Sensex Today Trades Flat | Dish TV Surges 8% | HDFC Twins & Wipro Top Losers

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Asian stocks are trading lower today following a holiday for US markets. Treasury yields moved lower and major currencies were little changed.

The Nikkei is trading 0.4% lower, and the Hang Seng index is trading lower by 1.4%. While, Shanghai composite was down 0.5%

US markets were closed on account of 4 July 2023.

Back home, Indian share markets are trading on a flat note following the trend on Gift Nifty.

At present, the BSE Sensex is trading lower by 56 points. Meanwhile, the NSE Nifty is trading down by 3 points.

IndusInd Bank and ICICI Bank are among the top gainers today.

HDFC Twins and Wipro on the other hand are among the top losers today.

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

Sectoral indices are trading on a positive note with the exception of realty sector, banking sector, and financial sector. Stocks in the FMCG sector and power sector are witnessed most of the buying.

Shares of Bajaj Finance and LTI Mindtree 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 51 at Rs 58,460 per 10 grams today.

Meanwhile, silver prices are trading marginally lower at Rs 69,614 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...

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Suzlon Energy to raise funds

Suzlon Energy on Tuesday announced that company's board of directors would consider a proposal to raise capital on 7 July 2023.

The company announced that the raising of capital would be by way of one or more or combination of permissible methods.

Renewable energy solution provider, Suzlon posted a consolidated net profit of Rs 3.2 billion (bn) for the March 2023 quarter, mainly due to lower expenses. The company reported a consolidated net loss of Rs 2.1 bn in the quarter ended on 31 March 2022.

Its total income from operation dipped to Rs 17 bn in the quarter from Rs 24.8 bn a year ago.

The total expenses of the company also declined to Rs 16.3 bn in the quarter from Rs 25.1 bn.

It has also posted a consolidated net profit of Rs 28.9 bn for the full financial year 2022-23. It had reported a net loss of Rs 1.8 bn in 2021-22.

Suzlon Energy share price has been in uptrend for the last one and half months and the energy stock has delivered more than 100% return in this time.

In last one month, it logged near 50% rise.

Moreover, the recent technical breakout from a long-standing resistance level further reinforces the notion this could be a new beginning for the stock.

The breakout suggests the stock has managed to overcome significant selling pressure and has entered a potentially bullish phase.

This development has attracted attention from traders and investors, who see it as a signal of a possible upward trend in the stock's price.

Let us take a look at weekly trading chart of the company:

 

To understand what the technical chart shows, read our editorial on Suzlon Energy share price: technical breakout suggests bullish trend.

LTI Mindtree to replace HDFC on Nifty 50

Due to merging under HDFC Bank, the stock exchange NSE on Tuesday announced replacement against HDFC share price on its indices.

On the mainboard Nifty 50, tech player LTI Mindtree will replace the housing finance giant with effect from 13 July 2023. Not just that, many other stocks will be replacing HDFC on several indices on NSE including financial services, Nifty 200, Nifty 500 and services sectors among others.

Further, on Nifty 100, metal giant Jindal Steel & Power (JSPL) will replace HDFC and the same will be applicable on the Nifty100 Equal Weight index.

With LTI Mindtree entering Nifty 50, the stock will be replaced by JSPL on Nifty Next 50.

Also, Mankind Pharma will replace HDFC on Nifty 500, Nifty 200, Nifty LargeMidcap 250, and Nifty Total Market.

HDFC will also exit the environmental, social, and corporate governance (ESG) indices such as Nifty100 ESG, Nifty100 Enhanced ESG, and Nifty100 ESG Sector Leaders.

With effect from 1 July HDFC Bank has successfully completed the merger of HDFC after the receipt of all requisite shareholder and regulatory approvals.

However, 13 July is fixed as the record date for the share swap between HDFC Bank and HDFC as part of the merger.

HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of Rs 1/- each, credited as fully paid-up, for every 25 equity shares of the face value of Rs 2 each fully paid-up held by such shareholder in HDFC as on 13 July 2023.

Samvardhana Motherson International to buy stake in a Japanese company

Auto parts maker Samvardhana Motherson International (SAMIL) announced on 4 July that it will buy a majority stake of 81% in Japan-based auto-part maker Yachiyo Industry's four-wheeler (4W) business - a subsidiary of Honda Motor.

The transaction is valued at 22.9 bn Japanese yen.

The acquisition requires approval from authorities in China, Brazil, United States, as well as the Reserve Bank of India.

Yachiyo makes automobile parts like sunroofs, fuel tanks and resin products.

The acquisition will provide SAMIL access to research and development capabilities and foray into the global sunroof market and also pursue other partnerships with Honda, the Bengaluru-based company said in a statement.

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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Indian Share Market Update: Top Gainers and Losers