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Indices pare some gains; metals shares extend losses for 4th day

Published on Jan 24, 2023 10:32

The domestic equity barometers pared some of the early gains in morning trade. The Nifty traded below the 18,150 level after hitting the day`s high at 18,201.25 in early trade. Metal shares extended their downfall for fourth consecutive session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 126.71 points or 0.21% to 61,068.38. The Nifty 50 index added 27.40 points or 0.15% to 18,145.95.

In the broader market, the S&P BSE Mid-Cap index shed 0.08% while the S&P BSE Small-Cap index was currently trading flat.

The market breadth turned positive. On the BSE, 1,709 shares rose, and 1,466 shares fell. A total of 171 shares were unchanged.

Results Today:

Maruti Suzuki India (up 0.10%), Indus Towers (down 0.32%), TVS Motor Company (down 0.48%), SBI Cards and Payment Services (down 0.93%), Pidilite Industries (down 0.14%), United Spirits (down 0.53%), Macrotech Developers (down 1.62%), Supreme Industries (up 1.50%), CG Power and Industrial Solutions (down 1.30%), Colgate Palmolive (India) (up 0.05%), Sona BLW Precision Forgings (up 1.22%), PNB Housing Finance (up 0.53%), HDFC Asset Management Company (down 1.01%), Motilal Oswal Financial Services (down 0.65%) and UCO Bank (down 1.81%) are some of the companies that will announce their quarterly earnings today.

Buzzing Index:

The Nifty Metal index fell 0.38% to 6,752.05. The index has declined 2.23% in four sessions.

Steel Authority of India (down 1.56%), Jindal Stainless (down 1.44%), Hindustan Copper (down 1.12%), JSW Steel (down 0.97%) and Jindal Steel & Power (down 0.94%) were the top losers.

Among the other losers were Tata Steel (down 0.7%), National Aluminium Company (down 0.59%), Hindalco Industries (down 0.53%), APL Apollo Tubes (down 0.52%) and Ratnamani Metals & Tubes (down 0.5%).

On the other hand, Welspun Corp (up 1.5%), Hindustan Zinc (up 0.51%) and Adani Enterprises (up 0.4%) turned up.

Stocks in Spotlight:

FSN E-Commerce Ventures (Nykaa) rose 1.36%. Nykaa on Monday (23 January 2023) announced the appointment of P Ganesh as their chief financial officer to further strengthen and boost Nykaa`s financial operations and key long-term business strategies.

Sterlite Technologies fell 2.60%. The company`s board at their meeting held on 27 January 2023 will consider proposal of fund raising by way of equity shares or other securities through rights issue.

NBCC (India) advanced 1.86%. The company has secured the total business of Rs 309.10 crore in December 2022.

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