Sensex Today Ends 159 Points Higher | Saregama Rallies 10% | Tata Motors and HCL Tech Among Top Gainers

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After opening the day lower, Indian share markets  staged a smart recovery in the final hours and ended higher.

Benchmark indices ended in green helped by a late rally as investors remained cautious for most of the session ahead of the Fed Chair testimony.

At the closing bell, the BSE Sensex stood higher by 159 points (up 0.3%).

Meanwhile, the NSE Nifty closed up by 61 points (up 0.3%).

Tata Motors and HCL Tech were among the top gainers today.

BPCL and Sun Pharma on the other hand, were among the top losers today.

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

The SGX Nifty was trading at 18,885, up by 11 points, at the time of writing.

Broader markets ended higher. The BSE Midcap index ended 0.3% higher and BSE SmallCap ended 0.5% higher.

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

On the other hand, stocks from the oil & gas sector and energy sector witnessed selling pressure.

Shares of HEG and Radico Khaitan hit their 52-week highs 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...

Asian stock markets ended on a mixed note. The Nikkei ended marginally higher, while the Hang Seng ended 1.5% lower. The Shanghai Composite ended 0.5% lower.

The rupee is trading at 82.11 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 59,280 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading lower by 0.2% at Rs 72,300 per kg.

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.

RVNL Shares fall 3% today. Here's why...

In news from the engineering sector, shares of railway PSU firm Rail Vikas Nigam (RVNL) fell 3% today.

The decline was seen after its joint venture deal with Russia's CJSC Transmashholding (TMH) to manufacture and maintain 120 Vande Bharat trains broke down.

TMH did not agree to RVNL's demand for a larger stake in the JV and thus has not deposited the bank guarantee of nearly Rs 2 bn (billion) required for the project to get started.

RVNL has recently been on a positive run bagging three orders in the last two months. It received a letter of award from North Central Railways for providing automatic signalling and continuous track circuiting in Jhansi. It has won similar orders from the Madhya Pradesh Railways and Udaipur.

RVNL was established in 2003 as a wholly owned Public Sector Undertaking (PSU) of the Ministry of Railways.

RVNL stands among the best railway stocks in India.

From April 2022 to April 2023, RVNL delivered a multibagger return of 204.2%.

The shares of RVNL saw a massive spike of 40% in 4 days in April 2023. To know what is driving the rally, check out our editorial- Railway stocks Zoom 40% in 4 Days! More details inside.

Rail Vikas Nigam is one of the 5 penny stocks with a high dividend yield.

Why ZEE Entertainment's shares hit 52-week low today?

Moving on to news from the media sector, shares of Zee Entertainment Enterprises on Tuesday plunged 7% to hit a fresh 52-week low amid concerns over a merger with Sony.

The Securities Appellate Tribunal (SAT) adjourned the Zee plea against a Sebi order till 26 June 2023, delaying the entertainment major's merger with Sony Pictures.

Sebi took action against Essel Group Chairman Subhash Chandra and Punit Goenka last week, alleging that the Rs 2 billion (bn) repaid to Zee by seven borrowing entities originated from Zee, and the company did not receive any funds. The entries were just 'book entries'.

The market regulator has barred the father-son duo from holding any key managerial positions.

The council has also asked for a stay on Sebi's interim order.

Now, Goenka is the MD and CEO of the Zee-Sony merged company, as per the scheme of arrangement. As the case drags on, the proposed merger faces more roadblocks.

Zee Entertainment Enterprises is one of India's leading media and entertainment companies.

The share price of the company took a beating in January 2022, declining 12% in a month, and has been falling since then, down 28% in 2023. To know why, check out why Zee Entertainment share price is falling.

Timken Inida's stake sell

Moving on to news from the auto ancillary sector, shares of Timken India cracked 11% today after the company's parent Timken Singapore Pte sold a stake in its Indian subsidiary in a bulk deal.

As per media sources, Timken Singapore had decided to sell as many as 6.3 m shares, or 8.4% of the total equity of the company, through a block deal at a floor price of Rs 3,000 per share which is a 14% discount to Rs 3,488.7 per share close of the stock on NSE on 19 June 2023. The base offer size of the deal was ?1,890 crore.

BofA Securities was the broker of the deal.

As per the shareholding data available on BSE, Timken Singapore Pte. held 67.8% shares in the company as of March 2023.

Auto ancillary stocks are a perfect proxy play on the revival of the automobile sector. Check out the top 5 auto ancillary companies in India by growth.

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

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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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Indian Share Market Update: Top Gainers and Losers