Informist, Wednesday, May 10, 2023
By Pradeep Suresh V.
MUMBAI – Benchmark indices recovered early losses and ended the session in green. Both the Nifty 50 and Sensex ended 0.3% higher at 18315.10 points and 61940.20 points, respectively.
IndusInd Bank was the top gainer among Nifty 50 stocks, ending 2.8% higher. The bank’s shares rose for the third consecutive day and hit a two-month high of 1,175.80 rupees after brokerage firm UBS upgraded the stock’s rating to ‘buy’ from ‘neutral’.
“Nifty remained in a tight range throughout the session amid weakness in global markets. The index finally ended the day with marginal gains of 49 points at 18315 levels. Sectorally, it was a mixed bag with oil and gas, realty, and auto being top gainers. Capital goods stocks rallied to record highs on the back of better-than-expected results and healthy order inflow,” Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.
Shares of HDFC Life Insurance Co ended 1.9% higher, while those of Power Grid Corp and Bharat Petroleum Corp ended 1.8% and 1.4% higher, respectively.
Shares of Birla Corp, which hit a four-month high of 1,034.95 rupees, ended 0.9% higher as the company’s consolidated net profit for Jan-Mar beat analysts’ average estimate, despite a 23.5% on-year fall.
Shares of HPL Electric & Power ended 3.6% higher today and hit a three-month high as the company won orders worth 2.04 bln rupees, from customers with a pan-India presence, to supply smart meters.
Shares of Varun Beverages extended its rally for the sixth consecutive session and hit an all-time high of 1,620 rupees. The stock finally closed 6.7% higher.
The gains among Nifty 50 stocks were led by energy and financial companies. Among sectoral indices, Nifty Media, Nifty Realty and Nifty Oil& Gas topped the charts ending 1.4%, 0.9% and 0.8% up respectively.
“Indian markets have disconnected from other markets in the region to erase the entire under-performance for YTD CY23 – this has been led by a meaningful jump in FII buying in both cash and futures segments. Earnings reported so far have been largely in line with estimates with a few positive surprises in the financial sector offset by disappointments among IT companies,” said S. Hariharan, head institutional equity sales at Emkay Global Financial Services.
UPL continued to be the biggest loser among the Nifty 50 constituents. The stock ended down over 2% as the company’s profitability suffered in the March quarter. The pesticides and agrichemicals maker’s consolidated net profit attributable to the owners fell by a sharp 43% on year to 7.92 bln rupees and the consolidated net profit attributable to non-controlling interests fell 19% on year to 2.88 bln rupees.
Shares of Dr Reddy’s Laboratories ended down 1.3% ahead of Jan-Mar results, while shares of Hindalco Industries and Infosys closed lower by 0.9% and 0.6%, respectively.
Shares of Larsen & Toubro ended 0.4% lower ahead of its Jan-Mar earnings released after market hours today. Shares of JBM Auto erased gains and ended 6.8% lower after the company reported weak earnings for the March quarter.
Castrol India shares ended 2.1% lower today after the company reported decline in its net profit for the quarter ended March.
Among the sector indices, Nifty PSU Bank, Nifty Metal and Nifty IT ended as top losers.
* Among Nifty 50 stocks, 36 rose, 14 fell
* Among Sensex stocks, 22 rose, 8 fell
* On the BSE, 1,757 stocks rose, 1,737 fell, and 143 were unchanged
* Nifty Media: Up 1.36%; Nifty Realty: Up 0.86%; Nifty PSU Bank: Down 1.06%
BSE NSE
Sensex: 61940.20, up 178.87 pts or 0.29% Nifty 50: 18315.10, up 49.15 pts or 0.27%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 63583.07 (Dec 1, 2022) : Lifetime High: 18887.60 (Dec 1, 2022)
Record Close High: 63284.19 (Dec 1, 2022) : Record Close High: 18812.50 (Dec 1, 2022)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 61167.79 (Jan 2) : 2023 Closing High: 18197.45 (Jan 2)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 61222.79 (Jan 2) : 2023 High (intraday): 18215.15 (Jan 2)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Oct 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Aditya Sakorkar
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