Asian share markets are trading lower today as Wall Street indices dropped on renewed concern about the banking sector before a Federal Reserve decision today as policymakers are expected to raise interest rates.

The Nikkei is trading up marginally and the Hang Seng index is trading lower by 1.8%. The Shanghai Composite is trading higher by 1.1%.

Major US stock indices fell more than 1% each on Tuesday as regional bank shares tumbled on renewed fears over the financial system and as investors tried to gauge how much longer the Federal Reserve may need to hike interest rates.

The Dow Jones Industrial Average tumbled 1.1% and the tech-heavy Nasdaq Composite ended 0.9% lower.

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

Source: Equitymaster

Back home, Indian share markets are trading on a negative note following the trend on SGX Nifty.

At present, the BSE Sensex is trading lower by 186 points. Meanwhile, the NSE Nifty is trading down by 59 points.

Benchmark indices opened in the green today. As the session progressed gains were erased.

Asian Paints and HUL are among the top gainers today.

Bajaj Finance and HCL Technologies on the other hand are among the top losers today.

Broader markets are trading on a positive note. Both the BSE Mid Cap index and the BSE Small Cap index are trading higher by 0.4%.

Sectoral indices are trading on a mixed note. Stocks in the realty sector and FMCG sector are witnessing buying.

On the other hand, stocks in the metal sector and IT sector witness selling.

Shares of Indiamart Intermesh and Polycab India hit their 52-week high today.

The rupee is trading at Rs 81.81 against the US dollar.

In commodity markets, gold prices are trading higher by Rs 110 at Rs 60,738 per 10 grams.

Meanwhile, silver prices are trading flat at Rs 75,042 per 1 kg.

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

Speaking of stock markets, what do the charts say about energy stocks?

Energy stocks have been in the news recently. The fall in crude oil prices last year followed by OPEC's decision to cut production, has caused volatility in the market. And that has affected Indian energy stocks as well.

But what do the charts say about these stocks? Should you be bullish or bearish on them?

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.

As an individual investor, you need to sit tight over high-conviction stocks and invest consistently to see the magic of compounding.
 

Adani Total Gas Q4 results

Adani Total Gas on Tuesday reported a 21% rise in net profit at Rs 979.1 million (m) for the March 2023 quarter. This is against a consolidated net profit of Rs 810.9 m in the corresponding quarter of the last financial year.

The Adani group company's consolidated revenue from operations rose by 10.2% to Rs 11.1 bn during the quarter under review compared to Rs 10.1 bn a year ago.

On the operating front, earnings before interest, taxes, depreciation, and amortization (EBITDA) gained 49% year-on-year (YoY) to Rs 19.5 bn and margins improved to 17.5% from 13% in March 2022 quarter.

The board has recommended a dividend of Rs 0.25 per equity share of face value of Rs 1 each fully paid up for the Financial Year 2022-23.

The company said that it has added 126 new CNG stations, thus now standing at 460, while the total PNG home at 7 lakhs, added over 1.2 lakh new homes. The industrial & commercial connections increased by 867 new consumers to 7435.
 

Promoter sells stake from Coforge

Promoter Baring Private Equity Asia has offloaded a 3.5% stake in Coforge through the open market for Rs 8.9 bn.

The private equity major, through its affiliate Hulst B.V., sold a 3.5% stake in the software major at Rs 4,125.4 apiece.

As of March end, the private equity firm held a little over 30% stake in the IT company.

The private equity firm has been offloading stakes in tranches in the company over the last 2-3 years.

Baring Private Equity had taken over Coforge, earlier known as NIIT Technologies, in 2019. Then, it held a 70% stake in the company.

In February this year, the private equity firm sold a significant 9.8% stake in the software company for Rs 24.3 bn.
 

Godrej Consumer Products to raise funds

Godrej Consumer Products informed the stock exchanges that the board of the company may consider approval of raising funds by way of issuance of non-convertible debentures (NCDs) aggregating to an amount up to Rs 50 bn in one or more tranches.

The fast-moving consumer goods (FMCG) business of Raymond Consumer Care was acquired by Godrej Consumer Products for Rs. 28.3 bn on Thursday last week.

The company is also acquiring the registered trademarks of Park Avenue (for the FMCG category), KS, KamaSutra, and Premium through a slump sale in addition to the FMCG business. The transaction is anticipated to be finalized on 10 May 2023.

Godrej Consumer is one of the top 5 FMCG companies in India by growth.

Godrej Consumer is one of the leading FMCG companies in India. The company has five product segments namely household insecticides, soaps, hair colors, liquid detergents, and air fresheners.

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