The domestic equity barometers ended with tiny gains after a volatile session on Monday, extending gains for the sixth trading session. After opening at 17,634.90, the Nifty 50 index traded with minimal gains for most part of the session, it hit a day's high of 17,694.10 in afternoon trade. However, the index erased most of the gains but managed to settle above 17,600 level. Realty, auto and IT stocks were in demand while banking and financial services shares declined. Investors will keenly monitor corporate earnings for the quarter ended 31 March 2023 scheduled to begin this week.
As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 13.54 points or 0.02% to 59,846.51. The Nifty 50 index added 24.90 points or 0.14% to 17,624.05. In sixth consecutive sessions, the Sensex jumped 3.88% while the Nifty climbed nearly 4%.
In the broader market, the S&P BSE Mid-Cap index gained 0.38% while the S&P BSE Small-Cap index rose 0.16%.
The market breadth was positive. On the BSE, 2,027 shares rose and 1,593 shares fell. A total of 161 shares were unchanged.
Meanwhile, the NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 4.02% to 12.27.
Skymet expects below normal monsoon for India in 2023:
Private weather forecaster Skymet expects the upcoming June-September monsoon to be 'below normal' to the tune of 94% of the long period average (LPA). In January, Skymet had forecast the monsoon 2023 to be sub-par and now retains the same outlook.
Buzzing Index:
The Nifty Realty index rose 4.29% to 421.35, extending gains for the sixth day in a row. The index surged 13.27% in six trading sessions.
Godrej Properties (up 8.86%), Prestige Estates Projects (up 6.63%), DLF (up 5.88%), Brigade Enterprises (up 3.96%), Sobha (up 3.09%), Macrotech Developers (up 3%), Indiabulls Real Estate (up 2.01%), Oberoi Realty (up 1.21%), Mahindra Lifespace Developers (up 0.88%) and Phoenix Mills (up 0.64%) rallied.
Godrej Properties (GPL) climbed 8.86% after the real estate developer's sales volumes for the quarter grew by 19% QoQ in area terms from 4.42 million square feet (sq. ft) to 5.25 million sq. ft. GPL's sales volumes for the full financial year grew by 40% in area terms from 10.84 million sq. ft. to 15.21 million sq. ft. GPL's cash collections for FY23 grew 41% to Rs 8,991 crore. Q4 FY23 collections stood at Rs 3,822 crore representing QoQ growth of 127% and YoY growth of 52%.
Sobha rallied 3.09% after the company said that its total sales value in Q4 FY23 was Rs 1,463.4 crore, which is higher by 26% as compared with Rs 1,164.2 crore recorded in the corresponding quarter last fiscal. The company's share in the sales value was Rs 1,207.4 crore (up 26% YoY).
Ajmera Realty & Infra India (ARIIL) surged 6.11% after the company announced that its sales value stood at Rs 140 crore in Q4 FY23, registering the growth of 16% as compared with Rs 122 crore in Q4 FY22. Sequentially, sales value rose 10% in Q4 FY23 from Rs 128 crore posted in Q3 FY23.
Stocks in Spotlight:
Tata Motors jumped 5.36%. The Tata Motors Group global wholesales in Q4 FY23, including Jaguar Land Rover (JLR), were at 3,61,361 units, higher by 8%, as compared to Q4 FY22.
Titan Company rose 1.23%. The Tata Group company announced that it witnessed healthy double-digit growth across its key businesses, reporting a revenue growth of 25% year on year (YoY). The rise in the revenue was mainly driven by higher growth contributions from watches & wearables and emerging businesses.
Bajaj Finserv added 0.10%. The company said that Bajaj Allianz Life Insurance Company's total premiums aggregated to Rs 1,676.15 crore for the month of March 2023, up 0.24% YoY. Total premiums in the same period last year were Rs 1,672.18 crore.
Larsen & Toubro (L&T) gained 1.46%. The EPC major said that its hydrocarbon business, L&T Energy Hydrocarbon (LTEH), has secured a significant order under its AdVENT (Advanced Value Engineering and Technology) business vertical. As per L&T classification, the value of the significant project is Rs 1,000 crore to Rs 2,500 crore. The counter hit a 52-week high of Rs 2,319.65 in intraday today.
Oil and Natural Gas Corporation (ONGC) rallied 3.88%. ONGC announced that its board approved the acquisition of 23.04% stake in Mangalore SEZ (MSEZ) from IL&FS for cash consideration of Rs 40.32 crore.
Tata Power Company rose 0.38% after the company said that Asian Development Bank (ADB) has entered into an agreement with its distribution arm Tata Power Delhi Distribution (TPDDL) for subscribing to non-convertible debentures for Rs 150 crore.
Adani Power gained 0.96%. The power utility company announced that the Unit 1 of 800 megawatt (MW) capacity of the 2x800 MW ultra-supercritical power project of Adani Power (Jharkhand) (APJL), situated in Godda district in Jharkhand, has commenced commercial operations.
CreditAccess Grameen added 0.10% after the micro finance lender's disbursements improved to Rs 7,171 crore in Q4 FY23, registering a growth of 24% as against Rs 5,792 crore reported in Q4 FY22. Sequentially, disbursements surged 48% in Q4 FY23 from Rs 4,847 crore posted in Q3 FY23. Assets under management (AUM) jumped 27% to Rs 21,032 crore in the quarter ended 31 March 2023 as compared to Rs 16,599 crore recorded in Q4 FY22 and 18% increase from Rs 17,786 crore in Q3 FY23.
Mahindra & Mahindra Financial Services shed 0.67%. The Reserve Bank of India (RBI) on Thursday (6 April 2023) imposed a monetary penalty of Rs 6.77 crore on Mahindra & Mahindra Financial Services for non-compliance with regulatory norms.
Century Textiles and Industries advanced 2.71% after the company's wholly owned subsidiary, Birla Estate, has entered into the Pune residential real estate market by acquiring 5.76 acres of land in Sangamwadi, Pune. The land was purchased from Sudarshan Chemical Industries (SCIL).
Ethos gained 2.12% after the company said its billing (gross revenue) grew by 30.8% to Rs 242 crore in Q4 FY23 as against Rs 185 crore in Q4 FY22. Ethos said its billing (gross revenue) grew by 36.6% YoY to Rs 918 crore in FY23 as against Rs 672 crore in FY22.
Global Markets:
Asian stocks ended mixed on Monday as some investors returned from a long Easter weekend. Australian and Hong Kong markets remained closed due to a four day Easter holiday till Monday.
The US Stock Market, including the Nasdaq and New York Stock Exchange (NYSE), remained closed on Good Friday.
Investors are in for a busy week of economic data, including the latest consumer price index and producer price index data - due out Wednesday and Thursday, respectively - which will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.
Employment data for March indicated the labor market remained tight last month. Nonfarm payrolls increased by 236,000 jobs in March, the Labor Department said. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. The unemployment rate dipped to 3.5% from 3.6% in the prior month.
No comments:
Post a Comment