Nifty hovers near the 18,150 mark; auto shares in demand.

STREET INVESTMENT

The key equity benchmarks extended gains and hit fresh intraday high in morning trade. The Nifty traded tad below the 18,150 level. Auto shares witnessed some bit of bargain buying after declining in the past three sessions.

The barometer index, the S&P BSE Sensex, was up 439.17 points or 0.72% to 61,060.94. The Nifty 50 index added 116.50 points or 0.65% to 18,144.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.19% while the S&P BSE Small-Cap index shed 0.09%.

The market breadth turned positive. On the BSE, 1,796 shares rose, and 1,486 shares fell. A total of 187 shares were unchanged.

Results Today:

Axis Bank (up 0.33%), Canara Bank (up 0.39%), IDBI Bank (up 0.46%), Jindal Stainless (down 1.66%), Tata Communications (up 2.17%), Jindal Stainless (Hisar) (down 2.12%), Container Corporation of India (down 1.01%), KEI Industries (up 0.59%), Shoppers Stop (down 1.58%), Amber Enterprises India (up 1.04%), Gland Pharma (up 0.70%), Syngene International (up 0.02%), Poonawalla Fincorp (up 1.03%), Supreme Petrochem (up 1.72%) and HFCL (up 0.49%) are some of the companies that will announce their quarterly earnings today.

Buzzing Index:

The Nifty Auto index rose 1.08% to 12,828.55. The index had declined 1.02% in the past three sessions.

Mahindra & Mahindra (up 1.7%), Eicher Motors (up 1.64%), Hero MotoCorp (up 1.64%), Tata Motors (up 1.48%) and Sona BLW Precision Forgings (up 1.36%) were the top gainers.

Among the other gainers were Ashok Leyland (up 0.97%), Bharat Forge (up 0.92%), Balkrishna Industries (up 0.91%), Bajaj Auto (up 0.91%) and Samvardhana Motherson International (up 0.75%).

Stocks in Spotlight:

LTIMindtree gained 0.26%. The L&T Group company has reported 15.82% decline in consolidated net profit to Rs 1,000.5 crore despite of 4.77% increase in revenue to Rs 8,620 crore in Q3 FY23 over Q2 FY23.

JSW Steel fell 1.70%. The steel maker has reported 90% drop in consolidated net profit to Rs 474 crore in Q3 FY23 from Rs 4,516 crore in Q3 FY22. Revenue from operations rose by 3% YoY to Rs 39,134 crore during the quarter.

RBL Bank rose 0.88%. The private sector bank has reported 34% rise in net profit to Rs 209 crore on a 14% increase in total income to Rs 2,987 crore in Q3 FY23 over Q3 FY22.

Camlin Fine Sciences added 2.52%. The company said that it has commenced commercial production at its composite vanillin manufacturing unit situated at Dahej in Gujarat.

Indices trade with decent gains; market breadth remains strong.

STREET INVESTMENT

The domestic equity barometers traded with decent gains in early trade as the bourses witnessed significant buying in key index pivotals. The Nifty traded tad below the 18,100 level. Barring consumer durables and select metal stocks, shares across sectors advanced with banks, financials and autos rising the most.

The barometer index, the S&P BSE Sensex, was up 246.06 points or 0.41% to 60,867.83. The Nifty 50 index added 69.15 points or 0.38% to 18,096.80.

Tata Motors (up 1.60%), Hindalco (up 1.45%), IndusInd Bank (up 1.19%), UPL (up 1.08%) and SBI (up 1.03%) were the top Nifty gainers.

Bajaj Finserv (down 0.69%), NTPC (down 0.47%), Asian Paints (down 0.39%), Dr Reddy's Lab (down 0.39%) and Tata Consumer (down 0.30%) were the top Nifty losers.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% while the S&P BSE Small-Cap index gained 0.15%.

The market breadth was positive. On the BSE, 1,583 shares rose, and 1,054 shares fell. A total of 167 shares were unchanged.

Stocks in Spotlight:

Reliance Industries (RIL) was up 0.02%. On a consolidated basis, net profit of RIL declined 2.8% to Rs 15,792 crore on 17.4% increase in net sales to Rs 2,17,164 crore in Q3 December 2022 over Q3 December 2021. RIL reported exceptional income of Rs 2,836 crore in Q3 December 2021.

ICICI Bank added 0.30%. The bank has reported net interest income of Rs 16465 crore in Q3 FY23 from Rs 12236 crore in Q3 FY22. Profit after tax rose to Rs 8312 crore from Rs 6194 crore.

Kotak Mahindra Bank advanced 0.95%. The bank has reported net total income of Rs 7,753 crore in Q3 FY23 from Rs 5698 crore in Q3 FY22. Profit after tax rose to Rs 2,792 crore from Rs 2131 crore.

UltraTech Cement fell 1.02%. The cement maker has reported consolidated profit after tax of Rs 1058 crore in Q3 FY23 from Rs 1173 crore in Q3 FY22. Net sales rose to Rs 15299 crore in Q3 FY23 from Rs 12710 crore in Q3 FY22.

Global markets:

Asian stocks are trading higher on Monday as technology stocks tracked Wall Street's strong finish last week and firm crude oil prices lifted energy stocks.

US stocks rallied to close higher on Friday as quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts.

Indices end with minor cuts; Nifty settles below 18,050.

STREET INVESTMENT

The domestic equity benchmarks ended near the day's low with modest losses on Friday. The Nifty closed below the 18,050 mark after hitting the day's high of 18,145.45 in mid-morning trade. Banking and financial services stocks advanced while media, consumer durables and FMCG shares were under pressure.

As per provisional closing data, the barometer index, the S&P BSE Sensex shed 236.66 points or 0.39% to 60,621.77. The Nifty 50 index declined 80.20 points or 0.44% to 18,027.65.

In the broader market, the S&P BSE Mid-Cap index fell 0.66% while the S&P BSE Small-Cap index shed 0.50%.

The market breadth was negative. On the BSE, 1,570 shares rose, and 1,916 shares fell. A total of 153 shares were unchanged.

Investor sentiment remained negative after the US reported lower-than-expected weekly unemployment claims, a sign of a robust labour market. This might result in the Fed maintaining its aggressive rate hike policy, increasing the likelihood that the world's largest economy would experience a recession.

Earnings Impact:

Hindustan Unilever fell 3.74%. The FMCG major reported 12% rise in standalone net profit to Rs 2,505 crore on a 16% increase in turnover to Rs 14,986 crore in Q3 FY23 over Q3 FY22.

The company's board approved the proposal to enter a new arrangement wherein it will now be paying royalty and central services fees to Unilever Group at 3.45% of turnover, up from 2.65% in FY22. This increase will be affected in a staggered manner over a period of 3 years, the company said.

Hindustan Zinc tumbled 6.42% after the mining company's consolidated net profit slipped 20.2% to Rs 2,156 crore from Rs 2,701 crore recorded in Q3 FY22. Revenue from operations during the quarter was Rs 7,866 crore, down 1.6% year on year (YoY), on account of lower LME coinciding with lower refined metal and silver volumes partially offset by favourable exchange rates and gains from strategic hedging.

HDFC Life Insurance Company shed 2.41%. The company reported 15.19% increase in standalone net profit to Rs 315.22 crore in Q3 FY23 as against Rs 273.65 crore posted in Q3 FY22. The life insurer's net premium income jumped 18.6% to Rs 14,379.38 crore in quarter ended 31 December 2022 as compared with Rs 12,124.36 crore recorded in Q3 FY22

Coforge jumped 3.37% after the company reported 13.5% rise in consolidated net profit to Rs 228.2 crore on a 4.9% increase in gross revenues to Rs 2,055.8 crore in Q3 FY23 over Q2 FY23.

L&T Technology Services (LTTS) slipped 4.81%. The company reported a 7.51% rise in consolidated net profit to Rs 303.60 crore on 2.68% increase in revenue from operations to Rs 2,048.60 crore in Q3 FY23 over Q2 FY22.

IndiaMART InterMESH rose 1.48% after the company's consolidated net profit jumped 61% to Rs 113 crore on 34% rise in net sales to Rs 251 crore in Q3 December 2022 over Q3 December 2021.

AU Small Finance Bank shed 0.68%. The bank reported 30% jump in net profit to Rs 393 crore on a 41% rise in net interest income to Rs 1,153 crore in Q3 FY23 over Q3 FY22. Net interest margin (NIM) for the quarter was stable at 6.2%. Total income increased by 36% YoY to Rs 2,413 crore in Q3 FY23.

Union Bank of India skid 0.55%. The bank reported a net profit of Rs 2,245 crore in Q3 FY23, which is significantly higher as compared with a net profit of Rs 1,085 crore recorded in the same period last year. Total income during the quarter increased 24% YoY to Rs 24,154 crore.

Mphasis slipped 2.25% after the IT reported 1.5% fall in consolidated net profit to Rs 412.3 crore on a 0.4% declin in revenue from operations to Rs 3,506.2 crore in Q3 FY23 over Q2 FY23.

Global Markets:

Stocks in Europe and Asian advanced on Friday as investors digested Japan's inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981. The reading climbed from the inflation print of 3.7% seen in November.

The People's Bank of China left the loan prime rates for 1-year and 5-year unchanged, widely in line with expectations. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, both unchanged since August, 2022.

US stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation.

Boston Federal Reserve President Susan Collins said Thursday that she thinks the central bank can enact smaller interest rate hikes after a series of aggressive moves last year. Collins said she is “reasonably optimistic that there is a pathway to reducing inflation without a significant economic downturn.”

Market at day's low; Sensex down 168 pts; Nifty below 18,050.

The key equity indices traded near the day's low with significant cuts in mid-afternoon trade. The Nifty traded below the 18,050 mark after hitting the day's high of 18,145.45 in mid-morning trade. Bank, financial services and oil & gas stocks edged higher, while media, FMCG and consumer durables shares were under pressure.

The barometer index, the S&P BSE Sensex, was down 168.15 points or 0.28% to 60,690.28. The Nifty 50 index declined 64 points or 0.35% to 18,043.85.

In the broader market, the S&P BSE Mid-Cap index fell 0.55% while the S&P BSE Small-Cap index shed 0.42%.

The market breadth turned negative. On the BSE, 1,565 shares rose, and 1,891 shares fell. A total of 157 shares were unchanged.

Investor sentiment remained negative after the US reported lower-than-expected weekly unemployment claims, a sign of a robust labour market. This might result in the Fed maintaining its aggressive rate hike policy, increasing the likelihood that the world's largest economy would experience a recession.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined to 7.348 from its close of 7.313 recorded in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.13, compared with its close of 81.36 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement added 0.39% to Rs 56,764.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.03% to 102.09.

The United States 10-year bond yield gained 0.46% to 3.415.

In the commodities market, Brent crude for March 2023 settlement rose 67 cents or 0.78% to $86.83 a barrel.

Buzzing Index:

The Nifty Media index fell 1.40% to 1,887.60. The index declined 2.40% in two trading sessions.

Among the components of the Nifty Media index, Inox Leisure (down 3.55%), PVR (down 3.36%), Network 18 Media & Investments (down 1.37%), Sun TV Network (down 0.72%), Navneet Education (down 0.47%) and Zee Entertainment Enterprises (down 0.13%) declined.

Stocks in Spotlight:

Jubilant FoodWorks (JFL) rose 0.33%. The QSR chain operator on Thursday announced that it has planned Rs 900 crore Capex which will be funded entirely through internal accruals over a period of 12-18 months.

Aether Industries advacned 2.90% after the specialty chemicals maker reported 37.94% surge in consolidated net profit to Rs 35.04 crore on 10.48% increase in revenue from operations to Rs 167.13 crore in Q3 FY23 over Q3 FY22.

GPT Infraprojects zoomed 5.48% after the company announced that it has bagged an order valued at Rs 270 crore from Bridge & Roof Company (India), a Kolkata-based Government of India enterprise.

Benchmarks trade flat; realty shares fall for 2nd day.

STREET INVESTMENT

The domestic equity barometers traded flat in early afternoon trade. The Nifty traded tad above the 18,100 level. Realty stocks declined for second day in a row.

The barometer index, the S&P BSE Sensex, was down 2.03 points to 60,856.40. The Nifty 50 index added 1 point or 0.01% to 18,108.85.

In the broader market, the S&P BSE Mid-Cap index fell 0.17% while the S&P BSE Small-Cap index shed 0.03%.

The market breadth was positive. On the BSE, 1781 shares rose, and 1590 shares fell. A total of 163 shares were unchanged.

Investor sentiment remained negative after the US reported lower-than-expected weekly unemployment claims, a sign of a robust labour market. This might result in the Fed maintaining its aggressive rate hike policy, increasing the likelihood that the world's largest economy would experience a recession.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.70% to 13.58. The Nifty 25 January 2022 futures were trading at 18,127.15, at a premium of 18.3 points as compared with the spot at 18,108.85.

The Nifty option chain for the 25 January 2022 expiry showed maximum Call OI of 133.3 lakh contracts at the 18,100 strike price. Maximum Put OI of 126.8 lakh contracts were seen at 18,100 strike price.

Buzzing Index:

The Nifty Realty index lost 0.48% to 428.50. The index has declined 0.57% in two sessions.

Godrej Properties (down 0.9%), DLF (down 0.77%), Oberoi Realty (down 0.64%), Prestige Estates Projects (down 0.64%) and Indiabulls Real Estate (down 0.59%) were the top losers.

Among the other losers were Phoenix Mills (down 0.49%), Sunteck Realty (down 0.2%) and Brigade Enterprises (down 0.18%).

Stocks in Spotlight:

Bata India shed 0.82%. The footwear major on Thursday announced that its board of directors has appointed Anil Somani as the chief financial officer (CFO) and key managerial personnel (KMP) of the company.

Mphasis slipped 1.41%. The IT reported 1.5% fall in consolidated net profit to Rs 412.3 crore on a 0.4% declin in revenue from operations to Rs 3,506.2 crore in Q3 FY23 over Q2 FY23.

Sterling and Wilson Renewable Energy rose 3.83%. The company reported a consolidated net loss of Rs 101.24 crore in Q3 FY23 as against a net loss of Rs 422.41 crore posted in Q3 FY22. Revenue from operations slumped 72.8% to Rs 406.96 crore in the quarter ended 31 December 2022 from Rs 1,494.86 crore recorded in Q3 FY22.

Nifty hovers above 18,100; Sensex adds 79 pts.

STREET INVESTMENT

The key equity benchmarks traded near the flat line with tiny gains in mid-morning trade. Positive Asian cues and strong FII buying boosted the investors sentiment. The Nifty hovered above the 18,100 level. Consumer durable shares declined for the second day in a row.

The barometer index, the S&P BSE Sensex, was up 48.05 points or 0.08% to 60,906.48. The Nifty 50 index added 7.20 points or 0.04% to 18,115.05.

In the broader market, the S&P BSE Mid-Cap index fell 0.05% while the S&P BSE Small-Cap index gained 0.12%.

The market breadth was positive. On the BSE, 1,860 shares rose, and 1,459 shares fell. A total of 149 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 399.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 128.96 crore in the Indian equity market on 19 January, provisional data showed.

Buzzing Index:

The Nifty Consumer Durables index fell 0.78% to 24,423. The index declined 1.40% in the two trading sessions.

Havells India (down 3.53%), Relaxo Footwears (down 2.09%), Voltas (down 0.71%), Bata India (down 0.65%), Rajesh Exports (down 0.64%), Dixon Technologies (India) (down 0.63%), Whirlpool of India (down 0.3%), Kajaria Ceramics (down 0.26%), Orient Electric (down 0.19%) and Titan Company (down 0.12%) slipped.

Stocks in Spotlight:

Hindustan Zinc tumbled 6.93% after the mining company's consolidated net profit slipped 20.2% to Rs 2,156 crore from Rs 2,701 crore recorded in Q3 FY22. Sequentially, the net profit declined 19.6% on account of lower EBITDA partly offset by lower tax expense.

Coforge jumped 6.05% after the company reported 13.5% rise in consolidated net profit to Rs 228.2 crore on a 4.9% increase in gross revenues to Rs 2,055.8 crore in Q3 FY23 over Q2 FY23.

L&T Technology Services (LTTS) declined 2.69%. The company reported a 7.51% rise in consolidated net profit to Rs 303.60 crore on 2.68% increase in revenue from operations to Rs 2,048.60 crore in Q3 FY23 over Q2 FY22.

Global markets:

Asian stocks advanced on Friday as investors digested Japan's inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981. The reading climbed from the inflation print of 3.7% seen in November.

The People's Bank of China left the loan prime rates for 1-year and 5-year unchanged, widely in line with expectations. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, both unchanged since August, 2022.

US stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation.

Boston Federal Reserve President Susan Collins said Thursday that she thinks the central bank can enact smaller interest rate hikes after a series of aggressive moves last year. Collins said she is “reasonably optimistic that there is a pathway to reducing inflation without a significant economic downturn.”

Barometers trade with tiny cuts; breadth positive.

STREET INVESTMENT

The key equity indices were trading with small losses in early trade. The Nifty traded below the 18,100 level. Banking and financial services shares advanced while consumer durables, pharma and health care stocks declined.

The barometer index, the S&P BSE Sensex, was down 38.91 points or 0.06% to 60,819.52 The Nifty 50 index lost 16.10 points or 0.09% to 18,091.75.

In the broader market, the S&P BSE Mid-Cap index fell 0.16% while the S&P BSE Small-Cap index gained 0.06%.

The market breadth was positive. On the BSE, 1,544 shares rose, and 1,065 shares fell. A total of 146 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 399.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 128.96 crore in the Indian equity market on 19 January, provisional data showed.

Stocks in Spotlight:

Hindustan Unilever (HUL) shed 1.90%. The FMCG major reported 12% rise in standalone net profit to Rs 2,505 crore on a 16% increase in turnover to Rs 14,986 crore in Q3 FY23 over Q3 FY22.

The board of directors of HUL approved the proposal to enter a new arrangement with Unilever group entities for the provision of technology, trademark licenses and services to HUL. In the new agreement, the royalty and central services fees will increase from 2.65% (FY22) to 3.45% of turnover. This increase will be effected in a staggered manner over a period of 3 years.

L&T Technology Services (LTTS) slipped 3.15%. The company reported 7.5% rise in consolidated net income to Rs 303.6 crore on a 2.7% increase in revenue to Rs 2048.6 crore in Q3 FY23 over Q2 FY23.

Bharat Heavy Electricals (Bhel) rose 1.19%. Bhel said that it has won an order for the renovation & modernisation (R&M) of steam turbines at Ukai Thermal Power Station (TPS) in Gujarat. Valued at about Rs 300 crore, the order for R&M of the 200 MW Unit-3 and the 210 MW Unit-5, has been placed on Bhel by Gujarat State Electricity Corporation.

Global markets:

Asian stocks are trading mostly higher on Friday as investors digested Japan's inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981. The reading climbed from the inflation print of 3.7% seen in November.

The People's Bank of China left the loan prime rates for 1-year and 5-year unchanged, widely in line with expectations. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, both unchanged since August, 2022.

US stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation.

Boston Federal Reserve President Susan Collins said Thursday that she thinks the central bank can enact smaller interest rate hikes after a series of aggressive moves last year. Collins said she is “reasonably optimistic that there is a pathway to reducing inflation without a significant economic downturn.”