Sensex Today Falls 350 Points from Day's High | Banking Stocks Worst Hit | Smallcaps, Midcaps Outperform

Wed, 30 Aug Closing

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Indian share markets witnessed volatile trading activity throughout the trading session and ended higher.

Continuing the positive momentum, benchmark indices jumped in early trade, with Sensex surging more than 300 points amid positive global cues.

As the session progressed, banking stocks came under pressure.

Also, the Bombay Stock Exchange today announced its plan to move the expiry day of Bankex derivatives contracts from Friday to Monday, effective from 16 October 2023.

New contracts of S&P BSE Bankex with Monday expiry will be generated at the end of the day on October 13, 2023, and will be available for trading with effect from October 16, 2023.

At the closing bell, the BSE Sensex ended up by 11 points (up 0.1%). Meanwhile, the NSE Nifty closed higher by 5 points.

Jio Financial and Tata Steel were among the top gainers today.

Power Grid and SBI were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,335, down by 7 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index ended higher by 0.6% and the BSE SmallCap index gained 0.8%.

Sectoral indices ended on a mixed note with stocks in the realty sector and the telecom sector witnessed most of the buying.

On the other hand, stocks from the banking sector and power sector witnessed selling.

Shares of Bharat Bijlee and Escorts hit their 52-week highs today.

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 stock markets, is it possible to make a reasonably good judgement about a stock's future potential without understanding its business model?

It may sound surprising, but Co-head of research, Rahul Shah thinks it is certainly possible.

And he uses the same method to try and understand Cochin Shipyard's multibagger journey and what is in store for the stock's investors.

Titagarh Systems Receives New Order

Titagarh Rail Systems, formerly known as Titagarh Wagons, today said it has received a letter of acceptance for a Rs 3.5 bn contract from Gujarat Metro Rail Corporation (GMRC) for the design, manufacture, supply, testing, commissioning and training of 30 standard gauge cars.

The standard gauge cars are for Ahmedabad Metro Rail Phase-II project.

It will be 10 trains of three cars each.

The Ahmedabad Metro Rail Phase-II project is being implemented by GMRC at a cost of Rs 135 bn. The project will add 28.2 km of Metro lines to the city's existing network.

Titagarh is making serious moves when it comes to numerous railway orders. The Kolkata-based company recently received a contract to supply 24 Metro trains for Phase-I of Surat Metro at a contract value of around Rs 8.5 bn from Gujarat Metro Rail Corporation (GMRC).

Auction process of critical minerals

India is preparing to start the auction process for some 100 critical mineral blocks in the next four months, as part of plans to secure domestic supplies of the raw materials needed to fuel the green energy transition.

The blocks are for minerals including nickel, lithium, cobalt and platinum, along with rare earths, Mines Secretary Vivek Bharadwaj said in an interview in New Delhi.

The legal framework has been laid out and the blocks have been identified, according to Bharadwaj. The tender seeking bids is expected to be out by December and auctions may start three months later.

Note that India is racing to ensure critical minerals security to power its ambition to make the country a key battery and electric vehicles manufacturing hub and help attain a net zero goal.

The country currently doesn't mine key materials like lithium, cobalt and nickel locally.

In order to incentivize global and local miners to participate in the process, the government is planning to reimburse half the cost of exploration. Companies may take at least three years to bring the mines into operation.

Some state-run companies like Coal India and NTPC have been scouring the globe for such assets and mapping out plans to mine the materials.

For more, check out our recent editorial: Top 5 Indian Companies to Watch Out for in the Rare Mineral Race.

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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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