SGX Nifty Down 198 Points, Suzlon's Wind Energy Order, Why Tyre Stocks are Rallying, and Top Buzzing Stocks Today

Wed, 7 Sep Pre-Open

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On Tuesday, Indian share markets remained volatile throughout the day and ended on a flat note.

The gains made by power stocks were offset by a fall in IT stocks and FMCG stocks.

At the closing bell on Monday, the BSE Sensex  ended lower by 49 points.

Meanwhile, the NSE Nifty closed down by 10 points.

NTPC, Bharti Airtel, and Tata Steel were among the top gainers.

Bajaj Finserv, Mahindra & Mahindra, and HUL on the other hand, were among the top losers.

The broader markets ended on a positive note. The BSE Mid Cap index up by 0.5% while the BSE Small Cap index ended higher by 0.1%.

Sectoral indices ended on a mixed note with stocks in the oil & gas sector, power sector and energy sector witnessing most of the buying.

On the other hand, stocks in the FMCG sector, banking sector, and finance sector witnessed selling pressure.

The best FMCG stocks in India stayed resilient yesterday and ended on a positive note.

Shares of Apollo Tyres, Tata Investments, and NTPC hit their 52-week high.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

At 7:20 AM today, the SGX Nifty was trading down by 198 points, or 1.1% lower at 17,476 levels.

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

The fall in Indian futures comes on the back of a sharp slump in US stocks, as investors weighed what strong economic data and rising rates mean for the Federal Reserve's aggressive tightening campaign.

Gold prices were trading flat at Rs 50,433 per 10 grams, at the time of Indian market closing hours yesterday.

Meanwhile, silver prices for the latest contract on MCX were trading higher by 0.9% at Rs 53,390 per kg.

Note that gold prices have fallen and have taken quite a knock in recent weeks. Silver price too have fallen a lot in recent days.

The question on everyone's mind now is when will gold and silver prices recover?

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

Kalpataru Power Transmission share price will be among the top buzzing stocks today.

Kalpataru Power Transmission has received a new order worth Rs 13 bn.

The company received orders in India and overseas market in the transmission & distribution (T&D) business. These orders are also for pipeline laying works and for metro rail electrification in India.

Kalpataru Power Transmission is one of the largest specialized EPC companies in India.

Aster DM Healthcare share price will also be in focus today.

Aster DM shares hit a 52-week high yesterday after the company opened its 200th pharmacy in Kerala.

The company's retail chain has gone from 1 to 200 in 18 months. The last 100 Aster Pharmacies have come up in just eight months, making it one of the fastest-growing pharmacy chains in India.

Market participants will also track shares of Reliance Industries.

Reliance Industries will acquire 79.4% stake in US-based SenseHawk for US $32 m. This is to accelerate solar projects from planning to production by helping companies streamline processes and use automation.

Tyre Stocks in Fast Lane

Shares of tyre companies rallied up to 8% on Tuesday's intra-day trade in an otherwise weak market. The rally was on the back of expectation of strong demand and margin expansion ahead.

Shares of Apollo Tyres and Ceat hit their 52-week highs. While other tyre stocks, JK Tyre, MRF gained up to 8%.

After two years of contraction, the Indian tyre industry has recovered in FY22. The growth in FY22 is driven by increase in volumes.

While the demand is favourable, higher input prices of key raw materials such as natural rubber; crude derivatives etc. will keep industry margins and earnings under pressure.

Suzlon Energy's Wind Energy Order

Renewable energy solution provider Suzlon Energy on Tuesday said that it has won an order to set up 180.6 MW wind energy.

This order is part of the bid won under the SECI (Solar Energy Corporation of India) tranche XI auctions by Sembcorp, which has operations spread across seven states in India.

Commenting on the order win, Suzlon Energy in the BSE filing said,

Suzlon Group, India's largest renewable energy solutions provider, today announced a new order win for the development of a 180.6 MW wind power project for Sembcorp's renewables subsidiary Green Infra Wind Energy Limited.

For the project the company will install 86 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each.

The project is located at Kanakagiribad, Bagalkot in Karnataka, and is expected to be commissioned in 2024.

Suzlon Energy is primarily engaged in the business of manufacturing of WTGs and related components.

Since niche renewable energy stocks interest you, check out these 4 little known stocks in the renewable energy sector.

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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