After opening the day on a positive note, Indian share markets pared most of the gains in the afternoon session and ended flat.

Indian benchmark indices once again seesawed between gains and losses just to end with minor gains.

The gains made in the early hours were dragged by losses in realty and FMCG stocks, ahead of the much-anticipated address by US Federal Reserve Chair Jerome Powell at the Jackson Hole annual economic symposium.

At the closing bell, the BSE Sensex stood higher by 59 points.

Meanwhile, the NSE Nifty closed higher by 36 points.

NTPC, Titan, and Grasim were among the top gainers today.

Bajaj Finance, Axis Bank, and IndusInd Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,663, up by 74 points, at the time of writing.

Broader markets ended on a positive note. Both, the BSE Midcap index and the BSE Smallcap index ended higher by 0.4%.

Sectoral indices ended on a mixed note with stocks in the metal sector and power sector witnessing maximum buying interest.

On the other hand, stocks in the realty and FMCG sector witnessed selling pressure.

Shares of Uflex, Mahindra & Mahindra, and Indian Hotels hit their 52-week highs today.

Shares of Tejas Networks were in focus today, after gaining 4%. 

Reliance, Tata Steel, and Kotak Mahindra were among the most active shares on the BSE today.

Asian stock markets ended on a mixed note. The Nikkei ended the day higher by 0.6%, while the Hang Seng inched higher by 1%. The Shanghai Composite ended 0.3% lower.

The rupee is trading at 79.8 against the US$.

Gold prices for the latest contract on MCX are trading lower by 0.5% at Rs 51,702 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX trade flat at Rs 55,373 per kg.

In news from the retail sector, Titan's shares hit an over 4-month high today.

Titan gains 3% on Tanishq's likely foray into the US and West Asian markets.

Tata Group company Titan mulled its expansion plan as part of its long-term strategy to tap into demand from large Indian diaspora and Non-Indian Resident (NRIs) communities.

The company expects its sales to be higher by 15-20% this festive season as compared to last year's sales.

Tanishq opened its first international store in November 2020 in Dubai and currently has four stores at international locations. The company is planning to open 20-30 stores in the next 2-3 years in North America and West Asia.

In the past month, shares of the company have surged 11% on the back of strong financial performance in the June quarter of 2022.

The company has commenced its financial year 2023 on a strong note with a three-fold jump in revenue to Rs 89.7 bn.

The company's strong growth outlook, industry tailwinds in the medium term, and strong balance sheet have made it the best player in the retail space.

Speaking of Titan, here's some interesting data, even a tiny investment of Rs 1,000 per month in the stock of Titan, since 2002, would have led to mouthwatering returns.

Take a look at how the power of compounding has gone wild here...

Believe it or not, but Titan was a Tata group penny stock two decades ago.

Moving on to news from the steel sector, shares of Surya Roshni hit the upper circuit today.

Surya Roshni's stock zooms 20% today on the back of a healthy business outlook.

Surya Roshni is India's largest exporter of ERW (Electrical Resistance Welding) pipes, the largest manufacturer of GI (Galvanised Iron) pipes, and the country's second-largest player in the domestic lighting industry.

The company's majority of the sales volume comes from rural, semi-urban and exports carried out by the firm.

With the strong emphasis of the Government on 'Aatma Nirbhar Bharat Abhiyaan' and 'Vocal for Local' and PLI Scheme for LED lighting products, the company expects the home appliances and pipe segment to perform well.

With both short-term and long-term strategies in place, the company has aligned its resources to the needs of the industry and customers to achieve its future goals.

The company in the release, post the AGM, said:

In the consumer lighting, the Company will continue with the high growth momentum by focusing on further improving the distribution and reach, across urban, semi-urban and rural India.
There will be several new product launches, across LED Lamps, battens, and down lighters, with a strong focus on smart lighting products. Besides, the Company will continue to aggressively drive channel financing.

However, in the past one year, shares of the company have underperformed the market, by falling 15%, due to disappointing operational performance on account of rising input costs.

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