Indices pare early losses; Nifty above 18,100; PSU banks advance

Image
Capital Market
Last Updated : Jan 20 2023 | 11:04 AM IST
The domestic equity benchmarks pared all early losses and traded with small gains in morning trade. The Nifty marched above the 18,100 level. PSU bank shares advanced for the second day in a row.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 79.44 points or 0.13% to 60,937.87. The Nifty 50 index added 20.80 points or 0.11% to 18,128.65.

In the broader market, the S&P BSE Mid-Cap index fell 0.02% while the S&P BSE Small-Cap index gained 0.16%.

The market breadth was positive. On the BSE, 1,867 shares rose, and 1,311 shares fell. A total of 168 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 399.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 128.96 crore in the Indian equity market on 19 January, provisional data showed.

Earnings Today:

Reliance Industries (down 0.58%), HDFC Life Insurance Company (down 0.02%), JSW Steel (down 0.43%), LTIMindtree (up 0.05%), Union Bank of India (down 0.31%), Bandhan Bank (up 0.55%), RBL Bank (up 2.12%), Aether Industries (up 0.69%), Atul (0.19%), DCM Shriram (down 0.48%), Heritage Foods (up 2.38%), Indian Energy Exchange (down 0.69%), JSW Energy (down 0.15%), NELCO (up 0.10%), Petronet LNG (up 0.61%), Ramkrishna Forgings (down 0.04%), Shakti Pumps (up 1.23%) and Tanla Platforms (down 0.11%) will announce their quarterly results later today.

Buzzing Index:

The Nifty PSU Bank index gained 1.07% to 4,273.10. The index rose 1.40% in the two trading sessions.

Among the components of the Nifty PSU Bank index, Bank of Baroda (up 1.74%), Canara Bank (up 1.45%), Punjab National Bank (up 1.4%), State Bank of India (up 1.01%), Indian Bank (up 0.45%) and Bank of India (up 0.28%).

On the other hand, Central Bank of India (down 0.77%), Indian Overseas Bank (down 0.64%) and UCO Bank (down 0.64%) moved lower.

Stocks in Spotlight:

Tata Consultancy Services (TCS) rose 0.31%. The IT major has been selected as a strategic partner by Bombardier, a global leader in aviation, to accelerate its digital transformation and drive innovation. It will help Bombardier drive its organization-wide IT and digital transformation that aims to enhance agility.

IndiaMART InterMESH advanced 2.21% after the company's consolidated net profit jumped 61% to Rs 113 crore on 34% rise in net sales to Rs 251 crore in Q3 December 2022 over Q3 December 2021.

AU Small Finance Bank rose 0.05% after the bank reported 30% jump in net profit to Rs 393 crore on a 41% rise in net interest income to Rs 1,153 crore in Q3 FY23 over Q3 FY22. Net interest margin (NIM) for the quarter was stable at 6.2%. Total income increased by 36% YoY to Rs 2,413 crore in Q3 FY23.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Great minds don’t just skim the surface, they uncover the full story.

Already subscribed? Log in

Subscribe to read the full story →

Smart Quarterly

₹900

3 Months

₹300/Months/month

SAVE 25%

Smart Essential

₹2700

1 Year

₹225/Months/month

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Unlimited access to all articles

  • 30+ premium stories daily, handpicked by our editor

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio

  • Wirecutter & The Athletic

Complimentary Access to Our e-Paper

  • Digital replica of our daily newspaper

  • Read, save, share any article

Curated Newsletters on Diverse Topics

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Smart Investment Tips

  • In-depth stock analysis & insights

  • The Smart Investor for wealth growth tips

Access to Extensive Historical Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading Experience

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Repository of articles and publications dating back to 1997

Save 25%

More From This Section

Gold price in Delhi today is ₹ 84,470, Click Here for other cities. Silver price in Delhi today is ₹ 84,470, Click Here for other cities.

First Published: Jan 20 2023 | 10:30 AM IST

Subscribe to read without limits
Subscribe Now
Next Story