Asian shares markets are trading on a mixed note as the rally in global equities shows signs of wavering and investors fret over China's tepid post-pandemic recovery.
The Nikkei is trading lower by 0.4% and the Hang Seng index is trading 1.5% lower. The Shanghai Composite is down 0.2%.
US stock markets were closed on Monday on account as the country observed Juneteenth.
Back home, Indian share markets are trading on a flat note.
At present, the BSE Sensex is trading 277 points lower. Meanwhile, the NSE Nifty is trading down by 68 points.
Power Grid and Wipro are among the top gainers today.
Bajaj Twinds and M&M 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 marginally and the BSE Small Cap index is up 0.2%.
Sectoral indices are trading on a mixed note. Stocks in the metal sector, power sector and utilities sector witness buying.
On the other hand, stocks in the auto sector and banking sector witness selling.
Shares of Dixon Technologies and Interglobe Aviation hit their 52-week high today.
The rupee is trading at Rs 82.11 against the US dollar.
In commodity markets, gold prices are trading higher by Rs 98 at Rs 59,255 per 10 grams today.
Meanwhile, silver prices are trading higher marginally at Rs 72,470 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.
India's largest airline IndiGo on Monday has placed an order for 500 Airbus A320 Family aircraft, the biggest-ever single aircraft purchase by any airline with Airbus and this eclipses Tata-owned Air India's record 470 aircraft order set in March.
The record deal looks to further boost IndiGo's leadership in India, the third largest aviation market, and also fuel expansion in international destinations. Moreover, air travel has rebounded from pandemic-led gloom and the Asian nation is seeing rapid increase in consumer spending and fondness for taking flights.
The latest agreement takes the total number of Airbus aircraft on order by IndiGo to 1,330, establishing its position as the world's biggest A320 Family customer. The latest order will also provide IndiGo a further steady stream of deliveries between 2030 and 2035.
InterGlobe Aviation, the parent company of IndiGo, had earlier got the board's nod to order 500 Airbus aircraft, a deal that is estimated to be worth some US $ 50 billion (bn) (about Rs 4,106.7 bn) at the most recently published Airbus list prices.
The actual cost of the order is expected to be significantly lower, as substantial discounts are typically applied to such big acquisitions.
With a commanding 56% share of the domestic Indian market, the airline company has capitalised on its expansive fleet to launch new flights, seizing a disproportionate market share while competitors grappled with challenges.
In fact, IndiGo's latest order comes at a time when it has yet to receive nearly 500 jets from its existing order of 830 Airbus A320-family planes, solidifying its position as one of the largest customers of the esteemed European group.
With this additional firm order of 500 aircraft for 2030-2035, IndiGo's order-book has almost 1,000 aircraft yet to be delivered well into the next decade. This IndiGo order-book comprises a mix of A320NEO, A321NEO and A321XLR aircraft.
Speaking of Indigo, after Go First's bankruptcy IndiGo share price was rallying. In 2023 so far, IndiGo share price is up 19.9%.
Market regulator on Monday barred IIFL Securities from taking new clients for 2 years.
The market regulator prohibited the IIFL Securities from taking up/onboarding any new client for a period of two years in respect of its business as a stock broker.
The order came after the market regulator conducted multiple inspections of the books of account of IIFL for the period April 2011 to January 2017.
In its probe, the market regulator found that IIFL has misused the funds of its credit balance clients for settlement of its proprietary trades as well as the trades of its debit balance clients from April 2011 to June 2014, and the said violations were again noticed during March 2017 inspection for the period of financial year 2015-16 and 2016-17.
The funding of debit balance clients' trades using funds of credit balance clients has been done by IIFL on a total of 795 trading days out of 809 total trading days covered for examination during the inspection period from 1 April 2011, to 30 June 2014, and on 30 trading days during 1 April 2015, to 31 January 2017.
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