Sensex Today Hits Record High | Nifty Above 22,750 | Tata Motors Jumps 5%

Tue, 9 Apr 10:30 am

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Asian shares crept up a little more cautiously ahead of this week's US inflation data and a crucial European Central Bank meeting.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent. Japan's Nikkei rose 0.6%.

Wall Street stocks were muted as US bond yields hit their highest levels since late November and investor optimism about the outlook for Federal Reserve interest rate cuts waned.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	156.14	2.2	1.43%	156.66	153.99	157	103.27
Apple	168.45	-1.13	-0.67%	169.2	168.24	199.62	159.78
Meta	519.25	-8.09	-1.53%	531.49	518.89	531.49	207.13
Tesla	172.98	8.08	4.90%	174.5	167.79	299.29	152.37
Netflix	628.41	-7.77	-1.22%	639	628.11	639	315.62
Amazon	185.19	0.12	0.06%	187.29	184.81	187.29	97.71
Microsoft	424.59	-0.93	-0.22%	427.28	423.3	430.82	275.37
Dow Jones	38892.8	-11.24	-0.03%	39013.2	38857.7	39889.05	32327.2
Nasdaq	18100.19	-8.27	-0.05%	18178.66	18050.69	18464.7	12724.24

Source: Equitymaster

At present, the BSE Sensex is trading 248 points higher and NSE Nifty is trading 67 points higher.

Infosys, HCL Tech and Apollo Hospital are among the top gainers today.

BPCL, Reliance Industries and Titan the other hand are among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets are trading on positive note. The BSE Midcap index and the BSE Small Cap index are trading 0.4% higher.

Barring FMCG stocks all other sectoral indices are trading positive , with socks in IT sector, realty sector and Financial sector witnessing buying.

The rupee is trading at Rs 83.23 against the US dollar.

In commodity markets, gold prices are trading 0.3% higher at Rs 71,099 per 10 grams today.

Meanwhile, silver prices are trading 0.1% lower at Rs 81,898 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, green hydrogen is the infinitely sustainable result of the sun's radiation. So, the shift to hydrogen for fuel is simply a shift away from depleting finite sources of fossil fuels.

Green hydrogen can be a game changer for India, which imports 85% of its oil and 53% of gas demand.

Co-head of Research at Equitymaster, Tanushree Banerjee talks What kind of companies are helping India in this green hydrogen landscape, in her latest video.

Tune in to the below video:

Tata Motors' JLR Q4 Sales Growth

Tata Motors on 8 April said retail sales of Jaguar Land Rover surged 11% year-on-year (YoY) to 114,038 units in the fourth quarter of FY24, driven by increased production and sustained global demand.

The retail sales during the quarter compared to the past year were up 32% in the UK, 21% in North America, and 16% overseas. In China, sales were down 9%, while it fell 2% in Europe for the quarter.

Full-year sales jumped 20% YoY as wholesale volumes stood at 401,303, up 25%, while retail sales came at 431,733, recording a 22% growth.

In the reported quarter, wholesale volumes were at 110,190 units, posting a growth of 16% compared to the same period last year.

By brand, compared to the prior year, wholesale volumes increased in the quarter for Range Rover up 22%, Defender up 5%, Jaguar up 39% and Discovery up 1%.

Tata Motors Limited is a leading global automobile manufacturer with a portfolio that covers a wide range of cars, SUVs, buses, trucks, pickups, and defence vehicles.

In the past year, Tata Motors has witnessed significant stock growth, with its shares surging approximately 136% from Rs 420 to Rs 996 as of March 2024.

It stands among the 10 Biggest Gainers of Tata Group Stocks for FY24.

For more, check out Can Tata Motors, Maruti Suzuki Crash After India's EV Policy 2024.

Gland Pharma Receives USFDA Approval

Gland Pharma on Monday said it has received approval from the US health regulator to market a generic medication used to treat breast cancer.

The company has received approval from the US Food and Drug Administration (USFDA) for Eribulin Mesylate Injection.

The product is expected to be the first generic approval in the market, and the company expects to launch this product in the near term through its marketing partner.

According to IQVIA, the product has sales of around US$ 92 m in the US for 12 months ending in February 2024.

The company said it is co-developing several complex injectables, including the product, with Orbicular Pharmaceutical Technologies.

Bain Capital to Exit Axis Bank

More than six years after making a big-bang entry into Axis Bank, Bain Capital is all set to make a complete exit from the private sector lender, as the US private equity major looks to dilute its balance stake and launch a fresh block deal of around US$ 430 million (m).

The block deal has been launched by a few entities associated with Bain Capital and this is intended to be a clean-up trade, marking a full exit of Bain Capital.

The offer price has been fixed in the range of 1,071.0 to 1,076.1 per share, representing a modest discount at best to Monday's closing price of 1,076.1 per share. BofA Securities India is the sole book-runner for the deal.

Bain Capital entities, Integral Investments South Asia IV will offload 8.4 m shares, while BC Asia Investments VII and BC Asia Investments III fund will sell 14.5 m and 10.5 m shares, respectively.

Bain Capital acquired its stake in Axis Bank in November 2017. The private equity firm previously sold a 1.1% stake in the private sector lender through open market transactions in December for about 37 bn.

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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