Indian equity indices opened in green on Tuesday. The Nifty opened above the crucial 18,150 level and Sensex above 61,100. The NSE Nifty 50 rose 48.20 points or 0.27% to 18,166.75 and the 30-share BSE Sensex climbed 200.51 pts 0.33% to 61,142.18. The top gainers of Sensex were Tata Motors (up 1.55%), HDFC Bank (up 1.34%), IndusInd Bank (up 1.22%), Bajaj Finserv (up 1.18%) and Infosys (up 1.10%) while Axis Bank (down 0.92%), Power Grid (down 0.64%), UltraTech Cement (down 0.51%), Bharti Airtel(down 0.38%) and Hindustan Unilever Ltd (HUL) (down 0.30%).

Axis Bank shares, Maruti Suzuki stock in focus today

Axis Bank shares fell 1.27% to Rs 921.50 on profit booking after the bank reported a net profit of Rs 5,853 crore for the quarter ended December 31, higher by 62% on-year. Net interest income (NII) grew 32% to Rs 11,459 crore while the net interest margin (NIM) stood at 4.26% as of December 31, up 73 bps on-year.

Maruti Suzuki shares, on the other hand, rose 0.56% to Rs 8470.65 ahead of the Q3 results announcement. The company on Tuesday, January 24, is expected to report a sequential fall in revenue on weaker volumes but may see some improvement in margins on price hikes and input-cost moderation in the December quarter, according to analysts.

Sectoral Indices

The sectoral indices were trading mixed. Bank Nifty rose 0.46%, PSU Bank climbed 0.47%, Nifty Private Bank advanced 0.40%, Nifty IT rose 0.82%, Nifty Auto rose 0.37% while Nifty Media fell 0.12%, Nifty Metal dropped 0.21%, Nifty Realty dipped 0.19% and Nifty Oil & Gas slipped 0.07%.

Asian and US stock markets

Markets in the Asia-Pacific traded higher as the Lunar New Year holidays were observed in most of the region. In Australia, the S&P/ASX 200 rose 0.17% in morning trade. Japan’s Nikkei 22 rose 460 pts or 1.71% to 27,365.94 and the Topix gained 1.08%. Markets in China, Hong Kong, Taiwan, South Korea, Malaysia and Singapore are closed for a holiday.

The US equity market ended Monday’s session broadly higher. The Dow Jones Industrial Average (DJIA) rose 254.07 or 0.76% to 33,629.56, S&P 500 climbed 47.20 pts or 1.19% to 4,019.81 and the tech-heavy Nasdaq advanced 223.98 or 2.01% settling at 11,364.41. 

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 219.87 crore while domestic institutional investors (DII) bought shares worth a net Rs 434.96 crore on Monday, January 23, 2023, according to the data available on NSE. For the month till January 23, FII sold shares worth a net Rs 20,099.98 crore while DII bought shares worth a net Rs 16,617.34 crore.

NSE F&O Ban

PVR, Delta Corp and L&T Finance Holdings are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday, January 24. 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.