Stocks Sharp Rally

Nifty Trader • January 17, 2023

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Index	Price	Change	% Chg
NIFTY 50	18053.30	+158.45	+0.89%
NIFTY BANK	42235.05	+67.50	+0.16%
BSE SENSEX	60655.72	+562.75	+0.94%

Daily closing price, change and % change of benchmark indices.

Edge higher, Nifty closed at 18053.30

Today, the NSE Nifty 50 started out strong, gaining 0.89 percent. This put the Nifty index above 18050, a level it hasn’t seen since early February. This is good news for the Indian stock market, which has been volatile lately. Let’s hope this trend continues!

The Nifty charts are looking very bullish and are hinting at the possibility of an upside breakout. The recent higher highs and the positive momentum are both positive signs. We could see a sharp rally in the markets.

Nifty Bank ended at 42235.05

The Bank Nifty also opened in red and was up by 0.16 percent closed in green at 42235.05. Similarly, the BSE Sensex was up by 0.94 percent and closed in green at a high of 60655.72.

The Indian stock market witnessed a positive start to the week, with the BSE Sensex and Nifty50 both gaining over half a percent. The Bank Nifty also opened in red but recovered to close in green, thanks to strong performance from HDFC Bank, AU Bank, and Kotak Bank.

Despite concerns about the global economy, domestic markets in India rose today after news that wholesale inflation had dropped to a 2-year low of 4.9%. This is good news for the Indian economy, which has been struggling in recent months.

One reason for the market uptick may be the government’s decision to slash windfall tax on crude and aviation fuel. This will provide a boost to the oil refining industry, which is a major driver of the Indian economy.

With inflation under control and the government taking steps to support key industries, there is reason to be optimistic about the Indian economy in the coming year.

The momentum indicator is a technical analysis tool that measures the rate of change in price. A positive crossover occurs when the indicator moves from negative to positive territory, which is considered a buy signal.

All parameters are currently suggesting a sharp up move in price over the next few trading sessions. This is an ideal time to enter into long positions.

The advance-decline ratio is a technical indicator that measures the number of stocks advancing versus the number of stocks declining. A ratio of 1.0 would indicate that there are as many stocks advancing as there are declining. A ratio below 1.0 would indicate that there are more stocks declining than advancing. The advance-decline ratio for today was 0.83, which means that there were more stocks declining than advancing.

The market breadth was also negative today, which means that the majority of stocks were declining. The volatility index, India Vix, decreased by 2.87 percent to settle at 14.59. The FIIs were net buyers today, which means that they bought more shares than they sold.

Overall, it was a negative day for the markets. The advance-decline ratio and market breadth both indicate that the majority of stocks were declining. The volatility index decreased, but it is still relatively high. The FIIs were net buyers, but they weren’t enough to offset the overall negative market sentiment.

DAILY MARKET ACTION
Advancers – 998
Decliners – 1202
52Wk High – 31
52Wk Low – 35
High Band Hitters – 73
Low Band Hitters – 40
200d SMA – 17280
50d SMA – 18288
20d SMA – 18035

Top Gainers and Losers

The top gainers were LT (+3.73%), Hindustan Unilever (+2.73%), HDFC (+1.73%), HCL Technologies (+1.58%), and TCS (+1.41%).

The top losers were SBIN (-1.59%), Bajaj Finserv (-0.80%), IndusInd Bank (-0.63%), Wipro (-0.60%), and Tata Steel(-0.54%).

Sectors & Broader Indices

The top gainers sector were FMCG (+1.20%), Realty (+1.17%), Oil & Gas (+1.05%), IT (+0.80%), and Auto (+0.57%).

The top losers sector were Media (-0.86%), Consumer Durables (-0.15%), and Pharma (-0.09%).

The Nifty Midcap 50 was down by 0.13 percent, while the Nifty Small Cap 50 down by 0.02 percent on the day.

The Nifty Midcap 50 index currently closed at 8695.65, while the Nifty Small Cap 50 index currently closed at 4337.55.

SECTORS – NOTABLE ACTION
MEDIA -0.86%
CONSUMER DURABLES -0.15%
PHARMA -0.09%
FMCG +1.20%
REALTY +1.17%
OIL & GAS +1.05%

(SEBI) F&O ban list L&TFH, GNFC and IBULHSGFIN are not currently on the stock exchange. L&TFH open at 95.30 and close at 95.15, whereas GNFC open at 564.95 and close at 573.15, while IBULHSGFIN open at 141.05 and close at 141.

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

This is due to the fact that L&TFH, GNFC and IBULHSGFIN are not currently listed on the stock exchange.

L&TFH, GNFC and IBULHSGFIN these are large companies and their share prices are likely to be affected by this ban.

The company has been engaged in asset-liability management (ALM) and has been working on reducing its dependence on wholesale funding. IHF has also been looking to dispose of its non-core businesses.

The move to reduce its stake below 10% is aimed at meeting the Reserve Bank of India’s (RBI) requirement that promoters’ stake in housing finance companies should not be less than 10%.

IBULHSGFIN possiblities of exit from ban list.

This would be good news for the company, as it would allow them to resume operations. However, nothing has been confirmed yet and we will have to wait and see what happens.