Domestic equity indices extended Tuesday’s losses and opened in red on Wednesday. BSE Sensex fell 138.75 points or 0.23% to 59,976.73 and NSE Nifty dipped 30.15 pts or 0.17% to 17,884.00 in the opening session. Tata Motors, Tata Steel, Tech Mahindra, Infosys and TCS were among the major gainers on Sensex, while Bharti Airtel, Hindustan Unilever, Mahindra & Mahindra, Reliance Industries Ltd, and Axis Bank were the losers. In the broader market, the BSE MidCap and SmallCap indices were trading flat with negative bias.
Tata Motors shares, Reliance Industries stock in focus today
Tata Motors shares rose 1.22% to Rs 418.10 after the company informed bourses that its subsidiary Tata Passenger Electric Mobility has completed the acquisition of Sanand property and the VM plant and machinery of Ford India. Both companies had executed a Unit Transfer Agreement in August 2022 for the acquisition of Ford India’s manufacturing plant at Sanand, Gujarat, for Rs 725.7 crore. On the other hand, Reliance Industries Ltd (RIL) shares fell 1.01% to Rs 2532.10. In a major relief to Reliance Jio, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has stayed the department of telecommunications (DoT’s) demand for Rs 1,300 crore more towards spectrum usage charge (SUC) for the 2016-21 period.
NSE Sectoral Indices
In the sectoral indices, Nifty Bank was down 0.53%, Nifty Pharma was down 0.43%, Nifty PSU Bank was down 1.15% and Nifty Auto was down 0.60% while Nifty IT rose 0.53%, Nifty Metal advanced 0.42%. The volatility index India VIX was up 3.75% at 16.09.
Asian and US stock markets
Asian markets were trading higher today with Hong Kong’s Hang Seng index rising 1.29%, Shanghai Composite in mainland China climbing 0.27%, Japan’s Nikkei225 advanced 1.05% and Soth Korea’s KOSPI increased by 0.20%. Overnight, the US stock market ended the session in green. The S&P 500 rose 27.16 points or 0.70% to 3,919.25, the Nasdaq advanced 106.98 pts or 1.01% to 10,742.63 and the Dow closed 186.45 pts or 0.56% higher at 33,704.10.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 2109.34 crore while domestic institutional investors (DII) bought shares worth a net Rs 1806.62 crore on Tuesday, January 10, 2023, according to the data available on NSE.
NSE F&O Ban
The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to two stocks/securities on Wednesday, January 11, 2023. Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) and Indiabulls Housing Finance are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Wednesday.