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Sensex Today Trades Lower | Campus Activewear Tanks 6% | M&M, Titan Top Losers
Fri, 10 Nov 10:30 am

Sensex Today Trades Lower | Campus Activewear Tanks 6% | M&M, Titan Top Losers

Asian share markets markets opened lower on Friday as US stocks sank overnight after Fed chief Jerome Powell warned the US interest rates may need to rise further to win the war on inflation.

The Nikkei is trading 1% lower while the Hang Seng index plunged 1.8%. The Shanghai Composite is trading 0.7% lower.

US stocks closed lower on Thursday, snapping the longest winning streaks for the Nasdaq and S&P 500 in two years, as Treasury yields climbed.

Here's a table showing how US stocks performed on Wednesday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet131.69-1.57-1.18%133.96131.51142.3885.57
Apple182.41-0.48-0.26%184.12181.81198.23124.17
Meta320.550.770.24%324.18318.8330.54104.61
Tesla210.5-11.61-5.23%220.8206.68299.29101.81
Netflix435.15-1.5-0.34%440.38434.35485260.09
Amazon140.6-1.48-1.04%142.65139.84145.8681.43
Microsoft360.69-2.51-0.69%364.79360.36366.78219.35
Dow Jones33891.94-220.33-0.65%34167.5433859.7735679.1331429.82
Nasdaq15187.9-125.34-0.82%15382.1115171.3215932.0510671.19
Source: Equitymaster

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

At present, the BSE Sensex is trading lower by 173 points. Meanwhile, the NSE Nifty is trading down by 45 points.

Power Grid Corporation and ONGC are among the top gainers today.

M&M and Titan on the other hand are among the top losers today.

Broader markets are trading mixed. The BSE Mid Cap index is trading 0.3% lower and the BSE Small Cap index is trading higher by 0.2%.

Sectoral indices are trading mixed with stocks in the realty sector and power sector are witnessing buying. Meanwhile, stocks in FMCG sector and auto sector witness selling.

Shares of Trent and Coal India hit their 52-week high today.

The rupee is trading at Rs 83.28 against the US dollar.

In commodity markets, gold prices are trading 0.2% lower at Rs 60,156 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 71,038 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Co-head of Research at Equitymaster Tanushree Banerjee talks about the possibility of Sensex at 50,000 in 2024, in her latest video.

With most of the positives priced in, any negative shocker, especially like the macro variables, could cause a huge dent in the index next year.

Watch the below video for more:

SJVN Net Profit Dips Marginally

State-owned SJVN on Thursday reported a marginal decline in its consolidated net profit to Rs 4.4 billion (bn).

Its consolidated net profit was Rs 4.5 bn in the quarter ended on 30 September 2022.

Total expenses in the quarter rose to Rs 3.9 bn from Rs 3.8 bn in the year-ago period.

Total income also increased to Rs 9.5 bn in the September quarter over Rs 9.2 bn a year ago.

The revenue from operations included Rs 122.1 m and Rs 179.3 m for the quarter and half year ended on 30 September 2023, respectively, from the sale of power through trading.

At the operating level, EBITDA declined 0.9% to Rs 7 bn in the second quarter of this fiscal over Rs 7.1 bn in the corresponding period in the previous fiscal.

The EBITDA margin stood at 80.4% in the reporting quarter against 81.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Other income, amounting to Rs 819.5 m and Rs 1.6 bn for the quarter and half year ended 30 September 2023.

With a sharp vision to diversify into renewable energy, SJVN is stitching a grand solar roadmap. For more details, check out This Company is Transforming into a Huge Solar Energy Giant. Take a Look...

Ashok Leyland Q2 Profit Zooms

Riding on higher sales, Hinduja Group's flagship company Ashok Leyland on Thursday posted over two-fold jump in net profit for the second quarter of the financial year 2023-24 to Rs 5.7 bn, compared to Rs 1.9 bn a year back.

During the quarter under review, the company also saw its revenue up by 19% to Rs 114.3 bn versus Rs 96 bn during the second quarter of the previous financial year. Ashok Leyland board has cleared a plan to invest Rs 12 bn in Switch Mobility, to fund its expansion.

The company said on Thursday that it is not looking for any strategic partner for the EV venture, at the moment.

The commercial vehicle manufacturer had a significant increase in its bus market share during the period, making it the top bus manufacturer in India.

Ashok Leyland's domestic Medium and heavy Commercial Vehicle (MHCV) volume was seen at 29,947 units, up 18% over the second quarter of last year, in line with industry growth.

Light commercial vehicle (LCV) volumes were seen at 16,998 units, compared to 17,040 units in Q2 FY23. Export volumes for the quarter (MHCV and LCV) were at 2,901 units, higher by 4%, despite multiple socio-political challenges across the globe.

While International business globally was challenged owing to the conflicts across the globe, the company was intensifying our expansion strategy in our focus markets of the Middle East, Africa and Asia.

The company continues to build its capabilities in alternative energy and shall be soon coming up with some exciting products and solutions.

Certain indicators show Ashok Leyland can scale new heights in 2024. To know why, check out 5 Indian Midcap Stocks Set to Grow Dramatically in 2024. Add them to Your Watchlist.

The company is also a beneficiary of Modi's Rs 576 Billion e-Bus Scheme.

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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