accounted for nearly 90% of Nykaa's total revenue in financial year 2022.

The quarterly results might finally be a breath of relief for investors because as of late Nykaa share price was falling.

Hero MotoCorp announces VRS

Nearly a week after India's biggest two-wheeler maker Hero MotoCorp appointed a new CEO, Niranjan Gupta, who has been the Chief Financial Officer of the company, has announced a scheme for its employees.

Hero MotoCorp informed the exchanges that it has launched a voluntary retirement scheme (VRS) for its staff. The company expects this scheme to improve efficiency through a lean and more productive organization.

It is rare for a two-wheeler company to declare VRS.

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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