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Sensex Today Trades Higher | NTPC & Karnataka Bank Up 4% | Infosys, IndusInd Bank Top Gainers
Wed, 19 Jul 10:30 am

Sensex Today Trades Higher | NTPC & Karnataka Bank Up 4% | Infosys, IndusInd Bank Top Gainers

Asian stock markets are trading mixed note today as stocks extended their rally in the US while the New Zealand dollar climbed on easing inflation.

The Nikkei is trading 0.8% higher, and the Hang Seng index is trading lower 1.2%. While, Shanghai composite was down 0.3%.

U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years.

The Dow Jones Industrial Average ended 1.1% higher, and the tech heavy Nasdaq Composite ended up 0.8%.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet124.08-0.98-0.78%124.99123.3129.5583.45
Apple193.73-0.26-0.13%194.33192.42194.48124.17
Meta312.051.430.46%314.2307.62316.2488.09
Tesla293.342.961.02%295.26286.01314.67101.81
Netflix474.824.755.50%478.15448.78478.15188.4
Amazon132.83-0.73-0.55%133.86131.35146.5781.43
Microsoft359.4913.763.98%366.78342.17366.78213.43
Dow Jones34,951.93366.581.06%34,986.3634,530.6134,986.3628,660.94
Nasdaq15,841.35128.070.82%15,895.6815,607.7115,895.6810,440.64
Data 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 247 points. Meanwhile, the NSE Nifty is trading up by 72 points.

NTPC and Power Grid are among the top gainers today.

Asian Paints and Maruti Suzuki 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 0.6% higher.

Sectoral indices are trading on a positive note with the exception of auto sector. Stocks in consumer durable sector, and power sector witness selling.

Shares of MRF and ABB India hit their 52-week high today.

The rupee is trading at Rs 82.09 against the US dollar.

In commodity markets, gold prices are trading lower by Rs 24 at Rs 59,739 per 10 grams today.

Meanwhile, silver prices are trading marginally higher at Rs 76,159 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 the stock markets, the Indian stock market is on a roll. New highs are being scaled every week.

The sentiment among traders and investors alike is extremely bullish. So bullish in fact that it brings back memories of 1991.

So, what do the charts say? Are we seeing a repeat of the Harshad Mehta rally?

Find out in the below video...

Vedanta ties up for chips facility

Vedanta has tied up with technology and equity partners for its semiconductor fabrication project and with Innolux for its display fab unit.

In display fab, the company has a partnership with Innolux and is ready to proceed with the full support of its partner. Innolux is a Taiwan-based manufacturer of high-end LCDs and touch panels.

Innolux owns 14 TFT-LCD fabs and three touch sensor fabs in Taiwan. The company is yet to announce its partnership with Vedanta.

Hebbar did not specify the investments the group will make towards both units or clarify whether the investment figures will change following its split with erstwhile joint venture (JV) partner Foxconn.

The company had engaged with more than 100 global suppliers and ancillary industries that will form a key part of the semiconductor and display ecosystem. The Gujarat government had allotted land in Dholera, and work was already underway to prepare it for construction of the fabs.

However, central government approval and a letter of award are necessary for land allocation and beginning work in the designated area, noting that the letter had not been given to the company.

Also, as China tries to move up the technology supply chain with advanced chips, the US is getting wary, which makes semiconductors the top Indian megatrend.

SBI to set up a trustee company

State Bank of India (SBI) will set up a trustee company, which will be its wholly-owned subsidiary, for managing the orporate Debt Market Development Fund (CDMDF).

SBI Funds Management has been identified as the investment manager sponsor of the fund.

The company has approved setting up the trustee company as a wholly-owned subsidiary of the bank for managing the fund.

The proposal is also subject to regulatory approvals.

The setting up of the CDMDF was announced by markets regulator earlier this year.

The fund will act as a backstop facility for the purchase of investment-grade corporate debt securities to instil confidence amongst the participants in the corporate bond market during times of stress.

It will also help enhance secondary market liquidity by creating a permanent institutional framework for activation in times of market stress.

In times of market disruptions, there could be redemption pressure on open-ended debt schemes of mutual funds, especially the schemes that hold relatively lower-rated papers and lack of adequate liquidity in the corporate debt market.

Did you know that SBI is one of the 5 banks that posted record high profits in FY23?

Hero MotoCorp introduces new Xtreme 200S 4 Valve

After the launch of Hero Xtreme 160R 4V, two-wheeler maker Hero MotoCorp on Tuesday has introduced the new Xtreme 200S 4 Valve.

The new bike offers power-packed riding dynamics and sporty character combined with safety and everyday practicality, the company said in an exchange filing.

Smartphone connectivity is enabled with turn-by-turn navigation along with Bluetooth for call and SMS alerts, and the rear hugger makes the new Xtreme 200S 4V fully equipped for long travel for the city along with sporty riding.

The 200cc 4-valve oil-cooled engine offering 6% more power and 5% added torque, delivers a punchy performance.

The new launch might give an additional boost to Hero MotoCorp share price. In 2023 so far it is up 14.1%. In last one year it is up 10%.

chart

To know why Hero MotoCorp price is on the rise read our editorial on why Hero MotoCorp share price is rising.

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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