Sensex Today Gains 300 Points | Nifty Above 19,400 | Zomato Rises 4%, Jio Financial Services 5%

Wed, 30 Aug 10:30 am

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Asian share markets are higher today as China's largest banks reportedly prepare to cut interest rates and investors speculate that the Fed is nearing the end of its tightening campaign.

In US markets, Wall Street indices ended sharply higher on Tuesday, lifted by Tesla, Nvidia and other megacap growth stocks after a drop in monthly job openings cemented expectations of a pause in interest rate hikes by the US Federal Reserve.

The Dow jumped 0.9% while the tech heavy Nasdaq zoomed 1.7%.

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

Positive sentiment from the overnight's trading session in US markets and optimism in other Asian indices lifted the domestic benchmark indices in early trade.

At present, the BSE Sensex is trading 317 points higher and NSE Nifty is up by 80 points.

Jio Financial Services and M&M are among the top gainers today.

Power Grid and Asian Paints on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.6% higher and the BSE Small Cap index is trading 0.7% higher.

Barring oil & gas stocks, all sectoral indices are trading on a positive note with stocks in the realty sector, telecom sector and metal sector witnessing most of the buying.

Shares of Safari Industries and Trent hit their 52-week high today.

Market participants are also tracking shares of Escorts, Sun TV, Indiabulls Housing and Hindustan Copper as these companies are in the F&O ban list 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...

The rupee is trading at Rs 82.73 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 59,309 per 10 grams today.

Crude oil prices extended gains today after data showed a large draw in crude inventories in the US and as concerns about a hurricane in the Gulf of Mexico kept investors on edge.

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.

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

How Hero MotoCorp is preparing for its next leg of growth

Hero MotoCorp, India's largest two-wheeler maker, is looking to create a portfolio of premium motorcycles and scooters with the launch of multiple products in the next two years.

The company's CEO Niranjan Gupta said that growing footprint in the premium two-wheeler segment is a priority for the company.

He added that a larger chunk of the Rs 10 bn the company has earmarked for spending annually will be used for designing premium and electric vehicles (EVs) to strengthen the company's presence in these two categories.

Hero MotoCorp's Splendor and Passion dominate the country's entry-level motorcycles segment.

The company has a market share of about 5% in the premium two-wheeler segment.

Motorcycles less than 125 cc accounted for more than 90% of Hero MotoCorp's sales in FY23. In the last few years, the company has inked partnerships with Harley Davidson and California-based Zero Motorcycles to increase its footprint in the premium category.

Hero MotoCorp share price is trading down by 0.3%.

Zomato Block Deal

Zomato shares are in focus today.

SoftBank Vision Fund (SVF Global) is likely to offload 1.17% stake it the food delivery giant for Rs 9.4 bn via a block deal today.

A total of 100 million shares will be sold by SVF Growth Fund, at a price of Rs 94 apiece.

SoftBank owns about 3.35% stake in Zomato, which it was issued during the Blinkit deal for selling its holding to the company.

Note that recently, Tiger Global Management also sold its entire shareholding of 1.44% in Zomato for Rs 11.2 bn. The shares were offloaded by Internet Fund III Pte Ltd, the venture capital fund managed by the US-based investment manager, via open market transactions.

Zomato shares are currently trading higher by 4% on the BSE.

To know more on Zomato, watch the below video by Aditya Vora where he decodes what investors and traders should do with the stock of Zomato.

The Latest on Chandrayaan-3

In latest developments from India's space mission on the moon, a Laser-Induced Breakdown Spectroscope (LIBS) instrument onboard the Rover unambiguously confirmed the presence of Sulphur (S) in the lunar surface near the south pole.

The instrument also detected aluminium, calcium, iron, chromium, titanium, manganese, silicon and oxygen, as expected, ISRO said.

While the search for Hydrogen is underway.

Yesterday, ISRO shared another update on Chandrayaan 3's Pragyan Rover which is on its expedition on the Lunar south pole.

The rover is now on its way to uncover Moon secrets.

Note that India took a giant leap earlier this month as the Chandrayaan-3 lander module successfully landed on the moon's South pole, making it the first country to have achieved the historic feat.

The country became the fourth after the US, China, and Russia to have successfully landed on the moon's surface.

Since you're interested in space tech, check out our recent editorial - The Investing Opportunity in India's Chandrayaan Success.

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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