Sensex Zooms 500 Points, Nifty Above 17,750; Shree Cement, Bharti Airtel & IndusInd Bank Top Gainers

Thu, 8 Sep 10:30 am

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Asian share markets opened higher today as investors cheered rallies on Wall Street while keeping an eye on a surging dollar driven by lingering fears of aggressive US rate hikes.

The Nikkei rose by 2% while the Hang Seng was down by 0.7%. The Shanghai Composite is trading higher by 0.1%.

US stock indices climbed the most in roughly a month as bond yields eased, with investors shrugging off hawkish remarks made by Federal Reserve officials on Wednesday.

Traders tried to gauge whether the Federal Reserve will succeed in its mission to get inflation under control.

The Dow Jones rose by 1.4% while the tech heavy Nasdaq ended higher by 2.1%.

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

Benchmark indices staged a gap-up opening today following the trend on SGX Nifty and tracking gains in global peers.

At present, the BSE Sensex is trading higher by 521 points. Meanwhile, the NSE Nifty is trading up by 141 points.

Bharti Airtel and ICICI Bank are among the top gainers today.

Tata Steel and Nestle are among the top losers today.

Broader markets are trading on a strong note. The BSE Mid Cap index is up by 0.5% while the BSE Small Cap index is trading higher by 0.8%.

Sectoral indices are trading on a positive note with the exception of realty sector.

Stocks in the IT sector and banking sector are witnessing most of the buying.

Among the best banking stocks in India, HDFC Bank and ICICI Bank are up half a percent.

Adani Enterprises and Schaeffler 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 detailed dividend comparison piece on Vedanta vs NALCO.

The reason we say this is because dividend investing is an evergreen strategy in the stock markets and will continue to prevail in the years to come, but it is more so relevant in the current environment where uncertainty is ruling the stock market.

In the commodity markets, gold and silver prices rise today. Today, gold prices are trading higher by Rs 32. Currently, gold prices are trading at Rs 50,038 per 10 grams.

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

Meanwhile, silver prices are trading higher at Rs 54,188 per kg. Silver prices 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 media sector, Zee Entertainment Enterprises (ZEE) needs approval from shareholders for the merger with Sony Pictures Network India (India).

The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed Zee Entertainment to convene a shareholders' meet on 14 October for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network).

The order, passed on 24 August, but uploaded to the bourses on Wednesday, comes close on the heels of the Competition Commission of India (CCI)'s observation that the $10-billion merger could hurt competition and that greater scrutiny of the deal was needed.

Speaking of Zee, take a look at the chart below to see how it has performed on a YTD basis.

To know more, read our editorial on why Zee Entertainment share price is falling.

Further in news from the IT sector, Tata Consultancy Services (TCS) enters in a contract with Nokia.

Telecom gear maker Nokia has selected TCS for redesigning its employee management system across 130 countries where it operates.

Under the agreement, TCS will redesign Nokia's human capital management processes and deploy a new cloud-based platform to drive simplification for a better employee experience.

Nokia is now replacing its on-premise HR systems with a new cloud-based Human Capital Management platform (HCM) to standardise HR processes on a common data platform.

This will enable Nokia to provide a consistent employee experience across teams and more easily manage and scale HR services globally.

TCS has the highest revenue and is among the top 5 IT companies in India by revenue.

It also features on the list of best IT stocks in India.

Moving on to news from the power sector, Tata Power has some interesting news.

EV charging solutions provider Tata Power has achieved a landmark of setting up more than 450 EZ charging points across 350 national highways in the country.

Tata Power EZ Charging Points are now present across major national highways including the longest highway NH 44 which connects J&K to Tamil Nadu; the busiest highway NH 19 connecting Delhi, UP, Bihar, West Bengal, and Jharkhand; and other highways connecting major states across South, North, East and West India i.e. NH 65, NH 48, NH 16, etc.

This is in line with the company's nationwide plan of setting up charging points pan India.   These 450+ EV charging points on the highways are installed at diverse locations like hotels, commercial complexes, car dealerships, etc., across more than 25 states and 5 union territories to provide ease of charging to reduce range anxiety and ensure seamless green and sustainable mobility.

Look like Tata group is all set to ready to conquer the EV revolution in India. To know more check out how the Tata group is riding India's EV revolution.

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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