Sensex Today Trades Higher | IRFC Soars 13%, Raymond 8% | BPCL & ONGC Among Top Gainers

Tue, 5 Sep 10:30 am

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Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy, while traders awaited the outcome of a policy meeting of the Reserve Bank of Australia.

The Nikkei is trading 0.2% lower while the Hang Seng index is down 1.5%. The Shanghai Composite is trading down by 0.6%.

A choppy day of trading on Wall Street ended Friday with slight gains for stocks, as the market notched its second straight winning week. The US stock markets remained closed on Monday, 4 September 2023 on account of the Labor Day holiday.

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	136.8	-0.55	-0.40%	138.58	135.94	138.58	83.45
Apple	189.46	1.59	0.85%	189.92	188.28	198.23	124.17
Meta	296.38	0.49	0.17%	301.74	294.47	326.2	88.09
Tesla	245.01	-13.07	-5.06%	259.08	242.01	313.8	101.81
Netflix	439.88	6.2	1.43%	445.5	435.93	485	211.73
Amazon	138.12	0.11	0.08%	139.96	136.88	143.63	81.43
Microsoft	328.66	0.9	0.27%	331.99	326.78	366.78	213.43
Dow Jones	34,837.70	115.8	0.33%	34,979.18	34,720.70	35,679.13	28,660.94
Nasdaq	14,031.80	-3.2	-0.02%	14,149.62	13,982.42	14,446.55	10,088.83

Data Source: Equitymaster

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

At present, the BSE Sensex is trading higher by 151 points. Meanwhile, the NSE Nifty is trading down by 50 points.

BPCL and ONGC are among the top gainers today.

Hindalco and Tata Steel on 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 is trading higher by 0.9%.

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

Shares of Coforge and Dixon Technology hit their 52-week high today.

The rupee is trading at Rs 82.84 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 59,393 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 74,286 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 stock markets, the electronic manufacturing sector is buzzing with companies like Dixon and Amber taking a high mind share, however, with astronomical valuations, is it worth betting on them?

Find out why Hidden Treasure, Aditya Vora believes that these 2 less known small cap stocks should be on your watchlist.

Tune in to the below video for more.

SBI offers UPI integration

State Bank of India (SBI) has introduced UPI interoperability in its Digital Rupee (e rupee), also known as the Central Bank Digital Currency (CBDC). This feature is accessible through the 'e rupee by SBI' application and allows SBI CBDC users to scan merchant UPI QR codes for transactions.

SBI's participation in the RBI's retail digital e-rupee project in December 2022 paved the way for this integration to promote the use of digital currencies in everyday transactions.

SBI believes this integration will have a significant impact on the digital currency ecosystem. The bank strives to provide secure and efficient transaction solutions.

This move connects CBDC with the widely used UPI platform, potentially changing the payment landscape in India. It suggests a future where CBDC plays a more central role in everyday financial transactions.

From May 2022 to May 2023, SBI shares have delivered a return of 24.9%.

State Bank of India (SBI)'s net profit crossed the mark of Rs 500 bn in the financial year 2023. It is the highest-ever net profit reported by any bank.

This makes it among 5 Indian Banks that Posted Record High Profits in FY23.

Cipla acquires Actor Pharma

To expand its footprint in the South African market, Cipla will acquire a privately owned consumer health and generic medicine company Actor Pharma. The acquisition will take place for US$ 48.6 million (m).

As per the company, the transaction was executed through Cipla's wholly-owned subsidiary in South Africa, which signed a binding term sheet with Actor Holdings to acquire 100% of the issued ordinary shares of Actor Pharma.

With Actor Pharma's focus on the consumer-driven market and pipeline of new launches, Cipla expects its over-the-counter revenue to get a boost.

The acquisition is expected to be signed within 14 days and the transaction is likely to be completed within 4 months.

Cipla is one of pharma companies in India that has solid growth in sales and profits...and a high Return on Equity (ROE)...

Why IDB Bank share price is rising

The share price of IDBI jumped 3% today post the invitation of bids by the government for strategic divestment of the bank.

The Central Government has invited bids to appoint an asset valuer for strategic divestment of the bank. The bids will have to be submitted by 9 October 2023.

The asset valuer will give fair value of assets & liabilities of the bank. The bank's investments, loans & advances, deposits, borrowings, and other liabilities will be considered for valuation.

The Indian government is looking to offload its 30.48% stake in IDBI Bank, while Life Insurance Corp (LIC) of India will sell a 30.24% shareholding. Presently, the Indian government and LIC collectively own about 95% of IDBI Bank.

For more detailed updates, read our Banks Public Sector (PSU) report and check the latest Banks Public Sector (PSU) results. Also, check out Equitymaster's powerful stock screener to find the top banking companies in India.

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