Sensex Today Trades Flat | CreditAccess Grameen Rises 6% | Bajaj Finserv & Titan Top Gainers

Mon, 19 Jun 10:30 am

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Asian shares markets are trading on a cautious note today after their best weekly run in five months, as investors looked ahead to China's rate decision and US Federal Reserve Chair Jerome Powell's testimonies for clues on the rate path ahead.

The Nikkei is trading lower by 1.2% and the Hang Seng index is trading 1.6% lower. The Shanghai Composite is down 0.5%.

The S&P 500 ended lower on Friday, weighed down by Microsoft and other market heavyweights as comments from two Federal Reserve officials curtailed optimism that the central bank is nearing the end of its aggressive interest rate hikes.

The Dow Jones Industrial Average ended 0.3% lower and the tech heavy Nasdaq Composite ended 0.7% lower.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	124.06	-1.73	-1.38%	126.70	123.79	129.55	83.45
Apple	184.92	-1.09	-0.59%	186.99	184.27	186.99	124.17
Meta	281.00	-0.83	-0.29%	287.85	280.13	287.85	88.09
Tesla	260.54	4.64	1.81%	263.60	257.21	314.67	101.81
Netflix	431.96	-13.31	-2.99%	447.51	430.90	448.65	169.70
Amazon	125.49	-1.62	-1.27%	127.90	125.30	146.57	81.43
Microsoft	346.62	-1.48	-0.43%	351.47	341.95	351.47	213.43
Dow Jones	34,299.12	-108.94	-0.32%	34,588.68	34,285.69	34,712.28	28,660.94
Nasdaq	15,083.92	-101.56	-0.67%	15,284.65	15,073.45	15,284.65	10,440.64

Source: Equitymaster

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

At present, the BSE Sensex is trading 20 points higher. Meanwhile, the NSE Nifty is trading down marginally.

Bajaj Finserv and Titan are among the top gainers today.

HUL and ICICI Bank on the other hand are among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading higher 0.5% and the BSE Small Cap index is up 0.6%.

Sectoral indices are trading on a mixed note. Stocks in the metal sector, consumer durables sector and capital goods sector witness buying.

On the other hand, stocks in the telecom sector and banking sector witness selling.

Shares of Abbott India and Britannia Industries hit their 52-week high today.

The rupee is trading at Rs 81.96 against the US dollar.

In commodity markets, gold prices are trading lower by Rs 28 at Rs 59,326 per 10 grams today.

Meanwhile, silver prices are trading higher by 0.3% at Rs 72,876 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, the stock price of US tech company Nvidia has soared by 25% after the management predicted a massive boom in demand for its computer chips in the latest earnings call.

The company expects to meet the needs of AI products such as ChatGPT.

Can Indian investors profit from such AI led boom in stock markets?

Co-head of Research at Equitymaster Tanushree Banerjee, answers this in the video below.

Tata Steel's big capex plan

Industry giant Tata Steel is planning a consolidated capital expenditure (capex) of Rs 160 billion (bn) for its domestic and global operations during the current financial year, according to its top management.

According to the company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee out of the planned amount, Tata Steel has earmarked Rs 100 bn towards standalone operations and Rs 20 bn for its subsidiaries in India.

Out of the Rs 100 bn capex, the Kalinganagar project will account for approximately 70%. The company is in process of expanding the capacity of its plant at Kalinganagar, in Odisha to 8 MT from 3 MT.

In Europe, Tata Steel Nederland will incur capex of Rs 11 bn on the relining of its blast furnace, which is underway. The remainder of the capex is largely allocated towards and will be spent on sustenance, environmental initiatives, and improvement projects.

Big capex plan might bring out Tata Steel out of its downward trajectory. Owing to major uncertainties in the Europe segment, Tata Steel share price was falling. In 2023 so far Tata Steel is down more than 3.8%.

To know more read our editorial on why Tata Steel share price is falling.

Highdell Investments sells stake in Kalyan Jewellers

Highdell Investment offloaded nearly Rs 7.3 bn worth of stake in Kalyan Jewellers, while BNP Paribas was among the top buyers with an investment of nearly Rs 1.9 bn. Citigroup, Franklin mutual funds, Employees Provident Fund, and Sundaram MFs were among other buyers.

Citigroup Global Markets Mauritius bought 44,20,866 equity shares in the jewellery company, while Employees Provident Fund purchased 2.2 m equity shares. Nomura India Investment Fund Mother Fund bought 8,502,316 equity shares, and Nomura Funds Ireland PLC also bought 3,598,743 equity shares.

Sundaram Mutual Funds such as Sundaram Balanced Advantage Fund, Sundaram Consumption Fund, and Sundaram Aggressive Hybrid Fund -- were also among buyers.

Also, Franklin Templeton Mutual Funds, Universal-Investment-Gesellschaft MBH, TINIESA, TNTBC as the Trustee of Nomura India Stock Mother Fund, AEMV, AVAW, and AVS-MF -- were other buyers.

Castrol India enters into partnership with Mahindra Insurance brokers

Lubes maker Castrol India has inked a pact with insurance broking firm Mahindra Insurance Brokers for the former's auto service workshops.

The Castrol India's workshops can offer automotive insurance products via a digital platform in addition to repair and maintenance services for their customers' vehicles.

Under the collaboration, auto auxiliary company will now have an option to empanel themselves as POSPs (Point of Sale Persons) for distribution of eligible insurance policies from domestic motor insurance providers through Mahindra Insurance Brokers.

Vehicle insurance accounts for a high 34% of the non-life insurance premiums in the country.

Castrol India, promoted by BP (British Petroleum), is one of the key lubricant manufacturers in India.

It's principally engaged in the business of manufacturing & marketing of automotive and industrial lubricants and related services.

The company's strong brand positioning and tie-up with major auto original equipment manufacturers (OEMs) allows it to command higher pricing power over its competitors. Castrol can be called as the price maker in the Indian automotive lubricant market.

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!

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Indian Share Market Update: Top Gainers and Losers