SGX Nifty Down 104 Points, Rising Bond Yields, HCL Tech's Latest Acquisition, and Top Buzzing Stocks Today

Tue, 10 May Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, Indian share markets ended on a negative note fueled by fears about the economic outlook, owing to the weakening of rupee.

Benchmark indices plunged tracking weak global cues as Wall Street indices and Asian markets fell on anxiety over higher interest rates.

At the closing bell on Monday, the BSE Sensex dipped 365 points, ending 0.7% lower.

Meanwhile, the NSE Nifty was down 109 points, ending at 16,302.

The two-day slump in the equity market has eroded Rs 7.7 tn from the market capitalization of BSE-listed companies.

Power Grid, Infosys, and HCL Technologies were among the top gainers.

Reliance Industries, IndusInd Bank, and Tata Steel were among the top losers.

The broader markets ended deep in red as the BSE Mid Cap index plummeted 1.9% while the BSE Small Cap index dipped 1.7%.

Barring IT, all sectoral indices ended in red with stocks in the FMCG sector, metal sector, energy sector, and banking sector witnessing most of the selling.

Shares of Power Grid and Coromandel International hit their 52-week high.

At 7:50 AM today, the SGX Nifty was trading down by 104 points or 0.6% lower at 16,180 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Speaking of stock markets, Co-head of Research at Equitymaster Tanushree Banerjee talks about how to create wealth from 1% of listed stocks, in her latest video.

Tune in to the below video to find out more:

Top Buzzing Stocks Today

One 97 Communications Paytm will be among the top buzzing stocks today.

One97 Communications, which runs the digital payments firm Paytm, has granted 3.97 m new stock options to employees. According to the company's filings, the exercise price of these stock options is Rs 9 each.

HCL Technologies share price will also be in focus today.

HCL Technologies UK, a wholly-owned subsidiary of HCL Technologies, has signed an agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist.

With this strategic acquisition, the leading global technology company aims to increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation, and management capabilities, the company said in a statement.

Market participants will also track shares of Asian Paints, Cipla and MRF as these companies will announce their March quarter results later today.

Made in India push from the Indian Army

On Saturday this week, Lieutenant General BS Raju, Vice Chief of Army Staff inaugurated the North Tech Symposium, an annual event conducted at Udhampur which acts as a platform for an exchange of ideas between the Army and domestic firms.

This year 162 companies from the Indian defence sector exhibited their products. In addition, 42 innovative solutions by Army establishments towards the enhancement of combat potential of the Army were also on display.

Providing a major push to the native defence industry, the Vice Chief said that Indian Army's almost all approvals will go to the local manufacturers.

The Preliminary Staff Qualitative Requirements (PSQRs) that specify to the vendor the exact equipment being asked for, the functional characteristics of the hardware or software, costs and the timeline for delivery would be issued on a reasonable basis for the companies to produce comfortably.

The Vice Chief mentioned that if their equipment can meet even 80% of the Army's aspirations, then the force will go ahead and issue orders.

The Army in the last two years has entered into contracts worth Rs 400 bn with the Indian industry, according to the Vice Chief's statement.

Wish to invest in defence stocks through the route of mutual funds? Check out this article to know about the 5 Mutual Funds with High Exposure to Defence Stocks.

Centre wants RBI to lower bond yields

According to a report, India has asked its central bank to either buy back government bonds or conduct open market operations to cool yields, as inflation risks push foreign investors to sell.

On Monday, the 10-year benchmark bond ended at Rs 93.7, yielding 7.46% after reaching a high of 7.49%, which is the highest since 2019.

The report mentioned that RBI will decide on the timing and size of any bond purchases next week.

It expects the RBI to conduct a switch operation, offering investors a chance to exchange their short-dated bonds for debt with a longer maturity, or to buy back government bonds within the next two weeks.

The request from the government could complicate the RBI's monetary tightening policy.

In its first hike in nearly four years, the RBI surprised markets last week by raising repo rate by 40 basis points to 4.40% to combat inflation.

According to traders, foreign portfolio investors have sold US $697 m of government securities since 1 April and US $1.2 bn this year in total.

India's foreign exchange reserves fell by US $2.7 bn to US $597.7 bn on 29 April, according to RBI data, marking the eighth straight week of declines and the first time falling below US $600 bn in a year.

We will keep you updated on the latest developments from this space. Stay tuned.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers