Sensex, Nifty Trade Flat; Britannia & HDFC Twins Among Top Losers

Tue, 9 Nov 10:30 am

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Asian share markets followed Wall Street higher in early trade today as the passage of a US infrastructure bill boosted sentiment.

However, markets erased gains and are presently trading marginally lower.

The Hang Seng is down 0.2% while the Shanghai Composite fell 0.1%. The Nikkei is trading lower by 0.6%.

In US stock markets, Wall Street indices ended slightly higher on Monday, gaining early in the day as investors cheered passage of a US infrastructure spending bill.

Gains were erased later as sliding Tesla shares weighed the indices down.

The Dow Jones ended up by 0.3% while the Nasdaq Composite settled 0.1% higher.

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

Market participants will track shares of Power Grid, M&M, Petronet LNG, MRF, and IDFC as these companies will announce their September quarter results today.

The BSE Sensex is trading down by 84 points. Meanwhile, the NSE Nifty is trading lower by 14 points.

M&M and Bajaj Auto are among the top gainers today. HDFC Bank, on the other hand, is among the top losers today.

Both, the BSE Mid Cap index and the BSE Small Cap index are trading higher by 0.7%.

Sectoral indices are trading mixed with stocks in the automobile sector and power sector witnessing buying interest.

FMCG stocks, on the other hand, are trading in red.

Shares of Lakshmi Machine and ACC hit their 52-week highs today.

The rupee is trading at 73.91 against the US$.

In crypto markets, Bitcoin and Ethereum made record peaks as enthusiasm for cryptocurrency adoption and fears about inflation lent support to the asset class.

Bitcoin rose to as high as US$67,803 and Ether, the second-biggest cryptocurrency, hit US$4,825.

Crude oil prices gained on the outlook for energy demand in an expansive global economy.

Gold prices are trading down by 0.1% at Rs 48,021 per 10 grams.

Meanwhile, silver prices are trading down by 0.2% at Rs 64,777 per kg.

Gold is steady today, consolidating near a two-month high scaled in the previous session, as a weak dollar offset firm US bond yields.

Yesterday, the precious metal rose to the highest level since early September as the dollar softened and major central banks signaled inflation would likely fade and immediate interest rate hikes were not required.

Speaking of gold, India's #1 trader Vijay Bhambwani discusses whether you should invest in gold and silver this Diwali, in his latest video for Fast Profits Daily.

In the video, Vijay also shares the price targets for bullion for next Diwali.

In news from the pharma sector, Cadila Healthcare is among the top buzzing stocks today.

In a regulatory filing on Monday, Cadila Healthcare said that the Government of India has placed an order with the company for 10 lakh doses of its Covid-19 vaccine 'ZyCoV-D' at Rs 265 per dose.

Meanwhile, the needle-free applicator will be offered at Rs 93 per dose, exclusive of GST.

Zydus Cadila's ZyCoV-D, the world's first plasmid DNA vaccine is a 3-dose shot that was approved by the Drugs Controller General of India on 20 August 2021 for emergency use in adults and children aged 12 years and above.

It also happens to be the first Covid-19 vaccine that can be administered using a needle-free applicator as opposed to traditional syringes.

ZyCoV-D is yet to be used in India's vaccination drive.

The company's Managing Director Sharvil Patel said,

• We are happy to support the Government's vaccination programme with ZyCoV-D.
  
  The needle-free application of the vaccination, we hope, will motivate many more to vaccinate and safeguard themselves from COVID-19, especially children and young adults in the age group of 12 to 18 years.

The three doses of ZyCoV-D are to be administered 28 days apart, with each dose comprising a shot in both arms.

Interim results from Phase-III clinical trials, in over 28,000 volunteers, showed primary efficacy of 66.6% for symptomatic RT-PCR positive cases.

At present, Cadila Healthcare shares are trading up by 0.3%.

Moving on to news from the power sector, Tata Power shares will be in focus today.

As per a leading financial daily, Tata Power and SRF are likely to get added to MSCI Standard Index during the semi-annual review slated on 12 November.

The adjustment will take place on 30 November 2021.

Reportedly, Tata Power will see passive inflows of US$240 m and SRF could see buying worth US$230 m.

Mphasis, Godrej Properties, Mindtree, IRCTC and Zomato are other stocks that are likely to get added in MSCI Index.

Meanwhile, IPCA Labs and state-owned REC are likely to get excluded from the index, which could lead to selling of over US$100 m.

Shares of Tata Power opened the day higher by 1% today. At present, they are trading up by 4.3%.

Speaking of Tata Power, have a look at the chart below to see how the company's shares have performed over the past one year.

As can be seen, shares of Tata Power have been on fire this year, rising as much as 330% in the past one year.

To know more, check out Tata Power's 2020-21 annual report analysis.

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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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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