Informist, Friday, Apr 21, 2023
Pradeep Suresh V.
MUMBAI – Domestic benchmark indices ended flat today after erasing early gains, with metal and financial services companies pulling the market down. Also, the general downturn across global indices and concern that the Reserve Bank of India will be forced to hike key rates to tackle inflation owing to deficient monsoon weighed on the sentiment.
Nifty 50 opened higher today owing to a strong performance by pharmaceutical, healthcare, and consumer durables stocks. It reached the day's high at around 0930 IST before falling to its lowest level of the session at just after 1300 IST amid selling pressure on metal stocks. However, it made a recovery in the latter half climbing into the green before closing flat. Sensex, too, made gains in early trade and fell by 1000 IST. The red run continued till it made gains in the latter half of the session before ending flat.
Today, the Nifty 50 and Sensex closed flat at 17624.05 points and 59655.06 points, respectively.
Metal and financial services were the major losers today, with shares of HDFC Life Insurance Co falling 3.2% to become the top loser among Nifty 50 stocks. Shares of SBI Life Insurance Co and Bajaj Finserv ended 2.0% and 1.1% lower, respectively.
Key stocks from the metal sector such as Adani Enterprises ended 2.2% lower, and other stocks from the sector such as Hindalco Industries and Tata Steel ended 1.7% lower, likely because China said it would curb the surge in iron prices, analysts said.
"Chinese government officials said that they will curb the unjustified gains in iron ore prices after the recent surge...if prices fall, it will have an impact on Indian companies such as National Mineral Development Corp," said Ravi Sodah, an analyst tracking metal companies at Elara Capital.
The last few months have not been great for the metal sector and continuing economic slowdown and fears of a recession are not helping.
Other key stocks which ended in the red included Tech Mahindra, which ended 2.3% down, and Maruti Suzuki India, Tata Motors and ICICI Bank that ended 1.8%, 1.2% and 1% lower, respectively.
Stocks of companies belonging to the FMCG and information technology led the gains today. ITC emerged as the top gainer among Nifty 50 stocks, ending 2% higher. Shares of Britannia Industries ended the day 1.7% higher.
IT stocks that were hit hard by weak returns in the previous quarter made gains today. Tata Consultancy Services ended the day 1.8% higher while Wipro and HCL Tech ended 1.4% and 1.1% higher, respectively.
Shares of footwear manufacturer Mirza International were locked in the upper circuit of 60.3 rupees, and hit their lifetime high at that level today. The stock had gained for the past six consecutive sessions.
Among sectoral indices, Nifty Media and Nifty FMCG ended 1.3% and 0.9% higher, respectively.
* Among Nifty 50 stocks, 25 rose, 24 fell,1 was flat
* Among Sensex stocks, 15 rose, 15 fell
* On the BSE, 1,477 stocks rose, 1,985 fell, and 137 were unchanged
* Nifty Realty: Down 2.1%; Nifty Metal: down 1.4%; Nifty Media: Up 1.3%
BSE NSE
Sensex: 59655.06, up 22.71 pts or 0.04% Nifty 50: 17624.05, down 0.40 pts or 0.00%
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 Akul Nishant Akhoury
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