Informist, Wednesday, Mar 22, 2023

By Ananya Grover

MUMBAI – Domestic benchmark equity indices ended higher ahead of the outcome of the US Federal Reserve's monetary policy meeting, due later today. The gains were largely led by pharmaceuticals and hospitals, as investors bought defensive stocks due to uncertainty before the decision on interest rates.

"Markets moved in a range-bound manner as traders were nervous ahead of US Fed's rate hike decision, due later today," said Viraj Vyas, an analyst at Ashika Stock Broking. He added that the market has already factored in a 25-basis-point rate hike, but there is a chance that the Fed might change its stance.

Institutional buying did not take place today on account of Gudi Padwa, said Vyas.

The Nifty 50 index ended 0.3% higher at 17151.90 points and the Sensex closed up 0.2% at 58214.59 points.

The Nifty 50 closed above the Tuesday's high of 17127 points, while it hit a high of 17207 points in early trade.

However, not many attempts were made to cross the crucial 17200 level. Analysts expect a relief rally up to 17500 points after the Nifty 50 crosses this level.

Shares of ICICI Bank, Tata Consultancy Services, and Sun Pharmaceuticals contributed the most to the rise in the Nifty 50, whereas a fall in shares of HDFC Bank, Axis Bank, and NTPC weighed on the index. Axis Bank fell today after gaining for four consecutive sessions.

Both the Nifty Pharma and Nifty Healthcare indices ended 1% higher today due to defensive buying, after falling consecutively for three straight sessions. Gains in the index were led by Alkem Laboratories, which ended over 3% higher, and Aurobindo Pharma, which closed up over 2%. Shares of Dr. Lal Pathlabs ended 2.8% higher.

Vyas said only some stocks led to gains in the index, and he still sees weakness in the pharmaceutical sector.

The Nifty FMCG also picked up in the second half of the session and ended 0.4% up due to defensive buying. Nifty PSU Banks continued to recover for the second consecutive session and ended 0.8% up at 3708.30 points.

While the Nifty Auto and Nifty IT indices recovered in early trade, Vyas said he did not see near-term strength in these sectors. "Nifty IT index was on the path of recovery today, but it faltered at 29500 level," he said. The index ended 0.2% higher at 28217.60 points.
 

The Nifty Auto index ended 0.5% higher today at 12201.35 points, but analysts say a drop in car sales due to fears of a recession is likely to weigh on the index in the near term.

"Mixed trends on the sectoral front and selective buying in the mid-cap and small-cap space kept the participants busy till the end," said Ajit Mishra, vice president of technical research at Religare Broking. All the broader market indices also ended in the green and performed better than the large-cap stocks.

* Among Nifty 50 stocks, 32 rose, 16 fell, and 2 unchanged

* Among Sensex stocks, 18 rose and 11 fell, and 1 unchanged

* On the BSE, 2,038 stocks rose, 1,460 fell, and 133 unchanged

* On the NSE, 1,387 stocks rose, 824 fell, and 518 unchanged

* Nifty Pharma: Up 1.04%; Nifty Healthcare: Up 1.03%; Nifty Media: Down 0.32%

BSE                                                NSE
Sensex: 58214.59, up 139.91 pts or 0.2%            Nifty 50: 17151.90, up 44.40 pts or 0.3%

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 Tanima Banerjee

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2023. All rights reserved.

Informist, Wednesday, Mar 22, 2023

By Ananya Grover

MUMBAI – Domestic benchmark equity indices ended higher ahead of the outcome of the US Federal Reserve's monetary policy meeting, due later today. The gains were largely led by pharmaceuticals and hospitals, as investors bought defensive stocks due to uncertainty before the decision on interest rates.

"Markets moved in a range-bound manner as traders were nervous ahead of US Fed's rate hike decision, due later today," said Viraj Vyas, an analyst at Ashika Stock Broking. He added that the market has already factored in a 25-basis-point rate hike, but there is a chance that the Fed might change its stance.

Institutional buying did not take place today on account of Gudi Padwa, said Vyas.

The Nifty 50 index ended 0.3% higher at 17151.90 points and the Sensex closed up 0.2% at 58214.59 points.

The Nifty 50 closed above the Tuesday's high of 17127 points, while it hit a high of 17207 points in early trade.

However, not many attempts were made to cross the crucial 17200 level. Analysts expect a relief rally up to 17500 points after the Nifty 50 crosses this level.

Shares of ICICI Bank, Tata Consultancy Services, and Sun Pharmaceuticals contributed the most to the rise in the Nifty 50, whereas a fall in shares of HDFC Bank, Axis Bank, and NTPC weighed on the index. Axis Bank fell today after gaining for four consecutive sessions.

Both the Nifty Pharma and Nifty Healthcare indices ended 1% higher today due to defensive buying, after falling consecutively for three straight sessions. Gains in the index were led by Alkem Laboratories, which ended over 3% higher, and Aurobindo Pharma, which closed up over 2%. Shares of Dr. Lal Pathlabs ended 2.8% higher.

Vyas said only some stocks led to gains in the index, and he still sees weakness in the pharmaceutical sector.

The Nifty FMCG also picked up in the second half of the session and ended 0.4% up due to defensive buying. Nifty PSU Banks continued to recover for the second consecutive session and ended 0.8% up at 3708.30 points.

While the Nifty Auto and Nifty IT indices recovered in early trade, Vyas said he did not see near-term strength in these sectors. "Nifty IT index was on the path of recovery today, but it faltered at 29500 level," he said. The index ended 0.2% higher at 28217.60 points.
 

The Nifty Auto index ended 0.5% higher today at 12201.35 points, but analysts say a drop in car sales due to fears of a recession is likely to weigh on the index in the near term.

"Mixed trends on the sectoral front and selective buying in the mid-cap and small-cap space kept the participants busy till the end," said Ajit Mishra, vice president of technical research at Religare Broking. All the broader market indices also ended in the green and performed better than the large-cap stocks.

* Among Nifty 50 stocks, 32 rose, 16 fell, and 2 unchanged

* Among Sensex stocks, 18 rose and 11 fell, and 1 unchanged

* On the BSE, 2,038 stocks rose, 1,460 fell, and 133 unchanged

* On the NSE, 1,387 stocks rose, 824 fell, and 518 unchanged

* Nifty Pharma: Up 1.04%; Nifty Healthcare: Up 1.03%; Nifty Media: Down 0.32%

BSE                                                NSE
Sensex: 58214.59, up 139.91 pts or 0.2%            Nifty 50: 17151.90, up 44.40 pts or 0.3%

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 Tanima Banerjee

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2023. All rights reserved.