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Benchmark equity indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty rallied for a second straight session on Monday following buying in index heavyweight IT counters and Reliance Industries amid optimism in Asian markets. The 30-share BSE Sensex climbed 234 points or 0.38 per cent to settle at 61,963.68. During the day, it jumped 314.78 points or 0.50 per cent to 62,044.46. The NSE Nifty rallied 111 points or 0.61 per cent to end at 18,314.40. Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen &amp; Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards. All the ten listed Adani group stocks ended with significant gains as a Supreme Court-appointed expert committee said it has found no evidence of stock price manipulation in group companies, while a separate Sebi probe into alleged violation in money flows from offshore entities has "drawn a blank". Adani Enterprises zoomed 18.84 per cent and Adani Wilmar jumped 10 per cent, the biggest gainers among the ten listed group firms. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory. Markets in Europe were trading on a mixed note. The US market had ended marginally lower on Friday. "The domestic market inched higher in anticipation of possible progress in US debt ceiling negotiations. Despite a weak fourth-quarter performance, IT stocks rebounded on account of bargain opportunities and pent-up demand. Investors remain watchful ahead of the release of US FOMC minutes on Wednesday, as the minutes may give some indication of a pause on rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services. Meanwhile, global oil benchmark Brent crude climbed 0.03 per cent to USD 75.60 per barrel. The Sensex climbed 297.94 points or 0.48 per cent to settle at 61,729.68 on Friday. The Nifty advanced 73.45 points or 0.41 per cent to end at 18,203.40. Foreign institutional investors (FIIs) offloaded equities worth Rs 113.46 crore on Friday after remaining buyers for a number of days, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/sbi-vs-bank-of-baroda-vs-canara-bank-performance-comparison-based-on-q4-2022-23-earning-reports/articleshow/100357639.cms">SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4</a>

Sensex jumped 234 points, Nifty rallied 111 points with buying in IT counters, RIL

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Friday amid negative cues in global markets. </li><li>Realty, metal and auto stocks declined while FMCG and media stocks edged up. </li><li>Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points.</li></ul>Indian benchmark indices Sensex and Nifty50 edged lower in morning trade on Friday amid negative cues in global markets. Realty, metal and auto stocks declined while FMCG and media stocks edged up. Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.69% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.91% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.51% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.33% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.19% </td></tr></tbody></table> Source: NSE, as on April 21, 2023 Earlier on Thursday, markets snapped a three-day losing streak to close in the green, with Sensex gaining 0.11% and Nifty50 gaining 0.3%. <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> delivered its Q4 results on Thursday, with results in line with analyst expectations. While its attrition cooled down in line with that of its peers TCS and Infosys, it also guided for 6-8% revenue growth, nearly half of its FY23 growth of 13.7%. <cmsannotation type="cmsannotation" annotationid="Global markets in the red" comment="subhead" text="Global markets in the red">Global markets in the red</cmsannotation> Markets in the US closed in the red on Thursday, with Dow Jones declining 0.33% while S&amp;P 500 fell 0.6%. The tech-heavy Nasdaq was down 0.8%. Asian markets were largely in the red, too, on Friday morning. KOSPI declined the most at 0.72%, while Hang Seng was a close second with a fall of 0.67%. Shanghai Composite was down 0.54%, while Taiwan Weighted was down 0.24%. Nikkei 225 was flat. Gold prices edged up a little to INR 60,508 per 10 grams ahead of the auspicious occasion of Akshay Tritiya which sees an increase in purchase of the yellow metal. Crude oil prices continued to cool down, with Brent crude now hovering around the $81 per barrel level. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> HCL Technologies: The IT company’s revenue grew 13.7% in FY23 in constant currency terms and also met its FY23 revenue forecasts as it had guided it to be anywhere between 13.5-14%. Its operating margin fell sharply in Q4 to 18.1% in Q4 from 19.6% in Q3. ICICI Life Insurance: The insurer has reported a 27% growth in net profit at ₹235 crore as compared to ₹185 crore in the previous year period aided by a strong growth in value of new business. <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword>: Billionaire Anil Agarwal owned company has pledged 2.44% stake in group company <keyword id="115997" type="General" weightage="80" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword> to raise ₹1,500 crore as it is struggling to meet its debt obligations. With this, Vedanta’s pledged shares in Hindustan Zinc rose to 91.35% or about 59.3% of the company’s overall shares. Rail Vikas Nigam: The consortium of the company and Siemens received two separate orders from Gujarat Metro Rail for phase 1 of Surat Metro and phase 2 of Ahmedabad metro. Earnings today: Reliance Industries, Hindustan Zinc, Aditya Birla Money, Tejas Networks, Bheema Cements, Metalyst Forgings among companies to report March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-projects-its-revenue-to-grow-between-6-8-in-fy24/articleshow/99644337.cms">HCL Tech projects its revenue to grow between 6-8% in FY24</a> <a href="https://www.businessinsider.in/finance/news/here-are-the-many-ways-you-can-invest-in-gold-this-akshaya-tritiya/articleshow/99635639.cms">Here are the many ways you can invest in gold this Akshaya Tritiya</a> <a href="https://www.businessinsider.in/business/corporates/news/sbi-icici-bank-ongc-tata-motors-bpcl-will-drive-niftys-earnings-in-q4-2022-23/slidelist/99632153.cms">5 companies that will drive Nifty’s earnings in Q4</a>

Sensex, Nifty50 edge lower amid negative global cues: Realty, metal and auto stocks decline

<ul><li>In December, <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> deployed ₹14,700 crore in the secondary market.</li><li>Mutual funds participated in the IPO of five of the seven companies that debuted on the stock exchanges during December.</li><li>Key stocks that mutual funds bought in the month of December include HDFC, Reliance Industries and Maruti Suzuki.</li><li>While smallcap funds and midcap funds witnessed highest flows during December, multicap, largecap , flexicap and focused schemes were out of flavour as they either saw outflow or negligible inflows.</li><li>SIP inflows hit an all-time high of ₹13,573 crore in December. </li></ul>In December, mutual funds deployed ₹14,700 crore in the secondary market while foreign institutional investors (FIIs) sold ₹6,300 crore, says a report by Nuvama Institutional Equities (previously known as Edelweiss Institutional Equities). Mutual funds have also participated strongly in initial public offerings (IPOs) in December – investing in five of the seven initial public offers that made their debuts on the stock exchanges during the month. The fund houses deployed ₹440 crore in Kfin Technologies, ₹150 crore in Sula Vineyards, ₹120 crore in Landmark Cars, ₹100 crore in Elin Electronics and ₹20 crore in Radiant Cash Management. Inflows into equity mutual fund schemes also more than tripled to ₹7,303 crore in December, from ₹2,258 crore in November, according to Association of Mutual Funds in India (AMFI). This means that inflows into equity MFs have been positive for 22 months straight now. Key stocks that mutual funds bought in the month of December include HDFC, Reliance Industries and Maruti Suzuki while they trimmed their holdings in Axis Bank, HCL Technologies and ICICI Bank, as per Nuvama. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key deductions by MFs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC (₹2,410 crore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank (₹1,330 crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries (₹1,890 crore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies (₹830 crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki (₹1,670 crore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank (₹570 crore) </td></tr></tbody></table>(Source: Nuvama Institutional Equities) While smallcap funds and midcap funds witnessed highest flows for the month, multicap, largecap, flexicap and focused schemes were out of flavour with these witnessing either outflows or negligible inflows. This has been the trend for quite a few months now, says Nuvama. Strong inflows in mutual funds is because of consistent commitment made by retail investors through systematic investment plans (SIPs). The number of SIP accounts in the industry reached 6.12 crore in December against 6.04 crore in November. In fact, SIP inflows are at an all-time high, hitting ₹13,573 crore in December. Meanwhile, the net assets under management (AUM) of the mutual fund industry grew to ₹39.88 lakh crore from ₹37.72 lakh crore last year. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions in Midcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key reductions in Midcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions in Smallcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key reductions in Smallcap by MFs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ajanta Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sapphire Foods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amara Raja Batteries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Stainless </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Gas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KFin Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Praj Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramco Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GMM Pfaudler </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eris Lifesciences </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Finance Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Voltas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>(Source: Nuvama Institutional Equities) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hcl-tech-lowers-revenue-guidance-for-fy23-to-13-5-14-q3-revenue-and-profit-growth-beat-expectations/articleshow/96944379.cms">HCL Tech lowers revenue guidance for FY23 to 13.5-14%, Q3 revenue and profit growth beat expectations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations</a>

MFs add HDFC, Reliance Industries, KFin Tech, Sula Vineyards in December

Benchmark <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends. Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green. The index opened lower at 60,990.05 but later regained foot to touch a high of 61,352.55 in day trade. The broader Nifty of NSE rose by 86 points or 0.48 per cent to settle above the 18,000-mark at 18,015.85, following gains in RIL, Tech Mahindra and Adani Enterprises. Among Sensex stocks, Tech Mahindra rose the most by 5.79 per cent. Index major Reliance Industries spurted 2.22 per cent, while Bajaj Finserv, Bharti Airtel, Tata Steel, M&amp;M, Nestle Industries, HCL Tech, Kotak Bank, Tata Motors, ICICI Bank and Titan also advanced. Hindustan Unilever fell the most by 1.22 per cent. ITC, Sun Pharma, L&amp;T, HDFC twins and IndusInd Bank were among the major losers. In the broader market, the BSE midcap index advanced 0.69 per cent while the smallcap index rose by 0.36 per cent. Meanwhile, Asian and European stocks were mixed after US inflation fell less than expected, raising expectations of aggressive rate hikes by the US Federal Reserve. In Asia, the Shanghai Composite Index lost 0.4 per cent, the Nikkei 225 in Tokyo declined 0.4 per cent and The Hang Seng in Hong Kong dropped 1.4 per cent. In Europe, In early trading, the FTSE 100 in London declined 0.1 per cent while the DAX in Frankfurt gained 0.4 per cent and the CAC 40 in Paris rose 0.7 per cent. Wall Street futures were lower as inflation slowed to 6.4 per cent in January from the previous month's 6.5 per cent against the street estimate of 6.2 per cent. Oil prices also dropped on concerns over weak demand with the Brent futures declining by 1.3 per cent to USD 84.45 per barrel. Foreign Portfolio Investors were net buyers, acquiring shares worth Rs 1,305.30 crore on Tuesday. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hindenburg-effect-four-out-of-nine-adani-group-stocks-hit-lower-circuits-as-sell-off-continues/articleshow/97945852.cms">Hindenburg Effect: Four out of nine Adani group stocks hit lower circuits as sell-off continues</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/infra-housing-projects-to-keep-indias-cement-demand-strong-moodys/articleshow/97946657.cms">Infra &amp; housing projects to keep India’s cement demand strong: Moody’s</a>

Sensex, Nifty rise for 2nd day on gains in oil, IT & banking shares

<ul><li>Key stocks that <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> bought during March include Reliance Industries, Infosys and HDFC.</li><li>Inflows into equity mutual funds have been constantly rising with it reaching 12-month high in March 2023.</li><li>The net assets under management (AUM) of the mutual fund industry stood at ₹39.42 lakh crore as on March 31, 2023.</li></ul>As inflows into equity mutual funds continue to rise, mutual funds were able to deploy ₹20,700 crore in the Indian secondary market, said a report by Nuvama Institutional Equities (previously known as Edelweiss Institutional Equities). Inflows into equity mutual funds have been constantly rising with it reaching 12-month high in March 2023 at ₹20,534 crore. They were at ₹15,685 crore in February and ₹12,546 crore in January, according to AMFI, the regulatory body for the mutual funds sector. The net assets under management (AUM) of the mutual fund industry stood at ₹39.42 lakh crore as on March 31, 2023. Key stocks that mutual funds bought during March include Reliance Industries, Infosys and HDFC, as per Nuvama. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions by MFs in large cap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key deductions by MFs in large cap </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cements </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SRF </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Max Healthcare Institute </td></tr></tbody></table>(Source:Nuvama Institutional Equities) MF bets on mid caps pay off A recent analysis of the <a href="https://www.businessinsider.in/personal-finance/news/super-20-equity-funds-that-have-managed-to-not-only-beat-benchmarks-but-delivered-the-best-returns-in-the-last-one-year/articleshow/99388892.cms">Value Research report shows </a>most funds in the list of top 20 best performing mutual funds in the last one year were from the mid cap category that have higher returns. Note that interest in <a href="https://www.businessinsider.in/stock-market/news/mutual-funds-raise-bets-on-mid-small-cap-stocks-amid-volatile-markets/articleshow/98516460.cms">mid caps has been growing </a>in the last three quarters as it saw inflows of ₹14,632 crore at a time when large-cap funds witnessed inflows worth less than half of it at ₹6,392 crore in the last three quarters. Here are stocks under the mid and small cap category that mutual funds bought and sold in March, 2023. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions in Midcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key reductions in Midcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key additions in Smallcap by MFs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key reductions in Smallcap by MFs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC AMC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kirloskar Oil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zydus Wellness </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Patanjali Foods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Patterns </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quess Corp </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biocon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">National Aluminium Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divgi TorqTransfer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalpataru Power </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra CIE </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Container Corporation of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>(Source:Nuvama Institutional Equities) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-sees-4-7-revenue-growth-in-fy24-after-it-misses-its-own-fy23-revenue-guidance/articleshow/99467637.cms">Infosys sees 4-7% revenue growth in FY24 after it misses its own FY23 revenue guidance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inflows-into-equity-mfs-hit-1-year-high-in-march-on-robust-sip-and-thematic-fund-investments/articleshow/99466043.cms">Inflows into equity MFs hit 1-year high in March on robust SIP and thematic fund investments</a>

Mutual funds deploy ₹20,700 crore in March with huge buying in RIL, Infosys & HDFC

<ul><li><keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.53% or 320 points higher at 60,942 while <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended up 0.50% or 91 points at 18,119.</li><li>Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra were top gainers on the 50 stock index Nifty50.</li><li>The range-bound movement is likely to continue in the run-up to the Budget 2023-24, according to analysts.</li></ul>India’s benchmark indices Sensex and Nifty50 ended higher on Monday led by gains in shares of IT, pharmaceuticals, FMCG companies and positive cues from global markets. Sensex closed 0.53% or 320 points higher at 60,942 while Nifty50 ended up 0.50% or 91 points at 18,119. Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra were top gainers on the 50 stock index Nifty50. On Friday, Sensex and Nifty50 closed in the red – while Sensex declined 237 points to close at 60,622, Nifty50 fell 80 points to close at 18,028. The rangebound movement is likely to continue in the run-up to the Budget 2023-24, according to analysts. Top gainers and losers on Nifty500 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Torrent Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.52% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infibeam Avenues </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.82% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhivery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.58% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Can Fin Homes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.55% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.17% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajesh Exports </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.19% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE, as on January 23, 2023 “Markets maintained the upward momentum through the trading session on positive cues from Asian and European indices. IT stocks emerged as the star performers after getting hammered in recent sessions on worries global IT spending may moderate this year due to likely slowdown in key economies. If the optimism continues, we may see some pre-budget rally in the truncated week,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities. Prices of crude oil continued to edge up – Brent crude oil prices were up 0.7% on Monday, at $88.24 per barrel. On the other hand, the rupee fell 21 paise against the US dollar to close at 81.38, reversing its gains from this morning when it appreciated 19 paise to fall below the 81 mark for the first time in two months. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.74% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Private Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.58% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.44% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.40% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.63% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE, as on January 23, 2023 Besides, investors also took some support from strong corporate earnings reported by banks and expectations of a less aggressive rate hike going ahead. “Market breadth tilted in favour of bulls lifted by financial stocks, amid positive cues from global peers. Strong corporate earnings reported by banks boosted appetite for financial stocks. Positive global markets owing to possibility of a less aggressive rate hike, further added colour,” said Vinod Nair, head of research at Geojit Financial Services. Positive cues in global markets Markets in the US snapped a three-day losing streak on Friday to close in the green, boosted by Netflix’ earnings and job cuts announced by US tech companies. While the S&amp;P 500 closed 1.89% up, the Dow Jones Industrial Average gained 1%. The tech-heavy Nasdaq posted a gain of 2.66%. This comes even as the US government hits its $31.4 trillion debt ceiling on Thursday, with the administration now using extraordinary cash measures to stave off a crisis. In Asia, while some key major markets like China were closed for holidays, Japan’s Nikkei 225 index ended in the green with a gain of 1.33%. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/ai-as-a-service-to-free-speech-platforms-and-social-commerce-these-are-the-big-emerging-trends-of-2023/articleshow/97172911.cms">AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023</a> <a href="https://www.businessinsider.in/business/corporates/news/rils-q3-net-profit-stays-flat-at-15792-crore-retail-and-jio-deliver-while-o2c-drags-due-to-weak-demand/articleshow/97179878.cms">RIL’s Q3 net profit stays flat at ₹15,792 crore – retail and Jio deliver, while O2C drags due to weak demand</a> <a href="https://www.businessinsider.in/business/corporates/news/google-to-axe-12000-jobs-ceo-sundar-pichai-says-company-hired-for-a-different-economic-reality/articleshow/97176523.cms">Google to axe 12,000 jobs; CEO Sundar Pichai says company hired for a different economic reality</a>

Sensex, Nifty50 end higher led by gains in IT, pharma and FMCG stocks

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> ended 17.15 points or 0.03% lower at 60,910.28 while the 50-stock index <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed 9.80 points or 0.05% down at 18,122.50.</li><li>Global markets were mixed on Wednesday amid rising concerns of inflation surging as China announced relaxation of Covid restrictions.</li><li>Among sectoral indices pharma, metal, IT and banks ended in the red, while auto, energy, media and realty gained.</li></ul>India’s benchmark indices Sensex and Nifty50 closed marginally lower after a choppy session on Wednesday amid increased volatility and mixed global cues. Sensex ended 17 points or 0.03% lower at 60,910 while the 50-stock index Nifty50 closed 10 points or 0.05% down at 18,123. Among sectoral indices pharma, metal, IT and banks ended in the red, while auto, energy, media and realty gained. <div type="image" title="sectoral-indices-19" msid="96570826" hostid="261"></div> “Markets wavered between gains and losses with investors taking their position around the flatline as mixed global cues troubled them to take a firm one-sided move. US stocks were weak as the trade deficit data suggested strength in the economy, raising concerns about the Fed's tightening stance. However, steps toward reopening the Chinese economy increased the prospects of demand recovery,” said Vinod Nair, head of research at Geojit Financial Services. Equity markets around the world were mixed amid rising concerns of inflation surging as China announced relaxation of Covid restrictions. US treasury yields also rose on this account, adding to the pressure on equity markets in a holiday-shortened week. “Global equities traded sideways on Wednesday after China took further steps towards reopening its Covid-battered economy; however hopes for an economic rebound were moderated by near-term worries over rising cases,” said Deepak Jasani, head of retail research at HDFC Securities. In the Nifty50 index, Titan, M&amp;M and Power Grid Corporation of India were top gainers while Bharti Airtel, Apollo Hospitals and Bajaj Finserv were amongst the top losers. Here are top moving stocks on Nifty500 <div type="image" title="daily-profit-loss-19" msid="96570846" hostid="261"></div> Among individual stocks, shares of Rail Vikas Nigam hit an upper circuit of 5% after the company received a letter of award for appointment as project implementation agency for the UTF Harbor project in Maldives. <a href="https://www.businessinsider.in/stock-market/news/spicejet-inox-green-ntpc-among-stocks-to-watch-out-for/articleshow/96532933.cms">Earlier yesterday</a>, Sensex rose 0.6% to close at 60,927 points, while Nifty50 gained 0.65% to close at 18,132 points, led by a rally in metal and realty stocks. Rupee closed flat against the US dollar on Wednesday, at 82.86. “The Indian rupee erased opening losses as domestic equities strengthened ahead of the year-end adjustment. Today’s gain was followed by the year-end fixing and lower crude oil prices,” said Dilip Parmar, research analyst at HDFC Securities. Crude oil prices cooled down a little, falling 0.64% to $84.09 from $84.82 per barrel earlier in the morning today. Russia, one of the major crude oil suppliers, has announced a ban on supply of crude oil to countries that imposed the price cap. The ban will go into effect in February 2023. The benchmark S&amp;P 500 fell 0.4%, while Dow Jones Industrial Average was marginally up by 0.11%. The tech-heavy Nasdaq fell 1.38%, however, led by a rout in the Tesla stock which continued to decline and fell 11%. Markets in Asia were mixed, too, with the Hang Seng index ending with gains of 1.56% gains while the Taiwan Weighted index declined 1.08%, KOSPI fell 2.24%, Nikkei 225 declined 0.41%, and the Shanghai Composite index closed 0.26% lower. Foreign institutional investors (FII) were net sellers on Wednesday pulling out ₹872.59 crore while domestic institutional investors (DII) bought ₹372.87 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/psus-stage-a-comeback-in-2022-and-the-future-looks-healthy-say-analysts/articleshow/96522444.cms">Public sector enterprises stage a comeback in 2022 thanks to PSU banks – the future looks healthy, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-sectoral-indices-of-nifty-in-2022/articleshow/96448669.cms">Best and worst performing sectoral stock market indices in 2022</a> <a href="https://www.businessinsider.in/personal-finance/news/gold-set-to-shine-bright-in-2023-as-world-heads-towards-recession/articleshow/96407944.cms">Gold set to shine bright in 2023 as world heads towards recession</a>

Sensex, Nifty50 end lower amid increased volatility and mixed global cues – pharma, metal, IT stocks decline

<ul><li><keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> companies’ December-quarter revenue is likely to grow 16% over last year, says a report by Phillip Capital.</li><li>Analysts expect it to be a tepid quarter for most sectors, including infrastructure, specialty chemicals, IT and metals.</li><li>However, analysts say banks will continue to outperform with strong tailwinds for the sector despite global challenges.</li><li>NBFCs, FMCG and autos are likely to report moderate to robust growth in the quarter.</li></ul>Yet another earnings season has begun, as always, with IT services companies reporting a mixed set of numbers. That pretty much sets the tone of the quarter as strategists expect Nifty50 companies to report on-year revenue growth of 16% and a 10% growth in net profit. Analysts expect it to be a tepid quarter for most sectors, including infrastructure, specialty chemicals, IT and metals. On the other hand, sectors like banks, NBFCs, FMCG and autos are likely to report moderate to robust growth in the quarter. “Q3FY23 is expected to be a soft quarter along with slight margin improvement. We will be watching for management commentary on India and global demand outlook,” says a report by Phillip Capital. “We are of the view that the financial sector will continue to perform while consumption space will remain under pressure. Investment space is expected to perform well led by public and private capex expansion.” Seasonally weak quarter for IT, Reliance to have a strong quarter <a href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">TCS has kicked off </a>the earnings seasons with lower-than-estimated growth – it reported a 3.98% sequential growth in net profit at ₹10,846 crore in the December quarter. On the other hand, Infosys beat analysts’ expectations with a 20.2% y-o-y increase in its revenue to ₹38,318 crore in Q3 and raised its full-year revenue growth guidance. <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-lowers-revenue-guidance-for-fy23-to-13-5-14-q3-revenue-and-profit-growth-beat-expectations/articleshow/96944379.cms">HCL Technologies </a>reported a 19.6% year-on-year growth in its topline to ₹26,700 crore, while its net profit grew 19% YoY to ₹4,096 crore, beating analyst <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/hcl-tech-to-announce-q3-results-on-thursday-heres-a-preview-of-what-to-expect/articleshow/96915899.cms">expectations</a> in both the areas. Analysts had expected muted revenue growth from the IT services sector in the third quarter on account of it being a seasonally weak quarter. “The December quarter is a seasonally weak quarter mainly due to higher furloughs. In addition, macro challenges are leading to weakness in mortgage, luxury retail, high-tech and slowdown in 5G capex,” said a report by IDBI Capital. Furlough is a leave of absence from work for which the employee is not paid. Meanwhile, the oil-to-telecom conglomerate Reliance Industries is expected to announce a robust quarter due to strong recovery in the retail segment along with decent uptick in other segments. “We expect Reliance Industries Limited’s (RIL) consolidated PAT to increase by 27% q-o-q to ₹17,316 crore due to improvement in standalone earnings on better refining/petchem margin, decent growth at Jio and strong recovery for retail business,” said a report by Sharekhan. Banks to see strong December quarter on higher loan rates Net interest margin (NIM) will see sequential improvement as lending rates have risen in line with RBI’s repo rate increases, say analysts. Since May last year, <a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-35-bps-taking-rates-to-a-high-of-6-25/articleshow/96045841.cms">RBI has hiked interest rates by 225 basis points so far</a>. While banks benefited from rate hikes in Q2, analysts see more room for a <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">further ramp up in Q3 </a>as well. “We believe business momentum for banks is expected to remain strong, led by strong tailwinds in the sector and is likely to sustain over the medium term as higher inflation gets tamed, revival of the capex cycle, higher consumption, and increased business confidence,” said a report by Sharekhan. “Strong asset quality outlook, additional provision buffers, higher PCR (provision coverage ratio) levels, increased capital buffers, and core credit cost undershooting augur well for the sector,” added the report. FMCG may get a boost from price hikes The fast-moving consumer goods (FMCG) sector is expected to pass the quarter with flying colours on the back of price hikes amid elevated inflation. “Most of the consumer companies are expected to report decent revenue growth; however, a majority of revenue growth will be driven via price hikes, which companies have taken in past quarters to combat unprecedented raw material inflation. Rural demand continues to remain muted. Delay in winter to impact winter portfolio,” said Phillip Capital. “We expect our FMCG universe to deliver sales/ EBITDA/ PAT growth of 11%/ 7%/ 8% YoY in 3QFY23. Sustained inflation impacted both volume offtake and margins,” said a report by Antique Stock Broking. ITC is seen reporting strong growth across businesses with the cigarette business registering a double-digit volume growth. Detergents will likely drive Hindustan Unilever's performance, with margins recovering q-on-q due to a moderation in palm oil - a key input. Autos to reap benefits of festive quarter Despite the near-term challenges of semiconductor chip shortage and geopolitical challenges, analysts are optimistic about autos based on high demand for passenger and commercial vehicles. “Q3FY2023 is expected to be a strong quarter with a 20.4% y-o-y increase in revenue. Margins are expected to show improvement on a q-o-q basis, led by operating leverage benefits, cost rationalisation, and softening commodity prices,” said a report by Sharekhan. Further, strong demand, easing supply constraints, and falling commodity prices are likely to provide relief to automobile original equipment manufacturers (OEMs) and ancillary companies. Ferrous players expected to outperform non-ferrous companies Ferrous players – Tata Steel and JSW Steel – are expected to post better Q3FY23 earnings compared to non-ferrous companies, which include Hindustan Zinc, Hindalco Industries and Vedanta. “For Q3FY23, we expect steel producers to post higher EBITDA QoQ primarily due to sharp fall in coking coal and iron ore price offsetting decline in sales volume sequentially,” said a report by Centrum broking firm. After a challenging first half of the financial year, the domestic steel industry should witness a better second half, says Elara Capital. “The recent removal of exports duty and the likely rise in domestic demand led by the start of the busy season should lead to healthy volume for domestic steelmakers,” the report said. For non-ferrous companies, there are expectations of a marginal fall in quarterly operating profits due to fall in LME (London Metal Exchange) aluminium and zinc prices. Cement sector: Easing input costs in 2H FY23 to drive earnings Analysts say the cement industry is seeing a healthy demand environment with improving cement process and decline in pet coke and coal prices. “Weighted average EBITDA/tonne is expected to recover sharply from a multi-quarter low to ₹765 owing to q-o-q improvement in cement prices, higher demand, and easing power and fuel costs. Hence, operating profits and net profits are expected to rise by 50.9% q-o-q and 77.8% y-o-y, respectively,” said a report by Sharekhan providing estimates for cement companies. The report said that it expects cement demand to remain healthy in the second half of FY23 alongside improving operating margins. Further, analysts will eye commentaries on ongoing and future capex plans. BPCL, HPCL, IOC to benefit from falling oil prices Oil marketing companies – BPCL, HPCL and Indian Oil Corporation – will likely benefit from Brent crude oil prices being on a downtrend since the last couple of months due to a lockdown in China, one of the biggest consumers of oil. “We expect OMCs’ operating performance would improve on sequential basis in Q3FY23 as marketing under recoveries would reduce sharply supported by a ~$11/bbl q-o-q decline in crude oil price while there has been no change in the retail petrol/diesel price,” said a report by Sharekhan. The report added that it expects all three OMCs to report positive EBITDA – Indian Oil (₹ 5,836 crore), BPCL (₹3,112 crore) and HPCL (₹629 crore) in Q3FY23 compared to negative EBITDA of ₹8,841 crore, ₹4,148 crore and ₹1,859 crore in Q2FY23, respectively. Under recoveries is the gap between the cost and the selling price of fuel. If the selling price is lower than the cost price, higher the under recoveries. Thus, a fall in crude oil prices benefits these companies at a time when there has been no hikes in petrol and diesel prices. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hcl-tech-lowers-revenue-guidance-for-fy23-to-13-5-14-q3-revenue-and-profit-growth-beat-expectations/articleshow/96944379.cms">HCL Tech lowers revenue guidance for FY23 to 13.5-14%, Q3 revenue and profit growth beat expectations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations</a>

Nifty50 set to clock 10% increase in profit in Q3; banks likely to outperform

<ul><li>The 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed the day at 63,099, up 0.67%, while the 50-stock index <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed at 18,758, up 0.75%.</li><li>Earlier in the day, the 30-stock Sensex hit a high of 63,303, while the 50-scrip Nifty50 touched 18,816.</li><li>This is the seventh consecutive day of gains for the Sensex and the Nifty50.</li><li>Analysts are now expecting a further rally in the market that will take the Nifty50 past the 19,000 mark.</li><li>Amongst the most active stocks on the Nifty50 index today were Reliance Industries, <keyword id="6653" type="General" weightage="20" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, Infosys, HDFC, and HDFC Bank.</li></ul>India’s benchmark indices Sensex and Nifty50 hit record highs for the third consecutive session on Wednesday, crossing their respective psychological barriers of 63,000 and 18,750, as the market found support from strong fundamentals and foreign inflows. The market was also buoyed by <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">hopes</a> that the Reserve Bank of India would reduce the quantum of its interest rate hike next week. Moderating inflation, cooling crude prices and easing commodity prices are likely to influence the central bank to ease up on the rate hikes, analysts said. Foreign institutional investors (FII) were net buyers on Wednesday, ploughing in ₹9,010 crore, while domestic institutional investors (DII) sold equities worth ₹4,056 crore. Overall, FIIs invested ₹22,546 crore in November in equities, while DIIs sold ₹6,301 crore. Earlier in the day, the 30-stock Sensex hit a high of 63,303, while the 50-scrip Nifty50 touched 18,816. The Sensex closed the day at 63,099, up 0.67%, while the 50-stock index Nifty50 closed at 18,758, up 0.75%. This is the seventh consecutive day of gains for the two indices. In the last five trading sessions, the Sensex has gained 2.16% while the Nifty50 went up by 2.49%. “The beauty of the current rally is that the market is finding support from new sectors every day. In the second half of 2022, there is a clear trend of outperformance of Indian equity markets. This trend is likely to continue despite the fact that we are trading at expensive valuations compared to most of our global peers, as our fundamentals are strong and we have strong support from domestic money,” said Santosh Meena, head of research at Swastika Investmart. Analysts are now expecting a further rally in the market that will take the Nifty50 past the 19,000 mark. “The rotational buying across sectors is fuelling the recent surge while the global markets are not offering any clear signal. We’re now eyeing a new milestone of the 19,000 mark in Nifty,” said Ajit Mishra, VP - technical research at Religare Broking. All sectoral indices closed the day in the green today, with metals, auto, FMCG and realty being the top gainers. PSU banks was the only sectoral index to post a decline today. Most of the Asian markets gained on Wednesday, with Hong Kong’s Hang Seng gaining the most at 2.33%, followed by Korea’s KOSPI at 1.61%. Brent crude oil gained over 2.2%, hovering around $86.1 per barrel. Amongst the most active stocks on the Nifty50 index today were Reliance Industries, ICICI Bank, Infosys, HDFC, and HDFC Bank. Meanwhile, the top gainers on the 50-stock index were Mahindra &amp; Mahindra, Hindalco Industries, Grasim Industries, SBI Life Insurance and UltraTech Cement Top gainers and losers on the NSE on Wednesday <div type="image" title="daily-profit-loss-7" msid="95887613" hostid="261" sizebytes="52380"></div> All in all, 13 stocks hit fresh 52-week highs during the day, including ICICI Bank, Britannia, Apollo Tyres, Indian Railway Finance Corporation (IRFC) and Raymond. The Rupee posted a big gain over the US dollar, rising 34 paise to close at 81.38. It had closed at 81.72 against the dollar on Tuesday. Earlier, analysts at ICICI Direct <a href="https://www.businessinsider.in/finance/news/worst-largely-over-for-rupee-may-appreciate-towards-80/usd-by-end-of-2022-23-says-icici-direct/articleshow/95878404.cms">said</a> that the worst might be over for the Rupee, and that it could appreciate to 80 per US Dollar by the end of FY23. On the BSE, 1,993 stocks moved higher while 1,486 closed lower on Wednesday. <div type="image" title="sectoral-indices-7" msid="95887643" hostid="261" sizebytes="47606"></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/article/its-not-just-mercedes-even-bank-deposits-are-competing-with-equities/articleshow/95879457.cms">It’s not just Mercedes, even bank deposits are competing with equities</a> <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">Slower rate hikes on the cards, say analysts ahead of RBI’s December monetary policy meet</a> <a href="https://www.businessinsider.in/india/news/government-listed-private-companies-capex-to-touch-21-lakh-crore-in-fy23-icici-securities/articleshow/95858117.cms">Capex cycle to touch ₹21 lakh crore in FY23, but there's a catch</a>

Sensex, Nifty50 rewrite all-time highs yet again – RIL, HDFC twins most active, ICICI Bank touches new 52-week high

Benchmark indices maintained their winning momentum for the fourth day running on Tuesday, helped by a rally in Asian and European markets and continuous foreign fund inflows. The 30-share BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> climbed 374.76 points or 0.62 per cent to settle at 61,121.35. During the day, it jumped 543.14 points or 0.89 per cent to 61,289.73. On similar lines, the broader NSE Nifty advanced 133.20 points or 0.74 per cent to end at 18,145.40. From the Sensex pack, NTPC, PowerGrid, Dr Reddy's, Infosys, Tata Consultancy Services, UltraTech Cement, HCL Technologies, Sun Pharma and Asian Paints were the major winners. Axis Bank, Maruti, Reliance Industries and Tata Steel were among the laggards. Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended higher. Stock exchanges in Europe were trading in the green in mid-session deals. Wall Street had ended lower on Monday. International oil benchmark Brent crude was trading 1.45 per cent higher at USD 94.16 per barrel. Foreign Institutional Investors (FIIs) were net buyers on Monday as they bought shares worth Rs 4,178.61 crore, as per exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-ipos-to-raise-over-4600-crore-this-week/articleshow/95231537.cms">Four IPOs to raise over ₹4,600 crore this week</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-stock-climbs-over-5-after-it-reports-5-2-crore-profit-in-q2/articleshow/95229929.cms">Nykaa stock climbs over 5% after it reports ₹5.2 crore profit in Q2</a>

Sensex climbs 375 points amid firm global markets

Mumbai, Benchmark equity indices Sensex and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> eked out marginal gains on Wednesday following late buying in capital goods, auto and utility stocks as investors adopted a cautious approach ahead of the US Fed interest rate decision. The 30-share BSE Sensex advanced 33.57 points or 0.05 per cent to settle at 69,584.60, driven by late buying. During the day, it fell 450.47 points or 0.64 per cent to 69,100.56. The Nifty gained 19.95 points or 0.10 per cent to 20,926.35. "The market's focus now shifts to the upcoming FOMC (Federal Open Market Committee) meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY 2024," said Vinod Nair, Head of Research at Geojit Financial Services. Among the Sensex firms, NTPC, Power Grid, Mahindra &amp; Mahindra, Larsen &amp; Toubro, <keyword id="44642" type="General" weightage="80" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, <keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword> and <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> were the major laggards. In the broader market, the BSE midcap gauge climbed 1.06 per cent and smallcap index gained 0.73 per cent. Among the indices, services climbed 1.50 per cent, realty jumped 1.45 per cent, utilities (1.33 per cent), power (1.25 per cent), auto (1.17 per cent) and consumer discretionary (0.85 per cent). In contrast, IT, telecommunication, bankex, oil &amp; gas and teck were the laggards. "Asian shares were mixed while European markets were up on Wednesday, as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year," said Deepak Jasani, Head of Retail Research, HDFC Securities. In Asian markets, Seoul, Shanghai and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. The US markets ended in positive territory on Tuesday. "Domestic equities were lacklustre ahead US Fed's decision late today. Nifty remained in negative territory for the most part of the day but last hour buying helped indices to close in green with marginal gains of 20 points at 20,926 levels," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said. Global oil benchmark Brent crude declined 0.27 per cent to USD 73.04 a barrel. Foreign institutional investors (FIIs) were buyers on Wednesday as they bought equities worth Rs 4,710.86 crore, according to exchange data. Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. After a two-day rally, the BSE benchmark fell by 377.50 points or 0.54 per cent to settle at 69,551.03 on Tuesday. The Nifty declined 90.70 points or 0.43 per cent to 20,906.40.

Stock markets settle marginally higher on late buying; L&T, RIL advance

<ul><li>Shares of oil exporting companies Reliance Industries and state-owned ONGC top gainers today.</li><li>This comes as the government has lowered the recently implemented windfall tax on diesel and aviation fuel shipments offering relief to fuel exporters and producers.</li><li>Government reduces tax on export of petrol and aviation turbine fuel (ATF) from ₹6 a litre to ₹4 along with tax on diesel to ₹11 from ₹13 per litre.</li></ul>Shares of Reliance Industries surged nearly 3% while ONGC rallied nearly 5% in the early hours of trade, as the government provided a relief by lowering taxes on July 19. Less than a month after levying these <keyword id="14086587" type="General" weightage="20" keywordseo="windfall-taxes" source="Orion">windfall taxes</keyword> on oil producers and exporters, the government had eased them yesterday. The government, which had promised that it will review these taxes regularly, reduced tax on export of petrol and aviation turbine fuel (ATF) from ₹6 a litre to ₹4 along with tax on diesel to ₹11 from ₹13 per litre. Further, the ₹23,250 per tonne additional tax on crude oil produced domestically has been cut to ₹17,000 per tonne. “A quicker than expected restart to reverse the windfall taxes on the sector should normalize equity multiples steadily higher. While windfall taxes are not yet zero, we believe government action provides clarity on the path ahead. RIL, ONGC and OIL are key beneficiaries,” says Morgan Stanley. What is windfall tax and why was it imposed? Windfall tax is a one-off tax imposed by the government on companies or sectors that have made unexpectedly high profits due to favourable market conditions. Crude oil prices have been hovering over $120 per barrel for the last three months – going as high as $130 per barrel in early March. Windfall taxes were imposed by the government to gain from windfall gains that oil producers were minting when international crude oil and derivatives spiked. An export tax was also slapped on refiners who exported petrol and diesel abroad. The move to slash the taxes came after crude oil prices fell significantly in July on fears of a possible recession and has been range bound between $100-105 per barrel. The decision has brought a relief rally to shares of ONGC and RIL who have been under pressure in the last couple of weeks. Analysts believe the move will boost equity prices of these companies. “Reliance, OIL and ONGC will see reduction in overhang and equity valuations should start pricing in high sustainable energy margins as government intent gets clear. The two should imply 25-40% upside to equities as energy markets are expected to remain tight despite the current volatility in oil and reduction in global fuel margins from peak levels,” said Morgan Stanley. In the fiscal year ended March 2022, the telecom-retail-oil giant RIL generated about 41% of consolidated pre-tax profits from its oil-to-chemicals business. Gross refining margins of RIL are estimated at nearly $13 per barrel while that of ONGC is estimated to see profit per barrel at $25, i.e.20% above last year's levels, as per the brokerage report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fixed-deposits-back-in-vogue-as-crypto-stock-market-get-hit-by-global-headwinds/articleshow/92983763.cms">Fixed deposits back in vogue as crypto, stock market get hit by global headwinds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ather-450x-gen-3-new-electric-scooter-debuted-today/articleshow/92985192.cms">Ather’s Ravneet Phokela on the company’s new scooter, affordability, EV safety and more</a>

You Searched For "RIL share price" and got 13 results

Sensex jumped 234 points, Nifty rallied 111 points with buying in IT counters, RIL

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Mutual funds deploy ₹20,700 crore in March with huge buying in RIL, Infosys & HDFC

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Sensex, Nifty50 end lower amid increased volatility and mixed global cues – pharma, metal, IT stocks decline

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Sensex climbs 375 points amid firm global markets

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Stock markets settle marginally higher on late buying; L&T, RIL advance

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RIL, ONGC set to move higher as government unwinds windfall taxes, says Morgan Stanley

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Trillion Dollar Club: There are now 8 cos that generate ₹1 lakh cr quarterly revenues

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