Informist, Monday, May 8, 2023

Pradeep Suresh V.

MUMBAI – Domestic benchmark equity indices recovered from Friday's losses, owing to an upturn in global markets and gains in automobile, banking, and financial services stocks.

Both the Nifty 50 and the Sensex ended the session at their highest levels in over four months. While the Nifty 50 closed 1.1% higher at 18264.40 points, the Sensex ended the session up 1.2% at 61764.25 points.

"Domestic indices bounced back following its global peers after the US reported strong jobs data... Almost all sectors ended in green with realty, auto, financial services, and banking being top gainers... for the week, we expect the market to continue with its positive structure dictated by corporate earnings and consistent buying by FIIs," said Siddhartha Khemka, retail research head at Motilal Oswal Financial Services.

IndusInd Bank ended 4.9% higher, among the top gainers on the Nifty 50 companies. Shares of the company, which traded in the red for the last four sessions, saw a turnaround after a slew of management changes, identifying a new chief risk officer and appointing Sachin Patange as chief compliance officer on Saturday.

Shares of Tata Motors were the other top gainers, ending 4.9% higher, hitting a one-year high after falling in two consecutive sessions.

Bajaj Finance and Bajaj Finserv ended 4.2% and 3.4% higher, respectively.  

Shares of Lupin hit a three-month high of 736.85 rupees and ended 4% higher after the company on Friday said it would acquire French company Medisol for 18 mln euros in cash. Shares of Manappuram Finance ended 5.1% higher after the non-bank lender clarified on Friday that the Enforcement Directorate's action against promoter and Managing Director V.P. Nandakumar was not linked to the affairs of the listed entity.

Key auto sector stocks such as Bajaj Auto, Mahindra & Mahindra, and Maruti Suzuki India ended in the green, along with financial sector stocks such as Kotak Mahindra Bank, HDFC Life Insurance Co, Axis Bank, and State Bank of India.

"On daily charts, the index has formed a bullish candle and currently it is comfortably trading above the 18200 level, which would be the sacrosanct support level. Above the same, the index could move up till 18350-18400, while on the flip side below 18200, the uptrend would be vulnerable," said Shrikant Chouhan, head of equity research at Kotak Securities.

Shares of IT companies fared well today, with key stocks like HCL Technologies, Infosys, Wipro, Tata Consultancy Services, and Tech Mahindra ending in the green. George Thomas, fund manager at Quantum AMC, says a large bench of fresh recruits and ease of supply-side pressures would help IT firms improve profitability in the near term.

Coal India was the top loser among Nifty 50 constituents, ending 1.9% lower after the company missed Jan-Mar profit estimates. Key Adani Group stocks had a forgettable day, with Adani Enterprises ending 1.7% lower.

Shares of Gujarat Ambuja Exports ended 9.6% lower following the announcement of the company's Jan-Mar earnings on Saturday. The company's consolidated net profit fell 54.6% on year to 695.6 mln rupees despite a 13.8% rise in revenue at 14.29 bln rupees.

The Nifty Auto was the top gainer among sectoral indices, ending 1.8% higher, while the Nifty PSU Bank index was the top loser, ending 0.9% lower.

* Among Nifty 50 stocks, 41 rose, 9 fell

* Among Sensex stocks, 27 rose, 3 fell

* On the BSE, 2,073 stocks rose, 1,575 fell, and 163 were unchanged

* Nifty Auto: Up 1.79%; Nifty Private Bank: Up 1.7%; Nifty PSU Bank: Down 0.93%

BSE                                              NSE
Sensex: 61764.25, up 709.96 pts or 1.16%          Nifty 50: 18264.40, up 195.40 pts or 1.08%

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 Avishek Dutta

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