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Stock Markets on Wednesday, 25 January 2023: Indian frontline indices will resume trading on Wednesday amid a host of local and global triggers. Zee Business has collated a list of 10 factors that are likely to impact movement when domestic equity markets reopen tomorrow. Take a look!

<a href="http://zeebiz.com/market-news/news-closing-bell-sensex-nifty-end-flat-as-weakness-in-reliance-industries-axis-bank-drag-frontline-indices-218619">Tuesday Recap</a>: On Tuesday, Indian markets ended flat on what was an uneventful Tuesday. Frontline Indices S&amp;P BSE Sensex closed at 60,978.75, up by 37.08 points or 0.06 per cent while the broader market NSE Nifty50 retreated by nearly 14 points or 0.08 per cent from the Monday closing at 18,104.80. Banking gauge Nifty Bank settled at 42,720.70, down by 100.55 points or 0.23 per cent.

In the 50-stock Nifty50, 21 advanced against 29 declines. The top gainers were Tata Motors, Maruti Suzuki, Bajaj Auto, Britannia Industries and HCL Technologies while the top losers were Axis Bank, Hindalco Industries, Dr Reddy' Laboratories, Power Grid and SBI Life.

10 Triggers:

US Markets: Wall Street was mired by selling pressure as benchmark indices retreated in early trade. Dow 30 was trading at 33,539.50, down by 90.03 points or 0.27 per cent while S&amp;P 500 fell 16 points or 0.41 per cent at 4,003.45. Nasdaq Composite &nbsp;was trading at 11,326.20, down 38.22 points or 0.34 per cent. When Indian markets open tomorrow, they are expected to take cues from their US peers. Meanwhile Dow futures were trading at 33,539, down by 90.40 points or 0.27 per cent around this time. Singapore-listed SGX Nifty futures, an early indicator of movement in Nifty50 were trading at 18,122, lower by 12.5 points or 0.07 per cent.

[[{"fid":"223300","view_mode":"default","type":"media","link_text":null,"attributes":{"height":282,"width":311,"class":"media-element file-default"}}]]&nbsp;Source: Comex

2) Rupee Vs Dollar: The rupee fell 28 paise to close at 81.70 against the US dollar on Tuesday amid stronger American currency and unabated foreign fund outflow. However, lower crude prices capped the losses in the local unit, forex traders said. At the interbank foreign exchange market, the rupee opened lower at 81.61 to a dollar against the previous close of 81.42. The domestic currency lost ground during the day and hit a low of 81.76 a dollar but moved up to the level of 81.43 before closing at 81.70 a dollar. On Monday, the rupee had declined by 25 paise to close at 81.42 against the US dollar.

Oil companies seem to have again started buying dollars and keeping it well bid as also dollar index which has crossed 102 levels getting supported at 101.50. Brent oil was also below USD 88 to a barrel while Asian currencies&nbsp; weakened a bit, Anil Kumar Bhansali, Head of Treasury at Finrex&nbsp; Treasury Advisors LLP said. Rupee looks to trade in a range of 81.40 to 82.10 tomorrow as USD bounces back, Bhansali opines.

3) Q3 Results 2023: In the Nifty50 pack, Maruti Suzuki reported two-fold jump in net profit to Rs 2,351.3 crore for the quarter ended December 2022. Several listed companies declared their quarterly earnings today. Among them were <a href="https://www.zeebiz.com/companies/news-q3-results-2023-q3-results-2023-sona-blw-precision-forgings-gateway-distriparks-pnb-housing-finance-tata-coffee-share-stock-markets-nse-bse-218659">Sona BLW, Gateway Distriparks, PNB Housing, Tata Coffee</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>.

Over 5 dozen companies will announce their October-December quarter results on 25 January. Cipla, <a href="https://www.zeebiz.com/companies/news-tata-motors-bajaj-auto-q3-results-preview-december-quarter-earnings-maruti-suzuki-dr-reddys-share-price-nse-bse-218671">Bajaj Auto and Tata Motors</a> are among the Nifty50 companies. Among others, Amara Raja Batteries, Arvind, Bikaji Foods, Blue Dart, Dixon, DLF, Ceat and 20Microns will declare their earnings.

4) Stocks in News: United Spirits company board approves sale of all its equity shares in Sovereign Distilleries; Bharti Aitel announced the launch of its 5G services in Coimbatore, Madurai, Hosur, Trichy. Airtel’s 5G services are already live in Chennai;&nbsp;<a href="https://www.zeebiz.com/companies/news-zomato-10-minute-delivery-news-food-not-shutting-down-clarifies-company-218646">Zomato</a> 10 minute delivery not shutting down, clarifies company.

5) FII / DII Action: Foreign institutional investors were net sellers of Indian equities at Rs 760 crore while domestic institutional investors were net buyers at Rs 1,144.75 crore.

6) Stocks in Ban: No stocks are in ban for trading on Wednesday.

7) Bulk Deals: Over two dozen companies witnessed bulk deal transaction today. Among them were Kohinoor Foods, Banaras Beeds, Kamdhenu Ispat, Nureca and Orient Press. Investors must keep an eye in this stocks based on the developments.

8) Anil Singhvi Strategy on Nifty, Bank Nifty: Zee Business Managing Editor said that Nifty50 will find support at 18,000-18,025 while resistance at 18,150-18,200. As for Bank Nifty, support is seen at 42,300-42,500 while resistance is seen at 43,000-43,200.

<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://twitter.com/hashtag/AnilSinghvi?src=hash&amp;ref_src=twsrc%5Etfw">#AnilSinghvi</a> <a href="https://t.co/J5sgOK0WtE">https://t.co/J5sgOK0WtE</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1617883922507137024?ref_src=twsrc%5Etfw">January 24, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Tomorrow is also a day of monthly expiry as domestic markets will remain closed on Thursday on account of Republic Day.

10) Commodities Markets: MCX February Gold futures were trading at Rs 56,950 per 10 gram, up by Rs 135 or 0.24 per cent while March Silver futures were trading at Rs 68,620 per kg, up by Rs 656 or 0.97 per cent. February Crude Oil futures were trading at Rs 6,561 per bbl, down by Rs 144 or 2.15 per cent.

[[{"fid":"223303","view_mode":"default","type":"media","link_text":null,"attributes":{"height":539,"width":876,"class":"media-element file-default"}}]]Source: MCX

Expert's Take:&nbsp;

"The Nifty had a gap up opening on January 24 &amp; crossed the swing high of 18184 however couldn’t sustain in the higher territory. The hourly upper Bollinger Band has become flat &amp; is keeping pressure on the higher side. As a result, the Nifty stayed back into the brief consolidation mode. It is forming a base near the key hourly &amp; the daily moving averages. On the daily chart, the index is forming higher top higher bottom &amp; is expected to see upward trajectory. In the short term, the Nifty is expected to surpass the key hurdle zone of 18260-18300 &amp; head towards 18500. On the other hand, the level of 18000 will provide cushion on the downside." --&nbsp;Gaurav Ratnaparkhi, Head of Technical Research, 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.)

Anil Singhvi Strategy on Nifty, Bank Nifty: Zee Business Managing Editor said that Nifty50 will find support at 18,000-18,025 while resistance at 18,150-18,200. As for Bank Nifty, support is seen at 42,300-42,500 while resistance is seen at 43,000-43,200


Stock Markets on Wednesday, 25 January 2023: 10 triggers that could impact Sensex, Nifty on monthly expiry day

Closing Bell: Indian markets ended flat on what was an uneventful Tuesday. Frontline Indices S&amp;P BSE Sensex closed at&nbsp;60,978.75, up by 37.08 points or 0.06 per cent&nbsp;while the broader market NSE Nifty50 retreated by nearly 14 points or 0.08 per cent from the Monday closing at 18,104.80. Banking gauge Nifty Bank settled at&nbsp;42,720.70, down by&nbsp;100.55 points or 0.23 per cent.

In the 50-stock Nifty50, 21 advanced against 29 declines. The top gainers were Tata Motors, Maruti Suzuki, Bajaj Auto, Britannia Industries and HCL Technologies while the top losers were Axis Bank, Hindalco Industries, Dr Reddy' Laboratories, Power Grid and SBI Life.

India VIX, a measure of volatility in Nifty was down 0.29 per cent at&nbsp;13.66.&nbsp; 
&nbsp;

[[{"fid":"223202","view_mode":"default","type":"media","link_text":null,"attributes":{"height":428,"width":585,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"223203","view_mode":"default","type":"media","link_text":null,"attributes":{"height":430,"width":593,"class":"media-element file-default"}}]]Source: NSE&nbsp;&nbsp;

Out of 15 Nifty sectoral indices, 9 closed in the red with Nifty PSU Bank (-1.36 per cent) at the receiving end of the investor ire. It was followed by Nifty Healthcare Index (-1.03 per cent) and Nifty Realty (-1.01 per cent). The gainers were Nifty Auto (+1.28 per cent), Nifty IT&nbsp;(+0.77 per cent) and Nifty Media (+ 0.41 per cent).

The broader markets performed worse with Nifty Mid Cap 100 and Nifty Small Cap 100 ending with considerable gains. Nifty Mid cap 100 ended at&nbsp;31,151.85, down by 121.95 points or 0.39 per cent. Advances were seen in 31 stocks, declines&nbsp;in 66 while three remained unchanged. The top gainers were Adani Wilmar, Sona BLW Precisions and Poonawalla FIncorp while the top losers were Tata Communications, Syngene and Delhivery.

Meanwhile, Nifty Small Cap 100 closed at 9,531.10, lower by 35.40 points or 0.37 per cent. 39 stocks gained while 61 declined.&nbsp;The top gainers were Route Mobile, PVR and Delta Corp while the biggest losers were Maharashtra Bank, RBL Bank and Redington.&nbsp;

Earlier today,&nbsp;<a href="https://www.zeebiz.com/market-news/news-maruti-suzuki-q3-results-net-profit-more-than-doubles-beats-estimates-margin-improves-by-310-bps-218604">Maruti Suzuki</a>&nbsp;and <a href="https://www.zeebiz.com/market-news/news-sbi-card-q3-results-share-price-profit-credit-spending-margin-218609">SBI Card</a> announced their Q3 Results during market hours. The country's largest carmaker reported a more than two-fold jump in net profit to Rs 2,351.3 crore for the quarter ended December 2022 compared with the corresponding period a year ago, far exceeding analysts' estimates. The New Delhi-based auto manufacturer had reported a net profit of Rs&nbsp;1,011.3 crore for the quarter ended December 2021. Revenue of the auto major expanded&nbsp;24.9 per cent to Rs&nbsp;29,044.3 crore, according to a regulatory filing. Meanwhile,&nbsp;&nbsp;

SBI Cards and Payment Services — which issues credit cards under brand SBI Card — on Tuesday reported a net profit of Rs&nbsp;509 crore for the quarter ended December 2022, up 32 per cent compared with the corresponding period a year ago, missing analysts' estimates. The SBI Card stock continued to reel under pressure after the earnings announcement. According to <a href="https://www.zeebiz.com/">Zee Business</a> research, SBI Card was estimated to report a quarterly net profit of Rs 595 crore.

Rupee today opened weak at 81.50 against the USD and gained for a brief period amid inflows to test 81.40, Anil Kumar Bhansali&nbsp; 
Head of Treasury at Finrex&nbsp; Treasury Advisors LLP said.&nbsp;

It finally settled at 81.70 (provisional) against US dollar, lower by 28 paise, PTI reported

"Oil companies seem to have again started buying dollars and keeping it well bid as also dollar index which has crossed 102 levels getting supported at 101.50. Brent oil was also below USD 88 to a barrel while Asian currencies&nbsp; weakened a bit while Asian stocks closed higher but were weaker in Europe. Indian Indices were up 0.10 per cent," Bhanali said. He sees&nbsp;Rupee to be in a range of 81.40 to 82.10 on Wednesday as USD bounces back.

Gold futures hit their life time high breaching Rs 57,000 per 10 gram mark.&nbsp;

"The Nifty had a gap up opening on January 24 and crossed the swing high of 18184 however couldn’t sustain in the higher territory. The hourly upper Bollinger Band has become flat &amp; is keeping pressure on the higher side," Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas&nbsp;said.

"As a result, the Nifty stayed back into the brief consolidation mode. It is forming a base near the key hourly and the daily moving averages. On the daily chart, the index is forming higher top higher bottom &amp; is expected to see upward trajectory. In the short term, the Nifty is expected to surpass the key hurdle zone of 18260-18300 &amp; head towards 18500. On the other hand, the level of 18000 will provide cushion on the downside," he said.&nbsp;&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.)

Closing Bell:&nbsp;Indian markets ended flat on what was an uneventful Tuesday. Frontline Indices S&amp;P BSE Sensex closed at&nbsp;60,978.75, up by&nbsp;37.08 points or 0.06 per cent&nbsp;while the broader market&nbsp;NSE Nifty50 retreated by nearly 14 points or 0.08 per cent from the Monday closing at&nbsp;18,104.80


Closing Bell: Sensex, Nifty end flat as weakness in Reliance Industries, Axis Bank drag frontline indices 

Stock Markets on Tuesday, 24 January: Indian stock markets will resume trading on Tuesday amid a host of local and global triggers. Zee Business lists 10 triggers that could impact movement when they reopen tomorrow. &nbsp;&nbsp;

On Monday, domestic <a href="https://www.zeebiz.com/market-news/news-closing-bell-sensex-ends-with-320-points-gain-nifty-90-points-higher-sun-pharma-closes-as-top-gainer-218471">equity markets</a> ended on a positive note to end a two-day losing streak. Frontline indices S&amp;P BSE Sensex ended at 60,941.67, up by 319 points or 0.53 per cent while the broader market NSE Nifty50 advanced by 90.90 points or 0.50 per cent at 18,118.55. The banking gauge Nifty Bank settled at 42,821.25, up by 314.45 or 0.74 per cent.&nbsp;&nbsp;&nbsp;

In the 50-stock Nifty50, 32 advanced while 18 declined. The top gainers were Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra while top losers were Ultratech Cement Company, Grasim Industries, NTPC, Tata Steel and JSW Steel.

10 triggers that may impact movement tomorrow:

1) US Markets:&nbsp;Frontline indices were trading in green on Monday around the time of filing of the story. Dow 30 was trading at 33,575.50, up by 200.01 points or 0.60 per cent while S&amp;P 500 advanced by 34.22 points or 0.86 per cent at 4,006.83. Nasdaq Compposite was trading at 11,296.50, higher by 156.08 poinst or 1.40 per cent.

[[{"fid":"223072","view_mode":"default","type":"media","link_text":null,"attributes":{"height":281,"width":315,"class":"media-element file-default"}}]]&nbsp;Source: Comex

Dow futures were trading at 33,444.50, up 69 points or 0.21 per cent around this time.

Meanwhile SGX Nifty, an early indicator of movement in Nifty was trading at 18,154, up 7.5 points or 0.04 per cent. When markets resume trading tomorrow, they will likely be taking cues from global markets. Today’s closing of the US markets and Tuesday movement in SGX Nifty and Dow Futures will remain key triggers for equity markets.

2) Rupee Vs Dollar: Rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices, PTI reported. At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day. However, the declines were capped as domestic equity markets traded positive and relative weakness in the Dollar Index. On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar. The US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth.

European Central Bank (ECB) President will speak today, Anil Kumar Bhansali, Head of Treasury at Finrex&nbsp; Treasury Advisors said adding that the range for tomorrow&nbsp; is 81.00 to 81.70. “With dollar index still on the lower end, we can expect some sell off on USD-Rupee unless RBI has other idea,” he added.

3) Q3FY22 Results: Expect stock specific action in companies that declared their quarterly earnings on Monday. Among them were, <a href="https://www.zeebiz.com/market-news/news-axis-bank-q3-results-share-price-profit-nii-nim-npa-margin-218476">Axis Bank</a>, <a href="https://www.zeebiz.com/companies/news-q3-results-2023-idbi-bank-canara-bank-triveni-turbine-others-announce-december-quarter-results-rattanindia-power-servotech-power-systems-nse-share-price-highlights-218509">IDBI Bank, Canara Bank, Triveni Turbine</a> and many others.

Many companies will announce their December quarter results on Tuesday. In the Nifty50 pack, <a href="https://www.zeebiz.com/companies/news-maruti-suzuki-q3-results-preview-net-profit-revenue-ebidta-margins-volumes-maruti-share-price-bse-nse-218510">Maruti Suzuki</a> will announce its results. Others in the fray are Colgate Palmolive, HDFC AMC, PNB Housing, Pidilite Industries, PNB Housing, SBI Card, Supreme Industries, Tata Coffee, TVS Motor Company, UCO Bank and several others.

<a href="https://www.zeebiz.com/market-news/news-q3-results-2023-poonawalla-fincorp-hfcl-karur-vysya-bank-others-declare-december-quarter-results-218522">Read More:&nbsp;Q3 Results 2023: Poonawalla Fincorp, HFCL, Karur Vysya Bank others declare December quarter results - HIGHLIGHTS</a>

4) Stocks in NEWS: GAIL Board will meet on 30 January to consider Q3 results; Maruti Suzuki to recall over 11,000 Grand Vitara vehicles manufactured between 8 August and 15 November 2022; Dilip Buildcom gets order worth Rs 19.47 billion after company emerges L1 bidder in a Madhya Pradesh Jal Nigam Maryadit tender.

5) FII / DII Action: Foreign institutional investors were net sellers today and sold equities worth Rs 219.87 crore while domestic institutional investors were net buyers at Rs 434.96 crore. &nbsp;

6) Stocks in Ban: Securities in ban for trade on 24 January, 2023 are Delta Corp, L&amp;T Finance Holdings and PVR.

7) Bulk Deals: Nearly one and half dozen companies witnessed bulk deal action on Monday. Some of the stocks that reported bulk deal transactions include Bright Solar, Chembond Chemicals, Hariom Pipe, Nureca, Kohinoor Foods and others. Investors must watch out for these stocks.

8) Anil Singhvi Strategy on Nifty and Bank Nifty: Managing Editor Anil Singhvi said that Nifty50 has support at 18,000-18,025 while resistance is seen at 18,175-18,250. As for Bank Nifty, support is seen at 42,500-42,700 while resistance is seen at 43,150-43,250.

<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/AnchorDeepak_?ref_src=twsrc%5Etfw">@AnchorDeepak_</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> | <a href="https://twitter.com/hashtag/AnilSinghvi?src=hash&amp;ref_src=twsrc%5Etfw">#AnilSinghvi</a> <a href="https://t.co/whMS1gKgop">https://t.co/whMS1gKgop</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1617521275148316673?ref_src=twsrc%5Etfw">January 23, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Commodity Markets: MCX February Gold futures were trading at Rs 56,538 per 10 gram, down by Rs 120 or 0.21 per cent while March Silver futures were trading at Rs 66,940 per kg, down by Rs 1,607 or 2.34 per cent. February crude oil futures were trading at Rs 6,686 per bbl, up by 66 or 1 per cent.

[[{"fid":"223070","view_mode":"default","type":"media","link_text":null,"attributes":{"height":549,"width":872,"class":"media-element file-default"}}]]Source: MCX&nbsp; &nbsp;&nbsp;

10) Experts View

"Markets maintained the upward momentum through the trading session on positive cues from Asian and European indices. IT stocks emerged as the star performers after getting hammered in recent sessions on worries global IT spending may moderate this year due to likely slowdown in key economies. If the optimism continues, we may see some pre-budget rally in the truncated week. On the technical front, despite the strong momentum it has failed to clear 18180/61200 resistance mark. Currently, the index is trading above 20 day SMA and also holding higher bottom formation on intraday&nbsp; charts which is largely positive. For the traders now, 18000/60500 would be the trend decider level above which, the index could move up to 18200-18250/61200-61500. On the flip side, below 18000/60500 selling pressure is likely to increase. Below the same, the index could slip till 17950-17900/60200-60000" -- Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd.&nbsp;

"The Nifty traded in a range bound manner today though the the overall structure shows that the index is preparing to start the next leg on the upside. On the daily chart, it has started forming higher top higher bottom &amp; once the swing high of 18184 is crossed then one can initiate a fresh long position. The daily upper Bollinger Band is set for an expansion, which will create room for the price action on the higher side. In the short term, the Nifty is expected to surpass the key hurdle zone of 18260-18300 &amp; head towards 18500. On the other hand, the level of 18000 will provide cushion on the downside." -- Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said.

"The Broader index started the first day of the week with bullish enthusiasm and traded near 18,100 levels throughout the day. The triangle pattern breakout on 120 mins chart has most likely completed its retest near 18,000 levels and a structure seems positive to make a new swing high in the coming trading sessions.&nbsp;NIFTY on the daily chart is trading inline near the upper band of the Triangle pattern and prices have shown optimism to sustain above its 9 &amp; 21 EMA. Strong support is around 18,000 levels and while these supports are held, we can expect prices to edge higher towards 18,200 levels. A daily close above 18,200 levels will help the index move further towards 18,350 levels." --&nbsp;Rohan Patil, Technical Analyst, SAMCO Securities.

&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

Anil Singhvi Strategy on Nifty and Bank Nifty:&nbsp;Managing Editor Anil Singhvi said that Nifty50 has support at 18,000-18,025 while resistance is seen at 18,175-18,250. As for Bank Nifty, support is seen at 42,500-42,700 while resistance is seen at 43,150-43,250


Stock Markets on Tuesday, 24 January: 10 triggers that could impact movement in Sensex, Nifty

Closing Bell: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 ended Monday on a positive note. While the Sensex ended at&nbsp;60,941.67, up by 319 points or 0.53 per cent while the broader market Nifty50 advanced by 90.90 points or 0.50 per cent at 18,118.55. The banking gauge Nifty Bank settled at&nbsp;42,821.25, up by&nbsp;314.45&nbsp;or&nbsp;0.74 per cent.&nbsp;&nbsp;&nbsp;&nbsp;

In the 50-stock Nifty50, 32 advanced while 18 declined. The top gainers were Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra while top losers were Ultratech Cement Company, Grasim Industries, NTPC, Tata Steel and JSW Steel.

[[{"fid":"222986","view_mode":"default","type":"media","link_text":null,"attributes":{"height":431,"width":588,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"222987","view_mode":"default","type":"media","link_text":null,"attributes":{"height":430,"width":579,"class":"media-element file-default"}}]]Source: NSE

India VIX, a measure of volatility in Nifty50 ended was down 1.23 per cent at 13.62.

Out of 15&nbsp;Nifty sectoral indices, 13 ended with gains. The top performing indices were Nifty IT (+1.88 per cent), Nifty Pharma (+0.89 per cent) and Nifty Healthcare Index (+0.99 per cent) while worst performers were Nifty Realty&nbsp;(-0.63 per cent) and Nifty Metals (-0.40 per cent).

The broader market action was mixed with stock specific action seen in the Nifty Mid Cap 100&nbsp;and Nifty Small Cap 100 indices. Nifty Mid Cap 100 advanced 0.56 per cent to&nbsp;31,273.80. In the 100-share index, 61 stocks gained with top gainers being Torrent Power, Coforge and Delhivery while the top losers being Yes Bank, JSW Energy and Dalmia Bharat. As for Nifty Small Cap 100, advances were seen in&nbsp;48 stocks, declines in&nbsp;51 while 1 remained unchanged.&nbsp;

In the currency markets,&nbsp; rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices, PTI reported.&nbsp;At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day.&nbsp;However, the declines were capped as domestic equity markets traded positive and relative weakness in the Dollar Index.&nbsp;On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar.&nbsp;The US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth.

The Brent crude rose 0.26 per cent to USD 87.86 per barrel.

Expert Take

"Markets maintained the upward momentum through the trading session on positive cues from Asian and European indices. IT stocks emerged as the star performers after getting hammered in recent sessions on worries global IT spending may moderate this year due to likely slowdown in key economies. If the optimism continues, we may see some pre-budget rally in the truncated week," Shrikant&nbsp;Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd.

"On the technical front, despite the strong momentum&nbsp;it has failed to clear 18180/61200 resistance mark. Currently, the index is trading above 20 day SMA and also holding higher bottom formation on intraday&nbsp; charts which is largely positive. For the traders now, 18000/60500 would be the trend decider level above which, the index could move up to 18200-18250/61200-61500. On the flip side, below 18000/60500 selling pressure is likely to increase. Below the same, the index could slip till 17950-17900/60200-60000," he said.&nbsp;

The Nifty traded in a range bound manner today though the the overall structure shows that the index is preparing to start the next leg on the upside, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said.

"On the daily chart, it has started forming higher top higher bottom &amp; once the swing high of 18184 is crossed then one can initiate a fresh long position. The daily upper Bollinger Band is set for an expansion, which will create room for the price action on the higher side. In the short term, the Nifty is expected to surpass the key hurdle zone of 18260-18300 &amp; head towards 18500. On the other hand, the level of 18000 will provide cushion on the downside," he further said.&nbsp;&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, 32 advanced while 18 declined. The top gainers were Sun Pharmaceuticals, Hindustan Unilever, Eicher Motors, UPL and Tech Mahindra while top losers wereUltratech Cement, Grasim Industries, NTPC, Tata Steel and JSW Steel


Closing Bell: Sensex ends with 320 points gain, Nifty 90 points higher; Sun Pharma closes as top gainer

Stock Market on Friday, 19 January 2023: Indian stock markets will resume trading on Friday amid a host of local and global factors. On Thursday, frontline indices <a href="http://zeebiz.com/market-news/news-sensex-nifty-end-two-day-gaining-streak-amid-profit-booking-on-weekly-expiry-day-218004">S&amp;P BSE Sensex and NSE Nifty50</a> ended in the red, breaking their two-day winning streak. Sensex fell to 60,858.43, down 187.31 or 0.31 per cent on the weekly expiry day while the broader market Nifty50 settled at 18,084.15, lower by 81 points or 0.45 per cent. Banking gauge Bank Nifty finished at 42,293.95, down by 164.05 points or 0.39 per cent.

We have collated 10 factors that could impact movement when equity markets resume trading tomorrow. Take a Look!

1) US Markets: Wall Street’s weakness continued on Thursday. All three benchmark indices were trading in the red. Dow 30 was trading at 33,102.20, down by nearly 200 points or 0.58 per cent while S&amp;P 500 was trading at 3,904.19, down 24.67 or 0.63 per cent. Nasdaq Composite was trading at 10,874.30, down 82.67 points or 0.75 per cent. Dow futures were trading at 33,147.90, down 149.10 points or 0.45 per cent. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

[[{"fid":"222492","view_mode":"default","type":"media","link_text":null,"attributes":{"height":285,"width":320,"class":"media-element file-default"}}]]&nbsp;Source: NSE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;

Singapore-based SGX Nifty, an early indicator of movement in Nifty was trading at 18,131.5, up 18 points or 0.10 per cent.

When Indian markets open tomorrow, they will take cues from global markets.

2) Rupee Vs Dollar: The rupee settled 7 paise lower at 81.37 (provisional) against the US dollar on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 81.45 against the greenback, and finally settled at 81.37, down 7 paise over its previous close. During the session, the rupee also touched an intraday high of 81.27 against the American currency. In the previous session on Wednesday, the rupee had settled at 81.30 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.21 per cent lower at 102.14. PTI

"In the near-term, trend for USDINR remains bearish and breaching 81.20 pave way for 80.60 while on the higher side 81.70, the 100-day simple moving average will act as resistance," Dilip Parmar, Research Analyst, HDFC Securities said. Meanwhile, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP sees USD moving in a range of 80.80 to 82.00 tomorrow.

3) <a href="https://www.zeebiz.com/market-news/news-q3-results-2023-hindustan-zinc-indiamart-au-bank-polycab-havells-pvr-announce-december-earnings-highlights-218077">Q3 Results 2023</a>: Several listed companies announced their quarterly results on Thursday. Among them were <a href="https://www.zeebiz.com/companies/news-hindustan-unilever-hul-q3-results-2023-hul-share-price-nse-bse-hul-q3-profit-revenue-margin-volume-growth-218016">Hindustan Unilever (HUL)</a>, <a href="https://www.zeebiz.com/market-news/news-asian-paints-q3-results-share-price-profit-revenue-margin-raw-material-inflation-217993">Asian Paints</a>, AU Small Finance Bank, Hindustan Zinc, Polycab, PVR and Havells India. Several companies will announce their quarterly results on Friday. In the Nifty50 Pack HDFC Life, JSW Steel and Reliance Industries will declare the December quarter results. Others include Aether Industries, Atul Auto, Bandhan Bank, Coforge, Shakti Pumps, RBL Bank, Nelco and Petronet LNG. &nbsp;

4) Stocks in News: Certain companies are expected to see action based on news related developments - Sun Pharmaceutical’s acquisition of Concert Pharmaceuticals, Bata India’s new CFO Anil Somany, TVS Motor’s board meeting on 24 January to consider interim dividend. Rice stocks could be in action as food regulator FSSAI notifies standards for <a href="https://www.zeebiz.com/market-news/news-in-a-first-fssai-notifies-standards-for-basmati-rice-rules-to-be-in-effect-from-1-august-2023-218058">basmati rice</a>.&nbsp;

5) Anil Singhvi Strategy on Nifty, Bank Nifty: Zee Business Managing Editor said that local triggers remain favourable for Indian markets. Support in Nifty50 is seen at 17,950-18,050 while the resistance is seen at 18,150-18,250. As for Bank Nifty, support is seen between 42,000 and 42,100 while resistance is seen at 42,450-42,550.

<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/AnchorDeepak_?ref_src=twsrc%5Etfw">@AnchorDeepak_</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/Jz0i8Hr5na">https://t.co/Jz0i8Hr5na</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1616072253372002305?ref_src=twsrc%5Etfw">January 19, 2023</a></blockquote>
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6) Stocks in Ban: Securities in Ban for trade on 20 January, 2023: Delta Corp, GNFC, L&amp;T Finance Holdings and Mannapuram.

7) FII / DII Action: Foreign institutional investors were net buyers of Indian equities and bought shares worth Rs 400 crore while domestic institutional investors were net sellers at Rs 129 crore.

8) Bulk Deals: Nearly two dozen companies witnessed bulk deal action on the NSE. Sula Vineyard, Kohinoor Foods, Kshitij Polyline, Atul Auto and Bright Solar are some of the companies who saw bulk deal transactions.

9) Commodities Live: MCX February Gold futures were trading at Rs 56,509 per 10 gram, up by Rs 223 or 0.40 per cent. Meanwhile, March Silver futures were trading at Rs 68,173 per kg, down by Rs 54 or 0.08 per cent.

Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities said that Gold futures could test Rs 57,000. By Diwali 2023 gold futures could test levels between Rs 58,000 and 60000. Sentiments are positive and physical buying will support the gold prices as demand is back to pre-covid levels, Gupta said.

10) Crude Oil: Global oil benchmark Brent crude futures declined 0.94 per cent to USD 84.18 per barrel. PTI. On MCX, February futures were trading at Rs 6,577, up by Rs 27 or 0.41 per cent.

[[{"fid":"222491","view_mode":"default","type":"media","link_text":null,"attributes":{"height":544,"width":872,"class":"media-element file-default"}}]]Source: MCX

Expert’s View: “The Nifty has given a bullish breakout recently from a base triangle pattern formation. On January 19, it witnessed a brief consolidation, which has resulted in an Inside bar pattern on the daily chart. The overall structure shows that this is only a pause &amp; is expected to be followed by the next leg on the upside. From a short term perspective, any dip towards 18050-18000 can be taken as a fresh buying opportunity. Over the next few sessions, the Nifty is expected to surpass the key hurdle zone of 18260-18300 &amp; head towards 18500” -- Gaurav Ratnaparkhi, Head of Technical Research, 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.)

Anil Singhvi Strategy on Nifty, Bank Nifty:&nbsp;Zee Business Managing Editor said that local triggers remain favourable for Indian markets. Support in Nifty50 is seen at 17,950-18,050 while the resistance is seen at 18,150-18,250. As for Bank Nifty, support is seen between 42,000 and 42,100 while resistance is seen at 42,450-42,550


Stock Market on Friday, 20 January 2023: 10 triggers that could impact movement in Nifty, Sensex

Closing Bell: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 ended their two day gaining streak on Thursday amid profit booking in most sectors. The markets traded in a narrow range on day of weekly expiry. While Sensex closed at 60,858.43, down by 187.31 points or 0.31 per cent while the broader market Nifty50 settled at 18,092.35, down&nbsp;73 points or 0.40 per cent. Banking gauge Nifty Bank finished at 42,293.95, lower by&nbsp;164.05 points or 0.39 per cent.

In the 50-stock Nifty50, 15 stocks advanced, 34 declined and 1 remained unchanged. The top gainers were Coal India, UPL, ONGC, BPCL and Tata Steel while top losers were Adani Enterprises, Asian Paints, Tata Motors, IndusInd Bank and Adani Ports.&nbsp;

Out of 15 Nifty sectoral indices only two ended in the green - Nifty PSU Bank (+0.34 per cent) and Nifty Oil &amp; Gas (+0.58&nbsp;per cent) while the worst performers were Nifty Media, Nifty Private Bank and Nifty metal. Index heavyweights like Kotak Mahindra, Infosys, Asian Paints and Hindustan Unilever accounted for the correction.&nbsp;

[[{"fid":"222376","view_mode":"default","type":"media","link_text":null,"attributes":{"height":433,"width":586,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"222377","view_mode":"default","type":"media","link_text":null,"attributes":{"height":432,"width":581,"class":"media-element file-default"}}]]Source:NSE

India VIX, a measure of volatility in Nifty was down 2.64 per cent at 13.99.

Selling pressure prevailed in broader markets as well. Nifty Mid Cap 100 ended at 31,344.60, down 34.70 points or 0.11 per cent. In the 100-share index, 44 advanced, 53 declined awile 3 remained unchanged. The top gainers were Persistent Systems, Polycab and Hindustan ZInc while the top losers were Torrent Power, Aditya Birla Faishon &amp; Retail and Trent. Meanwhile, Nifty Small Cap 100 ended closed&nbsp;47.25 points or 0.49 per cent lower at Rs&nbsp;9,623.60. Only 26 stocks finshed with gains today with top gainers being KEI Industries, Zensar Technologies and DCM Shriramas.

The rupee settled 7 paise lower at 81.37 (provisional) against the US dollar on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 81.45 against the greenback, and finally settled at 81.37, down 7 paise over its previous close. During the session, the rupee also touched an intraday high of 81.27 against the American currency. In the previous session on Wednesday, the rupee had settled at 81.30 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.21 per cent lower at 102.14.

Global oil benchmark Brent crude futures declined 0.94 per cent to USD 84.18 per barrel.

&nbsp;"Rupee has been in a small range of 81.23 to 81.40 in today's session as RBI bot dollars to ensure that the appreciation&nbsp; is not quick. However&nbsp; sellers of $ seem to be in abundance/ volumes are low for any volatile movement," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury&nbsp; Advisors&nbsp; LLP said.&nbsp;

Brent oil was at 84.07 while $ index at 102.20 while Asian currencies were stable since morning.&nbsp; Generally stock markets have been lower and so we're our Indices down by 0.30%.&nbsp;

The premiums on $rupee have gone upto 2.37 per cent as India 10-year yield was also upto 7.33 per cent, Bhansali said. Meanwhile USD should move in a range&nbsp; of 80.80 to 82.00 on Friday, the analyst opined.

On the commodity fron, gold and silver futures were trading positive at the time of filing the story. MCX February Gold futures were trading at Rs&nbsp;56,310 per 10 gram, upby Rs 24 or 0.04 per cent from the Wednesday closing price while March Silver futures were trading at&nbsp;67,882 per kg down by 345 or 0.51 per cent.

Gold futures have gained over 2.5 per cent or Rs 1,397 on the year-to-date basis, commodity and currency expert Anuj Gupta said. He suggests a buy on February Gold futures at Rs 56,100. He puts stop loss at Rs 55,800 while price target at Rs 56,600. Meanwhile Silver futures have declined by over 2 per cent or Rs 1,404 during this period, Gupta said. He recommends a buy at Rs 67,400 with a stop loss of Rs 66,700 and target of Rs 68,500.

(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.)

While Sensex closed at 60,858.43, down by 187.31 points or 0.31 per cent while the broader market Nifty50 settled at 18,092.35, down&nbsp;73 points or 0.40 per cent. Banking gauge Nifty Bank finished at 42,293.95, lower by&nbsp;164.05 points or 0.39 per cent


Sensex, Nifty end two-day gaining streak amid profit booking on weekly expiry day

Stock Market on Thursday, 19 January 2023: Indian markets will resume trading on Thursday amid a host of local and global factors. Tomorrow is also a day of weekly expiry which is likely to play on the minds of investors and traders when they decide to make a move. &nbsp;&nbsp;

Indian frontline indices <a href="http://zeebiz.com/market-news/news-closing-bell-sensex-smashes-triple-ton-riding-on-gains-in-hdfc-twins-century-for-nifty-217828">S&amp;P BSE Sensex and NSE Nifty50</a> ended near day's highs on Wednesday while recording their second consecutive gains this week. While Sensex closed at 61,045.74, up by 390 points or 0.64 per cent, the broader market Nifty50 settled at 18,163.80, up by 110.50 points or 0.61 per cent. Banking gauge Nifty Bank finished 232 points or 0.55 per cent higher at 42,467.70.

In the 50-stock&nbsp;Nifty50, market breadth was skewed in favour of gainers with 36 gains. The top gainers were Hindalco Industries, Tata Steel, Larsen &amp; Toubro, HDFC Bank and UPL while top losers were Adani Enterprises, Tata Motors, HDFC Life, Ultratech Cement Company and Indusind Bank.

We have collated a list of factors that could impact movement:

1) US Markets: US markets were trading in the green on Wednesday.&nbsp;Dow 30 was trading at 33,944.90, up 34.01 points or 0.10 per cent while&nbsp;S&amp;P 500 was up over 20 points or 0.53 per cent at 4,012.03. Nasdaq Composite was trading at 11,219.20, up&nbsp;124.12 points or 1.12 per cent.

[[{"fid":"222217","view_mode":"default","type":"media","link_text":null,"attributes":{"height":289,"width":321,"class":"media-element file-default"}}]]&nbsp;Source: NSE

Singapore-based SGX Nifty futures, an early indicator of movement in Nifty50 were trading at 18,253, up 31 points or 0.17 per cent at the time of filing this story. Dow Futures were trading at 33,951.80, up 40.90 points or 0.12 per cent.

2) Rupee Vs Dollar: The rupee pared its initial losses and settled 44 paise higher at 81.25 (provisional) against the US dollar on Wednesday, tracking a weak greenback overseas and a firm trend in domestic equities. However, rising crude oil prices capped the gains in the rupee, traders said. At the interbank foreign exchange market, the local unit opened weak at 81.80, but pared the losses and settled for the day at 81.25 (provisional), registering a rise of 44 paise over its previous close. The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.45 per cent to 101.93.

On Tuesday, the rupee had closed at 81.69 against the US dollar.

"We expect the USD-INR (Spot) to trade sideways and quote in the range of 81.20 and 81.70," Gaurang Somaiya, Forex &amp; Bullion Analyst at Motilal Oswal Financial Services said. Volatility in rupee remained elevated after the Bank of Japan (BoJ) held rates unchanged, he said.&nbsp; PTI

3) Q3FY23 Results: Many listed companies announced October-December quarter results on Wednesday. Among them were <a href="https://www.zeebiz.com/market-news/news-indusind-bank-q3-results-profit-nii-nim-npa-asset-quality-share-price-deposit-loan-growth-217836">Indusind Bank</a>, <a href="http://zeebiz.com/market-news/news-q3-results-2023-surya-roshni-rallis-india-cbi-announce-december-quarter-results-highlights-217885">Central Bank of India and Rallis India</a>. Several companies will be announcing their quarterly earnings on Thursday. In the Nifty50 pack, Asian Paints and Hindustan Unilever will declare results. Others include Can Fin Homes, AU Small Finance Bank, Havells, Hindus Zinc, PVR, Polycab and others. One can expect stock specific action in these stocks.

4) Stocks in News: <a href="http://zeebiz.com/companies-news/news-vedanta-to-acquire-meenakshi-energy-for-rs-1440-crore-through-insolvency-217887">Vedanta</a>’s board has approved acquisition of Meenakshi Energy while Kotak Mahindra Bank’s board will meet on 21 January to consider raising of funds.

5) Stocks in Ban: Securities in Ban for trade on 19 January, 2023 are Delta Corp, GNFC, L&amp;T Finance Holdings, Mannapuram.

6) FII / DII Action: Foreign institutional investors sold Indian equities worth Rs 319 crore while domestic institutional investors were net buyers at Rs 1,225 crore.

7) Bulk Deals: Two and half dozen companies witnessed bulk deal action today. Some of the companies which saw bulk deal transactions include Sula Vineyards, Atul Auto, Kshitij Polyline, Hindustan Constructions, Rama Steel and others.

8) Anil Singhvi Strategy on Nifty, Bank Nifty: Considering a two-day rally, Nifty50 will find support at 18,000-18,050 while resistance is seen at 18,200-18,275. Buying opportunities will open at levels around 18,300. As for Bank Nifty, support is seen at 42,075-42,200 while resistance at 42,625-42,725.

<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/AnchorDeepak_?ref_src=twsrc%5Etfw">@AnchorDeepak_</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/1YAeKmp1cK">https://t.co/1YAeKmp1cK</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1615709689886695429?ref_src=twsrc%5Etfw">January 18, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

9) Commodity Markets:&nbsp;MCX February Gold futures were trading at Rs 5,6369 per 10 gram around this time, up by Rs 17 or 0.03 per cent from the Tuesday closing price. March Silver futures were trading at Rs 69,210, up by Rs 24 or 0.03 per cent. While Dollar Index is hovering around 101 and has fallen from its peak of 115 against a basket of six major currencies, its movement will impact movement in commodities.

[[{"fid":"222223","view_mode":"default","type":"media","link_text":null,"attributes":{"height":492,"width":871,"class":"media-element file-default"}}]]Source: NSE

10) Crude Oil: Global oil benchmark Brent crude futures rose 1.38 per cent to USD 87.11 per barrel.

Expert Take:

“The benchmark indices continued positive momentum second day in a row, the nifty ends 112 points higher while the Sensex was up by 390 points. Among Sectors, Metal index bounce back sharply, rallied over 1.75 percent whereas despite strong momentum profit booking continued in PSU Bank index," Shrikant Chouhan, Head of Equity Research (Retail) at&nbsp;Kotak Securities said.

"Technically, market continued positive momentum and after a long time&nbsp; the index succeeds to close above 20 day SMA (Simple Moving Average) which is broadly positive. However, 18250/61300 could act as profit booking zone for the trend following traders. we are of the view that, as long as the index is trading above 18050/60700 or 20 day SMA.&nbsp; The texture of the chart suggest&nbsp; positive sentiment is likely to continue in the near future. Above 18050/60700 , the index&nbsp; could move up to 18250/61300 further upside may also continue which could lift the market till 18300/61500 or 50 day SMA. ON the flip side, below 18050/60700 uptrends would be vulnerable,” Chauhan said.

(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.)

Singapore-based SGX Nifty futures, an early indicator of movement in Nifty50 were trading at 18,253, up 31 points or 0.17 per cent at the time of filing this story. Dow Futures were trading at 33,951.80, up 40.90 points or 0.12 per cent


Stock Market on Thursday, 19 January 2023: 10 factors that could impact movement in Sensex, Nifty

Government could announce Production Linked Schemes (PLI) in six more sectors in the forthcoming Union Budget 2023 while making additional allocation, Zee Business has learnt through its sources. The government thrust remains on building India’s manufacturing sector and making it an export hub. Ambarish Pandey reports.

The government is also expected to make provisions for additional allocation of up to 20-25 per cent. He said that government has identified sectors where it wants to increase production and is now focusing on it.

There are at least 6 sectors in which announcements could be made. These sectors likely are speciality steel, speciality chemicals, IT hardware, fertilizers, aviation and technical textile and others.

The government intends to focus on goods on which country’s reliance on imports is high. The government is also focusing on manufacturing those goods in the country whose demand in overseas markets is high.

The government could bring a PLI scheme for manufacturing on niche batteries. Zee Business had recently informed about this development. The plan is to bring a separate PLI scheme for this. The government wants the industry to make batteries from metals other than nickel, cobalt and lithium. It has urged the industry to manufacture batteries with new metals and technologies so that country’s imports of these metals remain low.

This is expected to not only help India become an export hub but will also create jobs.

Watch Full Story Here

<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/Budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2023</a> में वित्त मंत्री <a href="https://twitter.com/hashtag/PLIScheme?src=hash&amp;ref_src=twsrc%5Etfw">#PLIScheme</a> का दायरा बढ़ाने का कर सकती हैं ऐलान। 
 
PLI स्कीम के लिए 20-25% अतिरिक्त आवंटन संभव 
 
जानिए खबर पर पूरी जानकारी अंबरीष पांडे से.... 
 
<a href="https://twitter.com/pandeyambarish?ref_src=twsrc%5Etfw">@pandeyambarish</a>|<a href="https://twitter.com/hashtag/BudgetonZee?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetonZee</a>|<a href="https://twitter.com/hashtag/Budget?src=hash&amp;ref_src=twsrc%5Etfw">#Budget</a> <a href="https://twitter.com/hashtag/NirmalaSitharaman?src=hash&amp;ref_src=twsrc%5Etfw">#NirmalaSitharaman</a> 
 
<a href="https://t.co/LsM827pwsp">https://t.co/LsM827pwsp</a> <a href="https://t.co/Qnm2bEag6F">pic.twitter.com/Qnm2bEag6F</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1615672404503834630?ref_src=twsrc%5Etfw">January 18, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

In another major development, the government could extend timeline of 15 per cent corporate tax levy beyond 31 March 2024 in the upcoming Budget 2023, Zee Business’ Tarun Sharma reports citing his top sources. The tenure could be extended by one more year. In 2019 budget, the government had introduced a new scheme under which manufacturing companies who get registered on 1 October or later will get benefit of a lower corporate tax of 15 per cent.

This was in view of promoting the local manufacturing industry and the original deadline was to expire on 31 March 2023. However,&nbsp;Finance Minister Nirmala Sitharaman extended it by one year.

<a href="http://zeebiz.com/companies/news-budget-2023-expectations-government-may-extend-15-corporate-tax-deadline-beyond-31-march-2024-217817">Read More: Budget 2023 Expectations: Government may extend 15% corporate tax deadline beyond 31 March 2024</a>

Government could announce Production Linked Schemes (PLI) in six more sectors in the forthcoming Union Budget 2023 while making additional allocation, Zee Business has learnt through its sources


Budget 2023 EXCLUSIVE: Govt may announce PLI schemes for 6 new sectors

Closing Bell: Indian frontline indices ended near day's highs while recording their second consecutive gains this week. While Sensex closed at 61,045.74, up by 390 points or 0.64 per cent, the broader market Nifty50 settled at 18,163.80, up by 110.50 points or 0.61 per cent. Banking gauge Nifty Bank finished 232 points or 0.55 per cent higher at 42,467.70.

In the 50-stock <a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-india-stock-market-live-updates-anil-singhvi-market-view-indusind-bank-icici-pru-results-itc-persistent-217722">Nifty50</a>, market breadth was skewed in favour of gainers with 36 gains. The top gainers were Hindalco Industries, Tata Steel, Larsen &amp; Toubro, HDFC Bank and UPL while top losers were Adani Enterprises, Tata Motors, HDFC Life, Ultratech Cement Company and Indusind Bank.

[[{"fid":"222113","view_mode":"default","type":"media","link_text":null,"attributes":{"height":415,"width":569,"class":"media-element file-default"}}]]

Metal sector was a clear winner today with buying activity visible in other sectors as well. Infty Metal was the top performing sector out of 15 Nifty sectoral indices and gained 1.65 per cent. The other top performers were Nifty Financial Services and Nifty Pharma. The laggrds were Nifty PSU Bank (-1.25 per cent), Nifty Auto and Nifty Oil &amp; Gas.&nbsp;

India VIX, a measure of volatility in Nifty was down 1.5 per cent at 14.37.&nbsp;&nbsp;

Rupee gains 44 paise to close at 81.25 (provisional) against US dollar as Dollar Index slipped to levels around 101 against the basket of six major currencies.

Stock specific action was seen in broader markets and&nbsp;Nifty Mid Cap 100 and Nifty Small Cap index ending positive. Out of 100 stocks in Nifty Mid Cap 100, 63 stocks advanced with Tata Teleservices (Maharashtra), Hindustan Zinc and SAIL closing as&nbsp;top gainers while Bank of India, Delhivery and Indian Bank as top losers.&nbsp;

In the Nifty Small Cap 100 space, 48 stocks advanced, 51 declines and 1 remained unchanged. The top gainers were Polyplex, NLC India and Just Dial&nbsp; while top losers were Delta Corp, Quess Corp and Radico Khaitan.&nbsp;&nbsp;

“The benchmark indices continued positive momentum second day in a row, the nifty ends 112 points higher while the Sensex was up by 390 points. Among Sectors, Metal index bounce back sharply, rallied over 1.75 percent whereas despite strong momentum profit booking continued in PSU Bank index," Shrikant Chouhan, Head of Equity Research (Retail) at&nbsp;Kotak Securities said.

"Technically, market continued positive momentum and after a long time&nbsp; the index succeeds to close above 20 day SMA (Simple Moving Average) which is broadly positive. However, 18250/61300 could act as profit booking zone for the trend following traders. we are of the view that, as long as the index is trading above 18050/60700 or 20 day SMA.&nbsp; The texture of the chart suggest&nbsp; positive sentiment is likely to continue in the near future. Above 18050/60700 , the index&nbsp; could move up to 18250/61300 further upside may also continue which could lift the market till 18300/61500 or 50 day SMA. ON the flip side, below 18050/60700 uptrends would be vulnerable,” Chauhan said.

(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.)

Closing Bell:&nbsp;Indian frontline indices ended near day's highs while recording their second consecutive gains this week. While Sensex closed at&nbsp;61,045.74, up by 390 points or 0.64 per cent, the broader market Nifty50 settled at&nbsp;18,163.80, up by 110.50 points or 0.61 per cent


Closing Bell: Sensex smashes triple ton riding on gains in HDFC twins; Century for Nifty

Stock Market on Wednesday, 18 January 2023: Indian stock markets will resume trading on Wednesday amid a host of local and global factors. On Tuesday, frontline indices <a href="http://zeebiz.com/market-news/news-sensex-nifty-stock-market-today-nykaa-hcl-sbi-hdfc-bank-bank-nifty-share-market-closing-bell-217644">S&amp;P BSE Sensex and Nifty50</a> ended in the green. While Sensex ended at 60,655.72, up 562.75 points or 0.94 per cent the broader market Nifty50 settled at 18,053.30, up 158.45 points or 0.89 per cent. <a href="https://www.zeebiz.com/union-budget/news-ahead-of-budget-finance-ministry-convenes-meeting-with-public-sector-banks-on-january-19-217649">Banking</a> gauge Nifty Bank 42,235.05 finished at 67.50 points or 0.16 points.

We have collated 10 factors that are likely to impact movement tomorrow:

1) US Markets: Frontline indices on Wall Street opened mixed on Tuesday after a three-day gap. While Dow 30 retreated at the time of filing of the story and trading at 34,157.80, down 144.83points or 0.42 per cent, S&amp;P 500, was up 13 points or 0.34 per cent at 4,012.57. Nasdaq Composite was trading at 11,133.60, up 54.46 points or 0.49 per cent around this time. Dow futures were trading at 34,148.50, lower by 154.10 points or 0.45 per cent. Investors must watch out for movement in SGX Nifty futures on Wednesday. The Singapore-listed index is an early indicator of movement in Nifty50.

[[{"fid":"221964","view_mode":"default","type":"media","link_text":null,"attributes":{"height":292,"width":321,"class":"media-element file-default"}}]]&nbsp;Source: Comex

2) Rupee Vs Dollar: The rupee settled 19 paise lower at 81.77 (provisional) against the US dollar on Tuesday, tracking a rebound in the greenback overseas and firm crude oil prices. Forex traders said sustained foreign fund outflows further weighed on investor sentiment. At the interbank foreign exchange market, the rupee opened at 81.79 against the greenback, then lost ground and fell to an intra-day low of 81.89. The domestic currency finally settled at 81.77, down 19 paise over its previous close. In the previous session on Monday, the rupee had settled at 81.58 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 102.40. PTI

3) Q3 Results 2023: Many listed companies will be announcing their quarterly earnings on Wednesday. Among them will be mid-tier private lender <a href="https://www.zeebiz.com/companies/news-indusind-bank-q3-results-preview-profit-nii-net-interest-margins-asset-quality-gross-net-npa-indusind-bank-share-price-nse-bse-217696">IndusInd Bank</a>, Rallis India, Persistent Systems, Central Bank of India and others. A few companies announced their earnings on Tuesday. Among them were Bank of India, Angel One, Tata Metaliks, Newgen Software and others. Expect stock specific action in these companies tomorrow.

4) Stocks in Ban: Securities in Ban for trade on 18 January, 2023 were Delta Corp, GNFC, Indiabulls Housing Finance, L&amp;T Finance Holdings and Mannapuram.

5) FII / DII Action: Foreign institutional investors were net buyers of Indian equities worth Rs 211 crore while domestic institutional investors bought shares worth Rs 90 crore.

6) Anil Singhvi Strategy on Nifty, Bank Nifty: The Managing Editor said that FII action on Wednesday will be keenly watched as it will tell if today’s gains were because of buying from foreign investors or were on account of short covering. He said support in Nifty50 is at 17,775-17,850 while resistance is at 18,100-18,250. As for Bank Nifty, support is seen at 41,725-41,875 while resistance is seen at 42,500-42,700.

<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/AnchorDeepak_?ref_src=twsrc%5Etfw">@AnchorDeepak_</a> | <a href="https://twitter.com/AnilSinghvi_?ref_src=twsrc%5Etfw">@AnilSinghvi_</a> <a href="https://t.co/NmH73Xkh1w">https://t.co/NmH73Xkh1w</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1615347423886606336?ref_src=twsrc%5Etfw">January 17, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

7) Bulk Deals: Over two dozen companies witnessed bulk deal actions today. Among them were Sula Vineyards, Orient Press, Speciality Restaurants, Tracxn Technologies.

8) MCX February Gold futures were trading at Rs 56405 per 10 gram, down by Rs 77 or 0.14 per cent while March Silver futures were trading at Rs 69,278 per kg, down by Rs 508 or 0.73 per cent.

[[{"fid":"221967","view_mode":"default","type":"media","link_text":null,"attributes":{"height":510,"width":875,"class":"media-element file-default"}}]]&nbsp;Source: MCX

9) Stocks to Buy: Budget 2023 Stocks which will earn investors windfall gains.

<blockquote class="twitter-tweet">
Budget Stocks: अगले 1 साल में कराएंगे दमदार कमाई! देखें टारगेट<a href="https://twitter.com/hashtag/BUDGET?src=hash&amp;ref_src=twsrc%5Etfw">#BUDGET</a> <a href="https://twitter.com/hashtag/budget2023?src=hash&amp;ref_src=twsrc%5Etfw">#budget2023</a> <a href="https://twitter.com/hashtag/stocks?src=hash&amp;ref_src=twsrc%5Etfw">#stocks</a> <a href="https://twitter.com/hashtag/Economy?src=hash&amp;ref_src=twsrc%5Etfw">#Economy</a> <a href="https://twitter.com/hashtag/sharemarket?src=hash&amp;ref_src=twsrc%5Etfw">#sharemarket</a> <a href="https://twitter.com/hashtag/stockmarket?src=hash&amp;ref_src=twsrc%5Etfw">#stockmarket</a> <a href="https://twitter.com/hashtag/india?src=hash&amp;ref_src=twsrc%5Etfw">#india</a> <a href="https://twitter.com/AamiTanuja?ref_src=twsrc%5Etfw">@aamitanuja</a> <a href="https://t.co/IAmwqqb2zh">pic.twitter.com/IAmwqqb2zh</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1615348220703408128?ref_src=twsrc%5Etfw">January 17, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

10) Global oil benchmark Brent crude futures advanced 0.46 per cent to USD 84.85 per barrel.

Experts' Views: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

"The Nifty witnessed a late surge which helped it to close with gains of 158 points. More importantly it has managed to close above the 20 day moving average (18035) which is a sign of strength. The daily and hourly momentum indicator has a positive crossover which is a buy signal. Thus, all parameters are suggesting towards a sharp up move over the next few trading sessions. In terms of levels 17880 – 17850 shall act as a crucial support zone while 18280 – 18300 shall act as an immediate hurdle zone for the Nifty." --&nbsp;Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

"Another volatile trading session ends on a positive note. There are some signs that bulls are getting a grip on the market. Nifty has been making higher highs and higher lows for the last four trading sessions, and today it managed to close above the 20-DMA. However, we need a follow through tomorrow, and if Nifty manages to trade above 18088, then we can expect a move towards the 18250–18300 zone. On the downside, 17950 will act as an immediate support level, while 17800 is a sacrosanct support level on a closing basis.&nbsp;

Banknifty is also consolidating in a band of 42700-41700, and any decisive move from this band will dictate further direction. However, if it slips below the 41700 level, the 100-DMA of 41370 will be the immediate support level. If it crosses the 42700 level, then a short covering move towards 43400 is expected.&nbsp;

Global cues are also muted for the last few days, but the FIIs' flow will be critical because they have been selling aggressively in the Indian market since the start of 2023. We can expect sector- and stock-specific moves amid the Q3 earnings season and pre budget expectations." -- Santosh Meena, Head of Research, Swastika Investmart Ltd.

(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.)

Anil Singhvi Strategy on Nifty, Bank Nifty:&nbsp;The Managing Editor said that FII action on Wednesday will be keenly watched as it will tell if today’s gains were because of buying from foreign investors or were on account of short covering. He said support in Nifty50 is at 17,775-17,850 while resistance is at 18,100-18,250


Stock Market on Wednesday, 18 January 2023: 10 triggers that could impact movement in Sensex, Nifty

Closing Bell: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 ended positive on Tuesday aided by strong momentum in the FMCG stocks. While Sensex settled at 60,655.72, up 560 points or 0.94 per cent, the broader market Nifty50 closed at 18,053.30, up 161 points or 0.9 per cent. Baking gauge Nifty Bank finished at&nbsp;42,272.65, up 105.10 points or 0.25 per cent.

In the 50-stock index 38 advanced at the close with Larsen &amp; Toubro, Hindustan Unilever, HDFC Bank, HDFC and HCL Technologies while the top losers were SBI, Bajaj FInserv, Indusind Bank, Wipro and Tata Steel. L&amp;T hit its lifetime high today.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

[[{"fid":"221865","view_mode":"default","type":"media","link_text":null,"attributes":{"height":389,"width":593,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"221866","view_mode":"default","type":"media","link_text":null,"attributes":{"height":432,"width":589,"class":"media-element file-default"}}]]

Among the newage companies Nykaa was in the news for all the wrong reasons. The stock today fell over 5 per cent on the NSE to end at levels around Rs 132.90 or Rs 7.35 lower than the Monday closing price.&nbsp;&nbsp;

There was selling pressure seen in broader markets as well with stock specific action in Nifty Mid Cap 100 and Nifty Small Cap 100 indices.&nbsp;&nbsp;&nbsp;

In the 50-stock index 38 advanced at the close with Larsen &amp; Toubro, Hindustan Unilever, HDFC Bank, HDFC and HCL Technologies while the top losers were SBI, Bajaj FInserv, Indusind Bank, Wipro and Tata Steel. L&amp;T hit its lifetime high today


Closing Bell: Sensex jumps 560 points; rally in FMCG stocks pushes Nifty to ends with 160 points gains

Stock Market Outlook: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 will resume trading on Tuesday amid a host of local and global factors. Zee Business Web collates 5 such factors that could determine movement when markets reopen tomorrow. &nbsp;

On Monday <a href="https://www.zeebiz.com/market-news/live-updates-sensex-nifty-stock-market-india-live-updates-jan-16-hdfc-bank-wipro-dmart-results-share-price-217366">Sensex and Nifty50</a> retreated as selling pressure weighed. While the former closed at&nbsp;60,092.97, down 168.21 points or 0.28 per cent, the broader market Nifty50 finished at 17,894.85, down 61.75 points or 0.34 per cent. The banking gauge settled at 42,134.85, lower by&nbsp;236.40 points or&nbsp;0.56 per cent from the Friday closing price.

5 triggers that could impact markets:&nbsp;

1) Global Markets:&nbsp;US&nbsp;markets are shut on Monday on account of Martin Luther King Jr's&nbsp;Day on January 16. They will reopen on Tuesday. On Friday, Dow 30 closed at 34,302.60, up 112.64 points or 0.33 per cent while&nbsp;S&amp;P 500 ended at 3,999.09, down 15.92 points or 0.40 per cent.&nbsp;Nasdaq Composite settled at 11,079.20, up 78.05 points or0.71 per cent. Indian markets are expected to take cuses from Singpore-listed SGX Nifty, an early inicator of movement in Nifty50. It was trading flat at 17,956 albeit&nbsp;with a positive bias at the time of filing the story.&nbsp;

2) Rupee Vs Dollar:&nbsp;The rupee pared initial gains and settled 21 paise lower at 81.59 against the US dollar on Monday, tracking a rebound in the greenback overseas and a muted trend in domestic equities, PTI reported. Forex traders said risk aversion in international markets and sustained foreign fund outflows weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened on a positive note at 81.29 against the greenback, but pared the gains and fell to an intra-day low of 81.73. The domestic currency finally settled at 81.59, down 21 paise over its previous close.

"As the dollar index recovered from 101.76 to 102.52, USD CNH&nbsp; from a low of 6.69 to 6.74, it was evident that market was buying dollars after a sell off from 104 levels," Anil Kumar Bhansali, Head of Treasury&nbsp; 
at Finrex Treasury Advisors LLP said.&nbsp;RBI stood between Rupee appreciation and did not allow it to rise beyond 81.23 after which oil companies came in to buy dollars and ensured Rupee weakened to 81.73 levels, he said. &nbsp;The rupee is expected&nbsp; to be in a range of 81.40 to 82.20&nbsp; tomorrow, he further said.

3) Q2FY23 Results: Plenty of companies will be announcing their quarterly earnings on Tuesday. In the F&amp;O segment,&nbsp;CICI Lombard General Insurance (post-market), ICICI Prudential Life Insurance (post-market), Delta Corp (post-market), National Aluminium Company (post-market) will declare results.&nbsp;National Aluminium Company board to consider interim dividend and financial results.&nbsp;&nbsp;

A few companies also announced their quarterly earnings on Monday including Angel One, JSW Ispat and Tinplate Company of India among other. Expect specific action in these companies.

4) Trading Strategy: "The Nifty has been witnessing short term consolidation for the last few weeks. In terms of the price patterns, it has formed a triangle on the daily chart. Towards the end of the last week, the Nifty had formed a base near the lower end of the pattern. Consequently, the index took a leap on the upside &amp; opened gap up on January 16," Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said.&nbsp;

"However, the index stumbled near the upper end of the pattern &amp; stayed back into the pattern. Till the time the index trades above 17800 on a closing basis, the pattern is eventually expected to break out on the upside. The Nifty will be set for a larger bounce, once it crosses the near term barrier of 18050," Ratnaparkhi said.

Meanwhile, Rohan Patil, Technical Analyst, SAMCO Securities said that undecisive Nifty continues to trade in no trading zone. "Nifty-50 once again could not capitalised on its opening gains and continued to trade in a lower low lower high formation on the lower time frame," Patil said.

"Prices are trading below its 9 &amp; 21 EMA and the momentum oscillator RSI (14) is reading in a range between 50–35 levels. All these indicates that slow and steadily bears are tightening their grip on the market with increasing strength. The Triangle pattern on charts suggests Nifty is stuck in a No – Trading zone, unless it breaks above 18,150 or below 17,775 levels," he further said.

5) FII / DII action: Foreign Institutional Investors were net sellers on Monday and old Indian equities worth Rs&nbsp;750.59 while domestic institutional investors were net buyers at Rs&nbsp;685.96 crore.

On Monday&nbsp;Sensex and Nifty50&nbsp;retreated as selling pressure weighed. While the former closed at&nbsp;60,092.97, down 168.21 points or 0.28 per cent, the broader market Nifty50 finished at 17,894.85, down 61.75 points or 0.34 per cent. The banking gauge settled at 42,134.85, lower by&nbsp;236.40 points or&nbsp;0.56 per cent from the Friday closing price


Stock Market Outlook: 5 triggers that could impact Sensex, Nifty when trading resumes on Tuesday

Closing Bell: Indian frontline indices S&amp;P BSE Sensex and NSE Nifty50 ended the week on a high note, breaking away their three-day losing streak. While Sensex ended at 60,261.18, up by 303 points or 0.51 per cent, the broader market Nifty50 settled at&nbsp;17,956.60, up by 98.40 points or 0.55 per cent. Banking gauge Nifty Bank finished at&nbsp;42,371.25, up&nbsp;289 points or 0.69 per cent.&nbsp;&nbsp;

In the 50-stock Nifty50, 37 stocks advanced&nbsp;with Adani Enterprises, IndusInd Bank, Tata Steel, Eicher Motors and <a href="https://www.zeebiz.com/market-news/news-infosys-q3-results-beat-estimates-brokerages-see-up-to-rs-600-gain-per-share-nse-share-market-stock-market-today-217141">Infosys</a> ending up as&nbsp;top gainers while Titan Company, SBI Life, Apollo Hospitals, Nestle India and Larsen &amp; Toubro closing the session as top losers.&nbsp;

[[{"fid":"221325","view_mode":"default","type":"media","link_text":null,"attributes":{"height":436,"width":591,"class":"media-element file-default"}}]]Source: NSE

[[{"fid":"221327","view_mode":"default","type":"media","link_text":null,"attributes":{"height":397,"width":582,"class":"media-element file-default"}}]]Source: NSE

Out of 15 Nifty sectoral indices, 11 closed in the green with banks and financial services stocks, metals and IT stocks witnessing a buying action. The top performing Index was NIfty PSU Bank (+1.35 per cent), Nifty Metal (+1.27 per cent) and Nifty IT (+0.74 per cent). The worst performers was Nifty Consumer Durables (-1.03 per cent). Minor losses were seen in Nifty Pharma and Nifty FMCG sectors.

Rupee falls 4 paise to close at 81.34 (provisional) against US dollar.

“Market session was once again marked with volatility as indices gyrated sharply intra-day before managing to end in positive territory. Reports of cooling inflation and rise in November growth failed to enthuse investors, as higher valuations remain a major concern. Despite improved domestic economic readings, FPI outflows have continued, which has been a major dampener for local traders," Amol Athawale, Deputy Vice President - Technical Research at Kotak Securities said.

"Technically, on weekly charts the Nifty has formed a long legged Doji candlestick formation. For the next few trading sessions, the 100 day SMA (Simple Moving Average) or 17900 would act as sacrosanct support levels. A pullback formation above the same could drive the index to 20 day SMA or 18075. Further upside may also continue which could lift the index till 18200. On the other hand, a fresh round of selling is possible only after the dismissal of&nbsp;17800 and below the same, the index could slip till 17650-17600,” he added.

Meanwhie, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said that&nbsp;in the week gone by, Nifty50 witnessed sharp swings in both the directions and ultimately posted a positive weekly close. "It has formed a Doji pattern on the weekly chart. For the last few weeks, the index is trading above the 20 WMA, which has resulted in a Triangle pattern formation on the daily chart. After a recent base formation near the lower end of the pattern, the Nifty witnessed smart recovery on January 13. Going ahead, 18000-18050 will be the key area beyond which the index will be set for a larger up move. On the downside, 17800 will continue to provide cushion for the index," he further said.&nbsp;

Meanwhile, Gold Futures hit their lifetime high of Rs 56,245 today breaking a previous high of Rs 56,191 it hit in September 2023. Analyst Anuj Gupta is bullish on yellow metal futures and recommends a buy on February futures at Rs 56,000 per 10 gram. He puts the stop loss at Rs 55,750 with a price target of Rs 56,500.

Gupta is Vice President (VP), Commodity and Currency Research at IIFL Securities.

&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, 37 stocks advanced&nbsp;with Adani Enterprises, IndusInd Bank, Tata Steel, Eicher Motors&nbsp;and&nbsp;Infosys&nbsp;ending up as&nbsp;top gainers while Titan Company, SBI Life, Apollo Hospitals, Nestle India and Larsen &amp; Toubro closing the session as top losers


Closing Bell: Triple ton for Sensex, Nifty shy of century as frontline indices end 3-day losing streak

<a href="https://www.nseindia.com/get-quotes/equity?symbol=PAYTM">Paytm share price</a> gained nearly 2 per cent or by Rs 10 on the NSE to quote at Rs 553.50 after Morgan Stanley Asia and Ghisallo Master Fund bought 54,95,000 and 49,80,000 shares, respectively, in bulk deals at Rs 534.80 per share.&nbsp;

Paytm will be a key beneficiary of India's Unified Payments Interface (UPI) incentive scheme, Morgan Stanley said on Thursday. The Union Cabinet on Wednesday approved the incentive scheme of Rs 26 billion for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for FY23, compared with Rs 15 billion in FY22.&nbsp;

Technically chart does not show an appreciable improvement, market expert Kunal Saraogi said. Though there is a pullback from lower levels the structure remains extremely weak, he opined. He said that selling pressure will be seen at all levels in this stock. It is highly unlikely that there will be a big runaway rally in this stock, Saraogi cautioned. investors.&nbsp;

Intraday Price Chart&nbsp;&nbsp;

[[{"fid":"221282","view_mode":"default","type":"media","link_text":null,"attributes":{"height":314,"width":882,"class":"media-element file-default"}}]]Source: NSE

Earlier,&nbsp;technical analyst Nilesh Jain while speaking to Zeebiz.com had said that investors wanting to <a href="https://www.zeebiz.com/market-news/news-paytm-share-price-down-70-from-ipo-price-buy-sell-or-hold-here-is-what-analysts-say-216954">buy&nbsp;Paytm</a>&nbsp;shares can do it only with a trading perspective. The chart structure is positive, he had said, adding that the counter can move upside of 14 per cent from the current market price of Rs 571.&nbsp;

Jain, who is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking had recommended&nbsp;Paytm&nbsp;for targets of Rs 600 and Rs 650 with a stop loss of Rs 540. Investors can look to buy it at current levels or on declines. &nbsp;&nbsp;

Paytm&nbsp;shares were also <a href="https://www.zeebiz.com/market-news/news-paytm-q3-update-share-price-nse-bse-q3fy23-third-quarter-results-announcement-date-time-ex-date-record-date-price-target-latest-update-216267">recommended</a> earlier by Analyst Simi Bhaumik for targets of Rs 590/600.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp;

Paytm&nbsp;share price has fallen by nearly 70 per cent from the issue price of Rs 2,150. At current levels, the 1-year returns given by this negative 47 per cent as against (-) 2.1 per cent returned by broader market Nifty50. The underperformance is over 47 per cent during this period.&nbsp;&nbsp;

[[{"fid":"221283","view_mode":"default","type":"media","link_text":null,"attributes":{"height":383,"width":685,"class":"media-element file-default"}}]]

Momentum indicator MFI is lingering around 50.4 according to data sourced from Trendlyne. Relative Strength Index or RSI, which is another momentum indicator is at 50.8. A number below 20 suggests that the stock is oversold while above 70 is considered overbought.&nbsp;&nbsp;

The volatility in this stock has been low over a 1-year period at 0.92 and below 1.&nbsp;&nbsp;

The fintech company recently informed stock exchanges about its Q3 performance update ahead of the October-December quarter results.&nbsp;Moreover,&nbsp;Surinder Chawla has been appointed as new Managing Director and CEO&nbsp;of&nbsp;Paytm&nbsp;Payments Bank.&nbsp;&nbsp;&nbsp;

The company disbursed 3.7 million loans worth Rs 3,665 crore (USD 443 million, y-o-y growth of 330 per cent) in December 2022, the exchange filing said. The number of loans disbursed during the month was up 117 per cent.&nbsp;&nbsp;&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;

Technically chart does not show an appreciable improvement, market expert Kunal Saraogi said. Though there is a pullback from lower levels the structure remains extremely weak, he opined


Technical Check: Paytm share price in weak territory; should you buy?

Infosys Limited’s better than estimated earnings for the third quarter cheered seven top brokerages while a couple took a contrarian view on the stock’s prospects. Macquarie&nbsp;is most bullish on Infosys, seeing Rs 600 per share gains. It has recommended the price target of Rs 2080 and maintains an ‘Outperform’ rating.&nbsp;&nbsp;&nbsp;

Infosys shares bounced back around 1:30 pm after falling in initial trade tracking movement in the frontline indices <a href="https://www.zeebiz.com/market-news/live-updates-stock-market-today-sensex-nifty-wipro-infosys-hcl-tech-cpi-inflation-dow-jones-nasdaq-nikkei-bank-of-japan-brent-crude-dollar-share-market-217084">S&amp;P BSE Sensex and NSE Nifty50</a>. They were up by Rs 35.40 or 2.39 per cent on the NSE at around 10 am and were trading at Rs 1,516.&nbsp;

On Thursday, Infosys reported a 5 per cent quarter-on-quarter jump in <a href="https://www.zeebiz.com/market-news/live-updates-infosys-hcl-tech-q3-results-live-profit-revenue-margin-attrition-guidance-dividend-216975">consolidated revenue</a> at Rs&nbsp;38,318 versus Rs 36,538 crore the company posted in the preceding quarter. Net Profit or Profit After Tax (PAT) was up 9.4 per cent for the reporting quarter at Rs 6,586 crore. It was marginally better than Zee Business’ estimates of Rs 6,580&nbsp;crore. &nbsp;

However, at 21.5&nbsp;per cent, the margins were lower than 21.6 per cent expected by the street. It was unchanged on sequential basis.&nbsp;&nbsp;&nbsp;&nbsp;

Company’s&nbsp;FY23 revenue growth guidance points to a stable near-term demand outlook, notwithstanding a minor upgrade, CLSA noted. The Bengaluru headquartered company has given revenue growth over all three quarters this fiscal year beating estimates is yet another positive for the company. Large deal wins draw a health outlook, the Hong Kong headquartered investment group said.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

What Other Brokerages Recommend&nbsp;

-- Jefferies maintains a buy on Infosys and has raised targets to Rs 1,770 from 1,760.&nbsp;&nbsp;

-- Morgan Stanley maintains ‘Overweight’ with a price target of Rs 1,670.&nbsp;Resilience in revenue growth and good momentum in new large deal win augurs well for Infosys, it noted.&nbsp;&nbsp;

-- Credit Suisse&nbsp;maintains ‘Outperform raises target raised to Rs 1,760 from 1,710.&nbsp;&nbsp;

-- HSBC maintains a&nbsp;buy and revises target upwards to Rs 1,800 from Rs 1,730.&nbsp;&nbsp;

-- Nomura maintains a buy with target of Rs 1,900.&nbsp;&nbsp;

Contrarian View

While Citi retains a buy on Infosys, it has cut targets for Rs 1,745 to Rs 1,665. It said that revenues reported this quarter have beaten estimates aided by third party items bought for service delivery (110 bps qoq). It saw this as a headwind to company’s margins while advocating a caution on fourth quarter guidance. &nbsp;

Meanwhile, JP Morgan maintains a ‘Neutral’ rating suggesting a price target of Rs 1,700. &nbsp;The brokerage firm noted acceleration in underlying growth slowdown. It further said that services growth has been impacted by furloughs and demand softness in select Industries. It foresees growth moderation over the rest of CY2023.

Morgan Stanley said that the company missed estimated margin targets and its recovery lagged peers.&nbsp;

Technical View:

Technical Analyst Nilesh Jain said that the short term view on this stock is not positive and an investor willing to&nbsp;put money can accumulate with a long term perspective. The immediate target on this stock is Rs 1,500, he added.

[[{"fid":"221275","view_mode":"default","type":"media","link_text":null,"attributes":{"height":291,"width":787,"class":"media-element file-default"}}]]Source: NSE&nbsp;&nbsp;

The stock has underperformed Nifty50 by over 18 per cent giving negative returns of nearly 20 per cent against (-) 2 per cent returned by the broader market index.&nbsp;&nbsp;

[[{"fid":"221276","view_mode":"default","type":"media","link_text":null,"attributes":{"height":388,"width":648,"class":"media-element file-default"}}]]Source:NSE

(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.)

Infosys shares fell today tracking overall weakness in the frontline indices S&amp;P BSE Sensex and NSE Nifty50. They were down by Rs 10 or 0.69 per cent on the NSE at around 10 am and were trading at Rs 1,470.40


Shivendra Kumar