Indian equity indices opened broadly higher on Monday amid positive global cues. The BSE Sensex rose 325.46 pts or 0.54% to 60,947.23 and NSE Nifty 50 climbed 89.00 or 0.49% to 18,116.65. The top gainers of Sensex were Tata Motors (up 1.20%), HDFC (up 1.14%), HDFC Bank (up 1.12%), IndusInd Bank (up 1.06%) and State Bank of India (up 1.03%) while UltraTech Cement (down 1.42%), NTPC (down 1.46%), Bajaj Finserv (down 0.35%), Maruti (down 0.33%) and Asian Paints (down 0.28%).
ICICI Bank shares rose 1.5% to Rs 883.90 after the private sector lender announced a 34% on-year increase in its net profit for the three months ended December 31 to Rs 8,312 crore, despite an increase in the provisions. ICICI Bank’s provisions increased 12% on-year to Rs 2,257 crore even as the asset quality improved. The bank has made its non-performing assets (NPA) provisioning policy more conservative, a statement said.
Sectoral Indices
The sectoral indices were trading broadly in green. Bank Nifty rose 1.14%, PSU Bank climbed 0.53%, Nifty Private Bank advanced 1.16%, Nifty IT rose 0.48%, Nifty Pharma rose 0.48% while Nifty Realty fell 0.55% and Nifty Metal dropped 0.13%.
Asian and US stock markets
Asia-pacific markets were largely trading in the green on Monday. Japan’s Nikkei 225 rose 324.70 or 1.22% to 26,878.32. Australian shares touched their highest in nearly nine months, as technology stocks tracked Wall Street’s strong finish last week and firm crude oil prices lifted energy stocks. The S&P/ASX 200 index rose 0.1% to 7,458.00, extending gains to a fourth session. Trading volumes were low, with some major Asian markets including key trading partner China closed for holidays.
The US markets closed in the green on Friday. The Dow Jones Industrial Average rose 330.93 pts or 1% settling at 33,375.49, S&P 500 climbed 73.76 pts or 1.89% to 3,972.61 and tech-heavy Nasdaq surged 288.17 pts or 2.66% ending at 11,140.43.
FII and DII data
Foreign institutional investors (FII) sold shares worth a net Rs 2002.25 crore while domestic institutional investors (DII) bought shares worth a net Rs 1509.95 crore on Friday, January 20, 2023, according to the data available on NSE. For the month till January 22, FII sold shares worth a net Rs 19,880.11 crore while DII bought shares worth a net Rs 16,182.38 crore.
NSE F&O Ban
PVR, Delta Corp and L&T Finance Holdings are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, January 23. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in these stocks.