Indices trade with minor gains; Sensex adds 136 pts; PSU banks advance
Published on Jan 16, 2023 10:32
The domestic equity benchmarks traded with small gains in morning trade. The Nifty traded above the key 17,950 mark. PSU banks advanced for the second day in a row.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 136.31 points or 0.23% to 60,397.49. The Nifty 50 index added 17.45 points or 0.09% to 17,974.05.
In the broader market, the S&P BSE Mid-Cap index rose 0.21% while the S&P BSE Small-Cap index gained 0.32%.
The market breadth was strong. On the BSE, 1,883 shares rose, and 1,403 shares fell. A total of 168 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,422.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,953.40 crore in the Indian equity market on 13 January, provisional data showed.
Angel One (up 0.70%), Federal Bank (up 1.44%), JSW Ispat Special Products (down 1.83), Kesoram Industries (up 1.33%), Bank of Maharashtra (up 3.47%) and Tinplate Company of India (down 0.48%) will announce their quarterly results later today.
The Nifty PSU Bank index gained 1.72% to 4,353.75, extending gains for the second day. The index jumped 3.09% in three trading sessions.
UCO Bank (up 6.66%), Indian Overseas Bank (up 5.16%), Central Bank of India (up 4.89%), Punjab & Sind Bank (up 4.44%), Union Bank of India (up 4.06%), Bank of Maharashtra (up 3.79%), Bank of India (up 3.16%), Indian Bank (up 2.86%), Punjab National Bank (up 2.64%) and Bank of Baroda (up 1.35%) were the gainers.
Stocks in Spotlight:
Zydus Lifesciences declined 0.53%. The drug maker`s (formerly known as Cadila Healthcare) subsidiary Zydus Pharmaceuticals (USA) Inc. (Zydus) has received tentative approval from the United States Food and Drug Administration (USFDA) to market Levomilnacipran extended-release capsules, 20 mg, 40 mg, 80 mg, and 120 mg (USRLD: Fetzima extended-release capsules).
Just Dial hit an upper circuit of 10% after the company reported a consolidated net profit of Rs 75.32 crore in Q3 FY23, steeply higher than Rs 19.39 crore posted in Q3 FY22. Net revenue from operations stood at Rs 221.37 crore in Q3 FY23, registering a growth of 39.3% from Rs 158.89 crore recorded in the corresponding quarter previous year.
L&T Finance Holdings rallied 3.19% after the company`s consolidated net profit jumps 39.2% to Rs 453.64 crore in in Q3 FY23 as against Rs 325.99 crore posted in Q3 FY22. Total income soared 80% to Rs 5,671.60 crore in quarter ended 31 December 2022 from Rs 3,150.50 crore recorded in Q3 FY22.
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