Domestic indices were trading broadly in green in the opening trade on Wednesday as investors waited for the Budget announcement which is scheduled to be presented today by Finance Minister Nirmala Sitharaman. The BSE Sensex rose 539.99 points or 0.91% to 60,089.89 and the Nifty 50 gained 143.70 pts or 0.81% to 17,805.85. The top gainers of Sensex were ICICI Bank (up 2.34%), Tata Steel (up 1.71%), Tech Mahindra (up 1.26%), Power Grid (up 1.13%) and Asian Paints (up 1.10%) while Sun Pharma (down 1.92%), Mahindra & Mahindra (down 1.01%), ITC (down 0.61%), IndusInd Bank (down 0.42%) and Tata Motors (down 0.27%) were the top laggards.
Coal India shares, ACC stock in focus today
Coal India shares fell over half a percent to Rs 223.70 after the country’s largest coal mining company recorded profit at Rs 7,719 crore for the quarter ended in December FY23, rising 69% on-year on the back of higher add-on over the notified price in e-auction sale of 14.65 million tonnes (MTs) coal during the quarter. Consolidated revenue grew by 24% on-year to Rs 35,169 crore for the quarter with strong realisation.
ACC shares fell 1% to Rs 1950.00 after the Adani Group company, posted a 59.7% fall in consolidated net profit to Rs 113.19 crore for the quarter ended December, impacted by higher fuel and raw material costs. It posted a net profit of Rs 280.85 crore a year ago.
The sectoral indices were trading broadly higher. Bank Nifty rose 0.95%, Nifty FMCG rose 0.38%, Nifty IT climbed 0.37%, Nifty Pharma up 0.54%, Nifty Auto up 0.17% while Nifty Oil & Gas down 1.09%, Nifty PSU Bank and Media fell 0.56% and 0.11% respectively.
Asian and US stock markets
Asian markets were trading in the green on Tuesday. China’s Shanghai Composite index rose 3.26 pts or 0.10% to 3,258.93, Japan’s Nikkei 225 climbed 8.56 pts or 0.03% to 27,335.67 and Hong Kong’s Hang Seng rose 60.02 or 0.27% to 21,902.35.
US Markets concluded the overnight session in green. The Dow Jones Industrial Average rose 368.95 points or 1.09% to 34,086.04, S&P 500 climbed 58.83 pts or 1.46% to 4,076.60 and Nasdaq advanced 190.74 pts or 1.67% to 11,584.55.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 5439.64 crore while domestic institutional investors (DII) bought shares worth a net Rs 4506.31 crore on Tuesday, January 31, 2023, according to the data available on NSE.
NSE F&O Ban
Ambuja Cements is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Wednesday, February 1.