After opening the day on a negative note, Indian share markets swung between gains and losses to end flat.

Benchmark indices witnessed volatile trading activity as mixed cues from US economic data on a growth trajectory, crude oil prices hovering around a three-week high, and reports of a surge in Covid-19 cases in China, created nervousness among investors.

Higher oil prices hurt oil-importing countries like India, where crude constitutes the bulk of its import bill.

At the closing bell, the BSE Sensex stood lower by 17 points.

Meanwhile, the NSE Nifty closed down by 10 points (down 0.1%).

Titan, M&M, and Power Grid Corporation were among the top gainers today.

Apollo Hospital, Bharti Airtel, and Hindalco, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,127, down by 22 points, at the time of writing.

Broader markets settled on a positive note. The BSE MidCap gained 0.2% while the BSE SmallCap index ended 0.5% higher.

Sectoral indices ended on a mixed note with stocks in the power sector, energy sector, and oil & gas sector witnessing buying.

While stocks in the healthcare sector, metal sector, and telecom sector witnessed selling pressure.

Shares of Jindal Steel and Power, and RBL India hit their 52-week highs today.

Continuing its downtrend, Amara Raja Batteries' share price fell over 3% today.

Asian share markets ended on a mixed note. The Hang Seng rose 1.6% while the Shanghai Composite fell 0.3%. The Nikkei edged lower by 0.4%.

US stock futures are trading on a positive note. Dow futures are trading up by 0.2% while Nasdaq futures are trading flat.

The rupee is trading at 81.8 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.5% at Rs 54,724 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.8% at Rs 69,253 per Kg.
 

Adani Enterprises acquires SIBIA Analytics

Adani Enterprises' share price gained over 1% today.

The gains were on the back of Adani group's flagship company completing the acquisition of a 100% stake in SIBIA Analytics and Consulting Services.

The acquisition was carried out through a cash consideration of Rs 148 million (m).

SIBIA Analytics and Consulting Services are engaged in the business of Artificial Intelligence and Machine Learning.

The acquisition will help Adani Group to enhance its Artificial Intelligence and Machine Learning capabilities.

Adani Enterprises signed a binding term sheet to acquire a 100% stake in SIBIA Analytics and Consulting Services on 15 October 2022.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centered on the fields of airport management, technology parks, roads, data center, and water infrastructure.

With a 1,528% rise in the stock price in the last two years, Adani Enterprises is among the top-performing stocks since the March 2020 crash.

RVNL bags Rs 15.5 billion contract

Moving on to news from the engineering sector, shares of Rail Vikas Nigam climbed 4.9% today.

This rise was seen after the company got appointed as the project implementation agency for the development of the UTF Harbor Project in Maldives.

The project will be executed within 24 months from now.

The Maldives project is the second big order win for RVNL within a week. On 22 December 2022, the company received a contract worth Rs 1.9 bn for the construction of the Bhesan Depot and workshop from Gujarat Metro Rail Corporation (GMRC).

The company is engaged in the business of implementing various types of Rail infrastructure projects assigned by the Ministry of Railway, including doubling, gauge conversion, new lines, railway electrification, and major bridges.

RVNL is among the penny stocks which offer good dividend yields.
 

Adani Transmission incorporates subsidiary

Moving on to news from the power sector, shares of Adani Transmission jumped 2.8% today.

This was after the company, announced that it incorporated a wholly-owned subsidiary, Best Smart Metering (BSML), on 27 December 2022.

BSML is incorporated in India and registered with the Registrar of Companies in Gujarat.

Note that Adani Transmission is riding high on growth prospects as India's energy requirement is set to quadruple in the coming years. This makes Adani Transmission a key beneficiary as it already has a strong and reliable power transmission network.
 

Chaman Lal Setia Exports hits 52-week high

Moving on to news from the food and tobacco sector, shares of Chaman Lal Setia Exports soared 11% today on the back of heavy volumes.

A total of 1.2% of the total equity shares of the company changed hands today.

The company is the world's largest privately labeled rice trader and manufacturer.

It is situated amid the richest paddy fields at Karnal in Haryana with a manufacturing plant and a processing plant.

Despite the increase in freight cost and paddy prices, the operating margin of the company for the September 2022 quarter remained healthy.

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