Stock Market Updates: Selling continues in the market, today’s Top 5 Shares open with a fall
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At the beginning of the market, the Sensex was trading at a level of 66,523.27 with a weakness of 259.51 points, or 0.39 per cent. At the same time, the Nifty was trading at a level of 19,460.80 with a decline of 65.70 points or 0.34 per cent.
Selling is being seen in the domestic stock market amid weak mix from the global market. In today’s trade, both the Sensex and Nifty indices are looking weak. At the beginning of the market, the Sensex was trading at a level of 66,523.27 with a weakness of 259.51 points, or 0.39 per cent. At the same time, the Nifty was trading at a level of 19,460.80 with a decline of 65.70 points or 0.34 per cent. Weakness is visible in most of the major sectors in today’s business. On Nifty, Auto, Pharma and PSU Bank indices are in green mark, while other indices including Bank, Financial, IT and Metal are seen in red mark. The shares of SUNPHARMA, NTPC, BAJAJ-AUTO, DIVISLAB, DRREDDY are in green color i.e. in growth, while the shares of TITAN, UPL, HINDALCO, HDFCLIFE, BAJAJFINSV are seen in red color i.e. weak. Today i.e. 3 August 2023, some stocks are ready to show action in a volatile market. These stocks can remain in focus in the market today. If you are looking for better stocks in intraday then you can keep an eye on these.
Tata Power
Tata Power Renewable Energy, a subsidiary of Tata Power, has signed two agreements to supply 350 MW of electricity from its solar projects to the Maharashtra State Electricity Distribution Company (MSEDCL). The 200 MW and 150 MW projects located in Maharashtra will play a key role in meeting the state’s renewable energy target, the company said in a statement.
Indigo
IndiGo on Wednesday reported its highest ever quarterly consolidated net profit of Rs 3,090.6 crore for Q1FY24 on the back of higher load factor, lower fuel cost and better foreign exchange rates. IndiGo’s total revenue grew 32 per cent year-on-year (YoY) in the June quarter on the back of a 9 per cent rise in load factor.
Titan
Jewelery and watch maker Titan’s profit in the first quarter of the current financial year declined by 4 per cent to Rs 756 crore. The company had earned a profit of Rs 790 crore in the same quarter of the last financial year. The total income of Titan Company increased to Rs 11,070 crore in the June quarter from Rs 9,131 crore in the same quarter last year. The jewelery business continued to be the leader with a growth of 19 per cent on an annual basis.
Vedanta
Twin Star Holdings, the promoter entity owned by Anil Agarwal, is planning to sell 4.3 per cent stake in Vedanta Ltd to raise up to $500 million to repay debt of parent company Vedanta Resources. Its shares will be sold on Thursday morning, and as per the terms of the transaction, Vedanta Ltd has been offered at a discount of 5 per cent to Wednesday’s closing price of Rs 272.
HPCL
Hindustan Petroleum Corporation bounced back with a strong net profit of Rs 6,765 crore during Q1 FY24. On a sequential basis, the net profit grew by 87 per cent. Whereas, the income from sale of products declined by 2 per cent to Rs 1.18 trillion as compared to Q4FY23. This was due to lower gross refining margins in the latest quarter.
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