Informist, Tuesday, Dec 13, 2022

By Vaibhavi

NEW DELHI – Upbeat trend across global markets as expectations of easing inflation in the US propelled gains for domestic equities and helped benchmark indices end higher today. However, public-sector banks stole the show today.

Domestic inflation eased to an 11-month low in November and was below the upper band of the Reserve Bank of India's target range of 2-6% for the first time in 2022, which aided sentiment for equities.

"Markets were on a firm footing today on the back of short covering as an easing of retail inflation raised hopes that the rate hike regime could slow down and take a pause going ahead," said Srikant Chouhan, head of equity research-retail, Kotak Securities.

Today, benchmark indices made a substantial recovery. The Nifty 50 ended 0.6% higher at 18608.00 points, above its immediate resistance of 18600 points, albeit marginally.

Similarly, the 30-stock Sensex settled at 62533.30 points, up 0.7% from the previous close.

A rate hike cycle, increased government focus, and cheaper valuations, coupled with a strong loan growth supported sentiment for public sector banks and helped eke out strong gains.

Gains in the sector were led by Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank od India, and Punjab & Sind Bank as they skyrocketed 10-20%. 

Buoyed by strong buying across all its constituents, the Nifty PSU Bank also surged to its highest level in 10 years. The index eventually settled nearly 4% higher and was the biggest sectoral gainer.

The trend for state-owned banks is expected to remain bullish on the back of expectations of a sectoral push from the Union Budget and current valuations, an analyst at a trading portal said.

The Nifty Bank index also delivered a decent show and carved a fresh lifetime high of 43983.80 points. The sectoral index ended 0.5% higher today, with IndusInd Bank being the major gainer.

Other major movers included the information technology pack that rose after investors used the recent dip in the sector as an opportunity to accumulate stocks at lower levels. The Nifty IT index snapped a seven-day losing streak and ended over 1% higher.

However, profit booking trickled in select consumer goods and metal stocks. Oil marketing companies also witnessed a bout of profit taking after their recent gains due to easing crude oil prices. Bharat Petroleum Corp, Indian Oil Corp and Hindustan Petroleum Corp ended 1-2% lower.

The broader market also remained resilient and all small- and mid-cap indices on the NSE ended 0.4-0.6% higher.

Among specific stocks, YES Bank surged 13.5% today, extending its winning streak to the third session following news on Friday that the Reserve Bank of India approved investments by private equity companies Carlyle Group and Advent International into the bank.

* Among Nifty 50 stocks, 34 rose, 16 fell 

* Among Sensex stocks, 24 rose, 6 fell   

* On the BSE, 1,920 stocks rose, 1,605 fell, and 144 were unchanged

* Nifty PSE: Up 0.2%; Nifty Auto: Up 0.4%; Nifty Realty: Down 0.8%

BSE                                              National Stock Exchange
Sensex: 62533.30, up 402.73 pts (0.7%)           Nifty 50: 18608.00, up 110.85 pts (0.6%)

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 Aditya Sakorkar

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, Tuesday, Dec 13, 2022

By Vaibhavi

NEW DELHI – Upbeat trend across global markets as expectations of easing inflation in the US propelled gains for domestic equities and helped benchmark indices end higher today. However, public-sector banks stole the show today.

Domestic inflation eased to an 11-month low in November and was below the upper band of the Reserve Bank of India's target range of 2-6% for the first time in 2022, which aided sentiment for equities.

"Markets were on a firm footing today on the back of short covering as an easing of retail inflation raised hopes that the rate hike regime could slow down and take a pause going ahead," said Srikant Chouhan, head of equity research-retail, Kotak Securities.

Today, benchmark indices made a substantial recovery. The Nifty 50 ended 0.6% higher at 18608.00 points, above its immediate resistance of 18600 points, albeit marginally.

Similarly, the 30-stock Sensex settled at 62533.30 points, up 0.7% from the previous close.

A rate hike cycle, increased government focus, and cheaper valuations, coupled with a strong loan growth supported sentiment for public sector banks and helped eke out strong gains.

Gains in the sector were led by Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank od India, and Punjab & Sind Bank as they skyrocketed 10-20%. 

Buoyed by strong buying across all its constituents, the Nifty PSU Bank also surged to its highest level in 10 years. The index eventually settled nearly 4% higher and was the biggest sectoral gainer.

The trend for state-owned banks is expected to remain bullish on the back of expectations of a sectoral push from the Union Budget and current valuations, an analyst at a trading portal said.

The Nifty Bank index also delivered a decent show and carved a fresh lifetime high of 43983.80 points. The sectoral index ended 0.5% higher today, with IndusInd Bank being the major gainer.

Other major movers included the information technology pack that rose after investors used the recent dip in the sector as an opportunity to accumulate stocks at lower levels. The Nifty IT index snapped a seven-day losing streak and ended over 1% higher.

However, profit booking trickled in select consumer goods and metal stocks. Oil marketing companies also witnessed a bout of profit taking after their recent gains due to easing crude oil prices. Bharat Petroleum Corp, Indian Oil Corp and Hindustan Petroleum Corp ended 1-2% lower.

The broader market also remained resilient and all small- and mid-cap indices on the NSE ended 0.4-0.6% higher.

Among specific stocks, YES Bank surged 13.5% today, extending its winning streak to the third session following news on Friday that the Reserve Bank of India approved investments by private equity companies Carlyle Group and Advent International into the bank.

* Among Nifty 50 stocks, 34 rose, 16 fell 

* Among Sensex stocks, 24 rose, 6 fell   

* On the BSE, 1,920 stocks rose, 1,605 fell, and 144 were unchanged

* Nifty PSE: Up 0.2%; Nifty Auto: Up 0.4%; Nifty Realty: Down 0.8%

BSE                                              National Stock Exchange
Sensex: 62533.30, up 402.73 pts (0.7%)           Nifty 50: 18608.00, up 110.85 pts (0.6%)

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 Aditya Sakorkar

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.