After opening on a negative note, the Indian share market witnessed volatile trading activity today and ended flat.

Nervousness persisted amid concerns about the steep hikes in interest rates and the prospect of slowing economic growth.

The gains made by capital goods stocks were offset by the fall in IT stocks and energy stocks.

Also, benchmark indices swung between gains and losses as investors awaited critical US jobs data to get clues on how aggressively the Federal Reserve will raise interest rates.

At the closing bell, the BSE Sensex stood higher by 36 points.

Meanwhile, the NSE Nifty closed lower by 3 points.

HDFC, ITC, and L&T were among the top gainers today.

Reliance, Maruti Suzuki, and IndusInd Bank on the other hand were among the top losers today.

The SGX Nifty was trading at 17,539, down by 30 points, at the time of writing.

The broader markets ended on a mixed note. The BSE Mid Cap index fell 0.4% while the BSE Small Cap index ended higher by 0.1%.

Sectoral indices ended on a mixed note with stocks in the capital goods sector, banking sector, and finance sector witnessing most of the buying.

On the other hand, stocks in the oil and gas, metal, and auto sectors witnessed selling pressure.

Shares of Mahindra Holidays, Pidilite Industries, and SKF India hit their 52-week high today.

Outside the home ground, Asian share markets ended on a mixed note.

At the close in Tokyo, the Nikkei ended on a flat note while the Hang Seng dived 0.7%. The Shanghai Composite ended higher by 0.1%.

The rupee is trading at 79.8 against the US$.

Gold prices are currently trading up by 0.5% at Rs 50,295 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX trade higher by 0.% at Rs 52,930 per kg.

Note that gold prices have fallen and have taken quite a knock in recent weeks. Silver prices too have fallen a lot in recent days.

The question on everyone's mind now is when will gold and silver prices recover.

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

In news from the IT sector, Tanla Platforms was among the top buzzing stocks today.

The share price of Tanla Platforms jumped over 3% today as the company mulled a share buyback plan.

The company's board will meet on 8 September to consider a share buyback proposal.

A share buyback, also known as a share repurchase, is a corporate action to buy back its own outstanding shares from its existing shareholders usually at a premium to the prevailing market price.

Today, in the exchange filing, the company said,

This is to inform you that the Board of Directors of the Company will consider a proposal for buyback of Equity Shares of the Company including matters related/ incidental thereto, at its meeting which is scheduled to be held on Thursday, 08 September 2022.

Tanla is India's largest Communications Platform as a Service (CPaaS) company.

Tanla Platforms initially started as a Bulk SMS provider in Hyderabad catering to SME. As the team grew, the company evolved into a cloud communication provider with services and products with aggregators and telecoms across the globe.

It has a virtual monopoly in the OTP business. On a YTD basis, the Tanla Platform's share price is down by 60%.

The reason why Tanla Platforms is battered down in recent months is that it reported poor financials for the quarter that ended June 2022.

The weak performance left investors disappointed which led to Tanla's share price falling.

With a strong outlook for the CPaaS industry, the long-term view for Tanla seems bright.

Moving on to news from the power sector, NTPC share price was in focus today.

NTPC gains 4% as bids line up for the majority stake sale in the green energy arm.

Shares of NTPC hit a 52-week high after ArcelorMittal, Brookfield and Canada Pension Plan Investment Board emerged among a dozen entities to buy stake in the green energy arm of NTPC.

The expression of interest for a stake sale of 5 to 10% in NGEL was invited in June this year. The thermal power behemoth aims to sell a minority stake, to raise up to Rs 20 bn.

The stake sale of NGEL is part of the asset monetization target of NTPC, which is pegged at Rs 150 bn, for three years.

Along with the listing of NGEL, NTPC is also looking to pare its stake in two companies - NTPC Vidyut Vyapar Nigam, the power trading arm and Northeastern Electric Power Corporation.

In line with the company's vision to reach 60 gigawatts (GW) of renewable capacity by 2032, the capital raise will help NTPC to get growth capital and pursue its capacity expansion plans.

Moreover, the company envisions enhancing its current presence in consultancy services, power trading, and ancillary services. The company has targeted a 25% market share in ancillary services and storage by 2032 under its long-term plan.

NTPC is one of the leading green hydrogen companies in India.

It also plans to set up its first green hydrogen fuelling station in Leh, Ladakh. It will ply 5 hydrogen buses, to start with.

Despite the prevailing market volatility, NTPC's share price has gained 28.5% on a YTD basis. Have a look at its YTD performance.

More By This Author:

Sensex Trades Marginally Lower, Nifty Below 17,500; Tata Steel & IndusInd Bank Top Losers
Sensex Tanks 770 Points, Nifty Ends Near 17,500; IT, Metal & Energy Stocks Drag
Sensex Recovers From Day's Low, Trades 250 Points Lower, Nifty Below 17,700; TCS & Infosys Top Losers