SGX Nifty Trades Flat, Vedanta's Ambitious Semiconductor Dream, Maruti's Green Drive, and Top Buzzing Stocks Today

Mon, 4 Jul Pre-Open

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On Friday last week, Indian share markets ended on a flat note. Benchmark indices erased most of the losses as buying returned in index heavyweight stocks.

At the closing bell on Friday, the BSE Sensex stood lower by 111 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 28 points (down 0.2%).

ITC and Bajaj Finance were among the top gainers.

Reliance and Power Grid, on the other hand, were among the top losers.

The BSE MidCap index and the BSE SmallCap index ended higher by 0.7% and 0.1%, respectively.

Sectoral indices ended on a mixed note with stocks in the FMCG sector, finance sector and realty sector witnessing most of the buying.

Energy stocks, on the other hand, witnessed selling pressure.

Shares of Voltamp Transformers and Insecticides India hit their 52-week highs.

HDFC Life ended 3% higher on Friday after falling for the past few consecutive sessions. HDFC Life share price is falling lately owing to a slowdown in new business premium.

Rice stocks in India are in focus lately after reports suggested India's rice stock could be barely over the buffer norms come 1 October.

On Friday, the domestic currency rupee was trading at 79.02 against the US$.

As the rupee falls, check out these five companies which stand to gain big from a weakening rupee.

Gold prices for the latest contract on MCX were trading up by 2.5% at Rs 51,764 per 10 grams at the time of Indian closing market hours on Friday.

At 8:00 AM today, the SGX Nifty was trading down by 20 points or 0.1% lower at 15,730 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Speaking of stock markets, India's #1 trader Vijay Bhambwani explains whether you should be bullish on gold after the new sanctions on Russia, in his latest video for Fast Profits Daily.

Tune in to the below video to find out more:

Top Buzzing Stocks Today

Indian Oil Corporation (IOC) share price will be among the top buzzing stocks today.

IOC will invest over Rs 7.4 bn to raise the capacity of its oldest oil refinery at Digboi in Assam.

The state-owned company said last week that its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities.

Maruti Suzuki share price will also be in focus today.

India's largest carmaker that stopped production of diesel cars will next phase out vehicles that run purely on petrol, as it seeks to align its product portfolio with the government's objective of reducing crude imports and emissions.

The transition of the entire portfolio to hybrid, flex-fuel, bio-fuel and pure electric vehicles will happen over the next seven to 10 years as per the current plans.

The company is working on several eco-friendly technologies, said CV Raman, the Suzuki Motor unit's chief technology officer.

Maruti Suzuki has also stepped up investments in transitional technologies.

India's Fuel Sales

India's petrol and diesel sales soared in June 2022 on the back of the start of cropping season, summer travels and overall pick up in economic activity, preliminary industry data showed.

The start of the cropping season helped diesel demand register a double-digit growth over the pre-pandemic period. This is a record in recent years.

Diesel saw sales jumping 35.2% YoY to 7.38 million tonnes in June. This was 10.5% higher than sales in pre-pandemic June 2019 and 33.3% more than June 2020.

Petrol sales by state-owned fuel retailers, which control roughly 90% of the market, at 2.8 million tonnes in June were 29% higher than the same period last year.

Note that oil refinery companies profited big time from higher crude oil prices. ONGC posted record margins.

But now, companies benefitting from the rising crude oil prices will see some effect in their profits as the government took away windfall gains by announcing tax on export of petrol and diesel.

This sent Reliance's shares tumbling 8% last week on Friday.

Vedanta's Ambitious Semiconductor Mission

In news from the semiconductor space, the Vedanta Group is expecting its semiconductor business turnover to be in the range of US$ 3 to 3.5 bn out of which around US$ 1 bn will come from exports.

The group's global managing director of display and semiconductor business Akarsh Hebbar said that its JV partner Foxconn has all the agreements and required technologies in place to start making electronic chips.

Vedanta Foxconn JV is among three companies that have applied for setting up semiconductor manufacturing units in the country.

Vedanta has also applied for setting up a display fabrication plant to make screens that are used for display in electronic devices.

The company expects to start manufacturing display units in 2024-25 and semiconductors by 2025-26.

Note that semiconductor stocks are a hot trend in equity market today and they will continue to prevail and be of utmost importance in the years to come.

This is almost a surety as India is on a path to become a semiconductor powerhouse.

If you are looking to invest in semiconductor stocks, keep a long term investing approach in mind.

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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