The BSE Sensex is trading at the level of 62,142 with a gain of 0.6%, up 377 points.
Meanwhile, NSE Nifty is trading up 85 points.
Tech Mahindra and L&T are among them Today’s Top Beneficiaries. ITC and Eicher Motors are the biggest losers today.
BSE Midcap index is trading flat.
BSE Small Cap Index is trading up 0.2%
On the sector front, software sector stocks are witnessing maximum buying.
On the other hand, real estate sector stocks are witnessing the most selling pressure.
US stock futures are trading higher today, indicating a positive start for Wall Street.
Nasdaq Futures is trading up 35 points (0.2%) while Dow Futures is trading 71 points (up 0.2%).
Rupee is trading at 75.34 against US Dollar.
Gold prices are trading higher by 0.3% ₹47,437 per 10 grams.
Gold prices rose in Indian markets today on a fall in the US dollar and some support for the precious metal from US bond yields.
Gold futures up 0.1% on MCX ₹47,319 per 10 grams. In the previous session, gold prices had declined ₹from 741 ₹47,384 per 10 grams, seeing a heavy fall in global markets on Friday.
The 10-year Treasury yield and strength in the dollar also put pressure on the precious metal.
Moving on to the stock-specific news…
in the middle gulzar stock today IEX is.
Indian Energy Exchange (IEX) shares hit their upper circuit limit of 20% on exchanges today after the company said it would consider the issue of bonus shares.
In a regulatory filing, the company said,
The Board of Directors of the Company is scheduled to meet on Thursday, 21 October 2021 to consider the proposal for Bonus Issue of Equity Shares subject to the approval of the Shareholders of the Company.
The Board will also consider and approve the financial results for the quarter and half year ended September 2021.
Shares of IEX have gained 360 per cent in the last one year and up to 55 per cent in the last one month.
IEX is the leading electricity exchange in India, having monopoly status in the energy exchange business. It has a market share of around 95% in Power Exchange.
Market.
We will keep you posted on more updates from this space. stay tuned.
At the time of writing, the shares of IEX were trading up 15.5 per cent on the BSE.
Moving on to the news of the smallcap sector…
TTK Prestige hits record high as board considers stock split
Shares of TTK Prestige jumped 20% on exchanges in intra-day trade today, hitting a record high after the company plans to consider a proposal for a stock split on October 27, 2021.
The stock surpassed its previous high ₹It touched 9,580 on 5 July 2021.
Stock splits are usually done to make it more affordable for small retail investors and to increase liquidity.
Existing shares are split, but the underlying value remains the same. As the number of shares increases, the price per share decreases.
As on 30 September 2021, TTK Prestige had 13.7 million outstanding equity shares.
The promoter and promoter group held 70.4% stake, while the remaining 29.6% was held by public shareholders including mutual funds (13.1%), foreign portfolio investors (9.9%) and individual shareholders (5.1%).
With momentum and an optimistic outlook on the Consumer Confidence Index, analysts expect consumer durables companies to continue their growth momentum. TTK Prestige is also likely to grow.
How it turns out remains to be seen. In the meantime, stay tuned for more updates from this area.
Speaking of stocks, here is an example of the four stages that a stock goes through during its life cycle. The cycle repeats itself after the stock has passed through all these stages.
see full image
This cycle defines everything in the markets. If you master this cycle, nothing can stop you from making huge profits.
This article is syndicated from equitymaster.com
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