Sensex, Nifty End Flat Amid Volatility; NTPC, SBI & Tata Consumer Top Losers

Thu, 4 Aug Closing

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Indian share markets witnessed volatile trading activity today and ended on a flat note.

Benchmark indices erased early gains and tumbled 1% intraday amid negative global cues.

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

At the closing bell, the BSE Sensex stood lower by 51 points.

Meanwhile, the NSE Nifty closed lower by 6 points.

Cipla, Nestle India, and Sun Pharma were among the top gainers today.

NTPC, Tata Consumer, and Coal India on the other hand, were among the top losers today.

M&M share price touched its all-time recently 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 index climbed 0.5% and the BSE SmallCap index ended lower by 0.3%.

Sectoral indices ended on a mixed note with stocks in the realty sector, telecom sector and banking sector witnessing selling.

Healthcare and IT stocks, on the other hand, ended in green.

Shares of Navneet Education, Deepak Fertilisers, and Varun Beverages hit their 52-week highs today.

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Reliance, Tata Consumer, and Infosys 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 higher. The Nikkei ended up by 0.6%, while the Hang Seng inched higher by 2%. The Shanghai Composite ended 0.8% higher.

The rupee is trading at 79.30 against the US$.

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

Gold future of MCX were 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.

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In news from the telecom sector, Vodafone Idea posted flat financial performance for the June 2022 quarter.

Vodafone Idea reported consolidated net loss of Rs 72 bn against a loss Rs 73 bn in the same quarter last year.

Its revenue surged by 13.8% to Rs 104 bn as against Rs 91 bn year-on-year (YoY).

The average revenue per user (ARPU) for the quarter improved 23.4% on year to Rs 128 as against Rs 104 during the same period last year.

Ravinder Takkar, managing director of the company, said:

• We continue to witness 4G subscriber growth on the back of superior data and voice experience offered by Vi GIGAnet. This is also because of our focus on creating differentiated digital experiences for our customers.

Speaking on the recently completed 5G spectrum auctions, he added:

• We have acquired sufficient spectrum in our key markets to offer superior 5G experience to our customers. We continue to remain engaged with lenders and investors for further fundraising.

Vodafone Idea shares slumped over 6% to Rs 8.55 per share on the BSE today..

Note that after the news of Amazon investing in VI went viral, the share price had seen a hike after a long time.

But post that, the rally stopped and shares are again showing a fall. This fall was further deepened by the weak Q1 result of the company.

Moving on to the news from FMCG sector, Adani Wilmar was among the top buzzing stocks today.

Adani Wilmar posted a stellar financial performance for the June 2022 quarter.

Adani Wilmar, the FMCG giant, reported consolidated net profit of Rs 1.9 bn against a profit of Rs 1.7 bn in the same quarter last year.

Its revenue surged by 30.2% to Rs 147 bn as against Rs 113 bn year-on-year (YoY).

The total sales volumes grew 15% year-on-year to 1.19 million metric tonnes.

Angshu Mallick, managing director, said:

• =Adani Wilmar has continued to demonstrate a steady growth on overall volumes, led by an exceptional growth in the foods business.
  
  =We expect uptick in the demand in Q2 FY23 on the back of festivities and weddings across the country. We particularly expect growth in demand from rural markets, with expectations of a good monsoon.

Revenue of the edible oil segment grew by 22.7% YoY, whereas the revenue of food and FMCG segment grew by 65.8% YoY.

Post the result announcement, shares of the company rallied in early morning trade but erased gains as the session progressed to end 0.7% lower.

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

Speaking of the FMCG sector, check out the fastest growing FMCG stocks of 2022.

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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