Sensex Trades 300 Points Higher, Dow Futures Down by 70 Points

Mon, 11 Oct 12:30 pm

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Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 348points, up 0.6%, at 60,407 levels.

Meanwhile, the NSE Nifty is trading up by 127 points.

Tata Motors and Coal India are among the top gainers today. TCS and Wipro are among the top losers today.

The BSE Mid Cap index is trading up by 0.9%.

The BSE Small Cap index is trading up by 1%

On the sectoral front, stocks from the real estate sector are witnessing most of the buying interest.

On the other hand, stocks from the software sector are witnessing most of the selling pressure.

US stock futures are trading lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 132 points (down 0.9%) while Dow Futures are trading down by 70 points (down 0.2%).

The rupee is trading at 75.22 against the US$.

Gold prices are trading down by 0.3% at Rs 46,839 per 10 grams.

Gold prices edged lower in India today amid weak global cues. On MCX, gold futures were down 0.2% to Rs 46,937 per 10 grams. Gold prices are up significantly from Rs 45,700 levels hit in September-end.

In global markets, gold prices were flat today despite a dip in the dollar. Spot gold was flat at US$ 1,756.3 per ounce.

The benchmark US 10-year Treasury yields touched its highest level since early June on Friday on fears that the US Federal Reserve would start paring stimulus this year despite weak jobs data.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of precious metals, India's #1 trader Vijay Bhambwani discusses whether you should buy silver ETFs, in his latest video for Fast Profits Daily.

Moving on to stock-specific news...

Among the buzzing stocks today is Macrotech Developers.

Shares of real estate firm Macrotech Developers were in focus today after the company said that it has sold properties worth Rs 30 bn during the September 2021 quarter on better demand.

The company looks to double its sales bookings in the second half to reach the Rs 90 bn target this fiscal year.

Macrotech Developers is one of the leading real estate developers in the country. The company markets its properties under the "Lodha" brand.

Macrotech Developers MD and CEO Abhishek Lodha said,

• Sales bookings in July-September jumped over two times to Rs 20 bn from the previous quarter, taking the total sales bookings to Rs 29.6 bn in the first half of this fiscal year.
  
  We need to do Rs 50 bn of sales bookings during the second half of the financial year 2022 from our residential portfolio. Rs 10 bn will come from non-regular sales - monetisation of commercial and warehousing properties.

Lodha highlighted that momentum in housing sales has been very strong since June, helping the company to achieve a record sales bookings of over Rs 20 bn during the September quarter.

Macrotech Developers, which got listed on the stock exchanges in April, raised Rs 25 bn through its initial public offering (IPO).

The company focuses only on the Mumbai Metropolitan Region (MMR) and Pune markets.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, Macrotech Developers shares were trading up by 2.5% on the BSE.

Moving on to news from the software sector...

TCS Shares Tank 6% Despite 29% YoY Rise in Net Profit

Shares of Tata Consultancy Services fell over 6% on the exchanges in early trade today after the company reported a 16.8% year on year (YoY) growth in revenue for the September 2021 quarter, which was slightly below analysts' expectations.

Overall, the country's largest IT services company by market capitalization reported a 29% YoY growth in net profit.

The company's board also approved a dividend of Rs 7 per for the shareholders of the company.

Commenting on the results, Chief Executive Officer and Managing Director Rajesh Gopinathan said,

• The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers.

The quarter saw strong demand for growth and transformation services as customers took a longer-term view of their businesses, driven by improving vaccination levels and business outlook.

TCS said that it added five new clients in the US$ 100 m bracket and 17 new clients in the US$ 50 m category reflecting the strong demand environment.

We will keep you posted on more updates from this space. Stay tuned.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

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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