Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended higher amid mixed global cues. Nifty 50 closed at 18,055 levels, up 160 points or 0.9%, whereas the S&P BSE Sensex closed at 60,655 levels, up 562 points or 0.9%. On the sectoral front, oil & gas, realty, energy, infra, power, capital goods and FMCG gained 1% each, while PSU bank index shed 2%. In the broader markets, BSE midcap and smallcap indices ended flat. L&T, HUL, HDFC, HCL Technologies and HDFC Bank were among the top gainers on the Nifty, while SBI, IndusInd Bank, Bajaj Finserv, Wipro and Bajaj Finance were the losers.
Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News 17 January 2023
L&T, HUL, HDFC, HCL Technologies and HDFC Bank were among the top gainers on the Nifty, while SBI, IndusInd Bank, Bajaj Finserv, Wipro and Bajaj Finance were the losers.
Indian benchmark indices ended higher amid mixed global cues. BSE Sensex soared 500 pts and Nifty ended above 18,050. On the sectoral front, oil & gas, realty, energy, infra, power, capital goods and FMCG gained 1% each, while PSU bank index shed 2%. In the broader markets, BSE midcap and smallcap indices ended flat.
Pharmaceutical companies Innova Captab and Blue Jet Healthcare have received approval from the capital markets regulator to go ahead with their IPO plans.
The Innova Captab public issue comprises a fresh issue of Rs 400 crore and an offer-for-sale of 96 lakh equity shares by promoters. Another CDMO business operator Blue Jet Healthcare is also now ready to launch its public issue that comprises only an offer for sale of 2.16 crore equity shares by promoters Akshay Bansarilal Arora, and Shiven Akshay Arora. It is 100 percent owned by promoters.
Bank of India's Q3 net profit rises 12% on-year to Rs 1,151 cr on improvement in NIM. In a filing with BSE, BoI said its net interest income (NII) was up 64% on-year in Q3 to Rs 5,596 crore. Sequentially, NII rose from Rs 5,083 crore in Q2FY23. Its Net Interest Margin (NIM) improved to 3.28% in Q3 from 2.27% in Q3FY22. Sequentially, NIM rose from 3.04% in Q2FY23.
Benchmark indices were trading near the day's high with Nifty above 18,000.
The Sensex was up 492.60 points or 0.82% at 60,585.57, and the Nifty was up 137.60 points or 0.77% at 18,032.40.
Tata group company Tinplate recorded a 62% on-year decline in profit at Rs 36.4 crore for the quarter ended December FY23, impacted by lower top line and operating income. Revenue from operations for the quarter at Rs 959.9 crore fell by nearly 19% compared to year-ago period.
Federal Bank shares declined 5% on profit booking post strong Q3FY23. The healthy profit growth mainly led by robust credit growth, sharp margin uptick, and continued lower LLP, were partly offset by higher staff costs due to ad hoc provisions for wage revision.
Edelweiss Financial Services announced that the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been oversubscribed. The Tranche I Issue has seen a considerable subscription in the Retail segment with a total collection of Rs 2,560.76 million as against the reserved portion of Rs 800 million on the Base Issue Size. The Tranche I Issue saw good interest from its existing NCD investors.
Blue Jet Healthcare, a specialty pharmaceutical and healthcare ingredient and intermediate company, has received final observation from Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The public issue is a complete offer-for-sale (OFS) of up to 21,683,178 equity shares by Promoter and selling shareholders. Kotak Mahindra Capital Company Limited, ICICI Securities Limited and J.P. Morgan India Private Limited are the books running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
Oil prices were mixed on Tuesday after China posted its weakest annual economic growth in nearly half a century, with its late-2022 U-turn in COVID-19 policy underpinning hopes of a recovery in the country's fuel demand this year.
Brent crude futures edged up by 7 cents, or 0.1%, to $84.52 by 0727 GMT, recouping some of the 1% loss in the previous session. U.S. West Texas Intermediate (WTI) crude futures slid 73 cents, or 0.9%, to $79.15 from Friday's close. There was no settlement on Monday because of the U.S. public holiday for Martin Luther King Day.
London is set to open flat with FTSE futures up 0.02% at 0512 GMT. E-mini futures for the S&P 500 index were down 0.31% however, indicating a lower opening after Monday's public holiday.
Asian share losses widened on Tuesday after China reported weak fourth-quarter economic data, although investor expectations for a strong rebound in the country remained high even as concerns increase that the global economy is heading for a recession. MSCI's gauge of Asia Pacific stocks outside Japan increased its losses to stand down 0.65% at 0535 GMT. Hong Kong's Hang Seng Index dropped 1.22% and China's benchmark CSI300 Index slid 0.27% following the China data and as invesotrs sold gains ahead of the Lunar New Year holiday starting on Jan. 21. China's economy grew 2.9% in the fourth quarter of 2022 from a year earlier, National Bureau of Statistics data showed on Tuesday, beating expectations but still underlining the toll exacted by a stringent “zero-COVID” policy.
Angel One has reported a 38.6% on-year growth in consolidated profit at Rs 228 crore for quarter ended December FY23, supported by topline as well as operating income. Consolidated revenue from operations grew by 20.3% on-year to Rs 718.5 crore. The company has declared third interim dividend at Rs 9.6 per share for FY23.
Morgan Stanley Asia Singapore Pte bought 1.98 lakh shares in the Tata Steel subsidiary, Tata Metaliks, via open market transactions. These shares are acquired at an average price of Rs 834.67 per share. Tata Metaliks stock was quoting at Rs 834.25, down Rs 0.50, or 0.06% on BSE.
Benchmark indices trading higher amid mixed global cues. Sensex is up 0.72% at 60524.10, and the Nifty is trading above 18011.
Nifty Metal index shed 0.3% dragged by SAIL, Adani Enterprises, Jindal Stainless
NTPC gains 1% as it signs an MoU with Tripura govt to develop renewable energy projects
Reliance Industries (RIL) and ONGC shares gained up to 0.85 per cent after the government announced a cut in its windfall tax on crude to Rs 1,900 ($23.28) per tonne from Rs 2,100 per tonne, effective Tuesday.
Siemens share price jumped 3% in the early trade after the company bagged an order from the ministry of railways to manufacture electric freight locomotives.
Siemens has received an order for 1,200 locomotives of 9000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and single largest order in the history of Siemens in India, company said in its release. The company will design, manufacture, commission and test the locomotives. The contract has a total value of Rs 26,000 crore (approximately), excluding taxes and price variation.
Nifty PSU Bank, Nifty IT, Nifty FMCG indices start on a positive note.
HUL, Grasim Industries, Larsen and Toubro, HCL Technologies and Reliance Industries were among major gainers on the Nifty, while Hindalco Industries, Adani Enterprises, Titan Company, Tata Steel and Tata Consumer Products were the losers.
Benchmark indices opened marginally higher amid mixed global cues. Sensex is up 24 points or 0.04% at 60117.15, and the Nifty is trading flat at 17907.
“Markets are likely to wobble in early trades Tuesday, tracking mild volatility in SGX Nifty and other Asian peers. Investors may trade with caution due to lack of directional cues from the US markets, which was closed on Monday. The negative takeaway is that Nifty has got off to an uninspiring start in 2023 and has underperformed Wall Street significantly. Nifty is down 1.16% while Dow Jones is up 3.49%. Another negative catalyst which is seen haunting the markets are FIIs relentless selling. Foreign institutional investors this month have sold to the tune of Rs 18,170 crores. The technical landscape can improve and bulls will be on the right footing only above the 18,265 mark.”-Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Adani Enterprises, the flagship of the Adani Group, has filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer. It might launch the public issue in the last week of January. The company might give a discount to retail investors. The stock has rallied as much as 94% in the past one year and an astronomical 1,760% in the past five years.
Benchmark indices are trading higher in the pre-opening session. Sensex is up 88.18 points or 0.15% at 60181.15, and the Nifty is up 75.50 points or 0.42% at 17970.30.
“The dominant trend impacting the near-term texture of the market is the sustained selling by FIIs for the eleventh time this month. There is selling even in bluechip names like HDFC Bank, that too, after impressive Q3 results. The simple logic behind sustained FII selling is that India is the only large market where FIIs are still sitting on good profits after the disastrous 2022 performance in most global markets. FIIs are playing it safe by moving money to cheaper markets where there is valuation comfort. The sustained FII selling has turned the near-term structure of the market weak. The best investment strategy in the present weak market would be to systematically buy high quality large-caps in performing sectors like banking, capital goods, telecom and construction-related segments. Soon, India’s strong fundamentals will bring cheer to the market.”- VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Oil prices fell in early trade on Tuesday as recession fears dominated headlines out of the World Economic Forum's meeting in Davos, draining optimism that stoked the market last week on prospects of a fuel demand recovery in top oil importer China.
Brent crude futures were down 38 cents, or 0.5%, at $84.08 at 0114 GMT, extending a 1% loss in the previous session. U.S. West Texas Intermediate (WTI) crude futures slid $1.16, or 1.5%, to $78.70 from Friday's close. There was no settlement on Monday due to a U.S. holiday for Martin Luther King Day.
“The Nifty has been witnessing short-term consolidation for the past few weeks. In terms of price patterns, the index has formed a triangle on the daily chart. Towards the end of the last week, the Nifty formed a base near the lower end of the pattern.
Consequently, the index took a leap on the upside & opened gap-up on January 16 but stumbled near the upper end of the pattern. Till the time the index trades above 17,800 on a closing basis, the pattern is eventually expected to break out on the upside. The Nifty will be set for a larger bounce once it crosses the near-term barrier of 18,050.”-Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
In the latest Chief Economists’ Outlook, the World Economic Forum (WEF) spoke to leading economists to find out their views on likely headwinds that businesses may face in 2023 and sought their advice on how to best tackle such economic turbulences. The WEF report has found that the outlook for the global economy is “gloomy, with almost one in five respondents now considering a global recession to be extremely likely in 2023, more than twice as many as in the previous survey in September 2022”, the forum said.
Bank of India, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Delta Corp, Eris Lifesciences, Hathway Cable & Datacom, Mastek, Metro Brands, Network18 Media & Investments, TV18 Broadcast, Newgen Software Technologies, Shalby, Tata Investment Corporation, and Tata Metaliks will announce their quarterly earnings on Tuesday, 17 January.
The government has cut windfall tax on crude oil and exports of aviation turbine fuel (ATF) and diesel, according to a government notification dated 16 January. It cut its windfall tax on crude to Rs 1,900 ($23.28) per tonne from Rs 2,100 per tonne earlier, effective Tuesday. The government also cut export tax on ATF to Rs 3.5 per litre from Rs 4.5 per litre, and cut export tax on diesel to Rs 5 per litre from Rs 6.5 per litre, the notification said.
The National Stock Exchange has added L&T Finance Holdings and retained Indiabulls Housing Finance and GNFC under its F&O ban list for 17 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 that stock.
Foreign institutional investors (FIIs) net sold shares worth Rs 750.59 crore, continuing selling for the 17th consecutive session. Meanwhile, domestic institutional investors (DIIs) net bought shares worth Rs 685.96 crore on 16 January, according to the provisional data available on the NSE.
“A long negative candle was formed on the daily charts at the highs, which indicates a counterattack of bulls after the upside bounce of Friday. But, the market is currently moving in a narrow range hence, the predictive value of Monday’s pattern could be less. The short-term trend of Nifty continues to be range bound and the market has shifted into a squeeze type formation of a triangle. Having declined from the upper end of a triangle at 18050-18100 levels on Monday, one may expect further consolidation or upside bounce from the lows in the coming sessions. A decisive move beyond 18100-18150 levels or 17750 levels could confirm breakout in the market on either side,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Asia-Pacific markets traded mixed Tuesday as investors await a slew of Chinese economic data. The Shenzhen Component rose 0.2% and the Shanghai Composite was slightly below the flatline. Hong Kong’s Hang Seng index fell 0.24%, and Japan’s Nikkei 225 rose 1.05%, leading gains in the region. South Korea’s Kospi fell 0.26% and the Kosdaq shed 0.2%. Meanwhile, US stock futures were lower despite the market coming off a winning week. Futures tied to the Dow dipped 0.1%. S&P 500 and Nasdaq-100 futures fell 0.2% and 0.4%, respectively.