Informist, Thursday, Dec 29, 2022

By Padmini Dhruvaraj

MUMBAI – The benchmark indices ended higher today because of buying in banking stocks and quarterly rebalancing of the Nifty 50 and other sectoral indices, which led to inflows in the last hour, dealers said. The session was volatile throughout the day because of expiry of the last series of future and options contracts for the year.

Apart from financial services companies, shares of automobile and information technology companies too rose, helping the benchmark indices recover from the setback in the opening.

The Nifty 50 and Sensex both ended 0.4% higher at 18191 points and 61133.88 points, respectively. The Nifty 50 moved in a narrow range throughout the session until a sharp surge in index heavyweights lifted the index.

"The rally in the last hour of trade was because of quarterly weight rebalancing of constituents of Nifty indices, and short covering in the futures and options on the expiry day," said Santosh Meena, head of research at Swastika Investmart.

 
Shrikant Chouhan, head of equity research at Kotak Securities, said, "Investors covered their positions on the last day of the December monthly expiry, fuelling an upsurge in metals, banking, and oil & gas shares on hopes of a demand revival after China lifted Covid-related restrictions."

Weightage of Nifty 50 constituents such as Axis Bank, Bharti Airtel, Adani Ports and Special Economic Zone, HDFC Bank, and ICICI Bank will be increased according to Nuvama Alternative and Quantitative Research, and the changes will be effective from Friday. As a result, all these stocks closed 0.5-2.1% higher.

On the other hand, weightage of Bajaj Finserv, Bajaj Auto, Kotak Mahindra Bank, Housing Development Finance Corp and Tech Mahindra will be reduced, the report said. Barring HDFC, all the other stocks in this list ended 0.1-0.7% lower.

However, the broader indices underperformed the benchmark indices because of low volumes due to expiry, said Meena. On days of expiry, investors tend to focus more on large-cap stocks, he added. All smallcap and madcap indices on the National Stock Exchange ended largely flat.

KFin Technologies ended 0.6% lower at 363.85 rupees after listing marginally higher today. Shares of Shriram Finance closed more than 5% lower after listing additional 174 mln equity shares of the company following the amalgamation of various Shriram Group entities. Bikaji Foods International was locked at the upper circuit of 5% for the fourth consecutive day.

"Markets may attempt to extend the rebound on the last trading day of the calendar year, but mixed global cues could cap the upside," said Ajit Mishra, vice president-technical research at Religare Broking.

On Friday, Indian equities will take cues from the US market, after weekly jobless claims data is released today. Fears of recession in developed countries could cap the upside in domestic indices.

Analysts said 18000 would act as a support for Nifty 50, and resistance is seen at 18300.

* Among Nifty 50 stocks, 31 rose, 18 fell, and 1 was unchanged

* Among Sensex stocks, 19 rose and 11 fell   

* On the BSE, 1,785 stocks rose, 1,697 fell, and 146 were unchanged

* Nifty Metal: Up 1.1%; Nifty Bank: Up 1%; Nifty Media: Down 0.6%

BSE                                              National Stock Exchange
Sensex: 61133.88, up 223.60 pts (0.4%)           Nifty 50: 18191.00, up 68.50 pts (0.4%)

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)

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

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. 2022. All rights reserved.

Informist, Thursday, Dec 29, 2022

By Padmini Dhruvaraj

MUMBAI – The benchmark indices ended higher today because of buying in banking stocks and quarterly rebalancing of the Nifty 50 and other sectoral indices, which led to inflows in the last hour, dealers said. The session was volatile throughout the day because of expiry of the last series of future and options contracts for the year.

Apart from financial services companies, shares of automobile and information technology companies too rose, helping the benchmark indices recover from the setback in the opening.

The Nifty 50 and Sensex both ended 0.4% higher at 18191 points and 61133.88 points, respectively. The Nifty 50 moved in a narrow range throughout the session until a sharp surge in index heavyweights lifted the index.

"The rally in the last hour of trade was because of quarterly weight rebalancing of constituents of Nifty indices, and short covering in the futures and options on the expiry day," said Santosh Meena, head of research at Swastika Investmart.

 
Shrikant Chouhan, head of equity research at Kotak Securities, said, "Investors covered their positions on the last day of the December monthly expiry, fuelling an upsurge in metals, banking, and oil & gas shares on hopes of a demand revival after China lifted Covid-related restrictions."

Weightage of Nifty 50 constituents such as Axis Bank, Bharti Airtel, Adani Ports and Special Economic Zone, HDFC Bank, and ICICI Bank will be increased according to Nuvama Alternative and Quantitative Research, and the changes will be effective from Friday. As a result, all these stocks closed 0.5-2.1% higher.

On the other hand, weightage of Bajaj Finserv, Bajaj Auto, Kotak Mahindra Bank, Housing Development Finance Corp and Tech Mahindra will be reduced, the report said. Barring HDFC, all the other stocks in this list ended 0.1-0.7% lower.

However, the broader indices underperformed the benchmark indices because of low volumes due to expiry, said Meena. On days of expiry, investors tend to focus more on large-cap stocks, he added. All smallcap and madcap indices on the National Stock Exchange ended largely flat.

KFin Technologies ended 0.6% lower at 363.85 rupees after listing marginally higher today. Shares of Shriram Finance closed more than 5% lower after listing additional 174 mln equity shares of the company following the amalgamation of various Shriram Group entities. Bikaji Foods International was locked at the upper circuit of 5% for the fourth consecutive day.

"Markets may attempt to extend the rebound on the last trading day of the calendar year, but mixed global cues could cap the upside," said Ajit Mishra, vice president-technical research at Religare Broking.

On Friday, Indian equities will take cues from the US market, after weekly jobless claims data is released today. Fears of recession in developed countries could cap the upside in domestic indices.

Analysts said 18000 would act as a support for Nifty 50, and resistance is seen at 18300.

* Among Nifty 50 stocks, 31 rose, 18 fell, and 1 was unchanged

* Among Sensex stocks, 19 rose and 11 fell   

* On the BSE, 1,785 stocks rose, 1,697 fell, and 146 were unchanged

* Nifty Metal: Up 1.1%; Nifty Bank: Up 1%; Nifty Media: Down 0.6%

BSE                                              National Stock Exchange
Sensex: 61133.88, up 223.60 pts (0.4%)           Nifty 50: 18191.00, up 68.50 pts (0.4%)

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)

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

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. 2022. All rights reserved.