Sensex Falls Over 500 Points, Nifty Below 17,600; Kotak Mahindra Bank and Bajaj Finserv Top Losers

Mon, 22 Aug 10:30 am

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Major Asian share markets opened lower today on renewed fears of interest rate hikes following hawkish comments from US Federal Reserve officials and economic concerns.

The Nikkei fell by 0.6% while the Hang Seng was down by 1%. The Shanghai Composite is trading lower by 0.1%.

US stocks dropped on Friday, snapping four straight weeks of gains, in a broad selloff led by mega-caps as US bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains.

The titans of tech took a dive and feared the Federal Reserve may tighten monetary policy.

The Dow Jones was down by 0.9% while the tech heavy Nasdaq was down by 2%.

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

Benchmark indices opened in red today following the trend on SGX Nifty. And as the session progressed, losses were extended.

At present, the BSE Sensex is trading lower by 534 points. Meanwhile, the NSE Nifty is trading down by 180 points.

ITC and HUL are among the top gainers today.

Kotak Mahindra Bank and Bajaj Finserv are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is down by 1.2% while the BSE Small Cap index is trading lower by 1%.

Sectoral indices are trading on a negative note. The stocks in the auto and basic material sector witness most of the selling.

Keep an eye out on these 4 sectors that can produce future multibagger stocks.

Adani Power hit its 52-week high today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also check out our editorial on the most profitable mid cap stocks and the most profitable bluechip stocks in India.

In the commodity markets, gold prices fall. Gold prices are trading lower by Rs 129. Currently, gold prices are trading at Rs 51,350 per 10 grams.

Note that gold prices have fallen and have taken quite a knock in recent weeks.

Meanwhile, silver prices are trading lower at Rs 55,141 per kg. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.8 against the US dollar.

After getting a bird's eye view of the market, do you want to get a full analysis on how the markets will perform today? You know how the market started but do you want to know how the markets will close today?

In the below video, Brijesh Bhatia does a complete analysis of today's market.

Speaking of stock markets, since December 2021, the Indian stock market has been seeing a massive downfall. A huge sell off by FIIs, fear of global recession, geopolitical tensions etc. were responsible for the drop.

Interest rate hikes by RBI was another sign that scared people. With the term recession being coined around every corner, layman feared a slowed economy.

However, interestingly, the consensus opinion of all the economists surveyed by Bloomberg last month is this:

• 'India has ZERO probability of slipping into a recession'

The chart below shows recession probability forecasts of various countries.

Hence, India is nowhere near recession.

Now with recession out of the way, it is important to have an idea about which sectors to watch out for while investing in stock market.

Aditya Vora - Research Analyst at Equitymaster, wrote about three such sectors in his latest editorial: These 3 Sectors Will Boom Over the Next 3 Years.

In news from the power sector, Adani Power is set to acquire thermal assets.

Gautam Adani-led Adani Power has agreed to buy the thermal power assets of DB Power (DBPL) for nearly Rs 70.2 bn enterprise valuation.

Both sides signed an agreement for the all-cash deal on Friday afternoon last week. The initial term of the MOU shall be till completion of the acquisition on 31 October 2022, which may be extended by mutual agreement.

DB Power has 2 units of 600 MW each of thermal power in Janjgir-Champa district, Chattisgarh.

The proposed transaction is subject to receipt of approval from the Competition Commission of India and any other approvals as may be identified following the due diligence exercise to be conducted with respect to DPPL and DB Power.

Adani Power will hold 100% of the total issued, subscribed, and paid-up equity share capital and preference share capital of DPPL. While DPPL will hold 100% of DB Power on the closing date of the transaction.

Diligent Power (DPPL) is the holding company of DB Power.

Currently, DB Power has long and medium-term Power Purchase Agreements for 923.5 MW of its capacity, backed by Fuel Supply Agreements with Coal India, and has been operating its facilities profitably.

The turnover of DB Power during last three financial years was Rs 34.9 bn (for financial year 2021-22); Rs 29.3 bn (for financial year 2020-21) and Rs 31.3 bn (for financial year 2019-20).

Adani Power is one of the 5 multibagger small-cap stocks with high promoter holding.

Further in news from the insurance sector, Life Insurance Corporation of India (LIC) witness a fall in death claims.

India's top insurance company LIC witnessed a decline of nearly 20% in death claims in the Q1 of financial year 2022-23 with the Covid-19 impact seen to be ebbing. However, the amount is still higher than pre-2020 levels.

In the June quarter of financial year 2021-22, the settlement of death claims was to the tune of Rs 71.1 bn, which for Q1 of this year was Rs 57.4 bn.

To know more, check out LIC's financial factsheet and its latest quarterly results.

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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