Sensex Today Erases Gains to Trade on a Volatile Note | SBI Jumps 6% | Britannia Zooms 10%, Crosses Rs 1 Trillion in Market Cap

Mon, 7 Nov 10:30 am

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Asian share markets are higher today as global market sentiment improved on solid US jobs data and hopes for an economic reopening in China.

The Nikkei rose by 1.3% while the Hang Seng was up by 3.4%. The Shanghai Composite is trading higher by 0.5%.

US stocks advanced in volatile trade on Friday as investors digested a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes and the odds of a recession.

The Dow Jones ended higher by 1.2% while the tech heavy Nasdaq Composite ended higher by 1.3%.

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

Benchmark indices opened on a firm note today following the trend on SGX Nifty. However, as the session progressed, indices erased all gains and slipped into the red.

At present, the BSE Sensex is trading lower by 19 points. Meanwhile, the NSE Nifty is trading up by 21 points.

Bajaj Finserv and Tata Steel are among the top gainers today. Dr Reddy's Labs and Asian Paints are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.4% and the BSE Small Cap index is trading higher by 0.5%.

Smallcaps is where growth is so check out the five smallcap growth stocks highlighted in this editorial.

Sectoral indices are trading on a mixed note. Stocks in the IT sector, healthcare sector, and telecom sector are witnessing selling.

Meanwhile, stocks in the metal sector, power sector, and utilities sector are witnessing buying. Among the best metal stocks, JSW Steel and SAIL are trading 5% higher.

Shares of Solar Industries and Britannia hit their 52-week high today.

Meanwhile, Tata Motors DVR share price, which was falling, reversed trend and rose over 1% today.

In the commodity markets, gold prices trade higher by Rs 75 at Rs 50,941 per 10 grams.

Meanwhile, silver prices are trading lower at Rs 60,340 per 1 kg.

The rupee is trading at 82.1 against the US dollar. 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.

Speaking of stock markets, it's not for no reason that Vijay Kedia has a cult like following in the Indian stock markets. He has had a string of massive successes, right from 1991...and as a result has scripted the classic rags to riches story in the stock market.

Vijay buys cheap stocks and he tries to buy them at the right time...the reason for his success is something else.

In the latest investor house episode, Vijay and Rahul Goel talk about Vijay's journey...successes and failures stock picking. And of course they spend considerable time talking about portfolios and position sizing.

Bloodbath for Voltas share price

Share markets are tricky and very unpredictable. Just like no one expected that a Tata group company with a leading position in its business would undergo a massive fall.

I'm talking about none other than the famous AC and refrigerator maker - Voltas.

Many Tata group shares are known to produce multibagger returns. It's a perception among investors that Tata shares will continue to rally.

However, Voltas share price has seen a sharp fall in its share price recently. In the year gone by, it has fallen 29%.

To know why Voltas share price is falling read our article on why Voltas share price is falling.

Tata Motors to increase prices

Auto giant Tata Motors had announced that it will marginally hike the prices across its passenger vehicles from 7 November. The weighted average increase will be 0.9%, depending on the variant and model.

This is not the first price hike made by the company in this year. In July, the auto major had announced a marginal price hike of 0.6% for its PV range. A few changes were made in January and April 2022.

The auto major explained that it has been bearing a great portion of the increased costs, but due to rising overall input costs, it has to pass some of the prices to the consumers through this minimal price hike.

The auto major has a number of famous passenger vehicles, such as Tiago, Punch, Nexon, Harrier, and Safari. The latest price hike will be applicable to all Tata cars.

Earlier this week, Tata Motors sales' in domestic and international market for October 2022 stood at 78,335 units compared to 67,829 units in October 2021, recording a growth of 15.5%, mostly due to the festive rush.

This price hike will be a good news for investors, because Tata Motors share price was falling recently.

Why Britannia Share Price is Rising

Moving on to news from the FMCG space, one of the best FMCG stocks in India - Britannia rose 10% today.

Shares of Britannia Industries hit an all-time high today after the company reported a robust revenue growth, with its market share reaching new 15-year high in the September quarter.

The company's m-cap crossed Rs 1 trillion in intra-day trade today.

In the quarter under review, Britannia's consolidated sales grew 22% year-on-year (YoY) and 19% quarter-on-quarter (QoQ) at Rs 43.4 bn. This was aided by a mid-single digit volume growth.

The profit from operations jumped 30% YoY at Rs 6.6 bn.

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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