Sensex Today Trades Flat | Nifty Below 22,500 | JK Tyre Rallies 8%, Apollo Tyres 5%

Wed, 22 May 10:30 am

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Asian shares edged higher on Wednesday as anxious investors dared to hope AI-diva Nvidia could meet sky-high expectations, while keeping a wary eye on the outlook for US and UK interest rates.

MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 per cent, having already climbed for four straight weeks to reach a two-year top.

US stocks were mixed on Tuesday on Federal Reserve's monetary policy caution.

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	179.54	1.08	0.61%	179.82	177.31	179.95	115.83
Apple	192.35	1.31	0.69%	192.73	190.92	199.62	164.08
Meta	464.63	-4.21	-0.90%	470.7	462.27	531.49	244.95
Tesla	186.6	11.65	6.66%	186.88	174.71	299.29	138.8
Netflix	650.61	9.79	1.53%	650.88	634.22	650.88	344.73
Amazon	183.15	-0.39	-0.21%	183.26	180.75	191.7	113.78
Microsoft	429.04	3.7	0.87%	432.97	424.85	432.97	309.45
Dow Jones	39872.99	66.22	0.17%	39905.8	39778.73	40077.4	32327.2
Nasdaq	18713.8	39.61	0.21%	18721.18	18589.91	18721.18	13520.92

Source: Equitymaster

At present, the BSE Sensex is trading 63 points lower and NSE Nifty is trading 34 points lower.

Coal India, HUL and ITC are among the top gainers today.

Hindalco, Sun Pharma and BPCL 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 Smallcap index is trading 0.6% lower.

Sectoral indices are trading mixed, with socks in power sector, realty sector and FMCG sector witnessed buying. Meanwhile the stocks in power sector, banking sector and healthcare sector witnessed selling pressure.

The rupee is trading at Rs 83.26 against the US dollar.

In commodity markets, gold prices are trading 0.3% lower at Rs 73,767 per 10 grams 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...

Speaking of stock market, Research Analyst, Richa Agarwal, in her latest video talks about solar stocks. tariffs on EV batteries will be raised by over 100%. Duties on semiconductors will be up 50%. On photovoltaic cells used to make solar panels, the duties will be doubled.

The public on twitter can't celebrate this move enough. Companies in the solar ecosystem are in news. Some stocks in the sector have hit upper circuits.

If you are planning to join this frenzy, keep in mind the potential second order effects of this move.

Tune in for more

India Hits US$ 5 Trillion Mark

India's market capitalisation hit the US$ 5 trillion milestone on Tuesday, with the buoyant domestic markets adding US$1 trillion in market value in under six months.

This makes India the fifth country/region to join the exclusive US$ 5-trillion m cap club, alongside the US, China, Japan and Hong Kong.

India's mcap has seen a surge of over 60%- the highest among major markets -  from its lows in March 2023, driven by a rally in shares of small- and mid-sized firms. This increase in market value is attributed to a re-rating of valuations amid improved economic and earnings growth prospects compared to most global and emerging market peers.

India's market cap-to-GDP ratio is now at 154% compared to 120% in November 2023, when it first hit the US$ 4 tn mark.

When India achieved the milestones of US$ 500 million, US$ 1 tn, and US$ 2 tn market capitalisation, the mcap-to-GDP ratio was less than 100%, which is considered fair value.

The market cap of India has been bolstered in recent years by mega newly listed companies. For example, the Life Insurance Corporation, which was listed two years ago, has a market cap of US$ 78 bn.

In addition to LIC, the market value of the entire public sector undertaking (PSU) pack has seen a significant increase over the past year. India now boasts 100 stocks with an m-cap above US$ 10 bn, up from just 30 in the pre-Covid period. For comparison, China, whose m-cap is nearly double that of India, has just over 130 companies.

Adani Ports' Global Expansion Plan

The Adani Group is gearing up with a US$ 3-bn investment to bolster its port operations with an eye on the corridor that connects India to Europe.

The Gautam Adani-led conglomerate plans to increase its overall port handling capacity from around 600 million tonnes per annum to 800 million tonnes in the next two years. The expansion would primarily be achieved through a series of international acquisitions.

The Gautam Adani-led conglomerate plans to increase its overall port handling capacity from around 600 million tonnes per annum to 800 million tonnes in the next two years. The expansion would primarily be achieved through a series of international acquisitions.

The group manages its ports business under Adani Ports and Special Economic Zone Ltd (APSEZ). The US$ 3-bn capital expenditure is expected to be funded through a combination of cash reserves, internal accruals and debt.

The objective of the expansion is to increase the contribution of international ports to APSEZ's revenue from 10% to approximately 20-25% within the next three years.

The group operates port facilities in Israel, Sri Lanka, Indonesia, Tanzania, and Australia.

For more, check out FIIs are Buying into these 5 Adani Stocks. Take a look...

Apollo Tyre's stake sell

As many as 22.5 m shares, representing 3.5% of the total equity of Apollo Tyres changed hands during a pre-market block window.

The transaction value and the price at which the shares changed hands are yet to be ascertained.

According to the offer book, White Iris Investment Ptd Ltd, a subsidiary of the global private equity firm Warburg Pincus, was expected to offload its entire stake of 3.5%.

Warburg Pincus, through its subsidiaries, holds a substantial 13.5% stake in Apollo Tyres. Its arm, White Iris holds 3.5%, while another subsidiary, Emerald Sage Investment Ltd, holds 9.9%.

With the block deal, White Iris is expected to completely divest its entire stake in the company.

The block deal's offer size is expected to be around Rs 10.4 bn, with a floor price set at Rs 463 per share.

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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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

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