SGX Nifty Up 120 Points, Tata Motors Q1 Results, Zomato's Share Allotment amid the Selloff, and Top Buzzing Stocks Today

Thu, 28 Jul Pre-Open

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On Wednesday, Indian share markets ended on a strong note even as caution prevailed in other Asian peers ahead of the US Federal Reserve's policy statement.

Benchmark indices ended higher in yesterday's volatile session as heavyweight technology stocks gained.

At the closing bell on Wednesday, the BSE Sensex stood higher by 548 points (up 1%).

Meanwhile, the NSE Nifty closed higher by 158 points (up 1%).

Sun Pharma, SBI, and L&T were among the top gainers.

Bharti Airtel, Kotak Mahindra Bank, and NTPC, on the other hand, were among the top losers.

Vedanta share price fell in early trade yesterday on the growing concerns about a possible recession in parts of the world.

The broader markets ended on a strong note. The BSE MidCap climbed higher by 0.9% and the BSE SmallCap index ended higher by 0.4%.

Barring telecom sector, all sectoral indices ended on a firm note yesterday with stocks in the IT sector, healthcare sector, banking sector, and capital goods sector witnessing most of the buying.

At 8:10 AM today, the SGX Nifty was trading up by 120 points or 0.8% higher at 16,760 levels.

Indian share markets are headed for a firm opening today following the trend on SGX Nifty.

Shares of ITC and Adani Enterprises hit their 52-week highs.

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

Also, check out the 5 stocks paying out big dividends in August 2022.

Reliance Industries, Infosys, and Maruti Suzuki were amongst the most active shares on the BSE yesterday.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Restricting the fall in rupee, it was trading at 79.87 against the US$, at the time of Indian market closing hours yesterday.

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

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 50,667 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract were MCX are trading up by 0.4% at Rs 54,916 per 1 kg, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below

Top Buzzing Stocks Today

Zomato share price will be among the top buzzing stocks today.

The food delivery player has allotted 46.5 m equity shares from its ESOP (employee stock option plan) pool at an exercise price of 1 rupee.

Zomato rose yesterday, after two days of heavy declines. In the previous two sessions, Zomato share price fell big time as IPO lock-in period ended.

Despite an exuberant listing last year, Zomato has underperformed peers on a year-to-date basis.

Read our recent editorial to know how 2021's most popular stocks have fared in 2022 so far.

Telecom services companies like Bharti Airtel and Vodafone Idea share price will also be in focus today.

The Union Cabinet has cleared the merger of Bharat Broadband Network Limited (BBNL) into the state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL).

With the merger, BSNL will get an additional 0.57 m km of optical fibre which has been laid across 185,000 village panchayats in the country using the Universal Service Obligation Fund (USOF).

In addition, the Union Minister Ashwini Vaishnaw also announced a revival package of Rs 1.65 tn for BSNL.

Elements of the revival package include: advancement of services and its quality, destressing balance sheet of BSNL, and expanding BSNL optical fibre network

On the other hand, the government has raised Rs 1.49 tn so far from the auction of 5G spectrum which is continuing.

5G is here, here's how you can play it.

Market participants will also track shares of Bajaj Finserv, Dr Reddy's Laboratories, and Nestle India as these companies are set to announce their Q1 results later today.

Tata Motors Q1 results

Tata Motors reported a widening of consolidated net loss at Rs 50.1 bn for the June quarter compared with Rs 10.3 bn in March 2022 and Rs 44.5 bn in the year-ago June quarter.

This is even as consolidated revenue for the quarter rose 8.68% year-on-year (YoY) to Rs 712.3 bn from Rs 655.4 bn in the year-ago quarter.

British arm JLR reported a 11.3% YoY drop in sales at GBP 4,406 m.

Tata Motors said retail sales for JLR in June quarter were 78,825 vehicles, broadly flat compared with March quarter and down 37% compared with the year-ago quarter.

JLR revenues were down 7.6% sequentially, impacted by supply challenges including semiconductor shortages, slower than expected ramp-up of new model production, and China lockdowns.

As far as the Tata's passenger vehicle segment is concerned, revenues came in at Rs 115.6 bn, up 122.5%. EBITDA for this segment came in at 6.1%.

To know more, check out Tata Motors' latest news and analysis.

Genesys International, Tech Mahindra partners with Google

Google Maps has launched Street View in India in collaboration with Tech Mahindra and Genesys International.

This is the first time that Street View services will be completely handled by local partners.

The service for a 360-degree view of streets, tourist spots, and landmarks could not be launched in India before because of regulatory hurdles.

Street View will be available on Google Maps with imagery licensed from the local partners and covering over 150,000 km across ten cities: Bengaluru, Chennai, Delhi, Mumbai, Hyderabad, Pune, Nashik, Vadodara, Ahmednagar, and Amritsar.

Google, Genesys International, a mapping and geospatial company, and Tech Mahindra plan to expand the service to more than 50 cities by the end of 2022.

Despite being a 'Digital India' stock, Tech Mahindra shares have fallen over 40% in 2022 so far.

Note that IT stocks are falling in 2022 due to recent global crisis and fears of a recession.

The IT index has corrected over 30% from its all-time high of 39,446, raising the question - is it time to buy the dip in IT stocks?

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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