Sensex, Nifty End Flat Amid Volatility; Power, FMCG and Auto Stocks Gain

Tue, 2 Aug Closing

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Indian share markets witnessed volatile trading activity today and ended on a flat note amid negative global cues.

Escalating US-China tensions over Taiwan, demand weakening under inflation pressures, and the looming possibility of a recession curbed risk appetite which led to the negative market sentiments.

At the closing bell, the BSE Sensex stood higher by 20 points.

Meanwhile, the NSE Nifty closed higher by 5 points.

Today marked the fifth consecutive day of benchmark indices ending in green.

IndusInd Bank, Asian Paints, and NTPC were among the top gainers today.

Tech Mahindra, HDFC, and L&T on the other hand, were among the top losers today.

ITC share price is rising after it reported good quarterly results yesterday.

Meanwhile, M&M share price touched its all-time high as the company received superb response to its new vehicle launch.

The SGX Nifty was trading at 17,326, down by 67 points, at the time of writing.

The broader markets ended on a positive note. The BSE MidCap climbed 0.5% and the BSE SmallCap index ended higher by 0.3%.

Sectoral indices ended on a mixed note today. Realty sector and IT sector saw the maximum selling .

While power, auto, and FMCG stocks witnessed buying.

Shares of MRF, Page Industries, Maruti Suzuki and Blue Dart 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.

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

ITC, Reliance, HDFC Bank and Baja Finance were amongst the most active shares on the BSE today.

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

Asian share markets ended in red. The Nikkei ended down by 1.4%, while the Hang Seng inched lower by 2.4%. The Shanghai Composite ended 2.2% lower.

The rupee is trading at 78.6 against the US$.

A sharp appreciation was seen in the rupee against the US dollar today.

Gold prices are down by 0.4% or Rs 224 at Rs 51,402 per ten grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.7% at Rs 57,987 per 1 kg.

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, India's #1 trader Vijay Bhambwani shares his thoughts on the rate hike in India, in his latest video for Fast Profits Daily.

The US Fed has raised interest rates by 0.75%. This has triggered speculation that the RBI will hike rats in a big way in its August meeting.

If this happens, how will the markets react and how should you approach it?

Vijay answers all these questions in the below video. Tune in to find out more:

In news from the energy sector, GAIL shares sinks 4% today.

The Russia's Gazprom had invoked force majeure on its long-term liquefied natural gas (LNG) contracts with the company.

When Gazprom failed to deliver several LNG cargoes to GAIL from Singapore as scheduled, the Russian corporation was forced to declare a force majeure.

It was because the company chose to transfer those cargoes to Europe instead, where it could sell its gas at a better spot price.

The lack of natural gas supply from Gazprom has put GAIL in a quandary as it will now have to secure alternative supplies from the international spot market.

Investors fear the unfolding crisis could sharply hit GAIL India's natural gas volumes and earnings in the coming quarters as it becomes a collateral damage in the brinkmanship between Europe and Russia

It is not the first time the shares of the company have declined. Shares of the company showed a similar pattern in July 2022.

GAIL share price was falling due to the sudden windfall tax announcement and falling crude oil price.

Moving on to the news from automobile sector, Escorts Kubota was one of the top buzzing stocks today.

The automobile company reported a revenue growth of 20% in the most recent quarter.

Quarterly net profit at Rs 1.5 bn in June quarter was down 20.4% from Rs 1.8 bn in June 2021.

EBITDA stood at Rs 2,370.4 m, down 15.5% from Rs 2,804.5 m reported in previous quarter last year.

Commenting on the performance, Nikhil Nanda, Chairman and MD of Escorts Kubota said

• We are excited to be Escorts Kubota (EKL) now. During the first quarter of current fiscal industry in Agri sector has witnessed positive trend, after 3 quarter of degrowth. With onset of monsoon, and likely record kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve.
  
  In our construction business, we have outperformed the industry in our served markets and expect growth momentum to continue with government's thrust on infrastructure development.
  
  With recent government actions, inflation may stabilise in near term and operating leverage may further possibly help in partially diluting the impact on margins in coming quarters.

To know more, check out Escort's latest news and analysis.

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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