Sensex Today Ends 114 Points Higher | Nifty Ends Above 18,100 | Adani Enterprises Jumps 7%

Fri, 4 Nov Closing

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After starting the session marginally higher, Indian share market traded relatively flat throughout the day but witnessed buying interest during closing hours.

Investors remained concerned about the central bankers' hawkish stance but found some hope with the news that China might be easing its Covid restrictions.

Among sectoral indices, metal index gained more than 4% and had an impressive day. While pharma, IT and FMCG stocks dragged in today's session.

At the closing bell, the BSE Sensex stood higher by 114 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 64 points (up 0.4%).

Adani Enterprises, Hindalco, and Bajaj Finserv were among the top gainers today.

Hero MotoCorp, Cipla, and BPCL on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,242, up by 182 points, at the time writing.

Broader markets ended on a positive note. The BSE Midcap ended the day on a flat note and the BSE SmallCap index ended 0.4% higher.

Sectoral indices ended on a mixed note with stocks in the metal sector, energy sector, and oil & gas sector witnessing most of the buying.

On the other hand, stocks from the healthcare sector, IT sector, and FMCG sector witnessed selling pressure.

Shares of Karnataka Bank, Raymond, and SBI hit their 52-week high today.

If stocks trading close to their all-time highs interest you, check out how to invest in multibagger stocks to get started.

Bucking the recent trend, Tata Elxsi gained 0.7% today. Of late, Tata Elxsi share price was falling.

Outside the home ground, Asian share markets ended on a mixed note.

At the close in Tokyo, the Nikkei ended dived lower by 1.7%, while the Hang Seng ended inched higher by 5.4%. The Shanghai Composite ended 2.4% higher.

US stock futures are trading on a positive note with Dow futures trading higher by 0.5%.

The rupee is trading at 82.4 against the US$. The rupee is once again falling, and showing signs of weakness like it did in the month of September.

If you're wondering how to profit from a falling rupee, check out our editorial on how a weaker rupee benefits you.

Gold prices for the latest contract on MCX are trading higher by 0.4% at Rs 50,396 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.9% at Rs 58,880 per kg.

Speaking of stock markets, auto stocks have had a good rally over the last two years. However, the ride has not been smooth, and not every auto stock has delivered.

Maruti and Eicher have been the star players for a long time. But the technical charts are showing signs of new winners and losers in the auto space.

In the below video, Chartist Brijesh Bhatia discusses the next Maruti and Eicher Motors.

Bharat Electronics Signs Multiple MOUs in the Tech Sector

Navratna Defense PSU Bharat Electronics has inked an MoU with Motorola Solutions India Pvt Ltd to collaborate on broadband and push-to-talk services.

With the help of the collaboration, businesses will be able to meet the demands of professional mobile radio sector users to connect their teams more quickly and effectively using Motorola Wave PTX.

WAVE PTX is a network-independent multimedia communication solution that instantaneously and without boundaries links cross-functional teams.

In addition, Bharat Electronics signed an MoU with Singapore's INERY for cooperation in the blockchain technology sector.

Additionally, it has a Memorandum of Understanding (MoU) with Bosch Global Software Technologies for the implementation of projects in e-Governance together.

Bharat Electronics is a fundamentally strong company with good return ratios, zero-debt and strong debt coverage metrics.

It is also among the top defense stocks in India with big growth stories.

Speaking of the defense sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasized the need of self-reliance in security space.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD), has set a target of doubling the defense production to US$ 25 bn by 2025. To boost this the Indian government is likely to spend a massive US$130 bn over the next 7-8 years on the modernization of the armed forces.

The increase in budgetary allocation, along with other factors, will ensure that India's top defense stocks remain in the limelight for the foreseeable future.

That is why we believe that the defence sector could produce the next set of multibagger stocks over the long run.

Kalpataru Power Transmission Bags Order Across Business Verticals

Moving on to the news from the engineering sector, share price of Kalpataru Power jumped 1.3% today.

The business, along with its overseas subsidiaries, obtained new orders of Rs 12.9 bn.

These contracts include an order for transmission and distribution services in an international market, an order for oil and gas pipeline construction in India, and an order for railroad construction in India.

The order book has been made stronger by these new orders in the oil and gas and railroad industries.

So far, in the financial year 2023, the company has received around Rs 68.9 bn in total orders, a considerable increase over the same period in the financial year 2022.

It also has a solid L1 position and excellent business visibility across all businesses. This has helped the company to continue to develop at the rate set by the company.

The company is currently executing projects in over 30 countries.

Gillette India Q2 Results

Moving on to the news from the FMCG sector, Gillette India was among the top buzzing stocks today.

Gillette India today reported a 5.9% YoY rise in net profit to Rs 867.8 m. it reported a net profit of Rs 819.3 m a year earlier.

The rise in the net profit was due to strong demand for its grooming products ahead of the festive season.

The revenue from the operations of the company rose 8.2% YoY to Rs 6.2 bn.

Revenue from its grooming segment rose 15.8% to Rs 4.9 bn, while that from its oral care products unit fell 13.5% to Rs 1.3 bn.

However, the cost of raw materials consumed jumped 41.1% YoY to Rs 1.8 bn during the period under review.

Gillette India makes and sells branded packaged fast-moving consumer goods in the grooming, portable power, and oral care industries.

Gillette India is among the 7 Indian Companies that swear by Buffett's no-split rule.

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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