Sensex Today Trades Lower| Tata Steel & Cipla Top Losers | Hero MotoCorp Slips 2%

Wed, 2 Aug 10:30 am

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Asian share markets are trading lower with technology shares seeing a heavy dose of profit-taking after an unexpected downgrade to the US sovereign rating by Fitch somewhat dented sentiment.

The Nikkei is trading 2% lower, and the Hang Seng index is trading 1.9% lower. While shanghai Index is trading 0.8% lower.

Wall Street stocks ended mostly lower on Tuesday amid a slew of corporate earnings results, while manufacturing sector data supported hopes that the central bank could skip another rate hike in September.

The Dow Jones Industrial Average went up 0.2% and the tech heavy Nasdaq Composite ended 0.4% lower.

Here's a table showing how US stocks performed on Tuesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	131.89	-1.22	-0.92%	132.92	130.75	134.07	83.45
Apple	195.61	-0.85	-0.43%	196.73	195.28	198.23	124.17
Meta	322.71	4.11	1.29%	324.14	314.66	326.20	88.09
Tesla	261.07	-6.36	-2.38%	266.47	260.25	314.67	101.81
Netflix	438.62	-0.35	-0.08%	445.25	431.40	485.00	211.73
Amazon	131.69	-1.99	-1.49%	133.69	131.62	146.57	81.43
Microsoft	336.34	0.42	0.13%	338.54	333.70	366.78	213.43
Dow Jones	35,630.70	71.20	0.20%	35,679.13	35,526.61	35,679.13	28,660.94
Nasdaq	14,283.90	-62.10	-0.43%	14,309.21	14,215.64	14,446.55	10,088.83

Source: Equitymaster

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

At present, the BSE Sensex is trading lower by 355 points. Meanwhile, the NSE Nifty is trading down by 107 points.

Adani Ports and ONGC are among the top gainers today.

Tata Steel and Cipla on the other hand are among the top losers today.

Broader markets are trading on a mixed note. The BSE Mid Cap index is trading 0.4% lower and the BSE Small Cap index is trading marginally higher.

Barring metal stocks, all sectoral indices are trading on a negative note with stocks in banking sector and metal sector witnessing most selling pressure.

Shares of NESCO and ONGC hit their 52-week high today.

The rupee is trading at Rs 82.40 against the US dollar.

In commodity markets, gold prices are trading higher by 0.2% at Rs 59,525 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 74,193 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.

Bajaj Auto's July Sales Slips 10%

Bajaj Auto's total vehicle sales declined 10% year-on-year (YoY) in July 2023 to 319,747 from 354,670 during the same period last year.

The company posted a 14% YoY decline in its domestic two-wheeler (2W) sales for July 2023. The company sold 141,990 2W in July, against 164,384 in July 2022. Exports were also down 16% YoY, which came down from 150,670 in July 2022 to 126,850 in July 2023.

Domestic commercial vehicle sales for Bajaj Auto almost doubled with a 101% YoY rise as the automaker sold 37,272 units in July 2023, compared to 18,572 units in July 2022. Exports for commercial vehicles, on the other hand, were down 35% YoY.

The company has sold a total of 684,921 two-wheelers in the current financial year (Apr-Jul), which is up 43% YoY from 478,802 units sold during the same period last year.

Bajaj is collaborating with the British motorcycle manufacturer, Triumph. The partnership has come up with its first product for the Indian market, the Speed 400, which has been launched at an aggressive price of Rs 2.33 lakh.

The Bajaj-Triumph duo is looking to make a dent in Royal Enfield's dominating market share in the 350-600 cc motorcycle segment.

In 2023 up to 12 April, its share price has rallied 19.9%. Over the year it has climbed over 18%.

Investor sentiment around Bajaj Auto has received a boost due to falling raw material prices. So,  Is Bajaj Auto the Next Big Growth Story in the Indian Auto Industry?

Ambuja Cement to buy majority stake in Sanghi Industries

India's Ambuja Cements has reached a deal to acquire a majority stake in operations of Sanghi Industries, two sources with direct knowledge said, a transaction that will add heft to the cement operations of billionaire Gautam Adani's firm.

The deal by Ambuja is likely to be announced as soon as Wednesday.

They did not share the exact stake percentage.

The deal was done by considering Sanghi's enterprise value at Rs 60 bn (US$ 729 million).

Adani is India's second-largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which can produce more than 65 million tonnes with more than a dozen manufacturing plants across India.

Sanghi is one of the leading cement manufacturers from Gujarat state in western India. It has a production capacity of 6.1 million metric tonnes per annum.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analyses on one screen.

Dig deeper into Adani group stocks.

Bharti Airtel to target SMB market

Telecom operator Bharti Airtel is looking to garner a major share in the enterprise communication services segment of small and medium businesses with its new Airtel IQ Reach platform.

Airtel's communications platform as a service (CPaas) Airtel IQ Reach will enable small and medium businesses to engage with target customers with prepaid pay-as-you-go plans.

About 20-25% of the target message market is small and medium businesses for promotion. That is the market which we would like to go after and be market leaders in terms of message volumes.

It is a prepaid self-serve platform which will enable businesses to send personalised communications to pre-defined customer segments.

For more, check out Equitymaster's stock screener for screening India's top telecom 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!

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers