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Sensex, Nifty Trade Flat; IndusInd Bank, ONGC and NTPC Top Gainers
Wed, 24 Aug 10:30 am

Sensex, Nifty Trade Flat; IndusInd Bank, ONGC and NTPC Top Gainers

Asian share markets are trading in red today, despite some mild gain in the early hours following modest falls on Wall Street, with all eyes on a meeting of central bankers in Jackson Hole, Wyoming.

The Nikkei fell by 0.5% while the Hang Seng was down by 0.8%. The Shanghai Composite is trading lower by 0.1%.

Wall Street indices ended down on Tuesday as investors focused on data showing a slowing economy ahead of a US Federal Reserve gathering later this week in Jackson Hole. Steadying Treasury yields helped calm the market following its worst tumble in months.

The Dow Jones was down by 0.5% while the tech heavy Nasdaq closed flat.

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

Benchmark indices opened in red today following the trend on SGX Nifty. But as the session progressed, losses were erased.

At present, the BSE Sensex is trading higher by 50 points. Meanwhile, the NSE Nifty is trading on a flat note.

IndusInd Bank and NTPC are among the top gainers today.

Tata Steel and TCS are among the top losers today.

Broader markets are trading mixed. The BSE Mid Cap index is up by 0.2% while the BSE Small Cap index is trading higher by 0.7%.

Sectoral indices are trading on a mixed note, with stocks in the realty sector and telecom sector witnessing most of the buying.

Consumer durable and IT stocks, on the other hand, are trading in red.

Keep an eye out on these 5 beaten down small-cap stocks as Indian markets turn volatile yet again.

Laxmi Machine and SKF India hit their 52-week high 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 our editorial on the most profitable mid cap stocks and the most profitable bluechip stocks in India.

In the commodity markets, gold prices fall. Gold prices are trading lower by Rs 45. Currently, gold prices are trading at Rs 51,372 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading lower at Rs 55,160 per kg. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.8 against the US dollar.

After getting a bird's eye view of the market, do you want to get a full analysis on how the markets will perform today? You know how the market started but do you want to know how the markets will close today?

In the below video, Brijesh Bhatia does a complete analysis of today's market.

In news from the QSR space, Jubilant Foodworks share price is in focus today.

After falling throughout 2022, shares of Jubilant Foodworks gained yesterday and today.

Jubilant Foodworks share price is falling as the company is facing inflationary pressures, FII selling and of course, its steep valuations add to the worry.

So far in 2022, the stock is down by 21.7%. Take a look at the chart below:

chart

For more details about the company, you can have a look at Jubilant FoodWorks factsheet and quarterly results on our website.

In news from the power sector, NTPC is set to raise funds.

State-owned power giant NTPC will raise Rs 20 bn through issuance of non-convertible debentures on a private placement basis on Thursday.

The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, according to a regulatory filing.

The company has decided to issue unsecured non-convertible debentures of Rs 20 bn on 25 August 2022, through private placement at a coupon of 7.4% per annum with a door-to-door maturity of 10 years.

The debentures are proposed to be listed on NSE.

NTPC is one of the 5 Indian companies that are leading the green hydrogen revolution.

Further in news from the oil and gas sector, Hindustan Petroleum (HPCL) sets up a new plant in Rajasthan.

State-run Hindustan Petroleum Corporation on Tuesday commenced its cow dung to compressed Biogas project at Sanchore, Rajasthan.

The plant, first such under HPCL's Waste-to-Energy portfolio, is proposed to utilise 100 tons of dung per day to produce biogas, which can be utilised as automotive fuel. The project is proposed to be commissioned in a year's time.

The project's ground breaking ceremony took place at Shree Godham Mahatirth Pathmeda Lok Punyarth Nyas, Village Pathmeda, Tehsil Sanchore District Jalore in Rajasthan. The ceremony was attended by ED Bio-fuel & Renewables Shuvendu Gupta and senior officials from HPCL.

HPCL is one of the top 6 midcap stocks with high dividend yields.

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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