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Sensex Rallies 750 Points, Nifty Above 17,850; Tata Motors, Hero MotoCorp & IndusInd Bank Surge 4%
Tue, 20 Sep 10:30 am

Sensex Rallies 750 Points, Nifty Above 17,850; Tata Motors, Hero MotoCorp & IndusInd Bank Surge 4%

Asian share markets are trading slightly higher today, after two days of losses and following a positive lead from Wall Street.

However, traders remained nervous ahead of the Federal Reserve's interest rate decision later this week.

The Nikkei rose by 0.4% while the Hang Seng was up 1%. The Shanghai Composite is trading higher by 0.4%.

Wall Street's main indices ended a seesaw session higher on Monday, as investors turned their attention to this week's policy meeting at the Federal Reserve and how aggressively it will hike interest rates.

The Dow Jones rose by 0.6% while the tech heavy Nasdaq ended higher by 0.8%.

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

Benchmark indices staged a gap-up opening following the trend on SGX Nifty. As the session progressed, gains were extended.

At present, the BSE Sensex is trading higher by 780 points. Meanwhile, the NSE Nifty is trading up by 241 points.

IndusInd Bank and HCL Technologies are among the top gainers today.

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

Broader markets are trading on a strong note. The BSE Mid Cap index is up by 1.6% while the BSE Small Cap index is trading higher by 1.4%.

Sectoral indices are trading in green today. Stocks in the consumer durable sector and realty sector are witnessing most of the buying.

Gujarat Fluorochemicals and Maruti Suzuki 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.

In the commodity markets, gold prices rise. Today, gold prices are trading higher by Rs 51. Currently, gold prices are trading at Rs 49,353 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 56,995 per kg. Silver prices too have fallen a lot in recent days.

The rupee is trading at 79.6 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.

Speaking of stock markets, note that during the covid-19 period, one of the most affected industry was the travel and tourism industry. Some of the stocks from the sector fell nearly 70% in less than two months.

chart

But with festive season around the corner, hotel stocks are booming again.

All the top companies have laid out their growth plans. Many speak of becoming debt free by 2025 and also add a lot of rooms.

It remains to be seen how the above developments pan out.

Moving on to stock specific news... Adani group stocks are among the top buzzing stocks today.

Adani Group's flagship company Adani Enterprises on Monday raised Rs 1 bn by allotment of non-convertible debentures on a private placement basis. The debentures have a face value of Rs 10 lakh each.

Recently, the Gautam Adani's group completed the acquisition of major Indian cement players, Ambuja Cements and ACC becoming the second largest cement player in the country.

Talking about Adani group, it is foraying into various sectors, making big moves in green energy sector. To know more, read our editorial on Adani group's next big leap in green energy sector: 3 gigafactories in the making.

Further in news from the electric vehicle (EV) sector, Olectra Greentech bags a huge order.

Olectra Greentech announced that the consortium of the company and Evey Trans (EVEY) has received Letter of Award from one of the State Transport Corporations for 123 electric buses.

This order for supply of 123 electric buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years (Contract Period). Value of this contract is approximately Rs. 1.9 bn.

EVEY shall procure these buses from Olectra and which shall be delivered over a period of 9 months.

Maintenance of these buses shall also be undertaken by the Olectra during the contract period.

Speaking of electric buses, on 19 August 2022, Nitin Gadkari, minster of Road Transport & Highways, unveiled the first electric double-decker bus in India.

Switch Mobility manufactures these buses. Switch Mobility is electric vehicle arm of Ashok Leyland.

If you want to know what's brewing in the electric bus segment, read out editorial on the companies which are critical to the success of India's electric bus 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!

Read the latest Market Commentary


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