Indian equity indices opened marginally in green on Friday. The NSE Nifty 50 rose 9.75 points or 0.05% to 18,001.90 and BSE Sensex rose 10.82 points or 0.02% to 60,364.09. The top Nifty gainers were Larsen & Toubro, Reliance Industries, ITC, Hindalco and Power Grid while Coal India, TCS, JSW Steel, Tech Mahindra and Bajaj Finserv were the top losers.
IDBI Bank, D-Mart shares in focus today
IDBI Bank shares rose 3.29% to Rs 56.55 on Friday after the Securities and Exchange Board of India gave its approval for the reclassification of the government’s shareholding in the bank as ‘public’ after its stake sale. The government and state-run Life Insurance Corporation of India (LIC) will sell a 60.72% stake in IDBI Bank as part of the disinvestment. After the stake sale, the government’s shareholding will be reduced to 15%. On the other hand, Avenue Supermarts, the parent company of D-Mart, shares rose 1.57% to Rs 3919.30 after the company reported a 24.7% rise in its standalone revenue from operations to Rs 11,304.58 crore for the third quarter ended on December 31, 2022. The company had revenue from operations of Rs 9,065.02 crore in the October-December quarter a year ago, Avenue Supermarts said in a regulatory filing on Tuesday. The total number of stores stood at 306 as of December 31, 2022.
Sectoral Indices
In the sectoral indices, Nifty Bank was down 0.23%, Nifty Pharma was up 0.12%, Nifty IT was down 0.44%, Nifty PSU Bank was down 0.31% while Nifty FMCG was up 0.46% and Nifty Metal was up 0.37%. The volatility index India VIX was down 1.83%.
Asian and US stock markets
In other Asian markets China’s Shanghai composite index rose 11.69 points or 0.37% to 3,166.91 on Friday and Hong Kong’s Hang Seng rose 110.73 points or 0.54% to 21,162.91. The US stock market concluded the overnight session in red.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 1449.45 crore while domestic institutional investors (DII) offloaded shares worth a net Rs 194.09 crore on Thursday, January 5, 2023, according to the data available on NSE.
NSE F&O Ban
Indiabulls Housing Finance is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Friday, January 6, 2023.