Daily Market Update- Equity 13 Feb 2023 | Globe Capital Market LTD.
Daily Market Update- Equity 13 Feb 2023

Nifty index settled on flat to negative note after a lackluster trading session, closed shop at 17856 levels, down 36 points.

Overview and Outlook

Global Market Update

  • US equity markets ended mix, Dow was up 0.5% while Nasdaq settled lower by 0.61%.
  • European equity markets settled lower in range 0.36% to 1.41%.
  • Asian markets are trading in red
  • SGX Nifty is little changed (as on 8:15 AM)


News highlights from across the globe

  • Asian markets were poised to decline across the region on Monday after the worst week for stocks and bonds this year as traders increased interest rate expectations ahead of crucial the U.S. inflation data due on Tuesday.
  • The yield on 10-year U.S. Treasuries was at 3.74%. Crude price was trading around $85-mark.


Important news updates from the domestic front

  • Adani Enterprises/Adani Green Energy/Adani Ports and SEZ/Adani Transmission: Ratings agency Moody’s affirmed its ratings for eight Adani Group companies and revised the outlook on four of them. Moody’s affirmed ‘Ba3’ rating for Adani Green Energy and changed outlook to negative from stable. Rating for Adani Ports and Special Economic Zone affirmed at ‘Baa3’, while outlook remains stable. Adani Transmission.
  • Mahindra & Mahindra: The company will sell its entire stake in Mahindra Consulting Engineers to Paris-based Artelia Holding SAS for Rs 10.32 crore.
  • Kotak Mahindra Bank: The bank will acquire 100% stake in Sonata Finance for Rs 537 crore. After the acquisition, the bank will leverage Sonata’s distribution network and provide wider suite of banking products to Sonata’s customer base matching their emerging banking needs.
  • TVS Motor Company: Life Insurance Corporation of India decreased its shareholding in the company to 3.36% from 5.37%.
  • BEML: The company received an order worth Rs 377.98 crore for supply of 118 track width mine plough for Arjun MBT MK-1A. The supplies are expected to be completed by January 2026.
  • Canara Bank: The bank hiked lending rates across tenors in the range of 5-25 basis points, effective Feb. 12, 2023.


Nifty Outlook

Nifty index settled on flat to negative note after a lackluster trading session, closed shop at 17856 levels, down 36 points.

Broader markets too performed in line with benchmark, Mid cap index ended flat while Small cap index was up 0.54%, leading to flat market breadth.

Majority of sector gauges tracked at NSE settled flat. Metal index lost maximum, down 1.82% while Nifty Realty  Index witnessed some buying interest up 1.36%.

Nifty index is still trading in the same range i.e. 17600-17900. Any meaningful move is possible only when that range is crossed and sustained on closing basis, until then, the benchmark will continue to consolidate.


Derivatives Overview & Outlook

On Friday, no significant activity was seen in Nifty & Banknifty futures on price front whereas on the open interest front Nifty futures added around 3.5% of open interest and Banknifty futures shed around 6% of open interest.

On the sectoral front, short buildup was seen among Metals, Infra and FMCG stocks whereas some short covering was seen among Telecom stocks.

On options front, Nifty has maximum positions at 18000 CE and 17800 PE.


FII & DII Trading Activity

Last week, FIIs sold stocks worth Rs 3202 Cr in cash segment, bought stocks futures worth Rs 1032 Cr and sold index futures worth Rs 1654 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2288 Cr.


Important Results Today

New India Assurance Company, Allcargo Logistics, Gujarat Gas, Zee Entertainment Enterprises, IRB Infrastructure Developers, FSN E-Commerce Ventures, Castrol India, Suprajit Engineering, Grindwell Norton, Heidelbergcement India, Campus Activewear, Gujarat State Petronet, Carysil, Vijaya Diagnostic Centre, Icra, Ahluwalia Contracts (India), Authum Investment & Infrastructure, Bengal & Assam Company, Linde India, Marksans Pharma, Global Health, Mirza International, MMTC, National Fertilizers, NLC India, Power Finance Corporation, Polyplex Corporation, PTC India, Ratnamani Metals & Tubes.


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