Indices pare early losses; Nifty above 18,100; PSU banks advance
Published on Jan 20, 2023 10:30
The domestic equity benchmarks pared all early losses and traded with small gains in morning trade. The Nifty marched above the 18,100 level. PSU bank shares advanced for the second day in a row.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 79.44 points or 0.13% to 60,937.87. The Nifty 50 index added 20.80 points or 0.11% to 18,128.65.
In the broader market, the S&P BSE Mid-Cap index fell 0.02% while the S&P BSE Small-Cap index gained 0.16%.
The market breadth was positive. On the BSE, 1,867 shares rose, and 1,311 shares fell. A total of 168 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 399.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 128.96 crore in the Indian equity market on 19 January, provisional data showed.
Reliance Industries (down 0.58%), HDFC Life Insurance Company (down 0.02%), JSW Steel (down 0.43%), LTIMindtree (up 0.05%), Union Bank of India (down 0.31%), Bandhan Bank (up 0.55%), RBL Bank (up 2.12%), Aether Industries (up 0.69%), Atul (0.19%), DCM Shriram (down 0.48%), Heritage Foods (up 2.38%), Indian Energy Exchange (down 0.69%), JSW Energy (down 0.15%), NELCO (up 0.10%), Petronet LNG (up 0.61%), Ramkrishna Forgings (down 0.04%), Shakti Pumps (up 1.23%) and Tanla Platforms (down 0.11%) will announce their quarterly results later today.
The Nifty PSU Bank index gained 1.07% to 4,273.10. The index rose 1.40% in the two trading sessions.
Among the components of the Nifty PSU Bank index, Bank of Baroda (up 1.74%), Canara Bank (up 1.45%), Punjab National Bank (up 1.4%), State Bank of India (up 1.01%), Indian Bank (up 0.45%) and Bank of India (up 0.28%).
On the other hand, Central Bank of India (down 0.77%), Indian Overseas Bank (down 0.64%) and UCO Bank (down 0.64%) moved lower.
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