Indian equity indices opened on a negative note on Monday, February 6. The BSE Sensex fell 396.62 pts or 0.65% to 60,445.26 and NSE Nifty 50 slipped 123.25 pts or 0.69% to 17,730.80. The top gainers on Sensex were ITC (up 1.29%), Axis Bank (up 1%), IndusInd Bank (up 0.88%), Titan (up 0.40%) and Larsen & Toubro (up 0.16%) while Tata Steel (down 1.62%), Kotak Bank (down 1.56%), Infosys (down 1.51%), Hindustan Unilever (down 1.38%) and Kotak Bank (down 1.23%) were the top laggards.
SBIN, Vodafone Idea shares in focus today
State Bank of India (SBIN) shares fell 0.57% to Rs 541.35 on profit booking after the bank reported 68.5% on-year growth in standalone profit at Rs 14,205 crore for the December FY23 quarter, with net interest income growing 24% to Rs 38,069 crore for the quarter, beating street estimates. Fall in provisions, higher other income & operating income boosted profitability.
Vodafone Idea shares were locked in the upper circuit, rising 15% to Rs 7.92 after the Government of India directed the telecom operator to convert AGR dues of Rs 16,133 crore into equity shares. The company has been directed by the Ministry of Communications to issue 1,613.31 crore equity shares of the face value of Rs 10 each at an issue price of Rs 10 each.
The sectoral indices were trading mixed. Bank Nifty rose 0.18%, Nifty PSU Bank rose 0.06%, Nifty Private Bank climbed 0.35% and Nifty Media advanced 0.65% while Nifty Auto fell 1.06%, Nifty IT down 0.54%, Nifty Metal and Pharma fell 1.84% and 0.59% respectively.
Asian and US stock markets
Asian markets were trading mostly in red on Monday. China’s Shanghai Composite index fell 21.51 pts or 0.66% to 3,241.90, Hong Kong’s Hang Seng dropped 437.04 or 2.02% to 21,223.43 and South Korea’s KOSPI dipped 15.50 pts or 0.62% to 2,464.90 while Jaopan’s Nikkei 225 rose 297.55 or 1.08% to 27,807.01.
The US equity market closed Friday’s session in the red. The Dow Jones Industrial Average (DJIA) fell 127.93 or 0.38% to 33,926.01, S&P 500 dropped 43.28 pts or 1.04% to 4,136.48 and the Nasdaq Composite index dipped 193.86 pts or 1.59% to 12,006.95.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 932.44 crore while domestic institutional investors (DII) bought shares worth a net Rs 1264.74 crore on Friday, February 3, 2023, according to the data available on NSE. For the month till February 5, FIIs sold shares worth a net Rs 2,212.58 while DIIs bought shares worth a net Rs 4,165.57 crore.
NSE F&O Ban
Adani Ports is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, February 6. During the F&O ban period, no new positions are permitted for F&O contracts in that stock.