Domestic equity indices recovered Wednesday’s losses and opened in green on Thursday. The 30-share BSE benchmark rose 109.56 points or 0.18% to 60,215.06 and the NSE Nifty 50 rose 29.45 points or 0.16% to 17,925.15. The top gainers of the Nifty were HCL Tech, Coal India, Titan, Infosys and Wipro while BPCL, Asian Paint, Divis Lab, Tata Steel and Hindalco were the top losers.
HCL Tech shares, Infosys stock in focus today
HCL Tech shares rose over 1% to Rs 1074.00 ahead of the Q3FY23 earnings announcement on Thursday. According to analysts, consolidated revenue might come in at Rs around Rs 26,000 crore, registering 16% on-year (YoY) growth, while consolidated profit after tax (PAT) is expected to increase 10.6% on-year to around Rs 3,790 crore. Analysts are pegging earnings before interest and tax (EBIT) margin at 18.9% for the quarter. The total contract value is likely to be flat at around $2 billion. On the other hand, Infosys shares fell 1% to Rs 1457.95 ahead of the Q3FY23 results announcement today. The company is likely to report a consolidated net profit jump of 10-14% on-year for the quarter ended 31 December 2022. The IT bellwether is expected to report 19-20% revenue growth for October-December, according to analysts. Brokerages believe that EBIT margins will fall on-year to 21-24%.
Sectoral Indices
In the sectoral indices, Nifty Bank was up 0.10%, Nifty Auto rose 0.35%, Nifty IT was up 0.55%, Nifty PSU Bank was up 0.07% while Nifty Pharma was down 0.16%. The volatility index India VIX was up 0.22%.
Asian and US stock markets
China’s Shanghai composite index fell 7.13 points or 0.23% to 3,154.71 on Thursday, Hong Kong’s Hang Seng dipped 65.10 points or 0.30% to 21,370.95 and Japan’s Nikkei 225 rose 27.15 points or 0.10% to 26,473.15. US stock indices on Wednesday ended broadly in green with Dow Jones Industrial Average (DJIA) rising 268.91 points or 0.80% to 33,973.01, S&P500 climbed 50.36 pts or 1.28% to 3,969.61 and the tech-heavy Nasdaq index advanced 189.04 pts or 1.76% to 10,931.67.
FII and DII data
Foreign institutional investors (FII) net-sold shares worth Rs 3,208.15 crore, while domestic institutional investors (DII) net-bought shares worth Rs 2,430.62 crore on Wednesday, 11 January, according to the provisional data available on the NSE.
NSE F&O Ban
The National Stock Exchange has put Indiabulls Housing Finance and GNFC stocks under its F&O ban list for Thursday, 12 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.