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Benchmarks trade flat; Asian markets mostly edge higher

Published on Jan 03, 2023 13:39

The key equity barometers traded near the flat line, with some negative bias in afternoon trade. The Nifty traded below the 18,200 level after hitting the day`s high of 18,240.40 in the mid-morning trade.

At 13:38 IST, the barometer index, the S&P BSE Sensex, was down 13.6 points or 0.02% to 61,154.19. The Nifty 50 index lost 2.30 points or 0.01% to 18,195.15.

HDFC Life (up 4.87%), SBI Life (up 2.60%), Axis Bank (up 2.07%), TCS (up 1.37%) and Tech Mahindra (up 1.15%) were the top Nifty gainers.

Meanwhile, Britannia (down 1.67%), Mahindra & Mahindra (down 0.99%), Reliance (down 0.86%), Adani Enterprises (down 0.73%) and Hindustan Unilever (down 0.72%) were the top Nifty losers.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% while the S&P BSE Small-Cap index gained 0.18%.

The market breadth was positive. On the BSE, 1911 shares rose and 1501 shares fell. A total of 166 shares were unchanged.

Stocks in Spotlight:

Dabur India shed 0.54%. The company has completed the acquisition of 51% equity shareholding of Badshah Masala Private Limited from its shareholders upon fulfillment of terms and conditions as per SPA and SNA.

Hindustan Zinc gained 2.52%. The zinc miner said its mined metal production registered a marginal rise of 1% to 254,000 tonnes in Q3 FY23 as against 252,000 tonnes in Q3 FY22. The growth was mainly driven by higher ore production. Sequentially, it was lower by 1%, due to overall mined metal grades.

Welspun India lost 0.39%. The company said that it has prepaid term loans of Rs 45.80 crore as on 31 December 2022, along with other instalments which were due as the quarter end on standalone basis. The weighted average interest rate of the loans prepaid by the company was 8.30% per annum.

Oil and Natural Gas Corporation (ONGC) slipped 0.70%. The company said that the offshore drilling Rig of the company - `Sagar Samrat` - has been commissioned as a mobile offshore production unit (MOPU) on 23 December 2022.

Global markets:

Asian markets traded mostly higher on Tuesday as the commenced the first trading week for the year.

Singapore`s economy saw full-year growth of 3.8% for 2022, according to data released by the Ministry of Trade and Industry on Tuesday. The economy grew 2.2% in the fourth quarter compared with a year ago, the slowest pace since mid-2021.

US stocks were shut on Monday on account of New Year holiday.

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