Nifty slips below 18050, Sensex sheds 200 pts in early trade on Wednesday Jan 25; Tata Motors, Maruti shares rise

2023-08-31

Domestic indices opened in the red on Wednesday with Nifty slipping below 18050 and Sensex trading below 60,800. The Nifty 50 fell 76.55 points or 0.42% to 18,041.75 and Sensex dropped 213.91 pts or 0.35% to 60,764.84. The top gainers of Sensex were Bharti Airtel (up 0.61%), Tata Steel (up 0.54%), Maruti Suzuki (up 0.48%), Tata Motors (up 0.48%) and ICICI Bank (up 0.36%) while UltraTech Cement (down 1.26%), State Bank of India (down 0.93%), HDFC Bank (down 0.95%), IndusInd Bank (down 1%) and Axis Bank (down 0.72%).

Maruti Suzuki shares rose 0.48 to Rs 8740.30 after the company reported over two-fold jump in its net profit to Rs 2,351.3 crore for the third quarter ended December 31, 2022, on account of robust sales aided by an enhanced product portfolio. The auto major had reported a net profit of Rs 1,011.3 crore in the October-December quarter of the previous fiscal, Maruti Suzuki India (MSI) said in a regulatory filing.

Sectoral Indices

The sectoral indices were trading broadly lower. Bank Nifty fell 0.78%, Nifty FMCG fell 0.26%, Nifty IT fell 0.60%, Nifty Pharma down 0.85%, Nifty PSU Bank 1,27% and Nifty Realty down 0.99% while Nifty Auto and Metal rose 0.08% and 0.02% respectively.

Asian and US stock markets

Asian Pacific shares traded mixed on Wednesday. In South Korea, the Kospi rose 1.37%, while the Kosdaq climbed 1.16% in its first hour of trade. Japan’s Nikkei 225 rose 0.54% and the Topix shed 0.06%. Australia’s S&P/ASX 200 declined 0.43% as investors await the release of the country’s inflation reading. Markets in China and Hong Kong are closed for a holiday.

The US markets ended mixed on Tuesday. The Dow Jones Industrial Average (DJIA) rose 104.40 points or 0.31% settling at 33,733.96, S&P 500 fell 2.86 pts or 0.07% at 4,016.95 and Nasdaq dropped 30.14 pts or 0.27% at 11,334.27.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 760.51 crore while domestic institutional investors (DII) bought shares worth a net Rs 1144.75 crore on Tuesday, January 24, 2023, according to the data available on NSE. For the month till January 24, FII sold shares worth a net Rs 20,860.49 crore while DII bought shares worth a net Rs 17,762.09 crore.

NSE F&O Ban

No stock/security has been put under the National Stock Exchange’s futures & options (FO) ban on Wednesday, January 25, 2023.

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