Sensex Today Trades Lower; Asian Paints & BPCL Top Losers

Markets in Asia-Pacific inched higher this morning, with Japan's Nikkei 225 index at record highs of 38,924.8.

US equities ended mixed after hawkish FOMC minutes reading but futures rose overnight on Nvidia's blockbuster earnings.

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

Stock/Index LTP Change ($) Change (%) Day High Day Low 52-Week High 52-Week Low
Alphabet 143.84 1.64 1.15% 143.98 141.91 155.2 88.86
Apple 182.32 0.76 0.42% 182.89 180.66 199.62 143.9
Meta 468.03 -3.22 -0.68% 469 461.79 488.62 167.66
Tesla 194.77 1.01 0.52% 199.44 191.95 299.29 152.37
Netflix 573.35 -1.78 -0.31% 575.78 567.32 597 285.33
Amazon 168.59 1.51 0.90% 170.23 167.14 175.39 88.12
Microsoft 402.18 -0.61 -0.15% 402.29 397.22 420.82 245.61
Dow Jones 38612.24 48.44 0.13% 38618.03 38338.58 38927.08 31429.82
Nasdaq 17478.91 -67.19 -0.38% 17482.13 17319.44 18041.45 11695.41

Data Source: Equitymaster

At present, the BSE Sensex is trading 50 points lower and NSE Nifty is trading 17 points lower.

Axis Bank, Grasim, and HCL Tech are among the top gainers today.

BPCL, Asian Paints, and Bharti Airtel on the other hand are among the top losers today.

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

Sectoral indices are trading mixed, with socks in the realty sector and the metal sector witnessing buying. Meanwhile, stocks in the telecom sector and oil & gas sector witnessed selling pressure.

The rupee is trading at Rs 82.93 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 62,108 per 10 grams today.

Meanwhile, silver prices are trading marginally higher at Rs 70,669 per 1 kg.
 

Hero MotoCorp Losing Market Share

Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI).

Hero's share of rural two-wheeler sales in India has dropped from 40.4% in 2018 to 33.3% in 2023.

In contrast, Bajaj's share increased from 12.7% in 2018 to 13.9%, HMSI's from 21.8% to 22.2%, and TVS' from 15.5% to 17.8%.

However, as per Statista, Hero MotoCorp has the highest market share of 32.2% in the two-wheeler segment.

If we look at the performance of both stocks over the last year, then both stocks have outperformed the Nifty 50.

Moreover, TVS Motors outperformed Hero MotoCorp. In the last year, Hero MotoCorp delivered returns of 54.8%, while TVS Motors returned 85.8%.

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LTI Miindtree Inks MoU With Eurolife FFH

LTI Mindtree has signed a Memorandum of Understanding (MoU) with Eurolife FFH, a leading insurance company in Athens, to establish a first-of-its-kind Gen Al and Digital Hub in Athens and dedicated facilities in Poland, Europe, and Mumbai.

As a part of this association, Eurolife FFH will set up Generative Al and Digital Hub in Athens to develop innovative solutions for insurance businesses in Greece, and LTIMindtree will provide deep domain expertise and support from its dedicated facilities in Poland and Mumbai.

Professionals from both companies will jointly undergo specialized training in Generative Al and Digital Transformation to develop cutting-edge products and services that will enhance customer experience and operational efficiency for businesses across insurance, banking, shipping, and manufacturing industries.

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.

LTIMindtree, a Larsen & Toubro Group company, combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.
 

NBCC to Develop Amrapali Projects

State-owned NBCC on Wednesday said it got approval from Noida Authority to develop five Amrapali projects worth Rs 100 bn.

The five projects are Centurian Park, GH-05, Sector Tech Zone-IV, Greater Noida, Golf Homes, GH-02, Sector-4, Greater Noida, Leisure Park, GH-01, Tech Zone-IV, Greater Noida, Leisure Valley, GH-02, Tech Zone-IV, Greater Noida, and Dream Valley, GH-09, Tech Zone-IV, Greater Noida.

In December 2023, NBCC announced sales of 5,000 units for Rs 29 bn across several residential projects of the erstwhile Amrapali Group.

As per the direction of the Supreme Court, the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through NBCC.

According to NBCC, there were 46,575 apartments across 25 housing projects, and out of that 8,416 units were already occupied by home buyers before the Supreme Court judgment in July 2019.

As a project management consultant (PMC), NBCC got the mandate of completing the remaining 38,159 units and also the pending common facilities in those projects where 8,416 units were already delivered with an estimated cost of Rs 82.7 bn.


More By This Author:

Sensex Today Plunges 550 Points; Zee Entertainment Tanks 14%, MRPL 6%
Sensex Today Trades Higher; Nifty Hits Fresh High
Sensex Today Ends 350 Points Higher; Nifty Ends at Record High

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity ...

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