Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%

CLOSING BELL: HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL were top Sensex losers

9:10 AM

Commodity Heatmap :: Most metals fall in early deals

9:08 AM

Pre-Open Session :: Nifty holds 17,850

9:07 AM

Pre-Open Session :: Sensex down less than 100 pts

9:03 AM

Rupee opens at 82.62/$ as against previous close of 82.51/$

9:01 AM

Comment :: 'Rising SIP inflows can counter rising FII outflows'

Rallies are likely to be sold into since FIIs have been sustained sellers in the market from the beginning of 2023. But, the fact that FII selling has declined to Rs 144 crores (on 9th February) is a positive.
 

A healthy trend in the market is the sustained rise in SIPs into equity which has touched Rs 13,856 crores in January this year. Rising inflows when the market is weak is a very healthy trend and can act as a counter to the rising FII outflows. This will bring stability to the market.
 

Q3 results from the broader market indicate pressure on margins. Many mid and smallcap results are disappointing. Now, safety is in large caps. Investors should focus on segments where earnings visibility is good, like capital goods, IT and banking.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

8:58 AM

Stocks to Watch: LIC, Zomato, Adani group, Varun Beverages, Voltas, M&M

Q3 earnings watch: Mahindra and Mahindra, ABB India, PB Fintech, Abbott India, Alkem Laboratories, Ashoka Buildcon, Astrazeneca Pharma, BEML, BHEL, Dilip Buildcon, Delhivery, EIH, Glenmark Pharmaceuticals, JK Lakshmi Cement, KFin Technologies, Lemon Tree Hotels, Metropolis Healthcare, NALCO, Info Edge India, and Oil India will release their quarterly earnings today.

 

Adani group stocks: Following its review, global index provider MSCI said there will be weight reduction in select Adani Group stocks. Changes will be effective from March 01, 2023. As per a report by FT, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission and ACC. The cuts will result in smaller weightings for these stocks in MSCI’s closely watched indices, triggering outflows. READ MORE

8:55 AM

LIC Q3 results: Net profit surges multi-fold to Rs 6,334.19 crore

LIC reported a net premium income of Rs 1.11 trillion in Q3, up 14.51 per cent year-on-year (YoY) from Rs 97,620.34 crore a year ago, with the first-year premium income rising 11 per cent YoY to Rs 9,724.71 crore, renewal premium increasing 6 per cent YoY to Rs 60,194.87 crore, and single premium income jumping 30 per cent YoY to Rs 42,117.10 crore. READ MORE

8:52 AM

Zomato loss widens to Rs 347 crore on biz slowdown, Blinkit buy

The food delivery business was sequentially flat. The gross order value (GOV) for the third quarter (Q3) of FY23 was only 0.7 per cent in an otherwise strong quarter. Adjusted revenue declined 1 per cent quarter-on-quarter (QoQ), driven largely by a decline in order volumes.

 

Adjusted revenue grew 30 per cent YoY. The company attributed this fall to an industry-wide slowdown in the food delivery business since October 2022. READ MORE

8:49 AM

IRCTC Q3 results: Net profit rises 22% to Rs 255 crore, revenue up 276%

While the company’s revenue from the catering business jumped 276.6 per cent YoY to Rs 394.15 crore, the revenue from internet ticketing business declined 3.79 per cent to Rs 301 crore in Q3. READ MORE

8:46 AM

Adani Total Gas Q3 results: Net profit rises 17%, revenue up 27%

“During the quarter, Adani Total Gas delivered a good performance, despite the high input gas price scenario. While gas sector has been seeing volatility in prices due to geopolitical issues, we have seen a moderation in the international gas prices in the recent weeks,” Suresh P Manglani, CEO of Adani Total Gas, said. READ MORE

8:42 AM

WATCH :: What does Mark Mobius think of the Adani – Hindenburg saga?

8:39 AM

MSCI review :: 2 additions & 1 deletion made to India Domestic Index

8:36 AM

MSCI review :: 24 additions & 5 deletions made to India Small Cap Index

8:33 AM

Tech View :: Charts suggest Nifty Energy index could bounce back

Observing the trend over the past four trading sessions, the index appears to be encountering resistance at 22,650, and a violation of this level could signal the start of accumulation. READ MORE

8:31 AM

Mehul Kothari recommends buying ABFRL, EaseMyTrip

EASEMYTRIP

 

Target: Rs 60

 

Stop Loss: Rs 48.50

 

The stock is resting at a strong support of 200 DEMA and 200 DSMA. We are witnessing a bullish engulfing candlestick pattern on the daily chart. The support of Rs 50 has been a demand zone for the stock since quite some time. READ MORE