After opening the day on a negative note, Indian share markets continued the downtrend throughout the session and ended 0.8% lower.

Benchmark indices ended lower as profit booking engulfed equity markets on Friday as rate hike fears by the US Federal Reserve, amid strong labour market data and hawkish FOMC minutes, dented investors' sentiment.

At the closing bell, the BSE Sensex stood lower by 505 points (down 0.8%).

Meanwhile, the NSE Nifty closed down by 166 points (down 0.9%).

Tata Motors and Titan were among the top gainers today.

Adani ports and Britannia on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,401, down by 87 points, at the time of writing.

Broader markets ended on a negative note. The BSE Midcap index ended 0.7% lower and BSE SmallCap ended 0.3% lower.

Barring the auto sector, all other sectoral indices ended the day on a negative note, with stocks in the realty sector and the FMCG sector witnessing the most buying.

Shares of Bosch and M&M hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a negative note. The Nikkei ended lower by 1.2%, while the Hang Seng ended down by 0.9%. The Shanghai Composite ended lower by 0.3%.

The rupee is trading at 82.75 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 58,520 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading marginally higher at Rs 70,379 per kg.
 

Titan hits record high. Here's why

In news from the jewellery sector, the share price of Titan hit a new high of Rs 3,205 today after the jewellery maker shared a strong operational performance update for June 2023 quarter.

The company registered a 20% year-on-year (YoY) revenue growth, with all key consumer businesses exhibiting double-digit growth in the June 2023 quarter.

Titan's jewellery division grew 21% YoY in June 2023 quarter. Buyer growth was higher than average ticket size growth for this period.

In the watches and wearables division, it saw a 13% YoY growth, which comprised 8% growth in the analogue watches segment and 84% YoY growth in wearables. However, on a sequential basis, watches growth has slowed to 2%.

The jewellery sales growth has exceeded expectations, resulting in a four-year compounded annual growth rate (CAGR) of 23%.

Caratlane, a subsidiary of Titan, demonstrated 32% YoY revenue growth, indicating a healthy four-year CAGR of nearly 50%. The eyecare division's revenue grew by 10% YoY, with trade and distribution channels growing ahead of Titan Eye+.

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, Titan was a Tata group penny stock two decades ago.

With the consistent expansion in the luxury segment, Titan stands among the top 5 jewellery stocks in India.
 

Why Kalyan Jewellers' share price is rising

Moving on, shares of Kalyan Jewellers gained 6% on Friday after the jewellery maker's revenue grew 34% in the June 2023 quarter.

The non-south markets for Kalyan Jewellers recorded higher revenue growth as a large number of showrooms were launched in the non-south markets in the last year.

Kalyan Jewellers opened 12 new showrooms in the non-south markets in the April-June quarter. It plans to open 20 more showrooms in the same market before Diwali.

The gold maker's online jewellery platform-Candere witnessed a 22% YoY fall in revenue in June 2023.

The company plans to launch its first Franchise Owned Company Operated showroom in the July to September quarter.

Shares of Kalyan Jewellers have rallied over 20% in June 2023. In the past year, shares have rallied 125%.

Praj Industries to form JV with IOC

Moving on to news from the sugar sector, Praj Industries soared 10% today amid heavy volumes in an otherwise subdued market, after the firm signed a term sheet with Indian Oil Corporation (IOC) to advance plans to strengthen biofuels production capacities in India.

Various biofuels covered under this agreement include sustainable aviation fuel (SAF), ethanol, compressed biogas (CBG), biodiesel and bio-bitumen among others.

Earlier in October 2021, both companies had agreed to form a 50:50 Joint Venture to this end.

The nation's first-of-its-kind advanced biofuel refinery at Indian Oil's Panipat complex is based on Praj's proprietary 2G technology.

The Pune-based company is a supplier or constructor of ethanol plants and a global company that provides various engineering solutions with a focus on the environment, energy, and agri-process industry.

Praj Industries is the Indian market leader in the ethanol plant market and among the top zero liquid discharge players in the country.

Praj Industries is engaged in the field of bio-based technologies and engineering and is among the top ethanol stocks in India.

It is a supplier of ethanol plants and offers sustainable solutions for bioenergy, high-purity water, critical process equipment, breweries, and industrial wastewater treatment.

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