Sensex Today Trades Lower | GNFC Tanks 5% | Hindalco and Infosys Among Top Losers

Mon, 18 Sep 10:30 am

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Asian equities fell in the wake of big tech declines on Wall Street as traders geared up for a raft of policy decisions this week from the US, UK and Japan.

Tech shares across the region retreated, with a gauge of the sector's stocks set to post its biggest decline in almost a month.

The Nikkei is trading 1.1% higher while the Hang Seng index is trading 1% lower. The Shanghai Composite is trading marginally higher.

US stock market witnessed sharp correction on Friday as all three key benchmark indices Nsadaq, Dow Jones and S&P 500 lost heavily on Friday.

Dow Jones Index ended 0.83% lower, whereas tech heavy weight Nasdaq corrected 1.56%.

Here's a table showing how US stocks performed on Friday last week:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	138.3	-0.69	-0.50%	139.36	137.18	139.55	83.45
Apple	175.01	-0.73	-0.42%	176.5	173.82	198.23	124.17
Meta	300.31	-11.41	-3.66%	312	298.75	326.2	88.09
Tesla	274.39	-1.65	-0.60%	278.98	271	313.8	101.81
Netflix	396.94	-3.55	-0.89%	404.7	395.03	485	211.73
Amazon	140.39	-4.33	-2.99%	143.57	140.09	145.86	81.43
Microsoft	330.22	-8.48	-2.50%	337.4	329.65	366.78	213.43
Dow Jones	34,618.20	-288.9	-0.83%	34,902.04	34,572.27	35,679.13	28,660.94
Nasdaq	13,708.30	-217.7	-1.56%	13,895.75	13,684.24	14,446.55	10,088.83

Source: Equitymaster

Back home, Indian share markets are trading on a negative note. At present, the BSE Sensex is trading 100 points lower and NSE Nifty is trading 15 points lower.

M&M and Cipla are among the top gainers today.

Hindalco and Infosys on the other hand are among the top losers today.

Broader markets are trading mixed.

The BSE Mid Cap index is trading marginally lower and the BSE Small Cap index is trading marginally higher.

Sectoral indices are trading mixed with stocks in the FMCG sector, power sector and capital goods sector are witnessing most buying.

Meanwhile stocks in metal and realty sector witness selling.

Shares of M&M and Grasim hit their 52-week high today.

The rupee is trading at Rs 83.12 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 59,126 per 10 grams today.

Meanwhile, silver prices are trading 0.3% higher at Rs 72,339 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, smallcap stocks have been on fire for the last few months.

Some smallcaps have even doubled in price since March.

Investors and traders alike are looking for the next hot smallcap to buy.

In the below video, chartist, Brijesh Bhatia talks about 5 smallcap stocks that you can keep in your watchlist.

HAL To Acquire Fighter Jets

The government on 15 September approved a slew of proposals to bolster India's defence sector. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved a total of nine acquisition proposals totalling Rs 450 bn.

Among them, the ministry okayed the proposal for the procurement of 12 Su-30MKIs for the Indian Air Force, which would be manufactured in India by Hindustan Aeronautics.

The project would include manufacturing the aircraft and related ground systems. Per requirement, the Su-30MKIs will have to be equipped with more than 60% indigenous content.

These would be the most modern Su-30 MKI aircraft of the Indian Air Force; they will come mounted with multiple Indian weapons and sensors.

The Indian Air Force will also be getting avionic upgradation of Dornier aircraft to improve the accuracy and reliability for operations and the Dhruvastra Short Range Air-to-Surface Missile as a potent indigenous precision-guided weapon for indigenously built ALH Mk-IV choppers.

HAL is one of the top 5 defence companies in India.

Hindustan Aeronautics is poised for takeoff. For more check out Multibagger Defence Stock Declares Dividend and Split: Blue Skies Ahead.

It is among the Top 5 High Dividend Yield PSU Stocks Growing at Amazing Speed.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD) has set a target of doubling defense production to US$ 25 bn by 2025.

The increase in budgetary allocation, along with other factors, will ensure that India's top defense stocks remain in the limelight for the foreseeable future.

That is why we believe that the defence sector could produce the next set of multibagger stocks over the long run.

BEL Bags Order From Cochin Shipyard

Cochin Shipyard Limited has placed an order worth Rs 21.2 bn with Bharat Electronics Limited. The order is for the supply of sensors, weapon equipment, fire control systems, and communication equipment. These items will be used in six next-generation missile vessels and anti-surface warfare corvettes for the Indian Navy.

This project will have the participation of Indian electronics and associated industries, including MSMEs, which are sub-vendors of BEL.

The equipment manufactured by BEL is part of the 'Aatmanirbhar Bharat' programme.

The company has also received additional orders worth Rs 8.9 bn since the last disclosure on 25 August and the said orders pertain to the upgrade of AFNET SATCOM N/W, upgrade of Akash missiles with RF Seeker, inertial navigation system and other equipment with accessories and spares, among others.

In the fiscal year 2023-24, BEL has accumulated orders totalling Rs 143.8 bn, including this one, it stated.

BEL is one such Stock that Turned Rs 1,000 into 5,000 in 5 Years.

It is among five government sector undertakings having the highest revenue and profit growth. For more, check out the Top 5 PSU Companies in India by Growth.

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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Indian Share Market Update: Top Gainers and Losers