Asian shares markets are trading mixed today after a varied US session that saw Treasuries and the dollar rally on signals of a cooling jobs market and renewed concerns about the health of regional lenders.

The Nikkei is trading higher by 0.8% and the Hang Seng index is trading marginally lower. The Shanghai Composite is down 0.4.

The Dow and the S&P 500 ended lower on Thursday, dragged down by Walt Disney Co as it lost subscribers, while PacWest led declines in regional banks after posting a drop in deposits.

The Dow Jones Industrial Average ended 0.7% lower and the tech-heavy Nasdaq Composite ended 0.3% higher.

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

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 173 points. Meanwhile, the NSE Nifty is trading down by 54 points.

Asian Paints and M&M are among the top gainers today.

Tata Steel and Power Grid on the other hand are among the top losers today.

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

Broader markets are trading on a mixed note. The BSE Mid Cap index is trading marginally lower and the BSE Small Cap index is trading higher marginally higher.

Sectoral indices are trading on a mixed note. Stocks in the utilities sector, and the metal sector witness selling.

On the other hand, stocks in the auto sector and consumer durables sector witness buying.

Shares of Cera Sanitary and UltraTech Cement hit their 52-week high today.

The rupee is trading at Rs 82.12 against the US dollar.

In commodity markets, gold prices are trading lower by 85 to Rs 60,807 per 10 grams today.

Meanwhile, silver prices are trading lower by 0.7% at Rs 73,286 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 the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

Near-Term Volatility in Sensex Compensated by Long-Term Gains

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.
 

Eicher Motors Q4 results

Royal Enfield motorcycle manufacturer, Eicher Motors surpasses expectations in terms of profit after tax (PAT) in the fourth quarter of financial year 2023.

The automobile giant posted a consolidated PAT of Rs 9.1 billion (bn) in the March 2023 quarter, rising by a whopping 48.4% on a year-on-year (YoY) basis. Sequentially, the growth is around 22.2%.

In the quarter under consideration, the revenue stood at Rs 38 bn, registering a growth against Rs 31.9 bn in Q4 of the previous financial year.

Also, in March 2023 quarter, earnings before interest, tax, depreciation, and amortization (EBITDA) stood at ₹933.6 crore, while margins were at 24.5%.

During the quarter, Royal Enfield recorded sales of 214,685 motorcycles, up 17.9% YoY from 182,125 motorcycles sold during the same period in the financial year 2021-22.

In a meeting held yesterday, the company's board members recommended a final dividend of Rs 37 per equity share for the financial year 2022-23.

In addition, the board has also approved a cash outlay towards capex of Rs 10 bn for the financial year 2023-24, which also includes the investment in an EV manufacturing facility and product development and new product development under the internal combustion engine portfolio.
 

ONGC makes new discoveries

Oil and Natural Gas Corporation (ONGC) on Thursday announced significant discoveries of oil and gas in two separate offshore exploration blocks in the Mumbai Offshore region.

The first discovery was made in the Open Acreage Licensing Policy (OALP) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea. ONGC has named this discovery "AMRIT" and a detailed assessment of the discovery is currently underway.

The second discovery, which ONGC has named "Moonga", was made in another OALP exploration block in Mumbai Offshore, MBS182HDA-1(MBS182HDA-A).

These significant discoveries underscore ONGC's commitment to exploration and its success in unlocking the vast potential of India's hydrocarbon resources.

The company's diligent analysis of geological data and use of advanced technologies has enabled it to identify substantial oil and gas reserves in untapped regions, reinforcing the untapped potential within the OALP blocks.

The oil and gas company promptly notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas (MOP&NG) about these remarkable findings.

These successive discoveries in the OALP blocks awarded under the OALP I and OALP III rounds demonstrate the company's unwavering commitment to unlocking India's hydrocarbon potential, driving economic growth, technological advancements, and environmental sustainability.

ONGC's remarkable exploration successes pave the way for a more prosperous and self-reliant energy future for India, cementing its position as a leading player in the global energy landscape.

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