Daily Market Update- Equity 3 Feb 2023 | Globe Capital Market LTD.
Daily Market Update- Equity 3 Feb 2023

Benchmark nifty index settled flat at 17610, down 6 point from its previous closing levels. Nifty traded in very narrow range today and expire at 17610.

Overview and Outlook

Global Market Update

  • US equity markets were mix, Nasdaq & S&P 500 were up by 3.25% and 1.47% while Dow Jones ended flat
  • European equity markets were up in range 0.76 to 2.12%
  • Asian equity markets are trading mix
  • SGX Nifty is little changed


News highlights from across the globe

  • Asian markets are poised for a cautious open as disappointing earnings from some big-tech names after-hours weigh on sentiment following a surge in the U.S. equities during official trading.
  • The yield on 10-year Treasuries declined four basis points to 3.37%. Crude price changed little, while gold fell 0.6%.


Important news updates from the domestic front

  • Adani Enterprises: The National Stock Exchange has put Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., and Ambuja Cements Ltd. under short-term additional surveillance measure. Under the framework, applicable margin will be 50% or existing margin, whichever is higher, subject to maximum rate of margin capped at 100%, a circular on the NSE said. This will be effective from Feb. 6 on all open positions as on Feb. 3 and new positions created from Feb. 6.
  • SBI Life Insurance Co.: The life insurer told the exchanges that the impact of Budget recommendations to non-linked policies with annual premium of above Rs 5 lakh will not be significant as the share of such policies in the total annual premium equivalent is under 2%.
  • TVS Motor Co.: The company, through its subsidiary TVS Motor (Singapore) will acquire 31.44 lakh series AA shares in electric mobility player Ion Mobility for $9.5 million (Rs 77.89 crore).
  • Adani Ports and Special Economic Zone: The company’s subsidiary Adani Harbour Services incorporated Port Harbour Services International in Singapore to carry out business, consultancy of port and marine services and trading in equipment relating to port and marine business.
  • Engineers India: The company signed an MoU with Ministry of Housing and Urban Affairs for providing transaction advisory services for setting up large scale bio‐methanation and waste-to-energy projects in selected 25 cities.
  • HDFC Asset Management Company: The company received SEBI approval for change in its control due to proposed stake sale by abrdn Investment Management Limited, the co-sponsor of HDFC Mutual Fund.
  • NMDC: The company fixed prices of iron ore, with effect from Jan. 28, 2023,  with lump ore at Rs 4,400 per tonne, and fines at Rs 3,910 per tonne.
Nifty Outlook
Benchmark nifty index settled flat at 17610, down 6 point from its previous closing levels. Nifty traded in very narrow range today and expire at 17610.

There was mixed trade in the broader market today, the small cap index closed with the gain of almost 1%.

Majority of sector gauges tracked at NSE settled in red amongst them Metal and Oil & Gas index was the worst performer, close with the loss of 4.3% and 1.99% respectively. While FMCG and IT index was the top performer, gained 2.28 and 1.8% respectively.

Nifty index is trading in range 17450-700 and an either side break is needed for next directional move.


Derivatives Overview & Outlook

Yesterday, Nifty and Banknifty futures added around 2.5% & 5% of open interest respectively.

On sectoral front, long buildup was seen among IT, Banking and Finance stocks whereas some short buildup was seen among Infra Chemical stocks.

On options front, Nifty will start the new weekly contracts with maximum positions at 17600 PE and 18500 CE followed by 17600 CE.


FII & DII Trading Activity

Yesterday, FIIs sold stocks worth Rs 3065 Cr in the cash segment, bought stocks futures worth Rs 244 Cr and also bought index futures worth Rs 797 Cr. DIIs were net buyers in the cash segment to the tune of Rs 2371 Cr.


Results on February 3

State Bank of India, ITC, InterGlobe Aviation, Tata Power, Bank of Baroda, Quess Corp, Zydus Lifesciences, JK Tyre & Industries, Tube Investments of India, Marico, One97 Communications, Kansai Nerolac, Divi’s Laboratories, Aarti Industries, Mahindra & Mahindra Financial Services, Jubilant Pharmova, Medplus Health Services, Manappuram Finance, Sumitomo Chemical India, Emami, Praj Industries, Sun TV Network, Star Cement, Jamna Auto Industries, Thyrocare Technologies, Vakrangee, Shipping Corporation of India, PTC India Financial Services, KRBL, Ion Exchange, India Cements, Ethos, Dalmia Bharat Sugar & Industries, Borosil, Brightcom Group


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