Domestic indices opened Friday’s session in deep red. The Nifty slipped below 17,800 and the Sensex below 59,800. The Nifty 50 fell 120.80 pts or 0.68% to 17,771.15 and Sensex dropped 451.72 pts or 0.75% to 59,753.34. The top gainers of Sensex were Tata Motors (up 6.81%), ITC (up 2.16%), Mahindra & Mahindra (up 1.58%), Tata Steel (up 1.07%) and Bajaj Finserv (up 1.01%) while ICICI Bank (down 2.66%), HDFC (down 2.17%), Axis Bank (down 1.83%), SNIN (down 1.89%) and HDFC Bank (down 1.82%).

Tata Motors, Adani Group stocks in focus today

Tata Motors shares rose over 8% to Rs 448.00 after the company reported a consolidated profit for the quarter ended December 2022 at Rs 2,958 crore against a loss of Rs 1,516 crore in the same period last year on better topline as well as operating performance. 

Adani group share tumbled up to 18% on Friday in the aftermath of the 103-page report released by US-based forensic financial research firm Hindenburg Research, which alleged accounting fraud, stock manipulation and improper use of offshore tax havens by the group. Continuing the sell-off seen on Wednesday, Adani Enterprises shares fell more than 3% to Rs 3,282 on Monday, Adani Ports fell 4%, Adani Power hit 5% lower circuit. Adani Transmission shares plunged 15% on BSE to Rs 2,120 apiece, Adani Green Energy tumbled 11%, Adani Total Gas was down 18%, Adani Wilmar shares also tanked 5%.

Sectoral Indices

The sectoral indices were trading broadly lower. Bank Nifty fell 2.33%, Nifty PSU Bank fell 1.70%, Nifty Oil & Gas fell 3.88%, Nifty Metal down 0.53% and Nifty Realty down 0.36% while Nifty Auto and Pharma rose 1.64% and 0.28% respectively.

Asian and US stock markets

Asian markets were trading mixed on Friday. Japan’s Nikkei was trading 7.99 pts or 0.03% higher at 27,370.74, South Korea’s KOSPI climbed 17.91 pts or 71% to 2,486.56 while Hong Kong’s Hang Seng dropped 11.51 pts or 0.05% to 22,555.27.

U.S. equity closed in the green territory on Thursday, with the S&P 500 ending at the highest level since early December, as the fourth-quarter gross domestic product (GDP) came in slightly stronger than expected, boosting investor confidence. The S&P 500 rose 44.21 points or 1.1% to end at 4,060.43. Dow Jones Industrial Average DJIA gained 205.57 points or 0.6% to finish at 33,949.41. Nasdaq Composite COMP advanced 199.06 points or 1.8% ending at 11,512.41.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 2,393.94 crore while domestic institutional investors (DII) bought shares worth a net Rs 1,378.49 crore on Wednesday, January 25, 2023, according to the data available on NSE. For the month till January 26, FII sold shares worth a net Rs 23,254.43 crore while DII bought shares worth a net Rs 19,140.58 crore.

NSE F&O Ban

No stock/security has been put under the National Stock Exchange’s futures & options (FO) ban on Wednesday, January 25, 2023.