Share markets in India are presently trading marginally higher.
The BSE Sensex is trading up by 242 points, up 0.4%, at 55,797 levels.
Meanwhile, the NSE Nifty is trading up by 65 points.
Bajaj Finance and Bajaj Finserv are among the top gainers today. Tata Motors and Nestle India are among the top losers today.
The BSE Mid Cap index is trading up by 0.7%
The BSE Small Cap index is trading up by 0.9%.
On the sectoral front, stocks from the oil & gas sector are witnessing most of the buying interest.
On the other hand, stocks from the software sector are witnessing most of the selling pressure.
US stock futures are trading higher today, indicating a positive opening for Wall Street indices.
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Nasdaq Futures are trading up by 66 points (up 0.4%) while Dow Futures are trading up by 111 points (up 0.3%).
The rupee is trading at 74.13 against the US$.
Gold prices are trading down 0.1% at Rs 47,543 per 10 grams.
Gold prices edged lower in Indian markets today after a strong jump in the previous session. On MCX, gold futures were down 0.2% to Rs 47,495 per 10 grams. In the previous session, gold had jumped 0.9%.
In global markets, gold rates dipped today but held on above the key psychological level of US$ 1,800 on expectations that the US Federal Reserve might delay cutting back its stimulus amid rising cases of the Delta coronavirus variant.
Spot gold eased 0.2% to US$ 1,801.8 per ounce after strong gains in the previous session.
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?
Speaking of the stock market, Brijesh Bhatia, Research Analyst at Fast Profits Report, shares a simple way to help you decide between intraday trading and swing trading, in his latest video for Fast Profits Daily.
Moving on to stock-specific news...
Among the buzzing stocks today is Bajaj Finserv.
Shares of Bajaj Finserv rose over 8% in intraday trade today after the company said that it has received an approval from the market regulator to set up a mutual fund in the country.
In an exchange filing, Bajaj Finserv said,
Last month, the board of the company had approved an investment of Rs 3.4 bn in its wholly-owned subsidiary Bajaj Finserv Direct to create a digital marketplace for loans, insurance, mutual funds, payments and e-commerce.
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Bajaj Finserv holds stakes in Bajaj Allianz Life (sixth-largest private insurer), Bajaj Allianz General Insurance (BAGIC) (second-largest general insurer), Bajaj Finance (BFL) and Bajaj Financial Solutions.
In the past three months, the stock has outperformed the market by surging 42% compared to a 10% gain in the S&P BSE Sensex. A sharp run-up in the stock price has propelled its market capitalisation beyond Rs 2.5 tn mark today.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, Bajaj Finserv shares were trading up by 8.1% on the BSE.
Moving on to news from the engineering sector...
Shares of Kabra Extrusiontechnik (KET) soared 16% in intraday trade today on BSE to hit a record high of Rs 248.6 after Battrixx, the company's battery division, announced its association with WardWizard Innovations and Mobility.
The stock surpassed its previous high of Rs 244.4, touched on 18 August 2021.
Battrixx said it has received its single largest order to supply 8000 battery packs for Joy E-Bike (electric two-wheelers) produced by WardWizard.
WardWizard Innovations & Mobility is one of the leading auto manufacturing companies in the electric vehicle (EV) segment under the brand name Joy e-bike, providing a greener alternative to traditional fuel-driven bikes.
Battrixx is positioned to provide a wide range of advanced lithium-ion battery packs with a smart Battery Management System (BMS) to power the growth of India's transition to green energy storage and electric transportation.
Battrixx offers light weight, high efficiency, maintenance free, smaller carbon footprint batteries.
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KET has been the country's largest manufacturer of plastic extrusion machinery for more than 4 decades and has recently ventured into manufacturing of lithium-ion battery packs.
How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.
Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.
Here's what co-head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of Profit Hunter:
As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.
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 open marginally higher. The BSE Sensex opened up by 135 points, while the Nifty is trading higher by 46 points.
Aug 24, 2021 09:47 AMSADBHAV ENGINEERING share price is trading down by 5% and its current market price is Rs 49. The BSE CAPITAL GOODS is up by 0.9%. The top gainers in the BSE CAPITAL GOODS Index are GRAPHITE INDIA (up 2.8%) and CARBORUNDUM UNIVERSAL (up 2.3%). The top losers is SADBHAV ENGINEERING (down 5.1%).
Aug 24, 2021 09:41 AMJINDAL STAINLESS share price is trading up by 5% and its current market price is Rs 136. The BSE METAL is up by 2.5%. The top gainers in the BSE METAL Index are JINDAL STAINLESS (up 5.1%) and NALCO (up 5.6%).
Aug 24, 2021 09:33 AML&T INFOTECH share price has hit an all time high at Rs 5,142 (up 0.5%). The BSE IT Index is up by 0.4%. Among the top gainers in the BSE IT Index today are L&T INFOTECH (up 0.5%) and ORACLE FINANCIAL (up 0.9%). The top losers include HEXAWARE TECHNOLOGIES and COFORGE (down 0.2%).
Aug 24, 2021 09:31 AMTECH MAHINDRA share price has hit an all time high at Rs 1,455 (up 2.0%). The BSE IT Index is up by 0.4%. Among the top gainers in the BSE IT Index today are TECH MAHINDRA (up 2.0%) and L&T INFOTECH (up 0.6%). The top losers include HEXAWARE TECHNOLOGIES and CYIENT (down 0.1%).
Aug 24, 2021 09:31 AMLINDE INDIA share price has hit an all time high at Rs 2,106 (up 2.7%). The BSE OIL & GAS Index is up by 2.0%. Among the top gainers in the BSE OIL & GAS Index today are LINDE INDIA (up 2.7%) and RELIANCE IND. (up 0.1%).
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