SGX Nifty Down 148 Points | Gold & Silver Demand Jumps Ahead of Dhanteras | Top Buzzing Stocks Today

Thu, 20 Oct Pre-Open

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On Wednesday, Indian share markets trimmed gains as the session progressed and ended marginally higher.

Benchmark indices ended on a positive note for the fourth straight session led by a fall in crude oil prices and an overnight rally on Wall Street.

At the closing bell on Wednesday, the BSE Sensex stood higher by 147 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 25 points (up 0.1%).

HDFC, Nestle, and ITC were among the top gainers.

NTPC, JSW Steel, and SBI, on the other hand, were among the top losers.

The BSE MidCap index ended higher by 0.1% while the BSE SmallCap index ended on a flat note.

If midcap stocks interest you, check out 5 midcap stocks with high mutual fund holding.

Sectoral indices ended on a mixed note with stocks in the realty sector, FMCG sector, and banking sector witnessing most of the buying.

On the other hand, stocks from the power sector, metal sector, and IT sector witnessed selling pressure.

Among the best banking stocks, HDFC Bank and Axis Bank gained more than 1% yesterday.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 50,414 per 10 grams, at the time of Indian market closing hours yesterday.

At 7:30 AM today, the SGX Nifty was trading down by 148 points or 0.9% lower at 17,350 levels.

Indian share markets are headed for a gap-down opening today following the trend on SGX Nifty.

Speaking of stock markets, Richa Agarwal talks about three market leader smallcap stocks and why she is excited about these companies, in her latest video.

For long term smallcap stocks, investors should keep these stocks on their watchlist.

Top Buzzing Stocks Today

Aarti Industries will be among the top buzzing stocks today.

Aarti Industries has fixed Thursday, 20 October 2022, as record date to determine the members of 'Aarti Industries' to whom equity shares of 'Aarti Pharmalab' will be allotted.

Shareholders will get one share of Aarti Pharmalabs for every four shares they hold in Aarti Industries.

This shares will be given as part of the demerger that Aarti Industries announced last year.

Mishra Dhatu Nigam (Midhani) share price will also be in focus today.

Boeing India on Tuesday announced it would assess and collaborate with Midhani to develop raw materials for standard aerospace parts and components in India.

Market participants will also track the shares of Piramal Pharma.

In October 2021, the board of directors of Piramal Enterprises (PEL) had approved the demerger of the pharmaceuticals business, and simplification of the corporate structure.

On Wednesday the shares of pharmaceutical business were listed as Piramal Pharma.

The equity shares of Piramal Pharma have been listed and admitted to dealings on the exchange in the list of 'T' group of securities. In the T2T segment, each trade has to result in delivery, and no intra-day netting of positions is allowed.

Market participants will be keen to see how the stock performs post listing day.

Nestle India declares Q2 results & second interim dividend

While announcing its third quarter earnings, Nestle India said that its board has also recommended a second interim dividend of Rs 120 per share and also fixed the record date for the same.

The company further added that the second interim dividend for the year 2022 will be paid on and from 16 November 2022 to those Members whose names appear in the Register of Members of the Company and as beneficial owners in the Depositories, as on the Record Date fixed for the purpose i.e., 1 November 2022.

Nestle India reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas.

The Maggi noodles maker's profit rose 8.3% to Rs 6,680 m in the quarter ended 30 September 2022 as compared to Rs 6,170 m year-on-year (YoY).

Meanwhile, its revenue from operations climbed 18.3% to Rs 45,910 m as sales of its chocolates, Maggi noodles as well as Sunrise and Nescafe brands of coffee rose, helped by robust advertising spend, from Rs 38,820 m a year ago.

Renaissance Global enters in an agreement with Netflix

Renaissance Global has inked a strategic licensing agreement with Netflix.

In accordance with the terms of the agreement, Renaissance and Netflix will collaborate to develop an exciting line of branded jewellery that will capitalise on the popularity of some of Netflix's most renowned shows. This unique collection will be marketed to consumers in the US and Canada.

The pact with Netflix further aligns with Renaissance's ambition to accelerate growth of its branded jewellery business and is in line with the management's vision to create a high performing portfolio of globally loved licenced brands.

The agreement will boost the company's range of licenced brands that already comprises Enchanted Disney Fine Jewellery, Hallmark, NFL, Star Wars and Disney Treasures.

Demand For Precious Metals Jumps

According to a report, demand for precious metals jumped by 40% year-on-year (YoY) ahead of the Dhanteras with gold contributing to 70% of the overall demand during this festive season.

Last year during Dhanteras, demand for gold was 3X of silver and this year it has jumped to 4X. The rise in demand is expected to spread the cheer for retailers across the country ahead of Diwali.

Rupee Hits New Low

The Indian rupee on Wednesday slipped past the 83 per US dollar mark for the first time as surging US Treasury yields prompted a broad rally in the greenback.

The rupee closed at a record low of 83.02 against the greenback, down 66 paise or 0.8% from last close of 82.36.

The government bond yields resultantly ended higher, reversing intraday moves, as US yields rose and a stronger dollar pushed the rupee to a record low.

Should you be concerned about a falling rupee? How does the fall in the rupee affect you? And most importantly, is there a way you can profit from it?

We answered all these queries in out recent editorial. You can check it out here: 5 Ways a Weaker Indian Rupee Benefits You...and Hurts You.

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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