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India Stocks Review: Indices end flat; UPL, ITC, SBI biggest losers

Informist, Tuesday, May 9, 2023

 

By Pradeep Suresh V

 

MUMBAI – The domestic benchmark indices failed to sustain early gains and ended the session flat because of fall in shares of banks and fast-moving consumer goods companies. Investors were also cautious ahead of US inflation data for April on Wednesday and Bank of England's interest rate decision on Thursday. 

 

The Nifty 50 closed up just 1.55 points at 18265.95 and the Sensex ended down 2.92 points at 61761.33.
 

"The markets will keep one eye on the quarterly results and the management commentary while also focusing on the US regional banking crisis, US government debt concerns, inflation and the crude oil prices… steep correction in Brent crude prices is an additional tailwind for the Indian economy,” said Mitul Shah, head of research at Reliance Securities.

 

UPL was the biggest loser among the Nifty 50 constituents. The stock ended down almost 3% as the company's profitability suffered in the March quarter. The pesticides and agrichemicals maker's consolidated net profit fell sharply by 43% on year to 7.92 bln rupees.

 

Shares of FMCG giant ITC ended down 1.8% while shares of State Bank of India and Bajaj Finance closed lower by 1.7% and 1.6%, respectively.

 

Shares of key public sector banks ended in the red. Earlier in the day, Informist reported that deposit rates may not rise sharply in the coming quarters, as they have already increased more than lending rates.

 

Oracle Financial Services Software ended 7.3% lower as the stock went ex-dividend today.

 

Divi's Laboratories was the top Nifty 50 gainer. The stock closed higher by 3%. Shares of Coal India recouped losses suffered on Monday to hit a near-five-month high of 238.80 rupees. The stock gained 1.5%.

 

"Markets have been showing resilience amid mixed cues and Nifty has formed a higher base at 18,050 levels as well. A decisive breakout above 43,500 in the banking index would provide the needed trigger for fresh momentum else the up move would be gradual.  We thus reiterate our bullish view and suggest focusing on stock selection and trade management,” said  Ajit Mishra, vice president at Religare Broking.

 

Shares of Chalet Hotels ended 1.2% higher and hit its highest level in six months after the company reported a consolidated net profit for Jan-Mar against a loss in the year-ago period.

 

Shares of Lupin hit a fresh one-month high of 746 rupees and ended 1.8% higher ahead of the company's Jan-Mar results later today. Shares of both Birlasoft and Carborundum Universal ended in the green following impressive Jan-Mar results.

 

All information technology sector stocks, including majors Wipro, Tech Mahindra, Tata Consultancy Services, and Infosys, ended in the green.

 

Among the sectoral indices, Nifty IT, Nifty Auto and Nifty Pharma ended higher, while Nifty PSU Bank, Nifty Realty and Nifty FMCG closed on a weak note.

 

* Among Nifty 50 stocks, 26 rose, 22 fell, and 2 were unchanged

* Among Sensex stocks, 16 rose, 12 fell, and 2 were unchanged

* On the BSE, 1,577 stocks rose, 1,921 fell, and 142 were unchanged

* Nifty IT: Up 0.73%; Nifty Auto: Up 0.47%; Nifty PSU Bank: Down 2.75%


BSE                                              NSE
Sensex: 61761.33, down 2.92 pts or 0%          Nifty 50: 18265.95, up 1.55 pts or 0.01%


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 Maheswaran Parameswaran

 

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.

 

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