Sensex Today Hits Record High, Nity Crosses 19,800 Mark | Mahindra Logistics Rises 7% | Infosys & ICICI Bank Top Gainers

Tue, 18 Jul 10:30 am

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Asian stock markets are trading mixed today as China's sluggish economic recovery triggered growth forecast cuts and a warning from US Treasury Secretary Janet Yellen that it could cause ripple effects across the global economy.

The Nikkei is trading marginally higher, and the Hang Seng index is trading lower 2.1%. While, Shanghai composite was down 0.4%.

US stocks ended higher to kick off the trading week on Monday, buoyed by gains in financial and technology shares as investors awaited the next round of quarterly results this week as earnings season gathers speed.

The Dow Jones Industrial Average ended 0.2% higher, and the tech heavy Nasdaq Composite ended up 1%.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	125.06	-0.64	-0.51%	127.28	124.50	129.55	83.45
Apple	193.99	3.30	1.73%	194.32	191.81	194.48	124.17
Meta	310.62	1.75	0.57%	311.71	304.71	316.24	88.09
Tesla	290.38	9.00	3.20%	292.23	283.57	314.67	101.81
Netflix	450.05	8.14	1.84%	456.68	445.11	456.68	188.40
Amazon	133.56	-1.12	-0.83%	135.62	133.21	146.57	81.43
Microsoft	345.73	0.49	0.14%	346.99	342.20	351.47	213.43
Dow Jones	34,585.35	76.32	0.22%	34,665.15	34,418.72	34,712.28	28,660.94
Nasdaq	15,713.28	147.68	0.95%	15,745.67	15,576.51	15,745.67	10,440.64

Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 220 points. Meanwhile, the NSE Nifty is trading up by 60 points.

Infosys and Axis Bank are among the top gainers today.

Titan Bharti Airtel on the other hand are among the top losers today.

Broader markets are trading on a positive note. Both the BSE Mid Cap and the BSE Small Cap index are trading marginally higher.

Sectoral indices are trading on a mixed note. Stocks in the consumer durable sector, metal sector, and realty sector witness selling.

On the other hand, stocks in the banking sector and power sector are witnessed most of the buying.

Shares of P&G Hygiene and Laxmi Machine hit their 52-week high today.

The rupee is trading at Rs 82.07 against the US dollar.

In commodity markets, gold prices are trading higher by Rs 141 at Rs 59,276 per 10 grams today.

Meanwhile, silver prices are trading higher by 0.3% at Rs 75,801 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, is the risk-reward of investing in Dixon Technologies still in favour of investors?

Is it possible to give a view on a stock without even looking at its fundamentals or the business model?

A lot of investors would consider this as ridiculous. Some may even call it blasphemy.

After all, one needs to have a thorough understanding of the business model and the financials before one can make a sound judgement on a stock.

However, Rahul Shah, co-head of research at Equitymaster has done this exercise for Dixon Technologies and he believes it is an effective way to approach stock analysis.

Check out in the below video the exact details of this approach.

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.

As an individual investor, you need to sit tight over high conviction stocks and invest consistently to see the magic of compounding.

LTI Mindtree Q1 results

LTI Mindtree on 17 July declared a consolidated net profit of Rs 11.5 billion (bn) in the first quarter of the financial year 2023-24, which marks a jump of 4% as compared to 11.1 bn reported in the year-ago period.

The revenue from operations in Q1FY24 climbed by 14% on-year to Rs 87 bn, as per a regulatory filing. It was, however, marginally lower to market expectations.

The net profit clocked by the company, Rs 11.5 bn, is 3.6%.

The earnings before interest, tax depreciation and amortisation (EBITDA) came in at Rs 16.4 bn during the quarter under review, which is 9% higher as compared to the year-ago period. The EBITDA margins, however, dropped to 18.8% from 19.5% in Q1FY23.

In terms of industries, the IT company recorded the highest growth in BFSI segment at 12 %, and a 1% growth in other key verticals such as hi-tech, entertainment and media.

Geography-wise, the revenue growth was highest at 10% in the North America region, followed by 7% in Europe. For the rest of the world, the revenue declined by 2.6%.

LTIMindree recorded total deal wins worth US$ 1.41 bn in Q1FY24 and added 19 more clients during the three-month period to take the overall client count to 723.

Did you know LTI is one the emerging bluechip stocks of 2023?

Maruti Suzuki adds pedestrian safety feature in Grand Vitara

Maruti Suzuki India on Monday said it has introduced a pedestrian safety vehicle alarm feature in the electric hybrid variants of its SUV Grand Vitara, which will push up prices by up to Rs 4,000.

The auto company announced the addition of Acoustic Vehicle Alerting System or AVAS for the intelligent electric hybrid variants of the Grand Vitara.

This technology is designed to help keep drivers and pedestrians safe by alerting them about the presence of a vehicle.

The system works by emitting a low-level alert sound that can be heard up to five feet away, giving pedestrians and other nearby drivers a heads-up that a vehicle is nearby, it added. The addition of AVAS for pedestrian safety makes Grand Vitara compliant with upcoming regulations.

The price change in these variants of the Grand Vitara ranges up to Rs 4,000 (ex-showroom Delhi) effective from 17 July 2023.

The electric hybrid variants of the Grand Vitara are priced at Rs 18.3 lakh and Rs 19.8lakh (ex-showroom Delhi).

Speaking of Maruti Suzuki, it is one of the 5 stocks declaring more than 1000% dividend in August 2023.

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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Indian Share Market Update: Top Gainers and Losers