Sensex Today Rallies 700 Points | Nifty Above 17,500 | M&M, Adani Ports and SBI Up 3%

Tue, 18 Oct 10:30 am

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Asian share markets nudged higher today as the dramatic U-turn in British fiscal policy brightened investor sentiment, while the US dollar took a breather at its lowest levels in more than a week.

The Nikkei rose by 0.6% while the Hang Seng was up 1%. The Shanghai Composite is trading higher by 0.2%.

US stocks kicked off the trading week on Monday with a rally after Britain reversed course on an economic plan, while Bank of America was the latest financial company to post solid quarterly results, which lifted optimism about the corporate earnings season.

The Dow Jones rallied 1.9% and the tech heavy Nasdaq Composite ended higher by 3.4%.

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

Benchmark indices opened on a positive note today following the trend on SGX Nifty. And as the session progressed, gains were extended.

At present, the BSE Sensex is trading higher by 666 points. Meanwhile, the NSE Nifty is trading up by 200 points.

UltraTech Cement and Bharti Airtel are among the top gainers today.

Meanwhile HDFC twins are among the top losers today.

Broader markets are trading on a positive note. Both the BSE Mid Cap index and the BSE Small Cap index is trading higher by 0.6%.

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 positive note. Stocks in the FMCG sector, auto sector and IT sector witness buying.

Since you're interested in FMCG stocks, you might be interested in the top 5 FMCG stocks by growth.

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

In the commodity markets, gold prices trade higher by Rs 330 at Rs 50,590 per 10 grams.

Meanwhile, silver prices are trading higher at Rs 56,279 per 1 kg.

The rupee is trading at 82.0 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, the semiconductor industry has taken off with a bang lately.

Semiconductors are tiny circuits, known as chips, that power all our electronic devices and tech enabled instruments. They are components needed for manufacturing cars, televisions, refrigerators, washing machines, personal computers, laptops, mobiles, etc.

No wonder semiconductors play an important role in a variety of fields.

In her latest video, Tanushree Banerjee, Co-head of research at Equitymaster, talks about how semiconductors can help find the next Infosys-like multibagger stock.

Ashish Kacholia buys stake in this small cap stock

Ashish Kacholia is known for identifying the best multibagger stocks.

Over the years, he has picked the best multibagger stocks by looking at the fastest-growing companies from the midcap and small-cap space.

Recently, Ashish Kacholia's name appeared in the list of key stakeholders of Shankara Building Products.

However, in the quarter that ended in June 2022, his name did not appear in the list of shareholders who own more than 1% of the share capital.

Ashish Kacholia must have bought the stock between July 2022 to September 2022. It cannot be ascertained whether he picked up the share gradually or in a single trade.

On a YTD basis, Shankara Building share price has seen a sharp rise of 38%.

Over the past one year, the stock has gained over 23%.

To know more about why Ashish Kacholia bought into the counter, read our article on why did Ashish Kacholia buy stake in this small-cap stock?

ACC declares Q2 results

In news from the cement sector, ACC cement posted its Q2 results.

Cement maker ACC on Monday reported a surprise loss for the September-quarter, hurt by higher fuel and power expenses.

The company's standalone loss was Rs 910.9 m for the quarter ended 30 September 2022. compared with a profit of Rs 4,490 m a year ago.

Owing to negative results the share price has been falling on the bourses.

Tata Coffee posted its Q2 results

Further in news from the FMCG sector, Tata Coffee posted its Q2 results.

On 17 October 2022, Tata Coffee reported a 317.6% surge in its consolidated net profit at Rs 1,420 m for the quarter ended 30 September 2022. The company's profit stood at Rs 340 m in the year-ago period.

Sequentially, Tata Coffee's profit increased 215% in Q2 of the financial year 2022-23 compared to Q1 for the same year.

Revenue from operations witnessed a growth of 30.7% to Rs 7,180 m during the quarter under review, compared to Rs 5,490 m in the same period of the previous fiscal.

The improved price realisations, as well as higher sales quantities of plantation products and superior product mix in the instant coffee business, has aided the company's quarterly performance.

However, Tata Coffee's earnings before interest, taxes, depreciation, and amortisation (EBITDA) were down 19.7% at Rs 821 m against Rs 1,023 m in the same quarter of the last financial year. Its EBITDA margin came in at 11.4% versus 18.6% on a year-on-year basis.

Tata Coffee's consolidated total income for the quarter also increased to 30.5% to Rs 7,230 m compared to Rs 5,540 m for the corresponding quarter of the previous fiscal, driven by higher realisations in all businesses of the company.

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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