Barometers trade with modest gains; Sensex adds 351 pts.

 

The key equity indices continued to trade with modest gains in mid-afternoon trade. The Nifty hovered above the 17,950 mark. While large caps were trading higher, broader market witnessed selling. FMCG, IT and auto shares advanced while PSU bank, metal and media shares corrected.

The barometer index, the S&P BSE Sensex, was up 351.03 points or 0.58% to 60,444. The Nifty 50 index added 95.10 points or 0.53% to 17,989.95.

The broader market declined. The S&P BSE Mid-Cap index slipped 0.39% while the S&P BSE Small-Cap index shed 0.22%.

The market breadth was negative. On the BSE, 1532 shares rose, and 1931 shares fell. A total of 140 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose to 7.336 from its close of 7.327 recorded in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 81.81, compared with its close of 81.5825 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement lost 0.11% to Rs 56,421.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 102.29.

The United States 10-year bond yield rose 1.30% to 3.557.

In the commodities market, Brent crude for March 2023 settlement lost 49 cents or 0.57% to $84.79 a barrel.

Buzzing Index:

The Nifty Auto index rose 0.36% to 12,794.75. The index has declined 0.65% in the past trading session.

Tube Investments of India (up 1.15%), Eicher Motors (up 1.15%), Maruti Suzuki India (up 0.93%), Balkrishna Industries (up 0.86%), Tata Motors (up 0.81%), MRF (up 0.64%), Bajaj Auto (up 0.5%) and Bharat Forge (up 0.27%) advanced.

Stocks in Spotlight:

Mastek slipped 3.49% after the IT company's consolidated net profit tumbled 18.86% to Rs 64.18 crore as against Rs 79.10 crore recorded in Q2 FY23. In dollar terms, the firm's revenue was $80.1 million (CC growth of 3.1% QoQ and 20% YoY). The board of directors has recommended an interim dividend Rs 7 per equity share, which will be paid to the eligible shareholders within 30 days. The record date for the same is fixed on Wednesday, 1 February 2023.

Bank of India slumped 5.47%. The state-run bank's net profit increased 12% to Rs 1,151 crore on 26.3% rise in total income to Rs 14,159.60 in Q3 FY23 over Q3 FY22. Net interest income (NII) increased by 64% YoY to Rs 5,596 crore for Q3 FY23 as against Rs 3,408 crore for Q3 FY22. Net interest margin (NIM) (domestic) improved to 3.72% in Q3 FY23 as compared to 2.51% in Q3 FY22.

Glenmark Pharmaceuticals declined 0.75%. The drug maker launched the sacubitril + valsartan tablets in India, for the treatment of heart failure marketed under the brand name 'Sacu V'.

Nifty climbs above 18,000; Sensex adds 387 pts; FMCG shares gain.

 

STREET INVESTMENT

The domestic equity benchmarks traded with moderate gains in morning trade. The Nifty marched above the key 18,000 level. FMCG shares advanced for the second straight day.

The barometer index, the S&P BSE Sensex, was up 386.63 points or 0.64% to 60, 479.60. The Nifty 50 index added 107.65 points or 0.60% to 18,002.50.

In the broader market, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index shed 0.02%.

The market breadth was strong. On the BSE, 1,670 shares rose, and 1,456 shares fell. A total of 185 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,422.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,953.40 crore in the Indian equity market on 13 January, provisional data showed.

Earnings Today:

Bank of India (up 1.23%), ICICI Lombard General Insurance Company (up 0.06%), ICICI Prudential Life Insurance Company (down 0.92%), Delta Corp (down 1.56%), Eris Lifesciences (down 0.05%), Hathway Cable & Datacom (up 0.90%), Mastek (down 1.68%), Metro Brands (up 0.93%), Network18 Media & Investments (up 0.53%), TV18 Broadcast (down 0.13%) and Tata Investment Corporation (up 1.42%) will announce their quarterly results later today.

Buzzing Index:

The Nifty FMCG index gained 1.22% to 44,544.50, extending gains for the second day. The index advanced 1.34% in two trading sessions.

Hindustan Unilever (up 2.79%), Radico Khaitan (up 2.25%), ITC (up 0.86%), Godrej Consumer Products (up 0.84%), Dabur India (up 0.71%), Marico (up 0.62%), Britannia Industries (up 0.59%), Nestle India (up 0.39%), Colgate-Palmolive (India) (up 0.36%) and Tata Consumer Products (up 0.28%) advanced.

Stocks in Spotlight:

Siemens rose 0.67% after it received an order for 1,200 locomotives of 9000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and single largest order in the history of Siemens in India. The contract has a total value of Rs 26,000 crore (approximately), excluding taxes and price variation.

Tinplate Company of India slipped 1.08% after the company announced that its net profit declined 61.7% to Rs 36.38 crore on 18.7% decrease in net sales to Rs 867.06 crore in Q3 FY23 over Q3 FY22.

V-Mart Retail fell 0.93% after a fire accident took place at one of the company's store at Kanpur in Uttar Pradesh on Monday, 16 January 2023. V-Mart Retail clarified that there was no loss or injury to human life.

Indices drift higher in early trade; Nifty above 17,950

STREET INVESTMENT

The key equity indices were trading with decent gains in early trade. The Nifty traded above the 17,950 level. PSU bank, IT and oil & gas shares were in demand while metal, pharma and media shares corrected.

The barometer index, the S&P BSE Sensex, was up 218.23 points or 0.36% to 60,311.20 The Nifty 50 index added 60.20 points or 0.34% to 17,955.05.

In the broader market, the S&P BSE Mid-Cap index slipped 0.02% while the S&P BSE Small-Cap index gained 0.06%.

The market breadth was positive. On the BSE, 1,493 shares rose, and 1,070 shares fell. A total of 182 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 750.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 685.96 crore in the Indian equity market on 16 January, provisional data showed.

Stocks in Spotlight:

NTPC rose 0.75%. NTPC Renewable Energy Ltd. (NTPC REL) signed a Memorandum of Understanding (MoU) with Government of Tripura for Development of Floating and Ground Mounted based Renewable Energy Projects in the State of Tripura.

Siemens added 1.73%. Siemens has received an order for 1,200 locomotives of 9000 horsepower (HP) from Indian Railways. Siemens will design, manufacture, commission and test the locomotives. The contract has a total value of Rs. 26,000 crore (approximately), excluding taxes and price variation.

Angel One rose 0.91%. Angel One reported 38.3% rise in consolidated net profit to Rs 227.7 crore on a 25.5% increase in total income to Rs 759.7 crore in Q3 FY23 over Q3 FY22.

Global markets:

Asian stocks are trading mixed Tuesday as investors digest the Chinese economic data released today.

China reported 3% GDP growth for 2022. Retail sales in December declined by 1.8% from a year ago. Industrial production rose by 3.6% in 2022. The figure rose by 1.3% in December.

US stock market were closed on Monday, 16 January 2023, in observance of Martin Luther King, Jr. Day.

U.S. Treasury Secretary Janet Yellen is scheduled to hold a meeting with Chinese Vice Premier Liu He on the sidelines of the World Economic Forum, as per reports. The two will hold a meeting to strengthen macroeconomic and financial policy coordination.

Wipro Q3 Results: विप्रो के तिमाही नतीजों का एलान, नेट प्रॉफिट 3% बढ़ा, रेवेन्यू में 14.3% का इजाफा |

 

Wipro Q3 Results: विप्रो ने तीसरी तिमाही (Q3FY23) के नतीजों का एलान कर दिया है. अक्टूबर से दिसंबर 2022 के दौरान कंपनी के नेट प्रॉफिट में 3 फीसदी की बढ़ोतरी हुई है, जबकि कन्सॉलिडेटेड रेवेन्यू में 14.3 फीसदी का इजाफा दर्ज किया गया है. कंपनी के नतीजे आमतौर पर बाजार की उम्मीदों के आसपास ही रहे हैं. पूरे वित्त वर्ष (FY23) के लिए कंपनी ने अपने आईटी सर्विसेज बिजनेस के रेवेन्यू में 11.5-12% बढ़ोतरी की उम्मीद भी जाहिर की है. इसके साथ ही कंपनी ने मौजूदा वित्त वर्ष के लिए 1 रुपये के अंतरिम डिविडेंड की घोषणा भी की है.

विप्रो के शुक्रवार को घोषित तिमाही नतीजों के मुताबिक अक्टूबर-दिसंबर 2022 के दौरान कंपनी की कन्सॉलिडेटेड रेवेन्यू सालाना आधार पर 14.3 फीसदी बढ़कर 23,229 करोड़ रुपये रही. तीसरी तिमाही के दौरान कंपनी का कन्सॉलिडेटेड नेट प्रॉफिट सालाना आधार पर 2.8 फीसदी की बढ़ोतरी के साथ 3053 करोड़ रुपये रहा. पिछले साल की तीसरी तिमाही के दौरान कंपनी का नेट प्रॉफिट 2,969 करोड़ रुपये रहा था. सीक्वेंशियल आधार पर देखें तो कंपनी के रेवेन्यू में 3 फीसदी की बढ़ोतरी दर्ज की गई है, जबकि मुनाफे में 15 फीसदी का उछाल देखने को मिला है.

Benchmarks trade with significant cuts; IT shares rise for 2nd day. 12 Jan 2023

  

The key equity benchmarks continued to trade with significant cuts in early afternoon trade. The Nifty continued to trade below the 17,850 mark after the hitting the day's high of 17,945.80 in early trade. IT shares advanced for second consecutive session.

The barometer index, the S&P BSE Sensex, was down 249.21 points or 0.41% to 59,856.29. The Nifty 50 index lost 73.05 points or 0.41% to 17,822.65.

In the broader market, the S&P BSE Mid-Cap index slipped 0.18% while the S&P BSE Small-Cap index shed 0.01%.

The market breadth was negative. On the BSE, 1,421 shares rose and 1,931 shares fell. A total of 161 shares were unchanged.

Investors look ahead to the U.S. consumer price index report due later in the day. The December CPI report will inform investors as to whether the Federal Reserve needs to move forward with more aggressive interest rate hikes to tame inflation, or if the central bank can pull back as inflation is showing signs of steadily cooling off.

On the macro front, the Industrial Production and Manufacturing Production data for November will be released today. Inflation rate for December will also be declared today.

Economy:

The provisional figures of direct tax collections up to 10 January 2023 stood at Rs 14.71 lakh crore which is 24.58% higher than the gross collections for the corresponding period of last year.

Direct Tax collection, net of refunds, stood at Rs 12.31 lakh crore which is 19.55 % higher than the net collections for the corresponding period of last year. This collection is 86.68% of the total Budget Estimates of Direct Taxes for F.Y. 2022-23.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.49% to 15.67. The Nifty 25 January 2022 futures were trading at 17,886.95, at a premium of 64.3 points as compared with the spot at 17,822.65.

The Nifty option chain for the 25 January 2022 expiry showed maximum Call OI of 30.6 lakh contracts at the 18,000 strike price. Maximum Put OI of 31.6 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty IT index rose 0.43% to 28,719.25. The index has advanced 0.76% in two sessions.

Persistent Systems (up 1.36%), HCL Technologies (up 1.23%), LTI Mindtree (up 0.98%), L&T Technology Services (up 0.47%) and Tata Consultancy Services (up 0.34%) were the top gainers.

On the other hand, Coforge (down 1.55%), Wipro (down 0.37%) and Mphasis (down 0.19%) turned lower.

Stocks in Spotlight:

State Bank of lndia (SBI) was down 0.58%. The public sector bank said that the Central Government has extended the term of Challa Sreenivasulu Setty as the managing director of SBI for a period of two years, effective from 20 January 2023.

Zydus Lifesciences slipped 0.70%. The company's subsidiary Zydus Worldwide DMCC (Zydus) has received final approval from the United States Food and Drug Administration (USFDA) to market Brexpiprazole Tablets. Brexpiprazole is an atypical antipsychotic indicated for use as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD) in adults. The tablets had annual sales of USD 1,548 million in the United States according to IQVIA data (IQVIA MAT Sept. 2022).

Market at day's low, Nifty below 17,850 mark. 12 Jan 2023

The headline equity indices traded with modest losses and hit a fresh intraday low in mid-morning trade. The Nifty traded below the 17,850 mark after the hitting the day's high of 17,945.80 in early trade. The Sensex traded below the key 60,000 level. IT, realty and consumer durables stocks edged higher, oil & gas, bank and private bank shares corrected.

The barometer index, the S&P BSE Sensex, was down 335.62 points or 0.56% to 59,769.88. The Nifty 50 index lost 88.25 points or 0.49% to 17,807.45.

In the broader market, the S&P BSE Mid-Cap index shed 0.11% while the S&P BSE Small-Cap index rose 0.01%.

The market breadth was negative. On the BSE, 1,482 shares rose and 1,792 shares fell. A total of 160 shares were unchanged.

Investors look ahead to the U.S. consumer price index report due later in the day. The December CPI report will inform investors as to whether the Federal Reserve needs to move forward with more aggressive interest rate hikes to tame inflation, or if the central bank can pull back as inflation is showing signs of steadily cooling off.

On the macro front, the Industrial Production and Manufacturing Production data for November will be released today. Inflation rate for December will also be declared today.

Buzzing Index:

The Nifty Bank index declined 0.75% to 41,914.25. The index added 0.52% in the past trading session.

Axis Bank (down 2.19%), Kotak Mahindra Bank (down 1.55%), Bandhan Bank (down 1.53%), Punjab National Bank (down 1.42%), ICICI Bank (down 0.93%), State Bank of India (down 0.79%), Federal Bank (down 0.26%), IDFC First Bank (down 0.17%), IndusInd Bank (down 0.12%) and HDFC Bank (down 0.05%).

Stocks in Spotlight:

TVS Motor Company shed 0.78%. The company announced its intention to invest in Madhya Pradesh (MP) for its potential future two-wheeler and three-wheeler expansion in electric and internal combustion engine vehicles. This expansion plan entails an investment of over Rs 1,000 crores and could create direct and indirect employment in Madhya Pradesh of over 2,000 jobs.

Zydus Lifesciences declined 1.12%. The drug maker said that Worldwide DMCC , subsidiary of Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Brexpiprazole tablets and 180 days shared exclusivity for Brexpiprazole Tablets. Brexpiprazole is an atypical antipsychotic indicated for use as an adjunctive therapy to antidepressants for the treatment of major depressive disorder (MDD) in adults.

Global Markets:

Asian stocks were trading mixed as investors look ahead to the U.S. consumer price index report Thursday.

Inflation in China accelerated 1.8% in December compared with a year ago as food prices rose, data from the National Bureau of Statistics showed. The CPI figure was in line with expectations and higher than the previous month's reading of 1.6%.

US stocks ended up sharply on Wednesday as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.

Indices edge higher, breadth strong. 12 Jan 2023

  

The domestic equity benchmarks were trading with minor gains in early trade. The Nifty traded above the 17,900 level. IT, consumer durables and realty stocks advanced while metal, oil & gas and healthcare shares declined.

The barometer index, the S&P BSE Sensex, was up 65.59 points or 0.11% to 60,171.09. The Nifty 50 index rose 21.20 points or 0.12% to 17,916.90.

In the broader market, the S&P BSE Mid-Cap index added 0.07% while the S&P BSE Small-Cap index gained 0.30%.

The market breadth was strong. On the BSE, 1,653 shares rose and 978 shares fell. A total of 127 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,208.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,430.62 crore in the Indian equity market on 11 January, provisional data showed.

Investors look ahead to the U.S. consumer price index report due later in the day. The December CPI report will inform investors as to whether the Federal Reserve needs to move forward with more aggressive interest rate hikes to tame inflation, or if the central bank can pull back as inflation is showing signs of steadily cooling off.

On the macro front, the Industrial Production and Manufacturing Production data for November will be released today. Inflation rate for December will also be declared today.

Stocks in Spotlight:

Hindustan Unilever (HUL) shed 0.07%. The FMCG major has completed the acquisition of 51% shareholding of Zywie for a total consideration of Rs 264.28 crore for the first tranche. Consequently, Zywie Ventures Private Limited has become a subsidiary of the company.

Route Mobile rallied 3.74% after the company said that it has signed an exclusive SMS firewall solution and connectivity service agreement with a leading Mobile Network Operator (MNO) in Sri Lanka to provide an end-to-end A2P monetization suite for all international A2P SMS' terminating on its network.

Central Bank of India declined 1.14%. The bank has entered into a strategic Co-Lending Partnership with Mamta Projects Private Limited (MPPL) to offer MSME loans to Borrowers at competitive rates. MPPL is a new-age, tech and risk-analytics focused lending institution.

RailTel Corporation of India gained 2.62% after the public sector enterprise received the work order from Department of Revenue and Disaster Management, Government of Puducherry, valued at Rs 170.11 crore.

Global Markets:

Asian stocks were trading mixed as investors look ahead to the U.S. consumer price index report Thursday.

Inflation in China accelerated 1.8% in December compared with a year ago as food prices rose, data from the National Bureau of Statistics showed. The CPI figure was in line with expectations and higher than the previous month's reading of 1.6%.

US stocks ended up sharply on Wednesday as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.