Sensex, Nifty50 marginally up amid volatility – IT, auto and FMCG indices among top gainers

• India’s benchmark indices Sensex and Nifty50 were marginally up in the first half of trading on Tuesday amidst volatility.
  
• IT, auto and FMCG indices were amongst the top gainers in the first half, while realty, healthcare and pharma indices were the top drags.
  
• Maruti Suzuki, Axis Bank, Zomato are amongst stocks in focus on Tuesday.
  

India’s benchmark indices Sensex and Nifty50 were marginally up in the first half of trading on Tuesday amidst volatility. IT, auto and FMCG indices were amongst the top gainers in the first half, while realty, healthcare and pharma indices were the top drags.

Earlier on Tuesday, Indian markets snapped a two-day losing streak and closed the day in the green, with Sensex gaining 0.53% to close at 60,942 while Nifty50 ended up 0.50% at 18,119 points.

While foreign institutional investors (FII) were net sellers on Monday with withdrawals of ₹220 crore, domestic institutional investors (DII) supported the markets with purchases of ₹435 crore.

Markets around the world maintained a positive sentiment, but experts believe the domestic markets will witness a range-bound movement in the run up to the budget.

Here are the top gainers and losers on the Nifty50 index

Top gainers	Change	Top losers	Change
Tata Motors	2.86%	Axis Bank	-2.54%
Adani Enterprises	1.83%	Power Grid Corp	-1.29%
Asian Paints	1.49%	Bharti Airtel	-1.13%
HCL Technologies	1.44%	JSW Steel	-1.00%
HDFC Bank	1.06%	Dr. Reddy's Laboratories	-0.87%

Source: NSE, as at 11:15 a.m., January 24, 2023
US markets continue to gain driven by earnings enthusiasm

Markets in the US continued to gain momentum on the back of a renewed enthusiasm with the earnings season underway.

All the three benchmark indices in the US closed in the green on Monday. The Dow Jones Industrial Average gained 0.76%, while the S&P 500 gained 1.19%. The tech-heavy Nasdaq gained 2.01%.

Most Asian markets were closed on account of holidays, but Nikkei 225 was up 1.59% on Tuesday.

Stocks to watch

Axis Bank: The private sector lender beat analyst expectations with a 62% YoY rise in net profit to ₹5,853 crore, while its net interest income rose 32% YoY to ₹11,459 crore.

Zomato: The food delivery startup has reportedly ended its 10-minute delivery service.

Maruti Suzuki: India’s leading car maker is scheduled to announce its Q3 earnings today.

Vedanta: The company’s board of directors will meet on January 27 to consider and approve the fourth interim dividend for FY23.

Earnings today: Maruti Suzuki, TVS Motor, Indus Towers, SBI Cards and Payment Services, United Spirits, Macrotech Developers, Nazara Technologies, Tata Coffee, Motilal Oswal Financial Services, CarTrade Tech, among others.

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