Sensex Today Trades Higher | Paytm Surges 7% | Sun Pharma & Grasim Among Top Gainers

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Asian share markets declined on Monday as traders assessed a mixed US jobs report for clues on the Federal Reserve's next decision. The intensifying Ukraine-Russia conflict also weighed on sentiment.

The Nikkei is trading 0.1% higher, and the Hang Seng index is trading flat. While shanghai Index is trading 0.6% lower.

US stocks closed lower on Friday after a report on the slowing US labor market growth, and all major indexes posted weekly losses as investors braced for more possible downside surprises a day after disappointing earnings from Apple.

Dow Jones Industrial Average and the tech heavy Nasdaq Composite ended 0.4% lower.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	128.54	-0.23	-0.18%	131.93	128.32	134.07	83.45
Apple	181.99	-9.18	-4.80%	187.38	181.92	198.23	124.17
Meta	310.73	-2.46	-0.79%	318.41	310.20	326.20	88.09
Tesla	253.86	-5.46	-2.11%	264.77	253.11	314.67	101.81
Netflix	431.60	0.60	0.14%	436.50	426.27	485.00	211.73
Amazon	139.57	10.66	8.27%	143.63	139.32	146.57	81.43
Microsoft	327.78	1.12	0.34%	335.14	327.24	366.78	213.43
Dow Jones	35,065.60	-150.30	-0.43%	35,506.88	35,033.76	35,679.13	28,660.94
Nasdaq	13,909.20	-50.50	-0.36%	14,119.22	13,897.94	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 106 points. Meanwhile, the NSE Nifty is trading up by 33 points.

Sun Pharma and Grasim are among the top gainers today.

ITC and Nestle the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index are trading 0.3% higher.

Sectoral indices are trading on a mixed note with stocks in the metal sector and power sector witnessing most selling pressure.

Meanwhile the stocks in healthcare and telecom are witnessing buying.

Shares of Grasim and Info Edge hit their 52-week high today.

The rupee is trading at Rs 82.75 against the US dollar.

In commodity markets, gold prices are trading lower by 0.1% at Rs 59,453 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 72,225 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, the Indian stock market has been in a bullish trend for the last few months. And one sector has been at the forefront of the gains.

Public sector stocks have been on fire. There are many fundamental reasons for this but what do the technical charts say about these stocks?

In the below video, Chartist, Brijesh Bhatia, talks about the technical outlook for these stocks.

ICICI Bank to raise stake in ICICI Lombard

ICICI Bank received approval from the Reserve Bank of India (RBI) to raise its stake in ICICI Lombard General Insurance Company by up to 4% in multiple tranches. The private lender currently holds a 48.01% share in ICICI Lombard.

The second-largest private bank received the RBI nod on Friday.

Earlier, the bank, in its disclosure filed with the stock exchanges on 28 May 2023, had communicated that its Board of Directors had approved an increase in the shareholding in ICICI Lombard in multiple tranches by up to 4%.

The banking behemoth will acquire at least a 2.5% stake in ICICI Lombard before 9 September 2024, out of the approved 4%.

As per the guidelines of the Reserve Bank of India (RBI), banks can own a shareholding of either less than 30% in insurance companies or more than a 50% stake.

ICICI Bank had informed back in March that RBI had granted it an extension in the timeline for divesting its shareholding in ICICI Lombard to less than 30% of the company's paid-up capital till 9 September 2024.

For more, check out our editorial- Should Investors Churn HDFC Bank for ICICI Bank?

Bank of Baroda Q1 net profit grows 88%

Public sector lender Bank of Baroda on Friday reported an 87.7% rise in net profit to Rs 40.7 billion (bn) for the April-June FY24 quarter from Rs 21.7 bn last year.

The gross non-performing assets of the bank declined to 3.5% compared with 6.3% last year.

The Gross NPA of the Bank reduced by 33.8% YoY to Rs 348.3 bn in Q1FY24, and the Gross NPA Ratio improved to 3.5% in Q1FY24 from 6.3% in Q1FY23.

The Net NPA Ratio of the BOB stands at a record low of 0.8% in Q1FY24 compared with 1.6% in Q1FY23.

However, the Slippage ratio declined to 1.1%for Q1FY24 against 1.7% in Q1FY23.

Domestic CASA deposits registered a growth of 5.5% YoY and stood at Rs 4.2 tn.

Bank of Baroda has a domestic presence spanning 8,205 branches and 10,459 ATMs and Cash Recyclers supported by self-service channels and an international presence with a network of 93 overseas offices spanning 17 countries.

Between May 2022- May 2023, Bank of Baroda has delivered a return of 85.9%. Take a look.

The bank had a dream run in the financial year 2023. To know if this rally is here to stay, check out our editorial- 5 Indian Banks that Posted Record High Profits in FY23. Will the Dream Run Continue?

BHEL Q1 net loss widens

State-run Bharat Heavy Electricals Ltd (BHEL) on Friday, reported a net loss of Rs 3.4 bn for the June 2023 quarter. In the corresponding quarter last year, BHEL posted a net loss of Rs 1.9 bn.

In the quarter, total revenue stood at Rs 50 bn during the period under review, up 7.1% against Rs 46.7 bn in the corresponding period of the preceding financial year 2023.

At the operating level, EBITDA jumped 14.9% to Rs 10.4 bn in the first quarter of this fiscal over Rs 9 bn in the corresponding period in the previous fiscal.

EBITDA margin stood at 20.7% in the reporting quarter compared to 19.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

To know more about whether monopoly stocks like BHEL are screaming buy at any price, check out Good monopoly stocks vs bad monopoly 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