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Sensex Today Trades Higher | Nifty Above 24,100 | CDSL Jumps 6%, CRISIL 4%
Fri, 28 Jun 10:30 am

Sensex Today Trades Higher | Nifty Above 24,100 | CDSL Jumps 6%, CRISIL 4%Image source: ThinkNeo/www.istockphoto.com

Equities in Asia followed gains in US stocks and Treasuries ahead of the Federal Reserve's preferred inflation gauge due Friday.

Shares in Japan's benchmark Topix index were set for a 34-year high. South Korean stocks climbed, while futures for Hong Kong were slightly lower.

US stocks were little changed on Thursday as investors assessed fresh economic data ahead of an inflation reading key to Federal Reserve policy.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet186.861.490.80%187.5185.45187.5115.83
Apple214.10.850.40%215.74212.35220.2164.08
Meta519.566.441.26%522.88513.9531.49274.38
Tesla197.421.050.53%198.72194.05299.29138.8
Netflix684.346.650.98%688.57678.14689.88344.73
Amazon197.854.242.19%199.84194.2199.84118.35
Microsoft452.850.690.15%456.17451.77456.17309.45
Dow Jones39164.0636.260.09%39250.6939026.7540077.432327.2
Nasdaq19789.0337.980.19%19850.8119701.3419979.9314058.33
Data Source: Equitymaster

At present, the BSE Sensex is trading 287 points lower and NSE Nifty is trading 88 points higher.

ONGC, Coal India and Sun Pharma among the top gainers today.

Adani Ports, BPCL and Grasim industries 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 is trading 0.4% higher and the BSE Smallcap index is trading 0.7% higher.

Barring auto sector all other sectoral indices are trading on positive note today, with socks in metal sector and energy sector witnessing most buying.

The rupee is trading at Rs 83.41 against the US dollar.

In commodity markets, gold prices are trading 0.2% lower at Rs 71,406 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 the stock market, two experienced fund managers, James Chanos (US) and Sankaran Naren (India), are concerned about high speculation and low margins of safety in their respective stock markets. This means there's a greater risk of losses if the market crashes.

The advice? Invest cautiously. Consider "stock market insurance".

Rahul Shah, Co-head of research at Equitymaster, talks about what exactly is this insurance and how does it work?

Tune into below video for more details.

BHEL's New Order Win

Bharat Heavy Electricals Ltd (BHEL) announced that it has secured a contract worth Rs 133 bn to establish a 1600 MW thermal power plant in Koderma, Jharkhand. The contract was awarded by the Damodar Valley Corporation (DVC) as part

of the government's initiative to bolster the nation's energy security.

According to a statement from the Ministry of Power, DVC has finalised the tender for the engineering, procurement, and construction (EPC) package of the Koderma Thermal Power Station (2X800MW).

This project, scheduled to be completed by BHEL, is expected to enhance DVC's installed thermal generation capacity to 8140 MW by 2030.

The investment is anticipated to bring substantial economic benefits to the region and its residents.

BHEL is primarily known for its contributions to India's energy and infrastructure sectors, it also plays a vital role in the nation's space program.

BHEL has established itself as a key supplier of space-grade solar panels for ISRO's satellites.

Vodafone Idea's Spectrum Spend

Vodafone Idea's higher-than-expected spending in the just-concluded 5G spectrum auction is set to bolster the telco's networks and stem market share shifts towards stronger rivals Reliance Jio and Bharti Airtel, paving the way for much-delayed tariff hikes this fiscal.

They added that Vi's spectrum spends of about Rs 3,510 crore - almost 12 times its Rs 300 crore earnest money deposit (EMD) - on the heels of a recent fundraising of about Rs 230 bn, suggests the telco is preparing for network rollouts and plans to use its fresh 900 MHz spectrum to enhance 4G experience and rein in customer losses.

Bolstered by the equity funding, Vi bought 30 MHz of airwaves, contributing to 31% of the Rs 113.4 bn auction proceeds.

The JV between UK's Vodafone and India's Aditya Birla Group is targeting Rs 55,000 crore capex spending over the next three years toward 4G expansion and 5G rollouts, vital for its survival and its ability to fight bigger rivals Jio and Airtel, who have already rolled out pan-India 5G networks.

Vodafone Idea is an Aditya Birla Group and Vodafone group partnership. It's among India's leading telecom service providers.

The company provides pan India voice and data services across 2G, 3G, and 4G platforms.

Vodafone Idea Share Price - 1 Year Performance

Reliance Jio Hikes Tariffs

The most active plan saw the sharpest hike - 28 days validity with 1.5 GB of data per day. Another popular plan, which came with a validity of 84 days, saw an increase of 20% from Rs 799.

The announcement comes a day after Jio acquired 14.4 MHz of spectrum in the 1800 MHz band, amounting to ?973 crore, in the just-concluded auction.

India's spectrum auction concluded within a few hours of bidding on Day 2 on 26 June, with telecom service providers (TSPs or telcos) buying over Rs 113 bn worth of radio waves in all, which is just 12% of the Rs 962.4 bn minimum value that the government had estimated for the spectrum on offer.

Experts suggest the telecom sector is set to witness an eventful second half of the year, given the impending tariff hikes - Bharti Airtel and Vodafone Idea have yet to announce hikes but will surely follow - and potential 5G monetisation.

The last hike was seen in December 2021, when rates were increased by 20%.

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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