Marginal Gains

At the close, the Nifty 50 was at 17,662.15 up by 0.07%

Today, NSE Nifty 50 started off the day on a high note. The index went higher than the previous closing, however, there was a slip in the afternoon session, however it closed in green and was up by 0.07 percent. The Nifty closed above at 17660, and ended the day with some gains. Investors sentiments were boosted by expectations of good corporate earnings in the coming days, and that helped the index close in the green.

Monday was a challenging day for stock traders in Europe and the US. Equities in Europe were trading in the red during mid-session deals as markets continued to react to recent economic developments, while markets in the US had ended Monday’s trading session firmly in negative territory. This comes as investors remain concerned about expectations of slowing global economic growth and ongoing trade tensions.

Buzzing

The Adani group stocks witnessed huge selling in the week gone by after Hindenburg Research released a report about the group. Investors across the country became wary about the Adani Group’s stocks and reacted by selling them off. However, on the final day of Adani Enterprises follow-on public offer, which included an investment of USD 400 million from Abu Dhabi’s International Holding Company, the stocks made a recovery. This is indicative of how the confidence of investors increases when major investment is made in a company. The Adani Group stocks have long held a significant presence in the market, and the latest development has only solidified their position.

Bank Nifty: Up by 0.66%

The Indian stock market witnessed a positive trend on Tuesday with both the Bank Nifty and BSE Sensex closing in the green. The Bank Nifty opened in green, dipped for a few hours but recovered by end to close 0.66 percent higher at 40,655.05. Similarly, the BSE Sensex gained 0.08 percent and closed at 59,549.90 points. This was attributed to a rise in buying of banking and financial stocks from investors amid strong global cues from other Asian markets as well as Wall Street’s record-breaking performance overnight due to higher hopes of additional stimulus package from US government.

Bank Nifty

On Tuesday, the Bank Nifty index closed with gains of 6.07%, 6.02%, and 3.48% for Bank of Baroda, PNB, and SBIN respectively. However, HDFC Bank and IndusInd Bank were the biggest losers on the index with losses of 0.52% and 0.51% respectively. This indicates that while a few banks are doing well in terms of stock performance, others are struggling to keep up pace with the other top gainers in the market. It is important to understand why this is happening so that investors can make informed decisions while investing in these stocks.

Indian stock markets had a positive start this week with the Nifty50 and Sensex both trading near their all-time high levels. Besides, sectors like the Nifty PSU Bank, and Nifty Media indices displayed strong performance, as they climbed up to 4 per cent. On the flipside, Nifty IT, Pharma and Oil & Gas indices were lackluster. Moreover, buying activity was witnessed across banking stocks on account of hopes of revival in economic activities in view of upcoming Union Budget 2023 due on Wednesday, February 1.

Brent crude futures, the global oil benchmark, declined 1,18 per cent to $83,90 per barrel on Monday due to a drop in international demand.

Advance Decline Ratio

Today, the stock market was positive as the advance-decline ratio was 3.05 and the market breadth also stayed in green. The most noteworthy part is that the volatility index India Vix decreased by 4.71 percent to settle at 16.88. The foreign institutional investors (FIIs) were net sellers today. This indicates that the Indian markets are in a healthy state and the investors are showing confidence in the Indian economy. The data is a positive sign for the Indian stock markets and the investors are hoping for a bullish run in the near future.

DAILY MARKET ACTION
Advancers – 1681
Decliners – 551
52Wk High –  27
52Wk Low – 87
High Band Hitters – 113
Low Band Hitters – 51
200d SMA – 17289
50d SMA – 18225
20d SMA – 17957

Top Gainers and Losers Stocks

The top gainers were SBIN (+3.48%), M&M (+3.41%), Power Grid (+2.90%), UltraTech Cement (+2.84%), and Adani Ports (+2.73%).

The top losers were Bajaj Finance (-2.29%), TCS (-2.19%), Tech Mahindra (-1.93%), Britannia (-1.86%), and HDFC Life (-1.44%).

Top Gainers and Losers Sector

The top gainers sector were Media (+2.37%), Auto (+1.89%), Metal (+1.52%), Consumer Durables (+1.32%),and Realty (+1.12%).

The top losers sector were IT (-1.18%), Oil & Gas (-1.12%), and Pharma (-0.99%).

The Nifty Midcap 50 was up by 1.90 percent, while the Nifty Small Cap 50 up by 2.78 percent on the day.

The Nifty Midcap 50 index currently closed at 8,638.00, while the Nifty Small Cap 50 index currently closed at 4,297.15.

SECTORS – NOTABLE ACTION
MEDIA +2.37%
AUTO +1.89%
METAL +1.52%
IT -1.18%
OIL & GAS -1.12%
PHARMA -0.99%

Stocks Ban List

(SEBI) F&O ban list (AMBUJACEM open at 394.00 and close at 401.20), are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned AMBUJACEM, from trading in the futures and options (F&O) segment of the stock exchange.

Daily Pivots

Nifty trading range has been within the 17550 to 17770 range.

Read previous -Daily Insights- here
Market Bounced Back
Nifty – Free Fall !
Tumbled-Down Market

This article is only for educational purposes and is not an investment advice.