Indian share markets witnessed volatile trading activity yesterday and ended on a flat note.
Benchmark indices gave up early gains, dragged primarily by power and energy stocks even as India reported less than 2 lakh daily Covid-19 cases.
At the closing bell yesterday, the BSE Sensex stood lower by 14 points (down 0.1%).
Meanwhile, the NSE Nifty closed higher by 11 points (up 0.1%).
Britannia and Asian Paints were among the top gainers.
HDFC Bank and HDFC Life Insurance, on the other hand, were among the top losers.
The BSE MidCap index ended down by 0.3%, while the BSE SmallCap index ended up by 0.3%.
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Sectoral indices ended on a mixed note with stocks in the power sector, energy sector and finance sector witnessing most of the selling pressure.
Consumer durables stocks, on the other hand, witnessed buying interest.
At 8:15 am today, the SGX Nifty was trading down by 29 points, or 0.2% lower at 15,221 levels. Indian share markets are headed for a negative opening today following the negative trend on SGX Nifty.
Gold prices for the latest contract on MCX were trading down by 0.1% at Rs 48,520 per 10 grams at the time of closing stock market hours yesterday.
Speaking of stock markets, in his latest video for Fast Profits Daily, Vijay Bhambwani shares his view on the huge rally in PSU bank stocks and if the rally will sustain.
Tune in to the video below to find out more:
Also, our chartist Brijesh Bhatia recently recorded a video, showing why he is bullish on PSU banking stocks.
As per Brijesh, PSU banks are warming up for a big and fast rally in the coming weeks.
You can watch Brijesh's video here: Don't Fear PSU Banks Stocks
Among the buzzing stocks today will be Asian Paints and Berger Paints.
Shares of Asian Paints and Berger Paints India hit their respective record highs on the BSE in intra-day trade yesterday on expectations of strong volume growth and the potential demand shift from the unorganized segment to the organized segment.
Yesterday, Asian Paints and Berger Paints India shares were up over 3% on the BSE and surpassed their respective previous highs of Rs 2,871.4 and Rs 824.8, respectively, touched on January 11, 2021.
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The domestic paints industry commands strong pricing power, which is evident from frequent price hikes amid inflationary raw material prices. Moreover, price cuts happen with a lag in a deflationary environment.
Industry volume growth has a strong correlation with GDP growth (1.5-2x). Furthermore, innovation and strong repainting demand (90% of total) are big drivers of growth. Besides, considering the industry's low penetration, growth potential remains huge.
Barbeque Nation Hospitality share price will also be in focus today.
Shares of the company were locked in 20% upper circuit yesterday, after the company posted robust March quarter (Q4FY21) numbers.
Barbeque Nation reported that its consolidated EBITDA (earnings before interest, taxes, depreciation, and amortisation) more than doubled at Rs 561 million in the fourth quarter of FY21.
The company, one of the leading casual dining chains in India, had EBITDA of Rs 246 million in the year-ago quarter.
Its consolidated revenues grew 18.5% year on year (YoY) at Rs 2.3 billion, while same store sales grew 19.9% during the quarter.
With a new addition of delivery to the dine-in business, the company has been able to broaden its reach and cater to new customers.
The share of revenue from digital platforms increased to 24.7% from 20.1% in Q4FY20, while the delivery business has grown around 6 times in Q4FY21 as compared to the same period last year.
The management said that with the gradual opening of the economy and reopening of outlets, the company saw month-on-month increase in sales from dine-in and delivery channels.
BREAKING: India's Top Trader Reveals #1 Investment of the Decade
Banking tech start-up Zeta joined the ranks of unicorn companies after it raised US$ 250 million in funding from SoftBank Vision Fund 2 at a valuation of US$ 1.45 billion.
Sodexo also participated as an additional minority investor in the round that is part of the company's series C investment.
Zeta plans to deploy the capital to fuel its growth in India, US and Europe.
With this, the Indian start-up sector has now added 14 unicorns this year.
The San Francisco and Bengaluru-based Zeta provides modern credit, debit processing, BNPL (buy now pay later), core banking and mobile experiences to banking and fintech companies.
Zeta caters to over 10 banks and 25 fintech firms across eight countries, including Sodexo, HDFC Bank, Kotak Mahindra Bank and Axis Bank.
The company has a presence in North America, LATAM, UK, Europe and Asia.
We will keep you updated on what's brewing up in the startup space. Stay tuned.
Bharti Airtel said it has deployed an additional 11.2 megahertz (MHz) spectrum in the 1800 MHz band along with network software tools across Karnataka to bolster high-speed data capacity.
These network software tools include pre-5G massive MIMO, 4G advanced, and carrier aggregation to step up high-speed network capacity and coverage, according to an official statement.
Airtel deployed 5 MHz spectrum in the 1800 band across Tamil Nadu to bolster capacity. It had acquired large blocks of 1800 MHz and 900M Hz spectrum for Tamil Nadu during the spectrum auctions conducted recently.
To recall, Airtel had acquired the 11.2 MHz spectrum for Karnataka during the auctions.
With its latest spectrum purchase, Airtel said it has a spectrum holding of 68.8 MHz in Karnataka, while the diverse spectrum holdings across 2300 MHz, 2100 MHz, 1800 MHz, and 900 MHz band makes it well-positioned for 5G.
How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.
And to know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
What else is happening in the markets today? Dig in...
Indian share markets ended on a flat note with the Sensex down by 14 points and the Nifty ending up by 11 points.
May 25, 2021 12:30 pmBSE Sensex is trading up by 113 points, while the NSE Nifty is trading up by 52 points.
May 25, 2021 09:30 amIndian share markets open higher. The BSE Sensex opened up by 235 points, while the Nifty is trading higher by 68 points.
May 25, 2021 09:56 AMTATA METALIK share price is trading up by 5% and its current market price is Rs 1,120. The BSE METAL is up by 2.3%. The top gainers in the BSE METAL Index is TATA METALIK (up 5.4%).
May 25, 2021 09:48 AMPERSISTENT SYSTEMS share price has hit an all time high at Rs 2,459 (up 1.3%). The BSE IT Index is up by 0.8%. Among the top gainers in the BSE IT Index today are PERSISTENT SYSTEMS (up 1.3%) and L&T INFOTECH (up 0.9%). The top losers include HEXAWARE TECHNOLOGIES and ZENSAR TECHNOLOGIES (down 0.2%).
May 25, 2021 09:46 AMSCHNEIDER ELECTRIC INFRA share price is trading up by 5% and its current market price is Rs 111. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index is SCHNEIDER ELECTRIC INFRA (up 5.3%). The top losers are SIEMENS (down 0.2%) and HAVELLS INDIA (down 0.8%).
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