Indian Share Markets Trade Flat; Kotak Mahindra Bank and HDFC Top Gainers

Fri, 22 Jul 10:30 am

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Most of the Asian share markets reversed early losses and emerged above water in today's trade, following a surprise aggressive rate hike by the European Central Bank.

The Nikkei rose 0.3% while the Hang Seng was up by 0.7%. The Shanghai Composite is trading higher by 0.3%.

Wall Street's main indexes rose on Thursday boosted by a late-afternoon rally and gains in heavyweight growth stocks, including Tesla.

Stocks extended their winning streak, and the gains came amid a deluge of news about the economy, interest rates and corporate profits.

The Dow Jones rose by 0.5% while the tech heavy Nasdaq was up 1.4%

Back home, Indian share markets are trading on a flat note with a positive bias, tracking positive global cues.

Benchmark indices opened on a positive note today following the trend on SGX Nifty.

At present, the BSE Sensex is trading higher by 92 points. Meanwhile, the NSE Nifty is trading up by 30 points.

Kotak Mahindra and HDFC are among the top gainers today.

Infosys and Wipro are among the top losers today.

IndusInd Bank share price is in focus after it reported Q1 results.

Broader markets are trading mixed. The BSE Mid Cap index is up by 0.1% while the BSE Small Cap index is trading higher by 0.1%.

Sectoral indices are trading mixed. Stocks in the IT and oil and gas sector witness selling.

Stocks in the bank and healthcare sector most of the buying.

Bajaj Auto and Eicher Motors hit their 52-week highs today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

In the commodity markets, gold prices remain flat. Today gold is trading at Rs 50,375 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading lower at Rs 55,332 per kg. Silver price too had fallen a lot in recent days.

The rupee is trading at 79.89 against the US dollar.

The rupee fell yesterday and closed at 79.85 against the US$.

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

After getting a bird's eye view of the market, do you want to get a full analysis on how the markets will perform today? You know how the market started but do you want to know how the markets will close today?

In the below video, Chartist - Brijesh Bhatia does a complete analysis of today's market.

Tune in to the below video to know more.

Also, speaking of stock markets, at times where share market has been consistently inconsistent, it's becoming increasingly difficult to predict the price pattern of any share.

Crude oil prices are falling and there are rumors that central banks may go slow on rising interest rates.

So no one know how long the stock market recovery will continue.

Hence, it becomes important to have a system in place where in your investments and returns both, can also be regularised. This can be done by Systematic Investment Plans (SIP).

Rahul Shah - Editor and Research Analyst at Equitymaster, explained how SIP would benefit an investor, if the investor invests in SIPs in the bull market.

He showed through the following chart how returns would have progressed if an investor would have held on to investment in SIP for a period of 15-18 months.

In news from the banking sector, RBL Bank posted its Q1 results.

Private lender RBL Bank reported net profit of Rs 2 bn in the June quarter as against net loss of Rs 4.5 bn in the year-ago period.

The gross Non-Performing Assets (NPAs) of the bank declined to 4.1% of the gross advances as of 30 June 2022, from 4.4% registered in March quarter.

Net NPAs too eased to 1.2% from 1.3% witnessed in Q4 of fiscal 2023.

As a result, the bank's provisions and contingencies fell to Rs 2.5 bn as compared to Rs 13.8 bn in Q1 fiscal 2023.

Improved financial statements may finally bring some good news for investors, because of late, RBL Bank share price was falling.

In news from the metal sector, Hindustan Zinc also posted its Q1 results yesterday.

On Thursday, Vedanta group firm Hindustan Zinc reported a 55.9% year-on-year (YoY) rise in net profit to Rs 30.9 bn for the quarter ended on 30 June 2022. The firm had posted a net profit of Rs 19.8 bn in the corresponding quarter of the previous fiscal.

The revenue from operations during the quarter under review came at Rs 93.8 bn, an increase of 43.7% YoY, led by higher zinc volumes and zinc LME prices as well as favourable exchange rates while partly offset by lower silver prices.

EBITDA for the quarter came at Rs 52.8 bn, up 48.3% YoY, primarily due to higher zinc LME and volumes. Sequentially EBITDA was up 5.4% on account of higher zinc LME prices and lead and silver volumes partly offset by higher cost.

As on 30 June 2022, the company's gross investments and cash and cash equivalents were Rs 242.5 bn as compared to Rs 207.9 bn at end of March 2022.

The company's net investments at the end of June quarter was at Rs 214.4 bn as compared to Rs 179.7 crore at end of March 2022.

Hindustan Zinc is one of the 5 stocks paying dividend this week.

It is also a stock whose 7 year average dividend yield is above 8!

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