Sensex Drops 400 Points, Nifty Falls Below 16,600; Reliance & ONGC Top Losers

Mon, 25 Jul 10:30 am

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Asian share markets started on a negative note today following losses on Wall Street, with traders looking ahead to a Federal Reserve policy meeting later in the week, amid the economic slowdown fears.

The Nikkei fell 0.9% while the Hang Seng was down by 0.6%. The Shanghai Composite is trading lower by 0.3%.

Wall Street indices ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.

The Dow Jones fell by 0.4% while the tech heavy Nasdaq was down 1.9%

Back home, Indian share markets are trading on a negative note.

Benchmark indices opened on a negative note today following the trend on SGX Nifty. Soon as the session progressed, losses were extended as Reliance fell 4%.

At present, the BSE Sensex is trading lower by 414 points. Meanwhile, the NSE Nifty is trading down by 116 points.

Tata Steel and Bharti Airtel are among the top gainers today.

M&M and Reliance are among the top losers today.

HDFC AMC share price is in focus after it reported Q1 results on Friday.

Broader markets are trading on a negative note. The BSE Mid Cap index is up by 0.3% while the BSE Small Cap index is trading higher by 0.5%.

Sectoral indices are trading on a negative note with the exception of consumer durables and industrial sectors. Stocks in the FMCG and oil and gas sector witness selling.

Adani Enterprise hit its 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 are falling again. Today, gold is down by Rs 32 trading at Rs 50,612 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 54,807 per kg. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.81 against the US dollar.

The rupee fell on Friday and closed at 79.83 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.

In news from the auto sector, Tata Motors adds another feather to its hat.

Tata Motors on Friday said it has bagged an order for 1,500 electric buses from Delhi Transport Corporation (DTC) as part of a tender by Convergence Energy Services Ltd.

The auto major will supply, operate and maintain air-conditioned, low-floor, 12-metre fully-built electric buses for 12 years, as per the contract.

The delivery of these buses will further fortify our partnership with DTC and help in environment-friendly mass mobility for the city of Delhi. This step was quite necessary considering the high pollution level in Delhi.

The Mumbai-based company has already supplied more than 650 electric buses across multiple cities in India, which have cumulatively clocked more than 39 million kilometres.

Following the news, the share price is running in the green today. However, this is not new for Tata Motors. Ever since the EV opportunity, Tata Motors share price has been booming.

Since you are interested in EVs, check out our editorial on EVs are burning and what about the future of EV stocks.

Further in news from the mutual funds sector, HDFC AMC posted its quarterly results on Friday.

HDFC Asset Management Company (AMC) reported a 9% decline in profit after tax at Rs 3.1 bn in the three months ended June 2022. In comparison, the asset management firm had posted a profit after tax (PAT) of Rs 3.5 bn the year-ago period.

The company's revenue from operations rose 3% to Rs 5.2 bn in the first quarter of fiscal 2023 from Rs 5.1 bn in the same quarter preceding fiscal.

Its Average Asset Under Management (AAUM) stood at Rs 4.2 tn for the June quarter. The same was Rs 4.1 tn for the corresponding period last year.

HDFC AMC share price is trading in the red. Lately, HDFC AMC share price has been falling. A lot of reasons like continuous selling by FIIs, exclusion from to MSCI Index are responsible for the fall.

To know more about the Q1 results of HDFC AMC, take a look at 5 takeaways from HDFC AMC Q1's results.

Further in news from the oil and gas sector, ONGC has some news for its investors.

In a move to monetise its upcoming field at Khubal in North Tripura, the ONGC has signed gas sale agreements with GAIL India and Assam Gas Company (AGCL).

News agency PTI reported that under the agreement, GAIL and AGCL will receive 50,000 standard cubic metres of gas each from the Khubal Gas Gathering Station (GGS).

Once it starts production, Khubal will be the tenth producing field of ONGC in Tripura. Khubal GGS will have a capacity to process 0.44 MMSCMD (4,40,000 standard cubic meters) of gas for which the process of construction has already been started, he added.

GSA is an important milestone in the lifecycle of any gas business, signifying commerciality for producers like ONGC, while ensuring the product reaches the end consumers through marketing and transportation intermediaries such as GAIL and AGCL.

The Khubal gas field is expected to start production in 2024 in line with the commissioning of the Indra Danush Gas Grid Line (IGGL) pipeline, a critical and massive infrastructure project for the Northeast region's gas sector.

Indian oil companies including ONGC were under a lot of pressure to Windfall tax, but recently government announced a cut in the wind fall tax.

Now how this windfall tax cut amid falling oil prices will benefit Indian oil & gas companies, only time will tell.

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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