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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Indian Stock Market News September 12, 2022
Sensex Ends 322 Points Higher; Adani Ports, Titan & Tech Mahindra Top Gainers Mon, 12 Sep Closing
Indian share markets traded on a firm note throughout the day to end higher.
The global stock market rally lifted Indian benchmarks as investors shrugged off hawkish policies by Fed.
However, benchmark indices ended off day's high, ahead of the retail inflation data for August due for release later today.
At the closing bell, the BSE Sensex stood higher by 322 points (up 0.5%).
Meanwhile, the NSE Nifty closed up by 103 points (up 0.6%).
Adani Ports, Titan, and Divis Laboratories were among the top gainers today.
Coal India, Shree Cement, and HDFC on the other hand, were among the top losers today.
The SGX Nifty was trading at 17,940, up by 98 points, at the time of writing.
The broader markets ended on a positive note. The BSE Mid Cap index ended up by 0.9% and the BSE Small Cap index ended higher by 1%.
All sectoral indices ended on a strong note with stocks in the realty sector, IT sector, and media sector witnessing most of the buying.
Among the top media stocks in India, Zee Entertainment, Navneet Education and Entertainment Networks ended higher in the range of 2-5%.
Shares of Adani Transmission, Eicher Motors and Hindustan Aeronautics 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.
Outside the home ground, Asian share markets ended on a strong note.
At the close in Tokyo, the Nikkei ended on a positive note, up by 1.2% while the Hang Seng jumped 2.7%. The Shanghai Composite ended higher by 0.8%.
US stock futures are trading on a positive note today with Dow futures trading up by 0.4%.
The rupee is trading at 79.6 against the US$.
Gold prices are currently trading up by 0.1% at Rs 50,529 per 10 grams.
Meanwhile, silver prices for the latest contract on MCX are trading higher by 1.6% at Rs 55,050 per kg.
Speaking of stock markets, Rahul Shah talks about Tata Elxsi's performance in the current bull rally, in his latest video.
From its bottom in March 2020 to the top in August 2022, the stock has been a whopping 20-bagger, but what lies ahead for this high-quality stock?
Tune in to know the answer.
In news from the logistics sector, Adani Ports and Special Economic Zone (SEZ) was among the top buzzing stocks today.
Share price of Adani Ports and SEZ hit a 52-week high today as company recorded highest ever cargo volume and quarterly EBITDA.
The shares jumped over 3% intraday on the back of improved business outlook, and strong earnings in the June quarter.
The company reported a record EBITDA of Rs 30 bn, up 11% year on year (YoY) on the back of revenue growth for the ports and logistics business.
It continued this strong performance in July and recorded never achieved performance of 100 MMT of cargo through-put in the initial 99 days of FY23.
Commenting on it, Adai Ports and SEZ in exchange filling said,
- With APSEZ set to commission two new terminals in the coming months, this growth story will gain more momentum.
The container terminal at Gangavaram Port will become operational from September month, while the 5 MMT LNG terminal at Dhamra will be ready by December end. This LNG terminal has a take-or-pay contract with couple of O&G majors.
The recovery in import of thermal coal volumes is one of the key catalysts for FY23 volume guidance. Besides persistent cargo diversification efforts aid incremental volumes in containers, LNG at Dhamra and more dry and liquid cargo at key ports.
Adani Ports is the largest private sector port operator in India. It provides integrated services in the ports, logistics, and SEZ segments through a connected network of 12 ports across seven maritime states.
With the government of India taking initiatives to boost infrastructure in the country, Adani Ports is one of the stock benefiting from this trend.
Given the current volatility in the market, shares of the company have gained 28% so far in 2022.
Moving on to news from the IT sector, Happiest Minds Technologies share price was in focus today.
Happiest Minds Technologies gained 3% intraday today on announcing expansion of Noida campus.
With the additional facility, the company said it would have a capacity of 450 in the NCR region.
This launch is in the lop with the announcement of Happiest Minds' new office space acquisition in Bengaluru of a grade A 1,600-seater property in July this year and also an expansion in newer locations like Bhubaneswar planned later this year.
Commenting on it, Managing Director, and CFO, Venkatraman Narayanan said,
- NCR is a digital hub with a strong eco-system of vibrant start-ups, successful enterprises, and education hubs which makes it an important talent source for us while dovetailing nicely well with our overall growth strategy.
Happiest Minds Technologies is one of the multibagger stocks of 2021 which gained 320% last year.
To know more, check out Happiest minds Technologies news and analysis.
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!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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