Sensex Today Trades Higher | Cochin Shipyard Soars 9%, IRFC 5% | L&T and NTPC Among Top Gainers

Fri, 8 Sep 10:30 am

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Asia's stock markets dipped on Friday, with tech shares tumbling on deepening Sino-US tensions, while the dollar was set to seal its longest winning streak in nine years as investors braced for US interest rates to stay higher for longer.

The Nikkei is trading 1.3% lower while the Hang Seng index is down 1.3%. The Shanghai Composite is trading down by 0.4%.

US stocks ended mixed on Thursday as concerns resurfaced over the Federal Reserve's interest rate policy path, and whether policymakers will enact another hike this year.

The Nasdaq dropped 0.9% as tech mega caps stumbled, while the Dow Jones Industrial Average ended marginally higher.

Here's a table showing how US stocks performed on Thursday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	136.2	0.83	0.61%	136.58	133.96	138.58	83.45
Apple	177.56	-5.35	-2.92%	178.21	173.54	198.23	124.17
Meta	298.67	-0.5	-0.17%	307.05	292.22	326.2	88.09
Tesla	251.49	-0.43	-0.17%	252.81	243.27	313.8	101.81
Netflix	443.14	-2.62	-0.59%	444.6	436.7	485	211.73
Amazon	137.85	2.49	1.84%	138.03	133.16	143.63	81.43
Microsoft	329.91	-2.97	-0.89%	333.08	329.03	366.78	213.43
Dow Jones	34,500.70	57.5	0.17%	34,560.86	34,351.18	35,679.13	28,660.94
Nasdaq	13,748.80	-123.6	-0.89%	13,774.64	13,642.47	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 lower by 177 points. Meanwhile, the NSE Nifty is trading up by 40 points.

NTPC and L&T are among the top gainers today.

Hindalco and JSW Steel 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 and the BSE Small Cap index is trading higher by 0.5%.

Sectoral indices are trading on a mixed note with stocks in the power sector and realty sector are witnessing buying. While stocks in the healthcare sector and metal sector witnessing selling pressure.

Shares of Trent and L&T hit their 52-week high today.

The rupee is trading at Rs 83.18 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 59,115 per 10 grams today.

Meanwhile, silver prices are trading marginally 0.4% higher at Rs 72,089 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, IRFC has to be one of the hottest stocks around. But why has it run up so fast, so soon?

What is the market seeing that we are not? Or is the market being too optimistic about the stock's future?

Tune to the video below by Rahul Shah to know more.

Nazara Tech to raise Rs 4 billion

Nazara Technologies, a gaming and sports media firm, said on Thursday its board has approved raising funds worth Rs 4.1 bn by issuing more than 5.7 million equity shares.

The funds will be invested via three schemes: SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund.

SBI Multicap Fund will invest around Rs 2 bn, SBI Magnum Global Fund around Rs 1.2 bn, and SBI Technology Opportunities Fund Rs 900 m.

Nazara will use the funds for growth objectives including strategic acquisitions and investments in various companies.

Nazara's announcement comes after it recently raised Rs 1 bn from Zerodha co-founder Nikhil Kamath's two firms: Kamath Associates and NKSquared.

IT stocks offering decent return on Equity (ROE), sales growth and profit growth appeal to many.  For more check out top Indian IT companies in India.

ONGC to infuse funds in OPaL

State-owned Oil and Natural Gas Corporation (ONGC) will infuse about Rs 150 bn in OPaL as part of a financial restructuring exercise that will see gas utility GAIL being edged out of the petrochemical firm.

ONGC currently holds a 49.4% stake in ONGC Petro-additions Ltd (OPaL), which operates a mega petrochemical plant at Dahej in Gujarat. GAIL (India) has 49.2% interest and Gujarat State Petrochemical Corp (GSPC) has the remaining 1.4%.

The ONGC board last week approved a financial restructuring of the petchem firm which had been making losses due to its high debt. ONGC will convert share warrants into equity, buy back debentures and invest Rs 70 bn more equity, which will give it about 95% stake.

The proposal approved includes conversion of share warrants issued by OPaL and subscribed by ONGC into equity shares upon payment of final call money of Rs 862.8 m at the rate of Rs 0.25 per warrant.

OPaL was incorporated on November 15, 2006, as a mega, grassroots petrochemical complex to use naphtha produced by ONGC at Hazira as well as rich gas being imported at Dahej.

GAIL had in 2008 picked up a stake in OPaL, which was then building the mega petrochemical complex at Dahej. But the project faced major cost and time overruns and GAIL decided to restrict its equity contribution to the original Rs 9.9 bn.

To become net-zero by 2038, ONGC has announced a massive Rs 2 trillion investment in sustainable development projects. For more, check out ONGC's Rs 2 Trillion Investment to Reduce Carbon Emissions. 5 Things to Know...

Ashok Leyland's Drive to be a Global Leader

Hinduja group flagship Ashok Leyland on Thursday said its aiming to be among the top 10 global commercial vehicle manufacturers in the near future.

According to company chairman Dheeraj Hinduja, the heavy commercial vehicle maker is looking at exploring newer markets.

the company's sales volume was growing in the Indian market and the Avtar product developed by Ashok Leyland was a modular product, and they have been developed with a mindset to serve international markets.

In the last 16 months, the company appointed 13 distributors in the African market, with some of them having their own Assembly facility.

Ashok Leyland is among the top EV manufacturers 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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