Indian equity indices extended Friday’s gains and opened in green on Monday, January 16. The 30-share BSE benchmark rose 260.42 points or 0.43% to 60,521.60 and the NSE Nifty 50 rose 80.05 points or 0.45% to 18,036.65. The top gainers of the Nifty were HDFC Bank, Bajaj Finserv, IndusInd Bank, Bajaj Finance and HDFC Life while JSW Steel, BPCL, ONGC, Coal India and Larsen & Toubro were the top losers.
HDFC Bank shares, Avenue Supermarts (DMart) stock in focus today
HDFC Bank shares rose over 1% to Rs 1,617 after the private lender reported a 19.9% jump in its consolidated net profit for the quarter ended December 2022. Beating market estimates, it reported a net profit of Rs 12,698 crore. The bank’s December quarter net revenue grew by 18.3% to Rs 31,488 crore from Rs 26,627 crore last year. On the other hand, Avenue Supermarts shares, the operator of DMart, fell over 6% to Rs 3627.00 after its quarterly report missed market estimates. The company reported 6.7% on-year growth in consolidated profit at Rs 589.7 crore for the quarter ended December FY23 despite a healthy topline, impacted by weak operating margin performance. Revenue from operations grew by 25.5% on-year to Rs 11,569 crore during the quarter, while EBITDA increased by 11.4% to Rs 965.3 crore but margin fell 110 bps on-year to 8.3% for the quarter dented by higher input cost.
Sectoral Indices
In the sectoral indices, Nifty Bank was up 0.33%, Nifty Pharma rose 0.20%, Nifty IT was up 0.14%, Nifty PSU Bank was up 1.09% while Nifty Auto was down 0.47%. The volatility index India VIX was up 4.33%.
Asian and US stock markets
China’s Shanghai composite index rose 46.04 points or 1.44% to 3,241.35 on Monday, Hong Kong’s Hang Seng climbed 142.63 points or 0.66% to 21,881.29 while Japan’s Nikkei 225 fell 316.08 points or 1.21% to 25,803.44. US stock indices on Friday ended marginally in green with Dow Jones Industrial Average (DJIA) rising 112.64 points or 0.33% to 34,302.61, S&P500 climbed 15.92 pts or 0.40% to 3,999.09 and the tech-heavy Nasdaq index advanced 78.05 pts or 0.41% to 11,079.16.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 2422.39 crore while domestic institutional investors (DII) bought shares worth a net Rs 1953.4 crore on Friday, January 13, 2023, according to the data available on NSE.
NSE F&O Ban
The National Stock Exchange has put Indiabulls Housing Finance and GNFC stocks under its F&O ban list for Monday, 16 January. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in these stocks.