Asian share markets are trading weaker on Tuesday as investors digested weaker Chinese trade data ahead of key inflation readings from China and the United States to deliver an updated outlook on the health of the global economy.

The Nikkei is trading 0.3% higher, and the Hang Seng index is trading 1.4% lower. While Shanghai Index is trading flat.

US stocks finished higher on Monday, regaining some of the ground lost last week, as investors added positions ahead of Thursday's highly awaited US inflation report.

Dow Jones Industrial Average ended 1.2% higher and the tech-heavy Nasdaq Composite ended 0.6% higher.

Here's a table showing how US stocks performed on Monday:

Source: Equitymaster

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

At present, the BSE Sensex is trading lower by 40 points. Meanwhile, the NSE Nifty is trading down by 12 points.

Cipla and Titan are among the top gainers today.

M&M and Eicher Motors the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index are trading 0.3% higher.

Sectoral indices are trading on a mixed note with stocks in the FMCG sector and telecom sector witnessing the most selling pressure.

Meanwhile, the stocks in realty and energy are witnessing buying.

Shares of Grasim and Cipla hit their 52-week high today.

The rupee is trading at Rs 82.81 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 59,391 per 10 grams today.

Meanwhile, silver prices are trading marginally lower at Rs 71,175 per 1 kg.
 

HDFC Bank's Weightage in FTSE Indices to Increase

Following the merger of the parent company Housing Development Finance Corporation, the investability weight of HDFC Bank in the FTSE Emerging All Cap index grew to 1.52% from 0.81%.

The index aggregator FTSE Russell said the weightage would instead be applied in three tranches by March 2024.

The first tranche will go into effect during the index review in September, the second during the review in December, and the final tranche will go into effect during the review in March.

FTSE Russell has considered client feedback on the significant size of the projected up weight and the potential impact on the company's foreign headroom if the shares in issue and free float update are implemented in their entirety on a one-off basis at the September review.

The eligibility of HDFC Bank will be assessed by FTSE Russell in conjunction with the September 2023 index review. This evaluation will comprise a review of the bank's shares outstanding, free float, and foreign ad room.

Shares of HDFC Bank have been on a tear recently, hitting a fresh 52-week high. Take a look.

HDFC Bank has consistently expanded its margins, making it among the Top 5 Indian Stocks with Consistently Rising Operating Margins.
 

Inox Wind Block Deal

Shares of Inox Wind changed hands in the pre-market session on Tuesday. The stock hit a 52-week high of Rs 224.80 after the deal.

According to the media reports, the promoter entity of the wind energy solutions provider was likely to sell a stake worth Rs 5 bn via a block deal on Tuesday. It was reported that the offer price for the deal will be at a maximum discount of five percent against the current market price.

Inox Wind, part of the US$ 5 billion Inox GFL Group, is a fully integrated player in the wind energy market.

Inox Wind services IPPs, utilities, public sector units, and corporate investors, and three manufacturing plants in Gujarat, Himachal, and Madhya Pradesh.

The Inox GFL Group includes companies like Gujarat Fluorochemicals and Inox Wind. While Gujarat Fluorochemicals is engaged in the manufacturing of specialty chemicals.

In 2023 so far (between 1 January 2023 and 23 June 2023), the stock has already rallied around 116%, delivering multibagger return.

Tata Chemicals Q1 net profit falls 9.7%

Tata Chemicals, part of the Tata Group, on 7 August 2023, reported a 9.67% decline in consolidated net profit at Rs 5.3 bn during the April-June quarter of the current financial year.

The company's net profit stood at Rs 5.9 bn during the corresponding period of the previous fiscal.

Revenue from the operations of the company grew by 5.6% during the quarter under review at Rs 42.2 bn compared to 39.9 bn in the same period of the previous year.

This was further impacted by slower growth in the Chinese economy post-Covid and softening of industrial production in developed economies and this may persist in the near term.

The company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity.

The company delivered a satisfactory performance during the first quarter of FY24, compared to Q1 FY23 despite a challenging environment. The soda ash prices were adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from inner Mongolia, China.

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