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Budget 2023 Stocks: Less than a couple of hours before the <a href="https://www.zeebiz.com/budget">Union Budget 2023</a> will be presented by Finance Minister Nirmala Sitharman. Zee Business Managing Editor has picked The Indian Hotels Company Limited as the stock of the day. The stock was trading at Rs 312.05 on the NSE in the early trade and was up by Rs 11.05 or 3.67 per cent from the Tuesday closing price.

Singhvi lauded the stock and said that the company posted strong December quarter results. While strong top line was expected, there were concerns on the margin fronts but the company managed to beat street’s estimates, he added.

The stock is available at corrected levels and is a must buy, he added. The stock is expected to do well today, the Managing Editor said. He said that it is a stock that must be a part of one’s portfolio.

The other stocks which were in his good books were in the F&amp;O segment. He picked Cholamandalam Investment and Finance Company, Shriram Finance and Max Financial Services which have posted strong Q3 results.

He said that NBFC companies have posted good results this quarter and it appears that this space is again gaining momentum, Singhvi further said.

Watch Full Video Tweet Here:

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/EditorsTake?src=hash&amp;ref_src=twsrc%5Etfw">#EditorsTake</a> 
 
आज Budget के दिन किन शेयरों पर रखें फोकस? 
 
कौनसा शेयर है Stock Of The Day? 
 
किन शेयरों में दिखेगा एक्शन? 
 
जानिए <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> से... 
 
<a href="https://twitter.com/hashtag/BudgetOnZee?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetOnZee</a> देखिए <a href="https://twitter.com/hashtag/AnilSinghvi?src=hash&amp;ref_src=twsrc%5Etfw">#AnilSinghvi</a> के साथ- <a href="https://t.co/gya6j7ktgK">https://t.co/gya6j7ktgK</a> <a href="https://t.co/QoyfarwvlK">pic.twitter.com/QoyfarwvlK</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1620628321968214017?ref_src=twsrc%5Etfw">February 1, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

In the cash market he picked Spandana Sphoorti Financial, KPIT Technologies and Paradeep Phosphates which is in the fertiliser space.

Sensex rises over 500 pts in early deals as <a href="https://www.zeebiz.com/market-news/live-updates-budget-2023-sensex-nifty-live-india-stock-market-anil-singhvi-nirmala-sitharaman-ltcg-income-tax-fomc-rate-adani-share-price-net-worth-219690/219741">D-Street</a> awaits Budget announcements

Both headline indices gain as much as 0.9 per cent within the first 10 minutes of trade on Dalal Street, The Sensex rises 517 pts to touch 60,066.9 at its strongest intraday level so far. The Nifty climbs to as high as 17,815.3, up 153.2 points from its previous close.&nbsp;

The Indian Hotels Company Limited as the stock of the day. It was trading at Rs 312.05 on the NSE in the early trade and was up by Rs 11.05 or 3.67 per cent from the Tuesday closing price


Budget 2023 Stocks: Anil Singhvi recommends Indian Hotels as his top pick of the day; puts his bet on NBFC stocks

Indian frontline indices will resume trading on Wednesday amid two key events – Budget 2023 and Federal Reserve’s Federal Open Market Committee (FOMC) meeting. Zee Business has collated a list of 10 such triggers that are likely to impact movement tomorrow.

<a href="http://zeebiz.com/market-news/news-closing-bell-cautious-end-for-sensex-nifty-ahead-of-budget-2023-fed-policy-icici-bank-itc-keep-bears-on-top-219617">Tuesday Market Recap</a>

Indian frontline indices traded in a narrow range on Tuesday ahead of the <a href="https://www.zeebiz.com/budget">Budget 2023</a> and <a href="https://www.zeebiz.com/markets/global-markets/live-updates-fomc-meeting-2023-fed-jerome-powell-us-markets-dow-jones-nasdaq-wall-street-dollar-index-219438">Federal Reserve’s Federal Open Market Committee (FOMC)</a> meeting which begins today. While S&amp;P BSE Sensex traded in a 680 points range, the broader market NSE Nifty50 traded in 200 points range. Sensex ended at 59,549.90, up 50 points or 0.08 per cent while Nifty50 settled at 13.20 points or 0.07 per cent higher at 17,662.15. Banking gauge Nifty Bank finished at 40,655.05, up 267.60 points or 0.66 per cent from the Monday closing.

It was second consecutive positive closing, today. India VIX, a measure of volatility in Nifty was 16.88, down 4.71 per cent. The rally in index was supported by ICICI Bank, ITC and State Bank of India (SBI).

In the 50-share Nifty50, 24 stocks advanced, 25 declined while 1 remained unchanged. The top gainers were SBI, Mahindra &amp; Mahindra, Power Grid, UItraTech Cement and Adani Ports while the top osers were Bajaj Finance, TCS, Tech Mahindra, Britannia Industries and HDFC Life.

10 Things to Watch Out For

1) US Markets: When Indian markets resume trading tomorrow, they will take cues from the Tuesday closing of US markets and movement on Dow Futures and SGX Nifty futures on Wednesday. &nbsp;At the time of filing of the story US markets were trading&nbsp;weak while Dow Futures were trading at 33,796.90, up 79.80 or 0.24 per cent. Singapore-listed SGX Nifty, an early indicator of movement in Nifty was trading at 17,799.5, up 47.5 points or 0.27 per cent.

[[{"fid":"224525","view_mode":"default","type":"media","link_text":null,"attributes":{"height":282,"width":300,"class":"media-element file-default"}}]]&nbsp;Source: Comex

<a href="http://zeebiz.com/union-budget/news-economic-survey-2023-interest-rate-hike-by-us-fed-to-trigger-further-weakness-in-rupee-versus-dollar-219589">Rupee Vs Dollar</a>: The rupee depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, and lost further ground to fall below the 82 per US dollar level. The rupee finally ended at 81.93, registering a decline of 41 paise over its last close.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.15 per cent to 102.43. Forex traders said investors are bracing for interest rate decisions from the Federal Reserve, and the Union Budget for 2023-24, both scheduled to be announced on Wednesday. PTI

"The rupee fell&nbsp; to below&nbsp; 82.00 as event risks in the next four days made traders jittery and they bought&nbsp; dollars. The dollar index also rose from 101.76 yesterday to 102.60. A major&nbsp; UK based bank was heard buying for equity outflows of FPIs. The market has to counter the budget, FOMC tomorrow, BOE and ECB on 2nd and NFPR on 3rd. Asian currencies have also weakened since morning," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.

3) Q3 Results: Several listed companies announced their December quarter results on Tuesday. Among them were MakeMy Trip, NIIT, Blue Star, Titan, UPL Indian. Expect stock specific action in these companies.

A bunch of companies will declare their December quarter results on Wednesday including Jubilant Foods, Ramco Systems, Raymonds and others.

4) Stocks in News: Adani Enterprises FPO was fully subscribed today on the final day; Godrej Properties buys 89-acre land in Khalapur, Maharashtra.

5) Stocks in Ban: Securities in Ban for trade on 1 February, 2023 is Ambuja Cements.

6) FII / DII Action: Foreign institutional investors were net sellers today an sold equities worth Rs 5439.64 crore while domestic institutional investors were net buyers at Rs 4506.31 crore.

7) Bulk Deals: Over a dozen companies witnessed bulk deal action on Tuesday. Among them were Bright Solar, Jet Freight Logistics, Tracxn Technologies and others. Expect stock specific action in these counters. 
8) Anil Singhvi Strategy on Nifty Bank Nifty: Local factors will play on the budget day, Zee Business Managing Editor Anil Singhvi said. He sees support in Nifty50 at 17,500-17,550 while resistance is seen at 17,750-17,800. As for Bank Nifty, support is seen at 40,150-40,300 while resistance is seen at 41,000-41,200. &nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/BazaarAajAurKal?src=hash&amp;ref_src=twsrc%5Etfw">#BazaarAajAurKal</a> में देखिए आज के शेयर बाजार का लेखा-जोखा और कल के बाजार का अनुमान <a href="https://twitter.com/rainaswati?ref_src=twsrc%5Etfw">@rainaswati</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/qvsaFDQI9c">https://t.co/qvsaFDQI9c</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1620421422840692739?ref_src=twsrc%5Etfw">January 31, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Commodity Live:&nbsp;

[[{"fid":"224527","view_mode":"default","type":"media","link_text":null,"attributes":{"height":542,"width":861,"class":"media-element file-default"}}]]

10) Expert Take

It was again a roller-coaster day for the Indian markets but the range was comparatively narrower from yesterday. Nifty has reversed from the support zone and managed to close above its 200 EMA placed at 17,550 levels.&nbsp;A relief rally can be expected up to 17,900 levels from where selling pressure may be witnessed again until 18050 - 18100 takes out on closing basis. On the lower side immediate support is seen at 17,550 and below that at 17,400 levels."&nbsp;-&nbsp;Rohan Patil, Technical Analyst, SAMCO Securities

"In the case of Nifty, a gap up opening on January 31 was followed by a steep selling pressure in the beginning of the session. Nevertheless, the index managed to recover as the day progressed &amp; closed in the green. With this bounce, the index is heading towards the level of 17800, which holds the key for further course of action from a short term perspective. If the index manages to surpass 17800 then it will be poised for a larger up move. Till then a consolidation in the range of 17400-17800 is possible." --&nbsp;Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

&nbsp;Anil Singhvi Strategy on Nifty Bank Nifty:&nbsp;Local factors will play on the budget day, Zee Business Managing Editor Anil Singhvi said. He sees support in Nifty50 at 17,500-17,550 while resistance is seen at 17,750-17,800. As for Bank Nifty, support is seen at 40,150-40,300 while resistance is seen at 41,000-41,200


From Budget 2023 to Fed meeting, 10 triggers that could impact movement in Sensex, Nifty on Wednesday

Closing Bell: Indian frontline indices traded in a narrow range on Tuesday ahead of the <a href="https://www.zeebiz.com/budget">Budget 2023</a> and <a href="https://www.zeebiz.com/markets/global-markets/live-updates-fomc-meeting-2023-fed-jerome-powell-us-markets-dow-jones-nasdaq-wall-street-dollar-index-219438">Federal Reserve’s Federal Open Market Committee (FOMC)</a> meeting which begins today. While S&amp;P BSE Sensex traded in a 680 points range, the broader market NSE Nifty50 traded in 200 points range. Sensex ended at 59,549.90, up 50 points or 0.08 per cent while Nifty50 settled at 13.20 points or 0.07 per cent higher at 17,662.15. Banking gauge Nifty Bank finished at 40,655.05, up 267.60 points or 0.66 per cent from the Monday closing.&nbsp;

It was second consecutive positive closing, today. India VIX, a measure of volatility in Nifty was 16.88, down 4.71 per cent. The rally in index was supported by ICICI Bank, ITC and State Bank of India (SBI).

In the 50-share Nifty50, 24 stocks advanced, 25 declined while 1 remained unchanged. The top gainers were SBI, Mahindra &amp; Mahindra, Power Grid, UItraTech Cement and Adani Ports while the top osers were Bajaj Finance, TCS, Tech Mahindra, Britannia Industries and HDFC Life.&nbsp;

[[{"fid":"224440","view_mode":"default","type":"media","link_text":null,"attributes":{"height":436,"width":593,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"224441","view_mode":"default","type":"media","link_text":null,"attributes":{"height":433,"width":582,"class":"media-element file-default"}}]]Source: NSE

Out of 15 Nifty sectoral indices, 11 ended in the green. The top performers were Nifty PSU Bank (+4.28 per cent), Nifty Auto (+1.89 per cent) and Nifty Metal&nbsp;(+1.52) while the biggest laggards were Nifty IT (-1.18 per cent), Nifty Pharma (-0.99 per cent) and Nifty Oil &amp; Gas (-1.12).

Broader markets outperformed the benchmark indices with Nifty Mid Cap 100 and Nifty Small Cap 100 gaining 1.63 per cent and 2.91 per cent respectively. Nifty Mid Cap 100 closed at&nbsp;30,676.45, up by 490.60 points. In the 100-stock index, 83 stocks gained with the top gainers being Trident, Bank of India and BHEL while the top losers were Adani Wilmar, Varun Beverages and Laurus Labs. Meanwhile, Nifty Small Cap 100 closed at 9,501.75, higher by 268.75 points. 87 stock advance and 13 declined with top gainers being EID Parry, Suzlon and IIFL. The biggest losers were VIP Industries, Indigo Paints and Metro Brands.

Adani Enterprises FPO was fully subscribed on the closing day. As per the information available on the BSE, the total subscription across categories was 1.12 times.

[[{"fid":"224454","view_mode":"default","type":"media","attributes":{"height":628,"width":464,"class":"media-element file-default"},"link_text":null}]]

The <a href="http://zeebiz.com/union-budget/news-economic-survey-2023-interest-rate-hike-by-us-fed-to-trigger-further-weakness-in-rupee-versus-dollar-219589">rupee</a> depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the <a href="https://www.zeebiz.com/union-budget/news-economic-survey-2023-key-highlights-broad-based-recovery-across-sectors-inflation-within-rbis-target-and-other-major-points-219607">Economic Survey 2022-23</a> said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, and lost further ground to fall below the 82 per US dollar level. The rupee finally ended at 81.93, registering a decline of 41 paise over its last close.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.15 per cent to 102.43. Forex traders said investors are bracing for interest rate decisions from the Federal Reserve, and the Union Budget for 2023-24, both scheduled to be announced on Wednesday. PTI&nbsp;

"The rupee fell&nbsp; to below&nbsp; 82.00 as event risks in the next four days made traders jittery and they bought&nbsp; dollars. The dollar index also rose from 101.76 yesterday to 102.60. A major&nbsp; UK based bank was heard buying for equity outflows of FPIs. The market has to counter the budget, FOMC tomorrow, BOE and ECB on 2nd and NFPR on 3rd. Asian currencies have also weakened since morning," Anil Kumar Bhansali, Head of Treasury at&nbsp;Finrex Treasury Advisors LLP said.

Expert Take

"It was again a roller-coaster day for the Indian markets but the range was comparatively narrower from yesterday. Nifty has reversed from the support zone and managed to close above its 200 EMA placed at 17,550 levels.&nbsp;A relief rally can be expected up to 17,900 levels from where selling pressure may be witnessed again until 18050 - 18100 takes out on closing basis. On the lower side immediate support is seen at 17,550 and below that at 17,400 levels." -&nbsp;Rohan Patil, Technical Analyst, SAMCO Securities

"In the case of Nifty, a gap up opening on January 31 was followed by a steep selling pressure in the beginning of the session. Nevertheless, the index managed to recover as the day progressed &amp; closed in the green. With this bounce, the index is heading towards the level of 17800, which holds the key for further course of action from a short term perspective. If the index manages to surpass 17800 then it will be poised for a larger up move. Till then a consolidation in the range of 17400-17800 is possible." --&nbsp;Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Indian frontline indices traded in a narrow range on Tuesday ahead of the Budget 2023 and Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins today


Closing Bell: Cautious end for Sensex, Nifty ahead of Budget 2023, Fed policy; ICICI Bank, ITC keep bears on top

Challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Federal Reserve, <a href="https://www.zeebiz.com/union-budget/live-updates-budget-live-economic-survey-2023-parliament-session-president-droupadi-murmu-address-to-joint-sitting-finance-minister-nirmala-sitharaman-pm-modi-chief-economic-advisor-anantha-nageswaram-tax-slab-congress-bjp-aap-2024-lok-sabha">Economic Survey 2022-23</a> tabled by Finance Minister Nirmala Sitharaman on Tuesday said.

The Economic Survey also noted that INR could be under further duress if India’s Current Account Deficit (CAD) continues to widen as global commodity prices remain elevated and economic growth momentum stays strong.

Any rate hike by US Fed is likley to strengthen the Dollar against its peers, commodity and currency expert Anuj Gupta said. He sees rupee to trade between 81 and 82 against the green over the next 3 days.&nbsp;

Gupta, who is Vice President (VP), Commodity and Currency Research at IIFL Securities is of the view that the US Cenral Bank could slow the pace of rate hike and that would not let rupee fall appreciably.

Gupta expects Budget 2023 announcements to be positive for industry and businesses and that would strengthen the INR against th USD.&nbsp;

Rupee has recovered over 1.08 per cent after falling to an all time low of 83.28, Gupta said. At the time of filin of the story, rupee was trading at 81.76 against the Dollar.&nbsp;

FM Sitharaman will present here last full budget of the Narendra Modi 2.0 government on Wednesday.&nbsp;

Economic Survey 2022-23 HIGHLIGHTS

* India's economy to grow 6.5 pc in 2023-24, compared to 7 pc this fiscal and 8.7 pc in 2021-22

* India to remain the fastest growing major economy in the world

* GDP in nominal terms to be 11 pc in next fiscal

* Growth driven by private consumption, higher capex, strengthening corporate balance sheet, credit growth to small businesses and return of migrant workers to cities

* India third largest economy in PPP (purchasing power parity) terms, fifth largest in terms of exchange rate

* Economy has nearly "recouped" what was lost, "renewed" what had paused, and "renerengised" what had slowed during the pandemic and since the conflict in Europe

* Real GDP growth to be in the range of 6-6.8 pc next fiscal depending on global economic, political developments

* India's recovery from the pandemic was relatively quick, growth next fiscal to be supported by solid domestic demand, pick up in capital investment

* RBI projection of 6.8 pc inflation this fiscal outside the upper target limit, not high enough to deter private consumption, also not too low to weaken inducement to invest

* Borrowing cost may remain 'higher for longer', entrenched inflation may prolong tightening cycle

* Challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Fed

* CAD may continue to widen as global commodity prices remain elevated, economic growth momentum stays strong

* If CAD widens further, rupee may come under depreciation pressure

* Overall external situation to remain manageable

* India has sufficient forex reserves to finance CAD and intervene in forex market to manage rupee volatility

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Federal Reserve, Economic Survey 2022-23 tabled by Finance Minister Nirmala Sitharaman said


Economic Survey 2023: Interest rate hike by US Fed to trigger further weakness in Rupee versus Dollar

Liquor stocks Radico Khaitan Limited and United Breweries Limited gained on Tuesday as India's most populous state Uttar Pradesh revised its liquor excise policy. Alcohol is set to become expensive in the state from 1 April, 2023.

Radico Khaitan shares were trading at Rs 1,124.15 on the NSE and were up by Rs&nbsp;25.05 or 2.28 per cent from the Monday closing price. Meanwhile, United Spirits shares were trading at Rs 1,577.25, higher by Rs&nbsp;2.50 or 0.16&nbsp; per cent.

Frontline Indices <a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-live-india-stock-market-anil-singhvi-adani-fpo-hindenburg-sbi-acc-budget-2023-economic-survey-cea-nageswaran-fomc-fed-219481">S&amp;P BSE Sensex and NSE Nifty50</a> were trading in the red, though they shed their morning lows. While the latter&nbsp;was trading at&nbsp;17,638.60, down by&nbsp;10.35 points or 0.06 per cent the former was trading at&nbsp;59,488.12, down by 12.29 points or nearly flat from the previous closing price.&nbsp;

Under the new excise policy, licensing fee for shops and model shops has been raised by 10 per cent. The new rules also mandate 10 per cent increase in minimum guarantee quota.

On specific occasions, on prior approval of the government, the duration of sale of liquor could be increased. In the country liquor segment, prices have been hike by 12 per cent.&nbsp;

According to channel checks done by the Zee Business, the prices of premium beer may go up by 10 per cent. In the previous year, the Uttar Pradesh government had raised the price of beer and spirits by 7-10 per cent.&nbsp;&nbsp;

Many beer and spirit makers increased prices by 3-12 per cent in UP, West Bengal and Uttarakhand.

Volume Contribution

--&nbsp;10-12 per cent is accounted by - United Spirits and United Breweries

-- 40 per cent by Radico Khaitan&nbsp;

The price of raw material is expected to go up and that may have an impact on the profit margins of the companies.

Radico Khaitan shares were trading at Rs&nbsp;1,124.15 on the NSE and were up by Rs&nbsp;25.05 or&nbsp;2.28 per cent from the Monday closing price. Meanwhile, United Spirits shares were trading at Rs&nbsp;1,577.25, higher by Rs&nbsp;2.50 or 0.16&nbsp; per cent


Liquor to become expensive in UP from 1 April; Radico Khaitan, United Spirits shares gain

Stock Markets on Tuesday, 31 January 2023: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 will resume trading on Tuesday amid a host of local and global triggers. Over the next two-days, street will be watching developments around two major big events – Budget 2023 and <a href="http://zeebiz.com/markets/global-markets/live-updates-fomc-meeting-2023-fed-jerome-powell-us-markets-dow-jones-nasdaq-wall-street-dollar-index-219438">Federal Reserve’s FOMC meeting</a> outcome. Zee Business has collated a list of 10 things that could impact movement tomorrow. &nbsp;&nbsp;

<a href="http://zeebiz.com/market-news/news-closing-bell-sensex-nifty-rebound-from-3-month-lows-break-2-day-losing-streak-bajaj-twins-among-top-gainers-219394">Monday Market Recap:</a> Benchmark indices not just ended their 2-day losing streak but also rebounded from 3 month lows on Monday. While the Sensex closed at 59,500.41, up 169.51 points or 0.29 per cent, the broader market Nifty50 closed at 17,648.95, higher by 44.60 points or 0.25 per cent. The banking gauge Nifty Bank also managed a green closing at 40,387.45 finishing 42.15 points or 0.1 per cent higher.

In the 50-stock Nifty50, 29 stocks advanced with <a href="http://zeebiz.com/market-news/news-bajaj-finance-share-price-q3-results-nbfc-earnings-beat-estimates-stock-trading-recommendation-219377">Bajaj Finance</a>, <a href="https://www.zeebiz.com/market-news/news-adani-group-stock-price-hindenburg-report-impact-adani-enterprises-ports-rise-power-adanitrans-adanipower-atgl-fall-219351">Adani Enterprises</a>, UltraTech Cement Company, Bajaj Finserv and Asian Paints ending as top gainers. The top losers were Power Grid, Bajaj Auto, IndusInd Bank, Larsen &amp; Toubro and JSW Steel.

10 triggers that could impact movement:

1) US Markets: Wall Street was trading weak ahead of the FOMC policy announcements scheduled on 1 February. Nasdaq Composite was the worst loser at the time of filing the story and was down by 158 points or 1.36 per cent at 11,463.70 while S&amp;P 500 was trading at 4,045.79, down by 24.77 points or 0.61 per cent. Dow 30 was trading flat at 33,983, up by 4.88 points or 0.01 per cent. Dow Futures were trading at 33,954, lower by&nbsp; 24.10 points or 0.07 per cent.

Singapore-based SGX Nifty, an early indicator of movement in Nifty50 was trading at 17,767.5, up 62.5 points or 0.35 per cent.

When Indian markets resume trading tomorrow, they will take cues from the Thursday closing of US markets and movement on Dow Futures and SGX Nifty futures on Tuesday.

[[{"fid":"224282","view_mode":"default","type":"media","link_text":null,"attributes":{"height":286,"width":316,"class":"media-element file-default"}}]]&nbsp;Source: Comex

2) Rupee Vs Dollar: The rupee rose by 9 paise to close at 81.50 (provisional) against the US currency in a restricted trade on Monday, supported by a weak greenback in the overseas markets and a decline in crude oil prices.

At the interbank foreign exchange market, the local unit opened lower at 81.69 and touched a low of 81.72 against the US dollar in line with losses in the equity markets, PTI reported.

The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.16 per cent to 101.76.

According to the report,&nbsp;a weak Dollar index and a decline in crude oil prices cushioned the downside. Further, FPO-related foreign inflows also supported the rupee at lower levels, he said.

"We expect the rupee to trade with a slight negative bias amid a weak tone in the domestic markets and expectations that the US Dollar may rise on safe-haven appeal," Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said.

Choudhary further said that month-end dollar demand from importers and selling pressure from FIIs may also put downside pressure on the rupee. "Traders may remain cautious ahead of India's union budget and US FOMC meeting later this week. USDINR spot price is expected to trade in a range of Rs 81 to Rs 82.20," Choudhary said.

"The rupee remained in a range of 81.50 to 81.72 as it gained after $ selling by exporters due to month end. The dollar index also fell to 101.71 while Brent oil was at $ 86.26. Asian currencies continued to remain range bound," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.

"Range for tomorrow 81.30 to 81.80," he added.

[[{"fid":"224283","view_mode":"default","type":"media","link_text":null,"attributes":{"height":286,"width":314,"class":"media-element file-default"}}]]&nbsp;Source: Comex

3) Q3 Results 2023: Several listed companies announced their December quarter earnings on Monday. <a href="https://www.zeebiz.com/market-news/news-bajaj-finance-share-price-q3-results-nbfc-earnings-beat-estimates-stock-trading-recommendation-219377">Bajaj Finance</a> reported a 40 per cent jump in its net profit. Among others, <a href="https://www.zeebiz.com/personal-finance/banking/news-url-pnb-q3-results-punjab-national-bank-share-price-profit-nii-nim-npa-psu-bank-stock-219393">PNB</a>, <a href="https://www.zeebiz.com/market-news/news-powergrid-q3-results-preview-profit-revenue-margin-power-stocks-electricity-transmission-219429">Power Grid</a>, L&amp;T, Tech Mahindra, GAIL, <a href="http://zeebiz.com/companies/news-q3-results-2023-rec-csb-bank-net-up-5-tci-profit-jumps-23-to-95-crore-219459">REC, CSB Bank, TCI</a> and others.

Many companies will declare their results on Tuesday. In the Nifty50 Coal India, Power Grid, UPL and Sun Pharma will announce their quarterly results. Among others were ACC, BASF, Edelweiss, Jindal Steel, KEC and Railtel.

4) Stocks in News: Expect stock specific action based on company specific news. Max Healthcare Institute board will meet on 2 February to consider issuance of non-convertible debentures for raising funds; Inox Leisure informs exchanges on the status of merger with PVR. It expects the merger to complete in next 30-40 days. Stocks including SRF, Mangalore Chemicals, Aditya Birla Fashion and others could also see action.

5) Stocks in Ban: Securities in Ban for trade on 31January 2023 is Ambuja Cements.

6) <a href="https://www.zeebiz.com/market-news/news-fii-selling-india-share-market-foreign-fund-money-flow-sensex-nifty50-negative-market-cue-219361">FII / DII Action</a>: Foreign institutional investors were net sellers in Monday and sold Indian equities worth Rs 6792.8 crore while domestic institutional investors were net buyers at Rs 5,512.63 crore.

7) Bulk Deals: Nearly a dozen companies witnessed bulk deal action today. Among them were Atal Realtech, Varanium Cloud, Jet Freight Logistics, Nureca and others.

8) Anil Singhvi Strategy on Nifty and Bank Nifty: Zee Business Managing Editor said that Nifty50 will find support at 17,350-17,400 while resistance at 17,850-17,950. As for Bank Nifty, support is seen at 39,500-39,600 while resistance is seen at 41,000.

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/BazaarAajAurKal?src=hash&amp;ref_src=twsrc%5Etfw">#BazaarAajAurKal</a> में देखिए आज के शेयर बाजार का लेखा-जोखा और कल के बाजार का अनुमान <a href="https://twitter.com/rainaswati?ref_src=twsrc%5Etfw">@rainaswati</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/Zzt3b0TVAq">https://t.co/Zzt3b0TVAq</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1620058072172621824?ref_src=twsrc%5Etfw">January 30, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Adani Enterprises FPO to end tomorrow. The issue has been overall subscribed 0.03 times. The stock ended at Rs 2878.50 on the BSE, up by Rs 116.35 or 4.21 per cent. The FPO price band is Rs 3,112 to Rs 3,276 per share.

[[{"fid":"224286","view_mode":"default","type":"media","link_text":null,"attributes":{"height":673,"width":523,"class":"media-element file-default"}}]]Source: BSE&nbsp;

10) Commodity Markets: Dollar movement will be critical to how commodities trade. Movement in Gold price is inversely related to movement in Dollar. MCX April Gold futures were trading at Rs 57,058 per 10 gram, down by Rs 221 or 0.39 per cent while March Silver futures were trading at Rs 68,528 per kg, higher by Rs 199 or 0.29 per cent. February Crude Oil futures were trading at Rs 6,459, down by Rs 47 or 0.72 per cent. &nbsp;&nbsp;&nbsp;&nbsp;

[[{"fid":"224284","view_mode":"default","type":"media","link_text":null,"attributes":{"height":542,"width":874,"class":"media-element file-default"}}]]&nbsp;Source: MCX

Expert Take

“Given Government’s focus towards clean energy, some measures can be expected to facilitate further electric vehicle (EV) adoption and to support development of EV ecosystem in the country. Apart from this, initiatives to support rural income would also indirectly benefit some segments within the auto industry (mainly entry level two wheeler segment and the tractor segment).” -- Arun Agarwal, Vice President, Kotak Securities Ltd.

"Continuing with the bearish momentum from the last week the Nifty opened gap down &amp; went down to breach the last week’s low of 17493. On the downside it received support near 17400 &amp; recovered sharply towards the end of the session, resulting in a positive daily close. Consequently, the Nifty managed to hold above the 61.8% retracement of the Sept – Dec 2022 rise &amp; 200 DEMA, which are near 17550. This makes today’s low of 17405 a crucial support. On the higher side, the index can test 17800, which will now act as a resistance as per the principle of role reversal." -- Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

“USDINR spot closed 2 paise lower at 81.49 on the back of exporter selling. Over this week, we can see volatility increase, due to major event risks like Budget and Fed.” -- Anindya Banerjee, VP - Currency Derivatives &amp; Interest Rate Derivatives at Kotak Securities Ltd.

"Nifty50 on the daily chart has found support near 17,550 levels which is the 61.80 percent Fibonacci retracement from the low of 16,747 to the high of 18,887 levels. The overall trend remains negative as prices have witnessed a consolidation breakdown below 17,750 levels.

Volatility was the main characteristic of today's session, where prices swung like a pendulum in both directions. As we are in the budget week, volatility is expected to be higher in the next few trading sessions.

The immediate hurdle for the index is currently capped under 17,850 – 17,900 levels. A strong move above 17,900 will again open the gate for 18,050 levels. On the lower side, 17,550 – 17,500 will act as important support for the time being." -- Rohan Patil, Technical Analyst at SAMCO Securities

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Dalal Street fixes its gaze on Budget 2023, FOMC meeting; 10 triggers that could impact Sensex, Nifty on Tuesday

Crucial days lie ahead for the markets&nbsp;as the Dalal Street keeps&nbsp;a watch on two big-ticket events in the next few days – Finance Minister Nirmala Sitharaman's&nbsp;<a href="https://www.zeebiz.com/budget">Budget 2023</a> speech in the&nbsp;Parliament and the <a href="http://zeebiz.com/markets/global-markets/live-updates-fomc-meeting-2023-fed-jerome-powell-us-markets-dow-jones-nasdaq-wall-street-dollar-index-219438">Federal Reserve's&nbsp;2023 FOMC</a> press conference of Chair Jerome Powell.

Apurva Sheth, Samco Securities’ Head of Market Perspectives &amp; Research, breaks it down for readers, on how Nifty and Bank Nifty have behaved on Budget day&nbsp;historically, and suggests strategies for option traders. &nbsp;&nbsp;&nbsp;

The report has been made based on the findings of 15 Budgets (13 full and 2 interim) from 2010 to 2022. The average budget day returns in Nifty is 0.26 per cent. Nifty's average return&nbsp;one week before the budget is -0.52 per cent and one week after the budget is 1.36 per cent. The average trading range (difference from day's high to low) on the day of budget is 2.65 per cent of past 15 years.

NIFTY Insights from Data: The above data suggests that on average, Nifty normally trades lower ahead of the budget. The main reason behind that is fear and uncertainty ahead of the event. The moment Budget event is out, the market quickly discounts it and starts trending higher.

So, if the budget is not favourable, prices discount it immediately and makes an intermediate low on the budget day. If there is positive surprise in Budget then too it trends higher.

[[{"fid":"224255","view_mode":"default","type":"media","link_text":null,"attributes":{"height":534,"width":962,"class":"media-element file-default"}}]]&nbsp;Source: Samco

NIFTY Strategy:&nbsp;Short term options traders must look for opportunities on the long side after the&nbsp;budget, the report said, adding that if all their conditions are met then chances of making money on the long side after the&nbsp;Budget&nbsp;are high.

BANK NIFTY Interpreting the Data: The average budget day return&nbsp;in Bank Nifty is 0.60 per cent. Bank Nifty average returns one week before the budget is -0.17&nbsp;per cent and one week after the budget is 2.02 per cent. The average trading range (difference from day's high to low) on the day of budget is 3.83&nbsp;per cent of past 15 budgets.

[[{"fid":"224256","view_mode":"default","type":"media","link_text":null,"attributes":{"height":539,"width":963,"class":"media-element file-default"}}]]&nbsp;Source: Samco

Strategy:&nbsp;Looking from the insights, the volatility is extremely high in Bank Nifty compared to Nifty. Option traders must look for hedged long strategies like Bull Call Spread or Call Ratio Backspread to make the most if Bank Nifty moves up after the&nbsp;Budget. Traders must also keep adequate stop losses if the movement is not favourable.

India VIX&nbsp;Interpreting the Data:&nbsp;This would come as a major surprise for many. India VIX, which measures the volatility of Nifty options, has fallen on all 14 Budget sessions since 2011. The average change is -9.02 per cent.

[[{"fid":"224257","view_mode":"default","type":"media","link_text":null,"attributes":{"height":517,"width":963,"class":"media-element file-default"}}]]

Strategy:&nbsp;The volatility is on the higher side before the event and it drops lower as the&nbsp;budget&nbsp;unfolds. Option traders must look to adopt&nbsp;an intraday short straddle or short strangle strategy to take benefit of falling VIX. As volatility cools down, we may see a sharp fall in option prices.

<a href="https://www.zeebiz.com/market-news/news-closing-bell-sensex-nifty-rebound-from-3-month-lows-break-2-day-losing-streak-bajaj-twins-among-top-gainers-219394">Closing Bell:</a>&nbsp;Indian frontline indices&nbsp;S&amp;P BSE Sensex and NSE Nifty50&nbsp;not just ended their 2-day losing streak&nbsp;but also rebounded from 3 month lows on Monday. While the Sensex closed at&nbsp;59,500.41, up 169.51 points or 0.29 per cent, the broader market Nifty50 closed at&nbsp;17,648.95, higher by&nbsp;44.60 points or 0.25 per cent. The banking gauge Nifty Bank also managed a green closing at&nbsp;40,387.45 finishing&nbsp;42.15 points or 0.1 per cent higher.

In the 50-stock Nifty50, 29 stocks advanced with Bajaj Finance, Adani Enterprises, UltraTech Cement Company, Bajaj Finserv and Asian Paints ending&nbsp;as top gainers. The top losers were Power Grid, Bajaj Auto, IndusInd Bank, Larsen &amp; Toubro and JSW Steel.&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Short term options traders in Nifty must look for opportunities on the long side after the&nbsp;budget, Samco Securities report says&nbsp;adding that if all their conditions are met then chances of making money on the long side after the&nbsp;Budget&nbsp;are high


Budget 2023: Check Nifty, Bank Nifty historical track record on last 15 budget days; analyst shares trading strategy for option traders

FOMC Meeting 2023: US Federal Reserve on Wednesday raised interest rates by 25bps taking the range to&nbsp;4.50-4.75 per cent. The decision was taken during the&nbsp;Federal Open Market Committee (FOMC) meeting which began on Tuesday, 31 January 2023. The meeting concluded on 1 February and was&nbsp;followed by a press conference by Fed Chair Jerome Powell.&nbsp;

US markets were trading mix, albeit with relative stability around this time. Nasdaq Composite was up 1.50 per cent while S&amp;P 500 was higher by 0.77 per cent, Dow 30 recovered from early losses and was trading flat at&nbsp;34,081.20.&nbsp;&nbsp;

The&nbsp;12-member committee toned down pace of interest rate hike, a glimpse of which was seen in the <a href="https://www.zeebiz.com/world/live-updates-fomc-meeting-december-2022-fed-Jerome-Powell-US-Fed-Inflation-CPI-Dow-30-Dow-Jones-Nasdaq-Wall-street-212543">December Monetary Policy</a>&nbsp;where the US Central Bank had raised rates by 50bps to bring the range at 4.25-4.50 per cent, in line with the street's expectations.&nbsp;

Powell had then indicated that the Fed could consider raising interest rates by 75bps through 2023.&nbsp;

<blockquote class="twitter-tweet">
Tomorrow at 2:30 p.m. ET: Chair Powell hosts live <a href="https://twitter.com/hashtag/FOMC?src=hash&amp;ref_src=twsrc%5Etfw">#FOMC</a> press conference: <a href="https://t.co/1uJrua5Yif">https://t.co/1uJrua5Yif</a> <a href="https://t.co/99opJIslvV">pic.twitter.com/99opJIslvV</a>
— Federal Reserve (@federalreserve) <a href="https://twitter.com/federalreserve/status/1620473591891628032?ref_src=twsrc%5Etfw">January 31, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Catch all the updates and developments leading to the big event, here. For all other news related to stock markets, business, economy, India <a href="https://www.zeebiz.com/budget">Budget 2023</a>, sports, tech and much more, visit <a href="https://www.zeebiz.com/">Zeebiz.com</a>.&nbsp; &nbsp;

The&nbsp;12-member committee toned down pace of interest rate hike, a glimpse of which was seen in the&nbsp;December Montary Policy&nbsp;where the US Central Bank had raised rates by 50bps to bring the range at 4.25-4.50 per cent, in line with the street's expectations


FOMC Meeting 2023: Fed hikes policy rates by 25bps; ongoing increase in target range "appropriate" to achieve 2% inflation

January 2023 auto sales preview:&nbsp;Passenger Vehicle (PV) volumes are likely to remain higher in January on healthy order book and ramp-up in production, an Emkay Global Financial Services report said. The research house remains positive on the auto sector and places its bets on Maruti Suzuki, Eicher Motor, Ashok Leyland, and Escorts.

The Commercial Vehicles (CVs) are likely to maintain their double-digit growth momentum on better freight availability, it noted, estimating a positive growth in 2-wheelers’ sales supported by festive season (Uttarayan) and marriage season demand.

Better customer sentiments and finance availability will likely improve tractor volumes as well, the Emkay Global report said.

[[{"fid":"224147","view_mode":"default","type":"media","link_text":null,"attributes":{"height":296,"width":610,"class":"media-element file-default"}}]]&nbsp;Source: Emkay&nbsp;Global Financial Services

Passenger Vehicles&nbsp;

PV industry’s volumes should witness a 12 per cent YoY growth on account of a large order book and higher production. Dealer inventories are notably below normal levels, it said. Among OEMs, domestic volumes to grow by 55 per cent YoY for M&amp;M, 10 per cent for Tata Motors, and 8 per cent for Maruti Suzuki.

[[{"fid":"224148","view_mode":"default","type":"media","link_text":null,"attributes":{"height":242,"width":376,"class":"media-element file-default"}}]]

Headwinds

Blended vehicle discounts have been reduced on MoM basis due to seasonality and remain lower than the peak levels seen in the past. Uncertainties remain on the supply chain, but production is improving in a staggered manner.&nbsp;

CV Volumes&nbsp;

CV industry’s volumes should grow by 13 per cent year-on-year with robust demand in both passenger and cargo segments, the report said. Transporters are buying trucks to get GST input credit and preponing purchases before the implementation of RDE/OBD2 norms.

Emkay Global expects 49 per cent YoY growth for Eicher Motor-Volvo Eicher Commercial Vehicles, 41per cent for Ashok Leyland, 6 per cent for Tata Motors, and 4 per cent for Mahindra &amp; Mahindra (M&amp;M) in the domestic market.

[[{"fid":"224149","view_mode":"default","type":"media","link_text":null,"attributes":{"height":219,"width":360,"class":"media-element file-default"}}]]

Two-Wheelers&nbsp;

The 2-wheeler industry volumes are expected to improve 7 per cent YoY. Its channel checks indicate that demand in the festive season and marriage season aided 2-wheelers’ volumes in the latter part of the month.

“OEMs are going slow on dispatches as model-changeovers are happening due to OBD2,” the report said. Emkay Global expects domestic volumes to improve by 29 per cent for Eicher Motor-Royal Enfield, 16 per cent for TVS Motor, 8 per cent for Hero Moto Corp Ltd, and 2 per cent for Bajaj Auto.

[[{"fid":"224150","view_mode":"default","type":"media","link_text":null,"attributes":{"height":216,"width":355,"class":"media-element file-default"}}]]

Tractor Volumes&nbsp;

Tractor industry’s volumes are likely to register strong growth of 13 per cent YoY on improving customer segments and better finance availability. Crop prices are better YoY in the wholesale market for rice, wheat, and tur dal, among others, it further added.

[[{"fid":"224152","view_mode":"default","type":"media","link_text":null,"attributes":{"height":225,"width":364,"class":"media-element file-default"}}]]

Emkay Global expects double-digit growth in domestic volumes, at 18 per cent YoY for Escorts and 15 per cent for M&amp;M.

Maruti Suzuki shares today ended at Rs 8,825, up by Rs 87.50 or 1.00 per cent on the NSE while Mahindra &amp; Mahindra stocks were higher by Rs 11.80 or 0.89 per cent from the Friday closing price at&nbsp; Rs 1,332 apiece. Eicher Motors ended Monday at Rs 3,208, gaining&nbsp;38.25 points or 1.21&nbsp;per cent.

<a href="https://www.zeebiz.com/market-news/news-closing-bell-sensex-nifty-rebound-from-3-month-lows-break-2-day-losing-streak-bajaj-twins-among-top-gainers-219394">Closing Bell:</a> Indian frontline indices&nbsp;S&amp;P BSE Sensex and NSE Nifty50&nbsp;not just ended their 2-day losing streak&nbsp;but also rebounded from 3 month lows on&nbsp;on Monday. While the Sensex closed at&nbsp;59,500.41, up 169.51 points or 0.29 per cent, the broader market Nifty50 closed at&nbsp;17,648.95, higher by&nbsp;44.60 points or 0.25 per cent. The banking gauge Nifty Bank also managed a green closing at&nbsp;40,387.45 finishing&nbsp;42.15 points or 0.1 per cent higher.

In the 50-stock Nifty50, 29 stocks advanced with Bajaj Finance, Adani Enterprises, UltraTech Cement Company, Bajaj Finserv and Asian Paints ending&nbsp;as top gainers. The top losers were Power Grid, Bajaj Auto, IndusInd Bank, Larsen &amp; Toubro and JSW Steel.&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

CVs&nbsp;are likely to maintain their double-digit growth momentum on better freight availability;&nbsp;a positive growth in 2-wheelers’ sales supported by festive season (Uttarayan) and marriage season demand is also seen by&nbsp;


January 2023 auto sales preview: Double-digit growth seen in passenger & commercial vehicles; 7% YoY in 2-wheelers, says Emkay report

Closing Bell: Indian frontline indices<a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-live-india-stock-market-anil-singhvi-budget-2023-tech-mahindra-coal-cil-gail-bajaj-finance-vedanta-results-share-price-219279"> S&amp;P BSE Sensex and NSE Nifty50</a> not just ended their 2-day losing streak&nbsp;but also rebounded from 3 month lows on&nbsp;Monday. While the Sensex closed at&nbsp;59,500.41, up 169.51 points or 0.29 per cent, the broader market Nifty50 closed at&nbsp;17,648.95, higher by&nbsp;44.60 points or 0.25 per cent. The banking gauge Nifty Bank also managed a green closing at&nbsp;40,387.45 finishing&nbsp;42.15 points or 0.1 per cent higher.

In the 50-stock Nifty50, 29 stocks advanced with Bajaj Finance, Adani Enterprises, UltraTech Cement Company, Bajaj Finserv and Asian Paints ending&nbsp;as top gainers. The top losers were Power Grid, Bajaj Auto, IndusInd Bank, Larsen &amp; Toubro and JSW Steel.&nbsp;

India VIX, a measure of volatility in Nifty closed at 17.81, up 2.84 per cent from the previous closing of Friday. 
&nbsp;

[[{"fid":"224160","view_mode":"default","type":"media","link_text":null,"attributes":{"height":437,"width":591,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"224161","view_mode":"default","type":"media","link_text":null,"attributes":{"height":429,"width":580,"class":"media-element file-default"}}]]Source: NSE

Out of 15 Nifty sectoral indices, 7 ended in the green. The top performers were Nifty IT (+1.03 per cent), Nifty Consumer Durables (+0.40 per cent) and Nifty PSU Bank (+0.39 per cent) while the biggesrt laggards were Nifty Oil &amp; Gas (-3.63 per cent), Nifty FMCG (-0.69 per cent) and Nifty Metal (-0.36 per cent).&nbsp;

<a href="http://zeebiz.com/companies/news-gail-q3-results-2023-net-profit-drops-90-on-petrochemical-natural-gas-marketing-woes-219387">GAIL India</a> topday reported 90 per cent year-on-year drop in net profit on petrochemical, natural gas marketing woes. The stock fell over 4 per cent intraday.

There was stock specific action in the broader markets, though Nifty Mid Cap 100 and Nifty Small Cap 100 were mired by selling pressure through the day. While the former was down by 56.05 points or 0.19 per cent, the latter ended marginally lower from the Friday closing at&nbsp;9,233.00, down 9.70 points or 0.10 per cent.&nbsp;

Nifty Mid Cap 100 closed at 30,185.85. In the 100-stock index, 50 stocks gained, 47 declined and 3 remained unchanged. Vodafone Idea, Indian Bank and PB Fintech (Poli&nbsp;

In the 100-share Nifty Small Cap 100, 49 stocks gained. The top gainers were Aegis Logistics, Mazagon Dock and Intellect Design Arena while the top losers were EID Parry, BCG and Route Mobile.&nbsp;

The rupee rose by 9 paise to close at 81.50 (provisional) against the US currency in a restricted trade on Monday, supported by a weak greenback in the overseas markets and a decline in crude oil prices. 
At the interbank foreign exchange market, the local unit opened lower at 81.69 and touched a low of 81.72 against the US dollar in line with losses in the equity markets, PTI reported. 
 
The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.16 per cent to 101.76. 
 
According to , a weak Dollar index and a decline in crude oil prices cushioned the downside. Further, FPO-related foreign inflows also supported the rupee at lower levels, he said.

"We expect the rupee to trade with a slight negative bias amid a weak tone in the domestic markets and expectations that the US Dollar may rise on safe-haven appeal," Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said.

Choudhary further said that month-end dollar demand from importers and selling pressure from FIIs may also put downside pressure on the rupee. "Traders may remain cautious ahead of India's union budget and US FOMC meeting later this week. USDINR spot price is expected to trade in a range of Rs 81 to Rs 82.20," Choudhary said.

Global oil benchmark Brent crude futures fell 0.25 per cent to USD 86.44 per barrel.

"The rupee remained in a range of 81.50 to 81.72 as it gained after $ selling by exporters due to month end. The dollar index also fell to 101.71 while Brent oil was at $ 86.26. Asian currencies continued to remain range bound," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.&nbsp;

"Range for tomorrow&nbsp; 81.30 to 81.80," he added.

Expert Take

"Continuing with the bearish momentum from the last week the Nifty opened gap down &amp; went down to breach the last week’s low of 17493. On the downside it received support near 17400 &amp; recovered sharply towards the end of the session, resulting in a positive daily close. Consequently, the Nifty managed to hold above the 61.8% retracement of the Sept – Dec 2022 rise &amp; 200 DEMA, which are near 17550. This makes today’s low of 17405 a crucial support. On the higher side, the index can test 17800, which will now act as a resistance as per the principle of role reversal."--&nbsp;Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

In the 50-stock Nifty50, 29 stocks advanced with Bajaj Finance, Adani Enterprises, UltraTech Cement Company, Bajaj Finserv and Asian Paints ending&nbsp;as top gainers. The top losers were Power Grid, Bajaj Auto, IndusInd Bank, Larsen &amp; Toubro and JSW Steel


Closing Bell: Sensex, Nifty rebound from 3-month lows, break 2-day losing streak; Bajaj twins among top gainers

Hinduja Global Solutions Limited will buyback shares worth Rs 1,020 crore at price of Rs 1,700 per share, the company said in its filing to the stock exchanges. The decision was taken in a board meeting held on Friday, 27 January.

Hinduja Global shares today ended at Rs 1,300 on the NSE and were down by Rs 4.45 or 0.34 per cent from the Wednesday closing price, tracking overall weakness in the domestic stock markets.

<h2>Hinduja Global Shares Buyback: Record Date</h2>

The record date for buyback is 6 March and nearly 60 lakh equity shares representing 24.59 per cent and 13.43 per cent of the aggregate of the fully paid-up equity share capital and free reserves will be on the block, the exchange filing said.

Indian frontline indices <a href="http://zeebiz.com/market-news/news-closing-bell-sensex-nifty-bank-nifty-tank-as-street-gets-nervous-on-hindenburg-report-adani-enterprises-crashes-18-219149">S&amp;P BSE Sensex and NSE Nifty50</a> hit 3 month lows on Friday due to the aftereffects of the Hindenburg Research report on the Adani Group companies. While BSE ended at 59,330.90, down 874.16 points or 1.45 per cent, the broader market Nifty50 settled at 17,604.35, lower by 287.60 points or 1.61 per cent. Banking gauge Nifty Bank tanked 1,302 points or over 3 per cent to finish at 40,345.30.

Markets were shut on Thursday on account of Republic Day.

<h2>Hinduja Global Shares: Performance</h2>

Hinduja Global Solutions stock has outperformed the broader market Nifty50 by 1.5 per cent over a 1-year period and has given returns of 4.4 per cent as against 2.9 per cent returned by the 50-share index. The stock is trading at a Price-to-Book (PB) value of 0.70, according to data sourced from Trendlyne.

One-year beta, a measure of volatility in the stock is 0.84, which is considered low. A level below 1 is seen as less volatile.

The 52-week high for this stock is Rs 2,820 which it hit on 18 February, 2022, while the 52-week low is Rs 846, which was hit on 13 May, 2022.

Record date for buyback is 6 March and nearly 60 lakh equity shares representing 24.59% and 13.43% of the aggregate of the fully paid-up equity share capital and free reserves will be on the block


Hinduja Global Shares Buyback: HGSL approves buyback at Rs 1,700 per share — Check record date

Closing Bell: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 hit 3 month lows on Friday as a fallout of the&nbsp;<a href="https://www.zeebiz.com/market-news/news-sensex-nifty-sink-for-2nd-straight-session-as-adani-group-stocks-weigh-down-icici-bank-axis-bank-hdfc-bank-shares-5-factors-adani-group-stocks-hindenburg-report-icici-bank-axis-hdfc-bank-219082">Hindenburg Research report</a> on the Adani Group companies. While BSE ended at 59,330.90, down 874.16 points or 1.45 per cent, the broader market Nifty50 settled at 17,604.35, lower by&nbsp;287.60 points or 1.61 per cent. Banking gauge Nifty Bank tanked 1,302 points or over 3 per cent to finish at&nbsp;40,345.30.

In the 50-stock Nifty50, 12 stocks gained, 37 declined and 1 remained unchanged. The top gainers were Tata Motors, <a href="https://www.zeebiz.com/market-news/news-bajaj-auto-share-price-q3-results-profit-revenue-margin-pulsar-dominar-two-wheeler-sales-219086">Bajaj Auto</a>, Dr Reddy's Laboratories, ITC and Cipla while the top losers were Adani Enterprises, Adani Ports, State Bank of India (SBI), ICICI Bank and Indusind Bank.

The domestic markets were mired by high volatility. India VIX, a measure of volatility in Nifty50 settled at&nbsp;17.32 up&nbsp;18.18 per cent.

The Adani Enterprises&nbsp; shares have fallen below the FPO price and concerns are now emerging if the Rs 20,000 crore&nbsp;FPO will get fully subscribed or not.&nbsp;

[[{"fid":"223839","view_mode":"default","type":"media","link_text":null,"attributes":{"height":437,"width":594,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"223841","view_mode":"default","type":"media","link_text":null,"attributes":{"height":431,"width":581,"class":"media-element file-default"}}]]Source: NSE

Out of 15 sectoral indices, 11 closed in the red. The worst performing indices were Nifty PSU Bank (-5.43 per cent), Nifty Metal (-4.69 per cent) and Nifty Bank (-3.13 per cent) and Nifty Oil &amp; Gas (-5.60 per cent). The top performers were Nifty Auto (+1 per cent), Nifty Pharma&nbsp;(+0.55 per cent) and Nifty Healthcare Index (+0.51&nbsp;per cent).&nbsp;

[[{"fid":"223846","view_mode":"default","type":"media","link_text":null,"attributes":{"height":392,"width":691,"class":"media-element file-default"}}]]Source: NSE

Selling pressure was seen even in the broader markets. Nifty MId Cap 100 settled at 30,241.90, down by 452.40 or 1.47 per cent. In the 100-share index, advances&nbsp;were seen in 20 stocks, declines in&nbsp;79 while one remained unchanged. The top gainers were Max Healthcare Institute, Emami Limited, Tube Investments of India while the top losers were Dixon Technologies, Hindustan Petroleum and Bank of India.

Meanwhile, in Nifty Small Cap 100 index, onlt 23 stocks gained against 77 losers. The index fell by 178.25 points&nbsp;or 1.89 per cent to close at 9,242.70. The top gainers were PVR, Medplus Health and Amararaja Batteries while the top losers were IRB Infrastructure, Quess Corp and Renuka Sugars.

Rupee gains 8 paise to close at 81.53 (provisional) against US dollar, PTI reported.

The rupee traded in a small zone of 81.48-81.65 as share markets fell by about 2 per cent on account of concerns relating to Adani Group of companies which drowned other shares also, Anil Kumar Bhansali, Head of Treasury Finrex&nbsp; Treasury Advisors LLP said. "Dollar Index was ranged as where Asian currencies, oil and Gold. With currencies generally&nbsp; stronger against USD rupee has not weakened much despite the fall in stock markets. Possibly due to Bank strikes on 30/31st we may be seeing some selling on dollar rupee," Bhansali said. He sees the range for Monday to be between 81.20 to 82.00.

Expert Take

&nbsp;"The Nifty started the week on a positive note however witnessed steep selling pressure in the second half of the week. As a result, it broke down from the consolidation range, which it was witnessing for the last one month. It broke the support zone of 17800-17760, which will now act as a resistance as per the principle of role reversal. On the downside, the Nifty has halted near the 61.8% retracement of the Sept – Dec 2022 rise &amp; 200 DEMA, which are near 17550. Today’s low of 17493 will be a key support. If that is breached then the decline can continue till 17300." --&nbsp;Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas​&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)&nbsp;&nbsp;

Closing Bell: Sensex, Nifty, Bank Nifty tank as street gets nervous on Hindenburg report; Adani Enterprises crashes 18%

Indian stock markets will resume trading on Friday amid a host of local and global factors. Equity and commodity markets were closed for trading on Thursday on account of 74th Republic Day. Zee Business has collated 10 factors that are likely to impact movement when trading starts tomorrow.

Both, NSE and BSE will migrate to <a href="https://www.zeebiz.com/market-news/news-indian-stock-markets-set-to-migrate-to-t1-settlement-cycle-from-friday-219018">T+1 settlement</a> cycle from tomorrow.

<a href="http://zeebiz.com/market-news/news-closing-bell-hdfc-bank-reliance-engineer-market-crash-sensex-falls-773-points-nifty-declines-by-226-points-218795">Wednesday Market Recap:</a> On Wednesday, selling pressure in index heavyweights HDFC Bank, Reliance Industries and ICICI Bank led to a market crash.&nbsp;S&amp;P BSE Sensex and Nifty50&nbsp;ended the January series on a negative note. While Sensex settled at&nbsp;60,205.06, down by 773.69 points or&nbsp;1.27 per cent while the broader market Nifty finished 226.35 points or 1.25 per cent lower at&nbsp;17,891.95. Banking gauge Nifty Bank closed at&nbsp;41,647.90, down by over 1,000 points or 2.54 per cent.

In the 50-stock Nifty, 35 stocks declined against gains seen in the remaining 15 stocks. Bajaj Auto, Hindustan Unilever, Hindalco Industries, Maruti Suzuki and Britannia Industries were the top gainers while top gainers were Adani Ports, State Bank of India (SBI), Indusind Bank, HDFC Bank and HDFC.&nbsp;

Triggers for Friday, 27 January, 2023

1) US Markets: When domestic equity markets resume trading tomorrow, they are likely to take cues from global markets. Friday morning trade in Dow Futures and Singapore-based SGX Nifty futures are likely to prepare ground for movement of Indian benchmark indices Sensex and Nifty50. SGX Nifty futures set the tone for momentum in Nifty.&nbsp;All three benchmark indices were trading positive. Dow 30 was trading at 33,852.50, up 108.67 points or 0.32 per cent while S&amp;P 500 were up 29 points or 0.73 per cent at 4,045.64. Nasdaq Composite was trading at 11,464.10, higher by 150.75 points or 1.33 per cent.

<a href="http://zeebiz.com/world/news-us-economy-slowed-in-december-quarter-but-still-grew-at-29-wall-street-gains-219026">US economy slowed in December quarter but still grew at 2.9 per cent; Wall Street gains</a>

At the time of filing the story, Dow Futures were trading with marginal gains of 29.20 points or 0.09 per cent at 33,773. SGX Nifty was trading at 17,988, up by 34.5 points or 0.19 per cent.

Investors must also keep a track on Thursday closing of benchmark indices trading on Wall Street.

[[{"fid":"223696","view_mode":"default","type":"media","link_text":null,"attributes":{"height":276,"width":316,"class":"media-element file-default"}}]]&nbsp;Source: NSE

2) Rupee Vs Dollar: Movement of rupee against the US Dollar remains a key determinant of how domestic markets perform tomorrow. On Wednesday, Rupee slips 1 paisa to settle at 81.64 (provisional) against US dollar, PTI reported. The rupee remained boxed in a range of 81.48/81.75 for the day as Adani FPO was fully subscribed and national banks bought dollar for possibly oil companies, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. Dollar Index remains below 102 against the basket of six major currencies, Bhansali said. Asian currencies were also trading within a range, said. Rupee is expected to be in a range of 81.20 to 81.90 on Friday with oil bids and inflows being the deciding factor, he further said.

3) Q3 Results: Expect stock specific action in <a href="https://www.zeebiz.com/market-news/news-cipla-q3-results-share-price-profit-revenue-margin-sales-pharma-stocks-218790">Cipla</a>, <a href="https://www.zeebiz.com/market-news/news-tvs-motor-share-price-results-profit-revenue-auto-sales-electric-scooter-bookings-218763">TVS Motor Company</a>, <a href="https://www.zeebiz.com/companies/news-q3-results-2023-jyothi-labs-blue-dart-express-indian-bank-and-ceat-declare-december-quarter-results-highlights-218852">Jyothi Labs, Blue Dart Express, Indian Bank, Ceat</a>, <a href="https://www.zeebiz.com/companies-news/news-q3-results-2023-uco-bank-macrotech-developers-and-strides-pharma-declare-december-quarter-results-highlights-218676">Uco Bank, Macrotech Developers and Strides Pharma</a> who announced their December quarter earnings on Wednesday. Today, <a href="http://admin.zeebiz.com/companies/news-q3-results-2023-igl-share-price-indigrid-trust-nse-bse-stock-market-closed-219021">IGL and IndiGrid</a> declared their quarterly earnings.

Several listed companies will report their Q3 results on Friday. In the Nifty50 pack, Bajaj Finance will announce results. Others include, Aarti Drugs, Vedanta Limited, Godfrey Philips, CMS Info Systems and others.

4) Stocks in News: Japan's Suzuki Motor Corporation on Thursday said it will introduce six battery electric vehicles in India by FY2030 as part of its growth strategy and achieve carbon neutrality by 2070 as per the target set by the government. In the growth strategy for FY2030 shared on BSE by its Indian arm Maruti Suzuki India, Suzuki Motor Corporation (SMC) said in India, it will provide not only battery EVs but also carbon-neutral internal combustion engine vehicles using CNG, biogas and ethanol mixed fuels. Meanwhile, Mahindra &amp; Mahindra opens booking for E-SUV XUV 400; Route Mobile declares interim dividend of Rs 6.&nbsp;<a href="http://zeebiz.com/companies/news-vodafone-idea-board-to-discuss-rs-1600-crore-debenture-issue-for-atc-on-january-31-219027">Vodafone Idea</a> board to discuss Rs 1,600 crore debenture issue for ATC on January 31

5) Stocks in Ban on 27 January, 2023: No stocks are in ban.

6) FII /DII Action: Foreign institutional investors were net sellers of Indian equities at Rs 2,393.94 crore while domestic institutional investors were net buyers at Rs 1,378.49 crore.

7) Bulk Deals: Over a dozen companies witnessed bulk deal action on NSE on Wednesday. Among them were Kohinoor Foods, Aarti Surfactants, Bright Solar, Nureca, South Indian Bank and others. Investors in these stocks must keep an eye on them.

8) Anil Singhvi Strategy on Nifty, Bank Nifty: Friday marks the beginning of February series and markets are slightly in an oversold territory, Zee Business Managing Editor said. Nifty will find support at 17,750-17,850. If Nifty slips further, an opening will be triggered to levels between 17,200 and 17,300. Resistance is seen at 18,000. As for Bank Nifty, more weakness will emerge if the banking gauge slips below 41,500. It will regain strength over 42,000.

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/BazaarAajAurKal?src=hash&amp;ref_src=twsrc%5Etfw">#BazaarAajAurKal</a> में देखिए आज के शेयर बाजार का लेखा-जोखा और कल के बाजार का अनुमान <a href="https://twitter.com/rainaswati?ref_src=twsrc%5Etfw">@rainaswati</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/UZoHUqo9RP">https://t.co/UZoHUqo9RP</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1618246564853739520?ref_src=twsrc%5Etfw">January 25, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Commodities: February Gold futures ended at Rs 57,005 per 10 gram and were up by Rs 36 or 0.06 per cent. March Silver futures settled at Rs 68,745 per kg, up by Rs 203 or 0.30 per cent. February Oil futures closed at Rs 6,542, down by Rs 20 or 0.30 per cent.

[[{"fid":"223697","view_mode":"default","type":"media","link_text":null,"attributes":{"height":543,"width":867,"class":"media-element file-default"}}]]&nbsp;Source: MCX

10) Budget 2023: Last but not the least, street will be tracking developments around Union Budget 2023. Finance Minister Nirmala Sithraman will be reading her budget speech on 1 February, Wednesday. Budget Session of Parliament begins on 31 January, Tuesday.

Expert Take

"Nifty was trending in the range for the whole January series from 18,200 to 17,800 levels. On the monthly expiry day, Nifty slumped in a terrifying session and ended way below psychological 18,000 mark to close the series at 17,892. The level of 17,800, which is the 50% retracement support of recent up move is still intact and acting as an anchor point for the index. 
The benchmark Index in January expiry has made a couple of attempts to breach 17,800 – 17,780 levels but was not successful as prices were continuously finding support near that zone. 
Nifty on the weekly chart is placed between a broader high-low range of 18,200 -17,800 levels from the past 5 weeks. Furthermore, the price is also trapped between the 9 &amp; 21 EMA bands which suggest a break on either side will decide further directional move in the index." -- Rohan Patil, Technical Analyst at SAMCO Securities

"The Nifty opened on a negative note on January 25 &amp; tumbled down sharply as the day progressed. It breached the key daily moving averages on the way down. The larger structure, however, shows that the index is still in the range, which it has been witnessing for last one month. It recently tested the upper end of the range &amp; thereon it has tumbled down towards the lower end i.e. 17800-17760. This zone has been acting as a strong support &amp; is likely to provide support this time as well. Thus unless the level of 17760 breaks, the Nifty can witness recovery within the short term range." -- Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Domestic equity markets will resume trading on Friday taking cues from Wall Street closing on Thursday; Q3 results, rupee movement against dollar and development around Budget 2023 may also play a decisive role in the way frontline indices trade


Sensex, Nifty to resume trading on Friday amid local, global triggers – here are 10 things to watch out for

Budget 2023 Expectations:&nbsp;Government needs to review its exemption limits under Section 80C and for pension products to make them more lucrative for the policy seekers, Niraj Shah, Chief Financial Officer at HDFC Life Insurance Company tells Zee Business Web Team.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Lot of people see tax as a way of evaluating insurance products and some of the exemption limits need to be reviewed in terms of Section 80C or increase in exemption limits of pension products which are made available to senior citizens, he said. The latter are unfortunately taxed twice, he added.&nbsp;

He said that tax benefits to people will not only ease government’s own burden but also make it lucrative for them to take it.&nbsp;

Emphasising on the importance of these measures, Shah said that&nbsp;the government must do everything that can be done to support insurance penetration and growth.&nbsp;Amid very less social security, low&nbsp;awareness and affluence,&nbsp;70 per cent of the expenses are out of pocket.

The company has advanced on the dematrialisation front – a regulatory requirement mandated by the insurance regulator. “As of now 40 per cent of our policies are in that form,” he said adding that the HDFC Life is going ahead and pushing its partners to achieve 100 per cent.&nbsp;

Insurance Premium Price Trajectory

Shah also assured potential policy buyers of not implementing any further premium hikes over a near term. The company has already had a couple of rounds of premium reset in line with the price requirements, the CFO said.&nbsp;

The company plans to go deeper into tier-2 and tier-3 markets and expand business beyond the salaried class of certain income profile, he added. As the profile changes, the risks associated with them will also keep changing and the pricing will be reflected in those changes, he informed.&nbsp;&nbsp;

“That happens in all businesses where input costs determine the final pricing. For us, the input is the risk and as it goes up the premium is expected to go up,” Shah said.&nbsp;

Q3FY23 Earnings&nbsp;&nbsp;&nbsp;

The company delivered consistent performance across all key metrics, it said in its filing to the exchanges. The private market share stood at 15.8 per cent while value of new business (VNB) registered growth of 22 per cent for the 9-month ended 31 December 2022. Profit After Tax was at 18 per cent during this period. Operating ROEV stood at 17.5 per cent over the 9-month period ended 31 December 2022. The company reported a 52 per cent growth in credit protect business, the company filing said.&nbsp;&nbsp;The quarterly earnings were declared on Friday, 20 January, 2023.&nbsp;

“It has been a very good quarter on the overall delivery. We have grown faster than the sector in the quarter.&nbsp;&nbsp;Growth in the quarter has been 25 per cent. VBN growth has been 22 per cent. We are expanding distribution we had a tie-up with AU small finance bank overall we believe it has been a good quarter,” Shah said.

Finance Minister Nirmala Sitharaman will be presenting her last full Budget of the Narendra Modi 2.0 government before the country goes for general elections, next year.&nbsp;Ahead of the Union Budget, FM Nirmala Sitharaman will perform the annual budget ritual of '<a href="https://www.zeebiz.com/union-budget/news-budget-2023-fm-nirmala-sitharaman-to-perform-halwa-ceremony-today-know-all-about-the-ritual-218948">Halwa Ceremony</a>' on the occasion of 74th Republic Day in the Budget Press situated inside North Block.

Company is unlikely to implement any further premium hikes over a near term, CFO Niraj&nbsp;Shah assures potential policy buyers. The company has already had a couple of rounds of premium reset in line with the price requirements, he adds


Budget 2023 Expectations: Govt needs to revisit tax exemption limits to make insurance buying lucrative: Niraj Shah, CFO HDFC Life

Closing Bell: Selling pressure in index heavyweights HDFC Bank, Reliance Industries and ICICI Bank led to a market crash on Wednesday. <a href="https://www.zeebiz.com/market-news/live-updates-senesx-nifty-live-india-stock-market-budget-2023-tata-motors-elxsi-bajaj-auto-dr-reddy-sbi-card-tvs-nazara-218694">S&amp;P BSE Sensex and Nifty50</a> ended the January series on a negative note. Markets will remain closed on Thursday on account of Republic Day 2023. While Sensex setlled at&nbsp;60,205.06, down by 773.69 points or&nbsp;1.27 per cent while the broader market Nifty finished 226.35 points or 1.25 per cent lower at&nbsp;17,891.95. Banking gauge Nifty Bank closed at&nbsp;41,647.90, down by over 1,000 points or 2.54 per cent.

In the 50-stock Nifty, 35 stocks declined against gains seen in the remaining 15 stocks. Bajaj Auto, Hindustan Unilever, Hindalco Industries, Maruti Suzuki and Britannia Industries were the top gainers while top gainers were Adani Ports, State Bank of India (SBI), Indusind Bank, HDFC Bank and HDFC.&nbsp;

India VIX, a measure of volatility in Nifty was up by over 7 per cent to 14.66.&nbsp;

[[{"fid":"223440","view_mode":"default","type":"media","link_text":null,"attributes":{"height":433,"width":581,"class":"media-element file-default"}}]]Source: NSE&nbsp;

[[{"fid":"223441","view_mode":"default","type":"media","link_text":null,"attributes":{"height":440,"width":589,"class":"media-element file-default"}}]]Source: NSE

All 15 Nifty sectoral indices ended in the red with banking and financial stocks witnessing a severe drubbing at the hands of the investors. Nifty PSU Bank (-3.58 per cent), Nifty Bank (-2.54) were the worst performers today. Nifty Realty and Nifty Oil &amp; Gas were other major laggards today.

Broader markets also witnessed rout amid selling pressure. Nifty Mid Cap 100 closed at&nbsp;30,694.30, down 457.55 points or 1.47 per cent. In the 100-stock index, only 13 stocks ended positive. The top gainers were Sona BLW Precision, TVS Motor and Max Financial Services while top losers were Adani Wilmar, Concor, Aurobindo Pharma. Meanwhile, Nifty Small Cap 100 closed at 9,420.95, lower by 110.15 points or 1.16 per cent. In the 100-share index 85 stocks declined. VIP Industries, Radico Khaitan and KEI International gained most while Granules India, Delta Corp and Indiabulls Housing declined most.

Several listed companies announced their December quarter earnings today during market hours. <a href="https://www.zeebiz.com/market-news/news-cipla-q3-results-share-price-profit-revenue-margin-sales-pharma-stocks-218790">Cipla</a> on Wednesday reported a net profit of Rs 801 crore for the October-December period, an increase of 9.9 per cent compared with the corresponding period a year ago.&nbsp;The Mumbai-based drug maker's revenue grew six per cent on a year-on-year basis to Rs 5,810.1 crore, according to a regulatory filing. Both topline and bottomline fell short of analysts' estimates.&nbsp;<a href="https://www.zeebiz.com/market-news/news-tvs-motor-share-price-results-profit-revenue-auto-sales-electric-scooter-bookings-218763">TVS Motor</a> shares bucked market trend powered by strong Q3 performance.

Rupee slips 1 paisa to settle at 81.64 (provisional) against US dollar, PTI reported. The rupee remained boxed in a range of 81.48/81.75 for the day as Adani FPO was fully subscribed and national banks bought dollar for possibly oil companies, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said. Dollar Index remains below 102 against the basket of six major currencies, Bhansali said. Asian currencies&nbsp; were also trading within a range, said. Rupee is expected to be in a range of 81.20 to 81.90 on Friday with oil bids and inflows being the deciding factor, he further said.&nbsp;

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

Sensex setlled at&nbsp;60,205.06, down by&nbsp;773.69&nbsp;points or&nbsp;1.27&nbsp;per cent while the broader market Nifty finished&nbsp;226.35&nbsp;points or 1.25 per cent lower at&nbsp;17,891.95


Shivendra Kumar