24 Jan , 2023 By : Monika Singh
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 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.
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%.
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.
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.
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.
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