Sensex Today Tanks 400 Points | HDFC Bank Sheds 3% | Reliance Industries & BPCL Among Top Losers

Wed, 20 Sep 10:30 am

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Asian markets declined after Wall Street posted modest losses ahead of the US Federal Reserve's policy decision, with traders betting interest rates will be higher for longer to curb inflation.

The Nikkei is trading 0.5% lower while the Hang Seng index was trading 0.8% lower and Shanghai Composite is trading 0.3% lower.

US stocks dipped on Tuesday as investors are bracing for Federal Reserve's monetary policy decision, to be announced on Wednesday.

The Nasdaq ended 0.2% lower while the Dow Jones Industrial Average ended 0.3% lower.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	138.83	-0.13	-0.09%	139.18	137.5	139.55	83.45
Apple	179.07	1.1	0.62%	179.63	177.13	198.23	124.17
Meta	305.07	2.52	0.83%	306.17	299.81	326.2	88.09
Tesla	266.5	1.22	0.46%	267.85	261.2	313.8	101.81
Netflix	396.2	1.8	0.46%	398.23	390.25	485	211.73
Amazon	137.63	-2.35	-1.68%	138.84	135.56	145.86	81.43
Microsoft	328.65	-0.41	-0.12%	329.39	324.51	366.78	213.43
Dow Jones	34,517.70	-106.6	-0.31%	34,597.56	34,311.69	35,679.13	28,660.94
Nasdaq	13,678.20	-32.1	-0.23%	13,705.15	13,578.87	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 430 points. Meanwhile, the NSE Nifty is trading down by 138 points.

NTPC and Coal India are among the top gainers today.

BPCL and HDFC Bank on the other hand are among the top losers today.

Broader markets are trading mixed. The BSE Mid Cap index and the BSE Small Cap index is trading flat.

Sectoral indices are trading on a positive note with stocks in the capital goods sector and auto sector are witnessing buying.

Meanwhile, stocks in finance sector and realty sector witness selling pressure.

Shares of TVS Motors and TCS hit their 52-week high today.

The rupee is trading at Rs 83.19 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 59,220 per 10 grams today.

Meanwhile, silver prices are trading marginally 0.5% lower at Rs 72,212 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, owning scores of stocks delivering 15% annual rate of return or thereabouts is not a bad idea.

But do not cut the potential mango tree along with the grass.

Only then will you have a few 15% return contenders getting converted into the 15 baggers of your portfolio over time.

In the below video, Research Analyst, Tanushree Banerjee talks about catalyst to convert 15% CAGR into 15x return.

Tata Motors To Raise the Price

Tata Motors announced on 18 September that it will increase the prices of its commercial vehicles, effective 1 October 2023, by up to 3%.

This will lead to higher revenue for the company from the next quarter, assuming sales growth continues.

The price increase is to offset the residual impact of the past input costs and will be applicable across the entire range of commercial vehicles.

For most of last year and earlier this year, the auto industry faced high input costs due to a rise in commodity prices. This put pressure on the margins of the company and led to passing the cost to customers in a gradual manner. However, commodity prices have softened since then.

Domestic sales of medium and heavy internal combustion vehicles (M&HICV) in August 2023, including trucks and buses, stood at 13,306 units, compared to 12,069 units in August 2022.

Total sales for M&HICV Domestic & International Business in the month stood at 13,816 units compared to 12,846 units in August 2022.

The largest growth came in passenger carriers, registering sales growth of 30% YoY.

Sales of Heavy Commercial Vehicles (HCV), which primarily includes trucks, rose 14.4% YoY.

Tata Motors remains in the fast lane when it comes to electric vehicles (EVs). The Tata group is leading India's EV revolution, and Tata Motors has remained at the forefront.

Also, the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

It remains to see how it pans out.

CIL, NHPC To Pump Storage

State-run Coal India and India's largest hydropower company NHPC may join hands to explore the possibility of converting abandoned or closed mines into pump storage projects (PSP).

A person aware of the development said the coal ministry under its plan to set up PSPs at de-coaled areas, where all the coal has been mined, has directed Coal India to partner with NHPC and other related agencies. Coal India is currently in the process of appointing a consultant for the project.

PSPs are hydro-projects where two reservoirs at different heights generate power as water moves through turbines.

Another person said some of the closed mines may be auctioned out on an 'as is where is' basis for setting up PSPs, from which the developer-cum-operator would be able to sell power.

Up to this point, the mining company and its subsidiaries have taken various actions to repurpose their mines.

These actions include using fly ash to reclaim land, creating eco and mine tourism parks, planting trees, developing fish farms, utilizing the mines as a source of drinking water and for domestic use, and producing sand from opencast mines.

The plan for setting up pump storage projects comes at a time when there is both policy focus and investor interest in the segment.

To know whether Coal India is about to enter a strong bull run, check out Coal India: The Next SJVN.

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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Indian Share Market Update: Top Gainers and Losers