India Stocks Review: Indices end lower; Dr Reddy’s biggest loser

Informist, Thursday, May 11, 2023

By Pradeep Suresh V

MUMBAI – The benchmark share indices ended slightly lower in a session in which positive global cues and weak earnings of several major corporates for Jan-Mar led investors to tread cautiously.

Investors were encouraged by Wednesday’s US CPI data for April, which led to hopes of a pause in the US Federal Reserve’s rate hiking cycle. However, weak earnings of Larsen & Toubro and Dr Reddy’s Laboratories hit overall market sentiment. The fall seen across most Asian indices due to growing deflationary pressures in China also affected the market.

“Weak Asian cues dampened the sentiment as local markets remained subdued throughout the trading session before finally edging marginally lower amid selling in metal and capital goods stocks. Investors are probably in a wait-and-watch mode after a sharp spike in recent sessions,” said Shrikant Chouhan, head of equity research at Kotak Securities.

Today, the Nifty 50 and the Sensex ended 0.1% lower each at 18297 points and 61904.52 points, respectively.

Dr Reddy’s Laboratories was the biggest loser among Nifty 50 constituents. The stock hit a one-month low of 4,524.05 rupees and ended 6.9% lower after the company’s earnings for Jan-Mar missed estimates. Similarly, shares of Larsen & Toubro ended 5.2% lower after the company announced a lower-than-expected net profit for the quarter ended March.

Shares of Hindalco Industries ended 3.6% lower after the company’s arm Novelis recorded a decline in its net profit for Jan-Mar.

Adani Enterprises was the top Nifty 50 gainer. The stock closed 4.9% higher after the company said its board would meet on Saturday to consider a proposal to raise funds by issuing equity shares or other securities.

Asian Paints ended 3.2% higher following impressive earnings for Jan-Mar. Shares of Hindustan Unilever ended 2.8% higher.

IndusInd Bank rallied for the fourth consecutive session. The stock closed 1.3% higher, after hitting the highest level of 1,200 rupees in over three months.

Shares of Rail Vikas Nigam gained 4% after the company and its partner Siemens India received a letter of acceptance from the Mumbai Metropolitan Region Development Authority for multiple electrical and digital projects for Mumbai Metro. Shares of Gujarat Gas ended higher by 5.5% as the company’s Jan-Mar earnings came in higher than Street estimates.

Among the sectoral indices, the Nifty Pharma and Nifty Healthcare were major losers, while the Nifty Consumer Durables and Nifty Realty indices were the top gainers.

* Among Nifty 50 stocks, 27 rose 23 fell

* Among Sensex stocks, 20 rose 10 fell

* On the BSE, 2,034 stocks rose, 1,446 fell, and 152 were unchanged

* Nifty Consumer Durables: Up 0.9%; Nifty Realty: Up 0.48%; Nifty Pharma: Down 1.26%

BSE NSE
Sensex: 61904.52, down 35.68 pts or 0.06% Nifty 50: 18297, down 18.10 pts or 0.1%

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 Ashish Shirke

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