Sensex Today Trades Higher | Hindalco & Tech Mahindra Top Gainers | Cochin Shipyard Jumps 3%

Tue, 1 Aug 10:30 am

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Asian share markets are trading higher following overnight gains in US stocks amid upbeat sentiment. Investors also looked ahead for key economic data releases in the region.

The Nikkei is trading 0.7% higher, and the Hang Seng index is trading flat. While shanghai Index is trading 0.1% higher.

US Stocks edged up on Monday while oil prices gained and the dollar was little changed, as traders looked ahead to corporate earnings and a key employment report due this week.

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

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	133.11	0.10	0.08%	133.83	132.13	134.07	83.45
Apple	196.45	0.62	0.32%	196.49	195.26	198.23	124.17
Meta	318.60	-6.88	-2.11%	325.66	317.59	326.20	88.09
Tesla	267.43	0.99	0.37%	269.08	263.78	314.67	101.81
Netflix	438.97	13.19	3.10%	439.13	426.30	485.00	211.73
Amazon	133.68	1.47	1.11%	133.87	132.38	146.57	81.43
Microsoft	335.92	-2.45	-0.72%	337.70	333.36	366.78	213.43
Dow Jones	35,559.50	100.20	0.28%	35,566.95	35,430.22	35,645.35	28,660.94
Nasdaq	14,346.00	29.40	0.21%	14,370.91	14,292.76	14,446.55	10,088.83

Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 101 points. Meanwhile, the NSE Nifty is trading up by 24 points.

NTPC, Tech Mahindra and Hindalco are among the top gainers today.

UPL, ONGC and Apollo Hospital on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading marginally higher and the BSE Small Cap index is trading 0.6% higher.

Sectoral indices are trading on a mixed note today with stocks in IT sector, and metal sector witnessing most buying.

While the stocks in the realty sector and power sector witnessed selling pressure.

Shares of SKF India and Polycab India hit their 52-week high today.

The rupee is trading at Rs 82.32 against the US dollar.

In commodity markets, gold prices are trading lower by 0.4% at Rs 59,854 per 10 grams today.

Meanwhile, silver prices are trading 0.4% lower at Rs 75,100 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, Rahul Shah co-head of research at Equitymaster, talks about a simple rule to navigate this all-time high market.

The index has already gone up 16% from its March lows and there is nothing on the horizon for the time being that can stop the rally in its tracks.

This presents the classic dilemma for the average investor. Should we take advantage of this rally and exit a few stocks, or should he keep riding the bull to new highs?

Tune in to the below video to know how to navigate.

SBI's Rs 100 billion fundraising

The country's largest lender State Bank of India (SBI), on Monday, raised Rs 100 bn at a coupon rate of 7.54% through its third infrastructure bond issuance.

The bidding ended on 31 July 2023, and the proceeds will be used in enhancing its long-term resources for funding infrastructure and the affordable housing segment.

The tenor of these bonds is 15 years. This is the first issuance of long-term bonds by any bank for this tenor in the current financial year.

The issue attracted an overwhelming response from investors with bids of Rs 216.9 bn and was oversubscribed 4.34 times against the base issue size. The number of bids received was 115, indicating wide participation.

This represents a spread of 0.13% over the corresponding Financial Benchmark of India Limited (FBIL) G-Sec par curve.

Before this, the bank had raised infrastructure bonds of Rs 9,718 crore on 19 January 2023 at a spread of 17 bps over the corresponding FBIL G-Sec par curve.

From May 2022 to May 2023, SBI's share price rallied over 24%.

For more, check out 5 Indian Banks that Posted Record High Profits in FY23. Will the Dream Run Continue?

Maruti Suzuki Q1 net profit doubles

Maruti Suzuki India, on Monday, reported a 145.5% year-on-year (YoY) jump in its standalone net profit at Rs 24.9 bn during the first quarter of FY24. The company claimed that the steep rise in profits during the quarter was on account of larger sales volume, improved realisation, cost reduction efforts, and higher non-operating income.

The country's largest passenger vehicle maker's revenue for the quarter rose 22% YoY to Rs 323.3 bn.

MSIL's PAT for Q1 FY23 stood at Rs 10.1 bn, and net revenue from operations at Rs 264.9 bn.

The company's operational performance was also enhanced as the earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 56% YoY to Rs 29.8 bn, while the EBITDA margin expanded by 2% to 9.2% from 7.2% a year ago.

The carmaker's total sales, including in domestic and overseas markets, were up 6.4% at 4,98,030 between April and June 2023 vis-a-vis 4,67,931 units sold in the corresponding period of the previous year.

Out of that, domestic sales stood at 4,34,812 units in Q1FY24, higher than the 3,98,494 units sold in the same period last year.

Apart from this, driving the EV revolution is developing hybrid electric vehicles (HEV) with Toyota.

Note that the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Bosch Q1 results

Auto components major Bosch on Monday reported a 22.4% year-on-year (YoY) jump in net profit at Rs 4.1 bn for the June 2023 quarter. In the corresponding quarter last year, Bosch posted a net profit of Rs 3.3 bn.

The total revenue stood at Rs 41.6 bn during the period under review, up 17.3% against Rs 35.4 bn in the corresponding period of the preceding fiscal.

The increase in revenue was mainly due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, outperforming the market.

At the operating level, EBITDA increased 4.1% to Rs 4.7 bn in the first quarter of this fiscal over Rs 4.5 bn in the corresponding period in the previous fiscal.

EBITDA margin stood at 11.3% in the reporting quarter compared to 12.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The powertrain solutions business registered a growth of 12.5% over the same quarter of the previous financial year, outperforming the overall automotive market growth. This has resulted in an increase of 13.6% in the product sales of the automotive segment.

The weakening of demand due to the global economic crisis has helped better distribution of semiconductor supplies across the world.

Bosch is among the Top 5 AI Stocks Which Pay Good Dividends.

And 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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