Sensex Today Trades Marginally Higher | Nifty Above 17,200 | Banking Stocks Rally Post Good Q2 Results from HDFC Bank

Mon, 17 Oct 10:30 am

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Asian share markets slipped today as investors braced for a drastic tightening in global financial conditions, with the risks of recession still looming.

The Nikkei fell by 1.4% while the Hang Seng was down 1.1%. The Shanghai Composite is trading lower by 0.1%.

US stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve's aggressive rate hike path could trigger a recession, while investors digested the early stages of earnings season.

The Dow Jones dropped 1.3% and the tech heavy Nasdaq Composite ended lower by 3.1%.

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

Benchmark indices opened on a negative note today following the trend on SGX Nifty. But as the session progressed, losses were erased as banking stocks.

At present, the BSE Sensex is trading higher by 163 points. Meanwhile, the NSE Nifty is trading up by 47 points.

SBI and ICICI Bank are among the top gainers today. M&M and L&T are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is trading lower by 0.3% and the BSE Small Cap index is trading down by 0.2%.

If you are looking for smallcaps, start your search with the fundamentally strong smallcap stocks that offer cushion in this volatile period.

You can also check out the smallcaps undergoing dramatic change.

Sectoral indices are trading on a mixed note. Stocks in the energy sector, oil and gas sector and metal sector witness selling.

On the other hand, stocks in the banking sector and finance sector witness buying.

Among the best bank stocks in India, ICICI Bank and SBI are up more than 1%. Banking stocks rallied today after HDFC Bank set the stage last week by reporting good quarterly results.

Shares of Sun Pharma and Federal Bank hit their 52-week high today.

In the commodity markets, gold prices trade higher by Rs 159 at Rs 50,419 per 10 grams.

Meanwhile, silver prices are trading higher at Rs 55,625 per 1 kg.

The rupee is trading at 82.4 against the US dollar. Last week, the rupee touched its record low. If you're wondering how to profit from a falling rupee, check out our editorial on how a weaker rupee benefits you.

Speaking of stock markets, in the latest episode of investor hour podcast, Manish Sabharwal talks about what makes the Indian economy tick, and what could make it tick a whole lot faster.

Manish believes that China's pivot has brought forward global interest in India...and the fact there is no scalable alternative, makes the India story even more enticing.

Also speaking of stock markets, note that increasing capital expenditure is a sign of growth.

Understanding how capex works and the benefits it can create for a company is critical for investors who want to build long-term wealth.

After this year's Budget showed a clear thrust on reviving India's capex, aggressive capex plans have become the new normal for many Indian companies.

If history is something to go by, India witnessed one of its strongest capex cycles in 2003-2007. And this is how the market rallied.

Those who capitalised on this opportunity made some of the biggest gains in a decade. With capex cycle picking up again, here are five smallcap companies with aggressive capex plans.

Owing to increasing capex, smallcap companies could be strong contenders of turning into midcaps in the long run.

In news from the consumer discretionary space, BLS International share price jumps after ace investor buys stake in the company.

BLS International is one of the top three worldwide leaders in its industry, and offers visa consultancy services for individuals, students, families, and many other categories.

Renowned investor Shankar Sharma bought a stake in BLS International Services on Friday last week. He bought 11.5 lakh shares of the company in a bulk transaction at an average price of Rs 275.0 per share.

Did you know that BLS international is one of the 5 multibagger stocks with high promoter holding?

Further in news from the realty sector, Dilip Buildcon receives a letter of approval from the Gujarat Metro Rail Corporation.

Dilip Buildcon on 15 October received a letter of acceptance from the Gujarat Metro Rail Corporation (GMRC) for a Rs 7020.2 m Surat Metro Rail Project Phase 1.

The project includes the construction of an 8.702-km elevated metro line with seven stations from Majura Gate to Saroli Dead End under Corridor 2 and has to be completed in 26 months.

With the world slowly moving out of the after effects of Covid-19, the real estate cycle is strong. Keep the fundamentally strong companies in your watchlist.

Further in news from the logistics sector, Lancer Container Lines enters in a new MoU.

Lancer Container Lines has entered into a Memorandum of Understanding (MOU) with African Peace and Security Union in the spirit of Peace, Friendship and Mutual Cooperation.

This agreement will help the Lancer Container Lines and its subsidiaries to establish strong business presence in Africa hinterland covering interest areas of Port Logistics, ICD Port, warehousing, Shipping, Container Trading, Project Cargo, Container Yard, freight Forwarding and all related requirements.

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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