Sensex Today Drops 150 Points | Nykaa Share Price Gains 4% Post Block Deal | Banking Stocks Among Top Gainers

Fri, 18 Nov 10:30 am

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Asian share markets are in a cautious mood today after US Federal Reserve officials fired more warning shots on interest rates.

Meanwhile, rising coronavirus cases in China and liquidity strains in its bond market added to uncertainty.

The Nikkei is up 0.1% while the Shanghai Composite is down 0.1%. The Hang Seng is trading higher by 0.6%.

Wall Street's main indexes ended modestly lower on Thursday in a choppy session as hawkish comments from a US Federal Reserve official and data showing the labour market remained tight led some investors to worry about more aggressive interest rate hikes.

The Dow Jones traded flat while the tech heavy Nasdaq gained 0.4%.

Here's a table showing how the top US tech stocks ended yesterday.

How US Stocks Performed Overnight

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	98.5	-0.5	-0.49%	99.5	97.1	152.1	83.5
Apple	150.7	1.9	1.30%	151.5	146.2	182.9	129.0
Meta	111.5	-1.8	-1.57%	112.3	109.8	353.8	88.1
Tesla	183.2	-3.8	-2.01%	186.2	180.9	402.7	177.1
Netflix	295.3	-10.7	-3.51%	299.8	291.0	701.0	162.7
Amazon	94.9	-2.3	-2.34%	97.0	94.0	188.1	85.9
Microsoft	241.7	-0.1	-0.02%	243.3	237.6	349.7	213.4
Dow Jones	33,546.3	-7.5	-0.02%	33,616.0	33,239.8	36,952.7	28,660.9
Nasdaq	11,145.0	-38.7	-0.35%	11,198.8	11,006.2	16,212.2	10,088.8

Source: Equitymaster

Back home, Indian share markets are trading on a negative note, following the trend on SGX Nifty.

Benchmark indices opened on a positive note but erased gains as the session progressed.

At present, the BSE Sensex is trading down up by 171 points. Meanwhile, the NSE Nifty is trading down by 59 points.

Kotak Mahindra Bank and SBI are among the top gainers today. Bharti Airtel and Titan, on the other hand, are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is down 0.3% and the BSE Small Cap are trading lower by 0.1%.

Sectoral indices are trading on a negative note with the exception of banking sector and capital goods sector. Stocks in the consumer durables sector, and auto sector witnessing most of the selling.

Shares of SKF India and Timken India hit their 52-week highs today.

The rupee is trading at 81.6 against the US$.

Gold prices are trading up by Rs 85 at Rs 52,928 per 10 grams. Meanwhile, silver prices are trading down by 0.5% at Rs 61,300 per kg.

Speaking of stock markets, as the Indian stock market is trading close to its all-time high, one sector has done very well, which is FMCG!

The best FMCG stocks have been trending bullish for a long time.

But is the situation changing?

In the below video, Chartist Brijesh Bhatia shows what the charts say about a possible end to the bullishness in FMCG stocks and what HUL has to do with it.

Paytm Share Price Bites the Dust

About a year ago, India saw its biggest IPO by a company which has one of the most complex business models.

The hype was real when Paytm came out with its IPO. Despite multiple reports of stats and true value of Paytm which pointed out how the IPO will become a huge point of loss for retail investors, they got carried away.

One year has passed since its listing and the stock continues to reel under pressure. Paytm is down 70% from its peak and 65% since listing.

To know more, read our article on why Paytm share price is falling.

UltraTech Cement Sets Up a New Manufacturing Plant

UltraTech Cement has commenced operation at its third Birla White wall ware putty plant in Rajasthan with a capacity of 4 lakh metric tonnes (LMT) per annum, at a total cost of Rs 1.9 bn (about Rs 187 crore).

The company's existing two plants are situated at Kharia in Rajasthan and Katni in Madhya Pradesh.

The company now has a wall care putty capacity of 13 LMT per annum, further strengthening its position in the markets.

Alongwith its existing white cement manufacturing capacity in India and its investment in Ras Al Khaimah Company for white cement and construction material, UAE, the company is strategically positioned to cater to the white cement and wall care putty market in the country.

UltraTech Cement is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 121.3 metric tonnes per annum.

The cement major's consolidated net profit tumbled 42.5% to Rs 7.6 bn on 15.8% increase in net sales to Rs 135.9 bn in Q2 September 2022 over Q2 September 2021.

Since you are interested in cement stocks you might also be interested in our editorial on how cement stocks are looking on the chart.

UltraTech is also one of the stocks which has aggressive capex plans.

Bharat Electronics Signs MoU

Bharat Electronics has signed a MoU with Armoured Vehicles Nigam (AVNL/AVANI), a Defence PSU, to jointly address the requirements of Indian Defence and Export markets.

The MoU aims at leveraging the complementary strengths and capabilities of BEL and AVNL (AVANI) to address domestic and export opportunities in the areas of Combat Vehicles, main battle tanks (MBTs), infantry fighting vehicles (IFVs), armoured fighting vehicles (AFVs) and related systems.

Blackstone Invests in R Systems

Private Equity player Blackstone continues to bet on the tech industry as it announced plan to acquired majority stake in product engineering firm R Systems for a total amount of Rs 29.1 bn.

Blackstone announced that it is acquiring 52% stake of promoters including the founder Satinder Sigh Rekhi's stake.

Blackstone is buying the promoters stake for Rs 245 per share, a discount of 10.6% to the current closing share price of Rs 271. The company's share price during pre-market hour was Rs 235.8 per share.

The promoters will get around Rs 1,496.95 crore for their 52% stake at Rs 245 price per share. Dr. Rekhi will continue to guide the company in his role as a non-executive advisor, said Blackstone in a statement.

Blackstone has also launched a conditional delisting offer, at a price of Rs 246 per share. The offer is at a discount of 9.2% to the closing price of the company's stock.

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!

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers