Sensex Recovers from Day's Low, Trades 250 Points Lower, Nifty Below 17,700; TCS & Infosys Top Losers

Thu, 1 Sep 10:30 am

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Asian share markets opened lower today with fears growing among investors that there will be no respite from Federal Reserve rate hikes aimed at tamping down inflation.

The Nikkei fell by 1.7% while the Hang Seng was down by 1.3%. The Shanghai Composite is trading higher by 0.2%.

US stocks ended the month with their fourth straight daily decline on Wednesday, cementing the weakest August performance in seven years as worries about aggressive interest rate hikes from the Federal Reserve persist.

The Dow Jones fell by 0.9% while the tech heavy Nasdaq ended lower by 0.5%.

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

Benchmark indices opened deep in the red today following the trend on SGX Nifty. But as the session progressed, some of the losses were erased.

At present, the BSE Sensex is trading lower by 326 points. Meanwhile, the NSE Nifty is trading down by 99 points.

Bajaj Finserv and Asian Paints are among the top gainers today.

TCS and Infosys are among the top losers today.

IT stocks are falling as the Nasdaq index fell overnight.

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

Sectoral indices are trading on mixed, with stocks in the telecom and realty sector witnessing some buying.

While stocks in the IT and energy sectors witness most of the selling.

Lakshmi Machine and Maruti Suzuki hit their 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 5 consistent dividend paying midcap stocks to add to your watchlist.

In the commodity markets, gold and silver prices fell today.

Gold prices are trading lower by Rs 294. Currently, gold prices are trading at Rs 50,120 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 51,600 per kg, down by around Rs 700 today. Silver price too have fallen a lot in recent days.

The rupee is trading at 79.5 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, we often hear people talking about what is the right time to sell in the market and what is the right time to buy.

But rarely do people talk about what to hold. Because it is in holding the stocks where the real money lies, for example take a look at the chart below:

Now, an investor would have made gains if he invested in Titan at beginning of June 2017 or even in late 2020.

But for an investor that would have waited held the shares from beginning of June 2017 till now would have made a whopping 392%.

Hence it seems like long term investing is the smartest way to invest in the stock market.

Since long term stocks interest you, check out our editorial on the 10 best long term stocks in India.

In news from the consumer durables sector, Havells India to increase production capacity.

Electrical goods and appliance maker Havells on Wednesday said it is planning to expand washing machine production capacity at its Rajasthan's Ghiloth plant, where it will invest Rs 1300 m.

This expansion would be financed through internal accruals.

The Ghiloth plant already has the capacity to roll out 3 lakh units per annum and the company plans to add an additional capacity of 3.8 lakh units per annum.

The proposed capacity addition would be done by 30 June 2023.

Established in 2018, Havells Ghiloth is spread over 202,343 square metres and primarily manufactures air conditioners under the brand Lloyd.

Havells is now beginning to set up a cable manufacturing unit at Tumakuru in Karnataka for a proposed annual capacity of 3,48,000 kilometre with an estimated investment of Rs 3 bn.

Recently, we wrote an editorial on why you should not buy consumer durable stocks even after a 30% fall.

Moving on to news from the power sector, NTPC to raise funds.

NTPC has got shareholders' approval to raise up to Rs 120 bn through issuance of non-convertible debentures on private placement basis.

The funds to be raised in one or more tranches (not exceeding 12) will be used for capital expenditure, working capital and general corporate purposes, as per the notice for the AGM.

As the company is in capacity expansion mode, major portion of the capital expenditure requirement has to be funded by debt.

NTPC is one of the 5 Indian companies that are leading the green hydrogen revolution.

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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