Sensex Today Ends 235 Points Higher, Nifty Above 17,700 | Suven Life Sciences & Laurus Labs Rally 7% | IT Stocks Shine Ahead of TCS Q4 Earnings

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After opening the day marginally higher, Indian share markets continued their momentum as the session progressed and ended higher.

Benchmark indices ended higher for 8th session on Wednesday as investors awaited retail inflation data for March (both for India and the US) later in the day and the official kickoff of the earnings calendar with TCS declaring its quarterly results today.

At the closing bell, the BSE Sensex stood lower by 235 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 99 points (up 0.5%).

Adani Enterprises, and Bajaj Auto were among the top gainers today.

Nestle, and NTPC on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,865 up by 79 points, at the time writing.

The BSE Midcap index rose 0.5% while the BSE SmallCap index ended 0.4% higher.

Sectoral indices ended on a mixed note with stocks in the IT sector and auto sector witnessing most of the buying.

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

Shares of Bajaj Auto and Bharat Dynamics 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 0.5% higher, while the Hang Seng fell 0.9%.

The rupee is trading at 82.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 60,692 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.5% at Rs 75,385 per kg.

Speaking of stock markets, real estate stocks are back in the news. The sector is in the middle of a recovery.

Home prices are stable and rising. But does this mean all realty stocks will do equally well?

Chartist Brijesh Bhatia answers these question in the below video.

Why Sula Vineyards share price is rising

In news from the breweries and distilleries sector, share price of Sula Vineyards zoomed 11% on Wednesday after the firm saw a jump of 30% year-on-year (YoY) in overall sales of elite and premium wines in the financial year 2023.

The company recorded its highest-ever annual revenues for its own brands and the wine tourism business.

In the March 2023 quarter, the company's own brands reported a 15% YoY growth, with sales volume surpassing 1 million (m) cases, including a significant milestone of 0.5 m cases for elite and premium wines.

On a provisional basis, Sula Vineyards' net revenue for the March 2023 quarter came in at Rs 1 bn from its brands and Rs 124 m from wine tourism, which represents room revenue, sale of food & beverages, merchandise, and all other ancillary services.

The company's wine tourism business continues to soar as total revenues touched Rs 800 m in the financial year 2023, as against Rs 440 m in the financial year 2019.

Going ahead, the management expects this to be Rs 1 bn business in the coming year.

Since liquor stocks interests you, check out top 5 liquor stocks in India.

Paras Defence inks pact with SpaceKawa Exploration

Moving on to news from the defence sector, share price of Paras Defence soared more than 3% on Wednesday after its subsidiary Paras Anti-drone Technologies signed a pact with Mumbai-based Spacekawa Explorations.

The pact is for the indigenous development and deployment of space intelligence, surveillance, and reconnaissance payloads, including RF wideband software-defined radio.

Through the agreement, the companies intend to develop technologies for space applications that can address the challenges of a rapidly changing world.

Paras Defence is a leading player in India's Defence and space industry and one of the very few Indian companies with specialised technology competencies like Optics and EMP (Electro-Magnetic Pulse) protection.

Speaking of the defense sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasized the need of self-reliance in security space.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD), has set a target of doubling the defense production to US$ 25 bn by 2025.

We believe the defence sector could produce the next set of multibagger stocks over the long run.

Why Sugar Stocks are rising today

Moving on to news from the sugar sector, shares of sugar companies zoomed up to 6% today as prices of the commodity soared in the global markets.

Sugar prices in India have also climbed more than 6% in the past two weeks and are likely to rise further as production is set to fall, and demand from bulk consumers could strengthen during the peak summer season.

Among individual stocks, Balrampur Chini Mills hit a fresh 11-month high of Rs 427.65, up 3% today.

While Dwarikesh Sugar Industries, Dhampur Sugar Mills, EID Parry and others sugar stocks gained in the range of 3% to 6%.

As per media reports, London's white-sugar futures surged by 2.7%, reaching their highest level since November 2011. As a result, the white premium, which signifies the price difference between refined and raw sugar, also reached record highs.

Meanwhile, the government has allocated an additional domestic quota of 0.2 m tons (10%) for April-2023. This allocation is over and above the 2 m tons allocated earlier.

Apart from that, elevated domestic and international sugar prices and increased ethanol volumes would support sugar companies operating profits.

Sugar stocks were shining last month too, with most frontline stocks up 10%, to know why check out why sugar stocks are rising.

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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