SGX Nifty Down 19 Points, How India is Shaping the Semiconductor Industry, IPO Buzz, and Top Buzzing Stocks Today

Thu, 18 Aug Pre-Open

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On Wednesday, Indian share markets extended gains as the session progressed and ended higher.

Consistent participation by FIIs is the backbone of the current rally. This reversal in the FII trend is due to the resilience showcased by Indian economy even as inflation continues to plague the western markets.

Strong global cues also supported sentiment yesterday.

At the closing bell on Wednesday, the BSE Sensex stood higher by 418 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 119 points (up 0.7%).

Bajaj Finserv, HDFC Life, and Hero MotoCorp were among the top gainers.

Apollo Hospital, Tata Motors, and Mahindra & Mahindra on the other hand, were among the top losers.

India celebrated its 75th year of independence yesterday. Check out the must have stocks in India's 75th year of independence.

Broader markets ended on a positive note. The BSE Midcap index climbed 0.6% while the BSE Smallcap index climbed 0.5%.

Sectoral indices ended on a mixed note with stocks in the telecom sector and IT sector witnessing maximum buying.

On the other hand, stocks in capital goods and auto sector witnessed selling interest.

Chartist Brijesh Bhatia believes auto stocks can head higher and outperform benchmark indices.

Shares of Tata Elxsi, Wabco India, and Adani Enterprises hit their 52-week high.

Adani group stocks are rising, continuing their momentum.

At 8:00 AM today, the SGX Nifty was trading down by 19 points or 0.1% lower at 17,950 levels.

Indian share markets are headed for a flat opening today following the trend on SGX Nifty.

Gold prices for the latest contract on MCX were trading flat at Rs 51,841 per 10 grams, at the time of Indian market closing hours yesterday.

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.

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

Bharti Airtel will be among the top buzzing stocks today.

Private telecom operator Bharti Airtel yesterday paid Rs 83.1 bn to the department of the telecom towards the dues for the spectrum acquired in recent 5G auction.

With the payment, the telco has paid four years of 2022 spectrum dues upfront.

Sona Comstar share price will also be in focus today.

Automotive technology firm Sona Comstar has collaborated with Israel-based startup Drive to help it develop and commercialise new technologies in the smart mobility space.

The partnership will give the company access to Israel's hi-tech mobility startup ecosystem, including access to Drive's new testing, evaluation and development centre, Sona Comstar said in a statement.

Market participants will also track shares of UTI AMC.

Shares of UTI AMC were under pressure yesterday after the company denied reports of it being in talks with Tata group for a 45% stake sale.

Recent reports had emerged saying Tata AMC plans to acquire the shares held by four public sector undertakings (PSUs) in the fund house that manages assets worth Rs 2.24 tn.

Buzz Returns to IPO Market

The Indian stock market is recovering. Fundamentally strong smallcap stocks are leading the charge.

As market volatility eases, companies are back with their preliminary papers and have filed for their initial public offers (IPO).

In the past couple of days, Virat Kohli backed Go Digit General Insurance, Rakesh Jhunjhunwala backed Concord Biotech and Kolkata-based Balaji Solutions have filed their draft red herring prospectus (DRHP) with the market regulator.

If reports are to be believed, these three companies could collectively raise around Rs 75 bn through their IPOs.

71 companies have received market regulator's approval and are waiting for a better time to launch their IPOs.

With several mega IPOs just around the corner, the Indian primary market is set for buzzing months ahead.

In other news, the IPO of Syrma SGS Tech sailed through yesterday as it received strong participation from retail investors.

Syrma's GMP strengthened and rose to Rs 40 as against Rs 25 two days ago.

Stay tuned to get further updates on this IPO and all upcoming IPOs in the market.

Russian Oil Buying Eases

India's crude oil imports from Russia in July 2022 fell for the first time since March along with its overall purchase while supplies from Saudi Arabia rebounded for the first in five months, data obtained from trade and industry sources showed.

Indian refiners lifted more term supplies from Saudi Arabia as prices were attractive while prices for Russian supplies have climbed on robust demand.

India shipped in 877,400 barrels per day (bpd) oil from Russia in July, a decline of about 7.3% from June, with Moscow continuing as its second biggest oil supplier after Iraq.

Indian oil refiners are snapping up discounted Russian oil after some Western countries and companies shunned purchases from Moscow over its late-February invasion of Ukraine.

Indian Semiconductor Industry at US$ 300 bn by 2026

India's semiconductor component market is likely to reach US$300 bn mark in cumulative revenues by 2026, as 'Make in India' and production-linked incentive (PLI) schemes will boost local sourcing of semi-components in the coming years, a report said.

Mobile and wearables, IT and industrial segments currently contribute around 80% of the semiconductor revenues in the country in 2021.

Further policy reforms and building of a semiconductor ecosystem will reduce reliance on imports going forward, according to the report by the India Electronics & Semiconductor Association (IESA) and Counterpoint Research.

The global chip shortage had affected several smartphone and automobile industries.

The government has now launched the 'Semiconductor Mission' to establish a self-reliance and give boost to India's fast-expanding electronics manufacturing and innovation ecosystem.

The main objective of this is to provide financial assistance to companies that invest in semiconductors, display production, and the design environment.

Note that the top semiconductor stocks are a hot trend in equity market today and they will continue to prevail and be of utmost importance in the years to come.

As semiconductors chips are needed for manufacturing cars, televisions, refrigerators, washing machines, among other electronics, there will be supply constraints in the future.

To tap into this opportunity, several Indian companies, listed and unlisted, have big plans to build a semiconductor ecosystem in India.

To know more, check out our guide on how to invest in semiconductor stocks.

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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