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Sensex Today Trades Flat | Tata Motors Jumps 8% on Strong Global Wholesale Growth | Adani Enterprises & Adani Ports Top Gainers
Mon, 10 Apr 10:30 am

Sensex Today Trades Flat| Tata Motors Jumps 8% on Strong Global Wholesale Growth | Adani Enterprises & Adani Ports Top Gainers

Asian share markets gained on Monday as investors assessed the Federal Reserve's policy path to control inflation, while treasury yields fell back.

The Nikkei is up 0.5% while the Hang Seng is trading flat. The Shanghai Composite is trading lower by 0.2%.

Major US stock indices ended higher on Friday, helped by a rally in Alphabet shares as investors, worried about a slowing economy, looked to upcoming jobs data.

The Dow Jones Industrial Average ended flat while the tech heavy Nasdaq Composite gained 0.7%.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet108.903.953.76%109.63104.82139.8583.45
Apple164.660.900.55%164.96162.00176.15124.17
Meta216.104.622.18%216.94208.65225.5288.09
Tesla185.06-0.46-0.25%186.39179.74364.07101.81
Netflix339.33-3.02-0.88%340.48332.63379.43162.71
Amazon102.060.960.95%102.3899.80162.2081.43
Microsoft291.607.262.55%292.08282.03303.65213.43
Dow Jones33,485.292.570.01%33,526.0033,325.0035,492.0028,661.00
Nasdaq13,062.6095.400.74%13,078.0012,846.0014,639.0010,441.00
Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 72 points. Meanwhile, the NSE Nifty is trading up by 32 points.

Tata Motors and L&T are among the top gainers today.

Asian Paints and Maruti Suzuki 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 0.4% and the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a mixed note with the exception of FMCG sector, financial sector and banking sector. Stocks in the oil and gas sector and power sector are witnessing buying.

Shares of Dr Abbott India and UltraTech Cement hit their 52-week high today.

The rupee is trading at Rs 81.91 against the US dollar.

In commodity markets, gold prices are trading lower by Rs 386 at Rs 60,125 per 10 grams.

Meanwhile, silver prices are trading lower by 0.3% Rs 74,319 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, projecting a company's position and market share 10 years out or for that matter even 10 months ahead isn't an exact science.

However, with an unchallenged dominance in a particular segment, investors can look at certain companies which are unlikely to lose their leadership anytime soon and potentially find likely winners.

In the below video, Yazad Pavri covers the second company in our ongoing 5-part series covering the most dominant companies in their category that are likely to retain their top position over the next 10 years.

Tune in to the video to know more.

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

chart

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.

As an individual investor, you need to sit tight over high conviction stocks and invest consistently to see the magic of compounding.

PNC Infratech receives a letter of acceptance

Infrastructure company PNC Infratech has received a letter of acceptance (LoA) from Haryana Rail Infrastructure Development Corporation for a project worth Rs 7.7 billion (bn).

The contract entails design and construction of civil works from 29.6 - 49.7 km and from 55.6- 61.5 km and its connectivity to the Indian Railways network from New Patli to Patli Station & New Patli to Sultanpur Station, among other things.

The period by which the contract is slated to be executed is 30 months.

PNC Infratech earlier this month received a letter of award from NHAI for three of its projects.

PNC Infratech is one of the front ending Indian infrastructure investment, development, construction, operation and management companies in the country.

Its core area of experience involves projects in core infrastructure sectors including expressways, highways, bridges, and other infrastructure activities with an established track record of successful execution of projects across geographies.

IIFL Finance secures funding

Non-banking financial company IIFL Finance has secured Rs 8.2 bn in long-term funding, jointly from Export Development Canada (EDC) and Deutsche Bank.

IIFC Finance secured Rs 4.1 bn from EDC and Rs 4.1 bn from Deutsche Bank, respectively.

The deal was structured under the aegis of Deutsche Bank as mandated lead arranger, book runner, and co-financier. This would also be IIFL's second loan from EDC. It had previously secured funding of Rs 8.2 bn from EDC in 2019.

IIFL Finance raised Rs 32.8 bn through its maiden dollar bond issue in February 2020. It was able to buy back the maximum possible amount, as approved by the Reserve Bank of India, with the remaining amount due for maturity later on 23 April.

For the NBFC, the replacement cost on the fresh borrowing at a competitive rate is expected to result in significant savings in borrowing costs, as compared to its previous fundraising.

Consortium between Rail Vikas Nigam and Siemens

Last week, Rail Vikas Nigam, on Thursday emerged as lowest bidder (L1) for a Mumbai Metro project of Rs 3.8 bn.

The company revealed that it participated in consortium with Siemens India, an electric services company. Also, Siemens happens to be the lead partner with 60% share in the bid/project while Rail Vikas Nigam held 40% share in the same.

The Letter of Award (LoA) is yet to be issued.

Last month, Rail Vikas Nigam signed a memorandum of understanding (MoU) with Noida-headquartered infrastructure and renewable firm Jakson Green for clean energy engineering, procurement and construction (EPC) projects, globally.

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!

Read the latest Market Commentary


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