Informist, Tuesday, May 23, 2023
By Neeshita Beura
MUMBAI – Benchmark indices ended higher for the third trading session in a row today, led by gains in metals and automobile sectors. Adani Enterprises, a constituent of the Nifty Metal index, propelled the index and the overall market higher. On the other hand, shares of financial services companies and construction companies declined.
The Nifty 50 ended 0.2% higher at 18348.00 points and the Sensex ended flat at 61981.79 points. The indices had opened higher and remained rangebound till 1430 IST after which they started falling. However, they managed to end in the green.
Gains in the metals sector were led by Adani Enterprises, Hindalco Industries, and Tata Steel. Adani Enterprises gained for the third consecutive day and ended 13.2% higher at 2,633.70 rupees after the Sapre panel report on Friday said it could not find any “regulatory failure” on the part of the Securities and Exchange Board of India and the allegations raised regarding stock price manipulation by the group companies.
In the oil and gas sector, Bharat Petroleum Corp aided the gains in the Nifty 50 index as the company reported a 160% year-on-year rise in its Jan-Mar net profit at 64.78 bln rupees on the back of strong refining margins and lower crude oil prices. The stock closed 1.4% higher.
Losses in shares of Axis Bank, Bajaj Finance, HDFC Bank, HDFC Life Insurance Co, and Kotak Mahindra Bank weighed on the financial services sector. Nifty Financial Services closed nearly flat at 19397.80 points.
Nifty IT was the worst hit among sectoral indices, dragged by losses in LTIMindree, Tech Mahindra, and HCL Technologies.
The earnings season is coming to an end and the sample of Nifty 500 companies that have reported their results so far show an aggregate revenue growth of 15.3% year-on-year, said Mitul Shah, the head of research at Reliance Securities, in a note. He said that lower inflation and industrial growth provides room for the Reserve Bank of India to continue with its pause in the interest rate hike cycle.
* Of the Nifty 50 stocks, 28 rose, 22 fell
* Of the Sensex stocks, 14 rose, 16 fell
* On the BSE, 1,775 stocks rose, 1,733 fell, and 116 were unchanged
* Nifty Metal: up 2.6%; Nifty Oil & Gas: up 0.7%; Nifty IT: down 0.5%
BSE NSE
Sensex: 61981.79, up 18.11 pts or 0.03% Nifty 50: 18348.00, up 33.60 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: 62345.71 (May 15) : 2023 Closing High: 18398.85 (May 15)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 62562.67 (May 15) : 2023 High (intraday): 18458.90 (May 15)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Jan 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 Vandana Hingorani
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