Market Summary

Nifty started 2023 on a positive note with frontline indices rising up to 1%.

Companies

Tata Steel (+6%) and Hindalco (+3%) rose after Jefferies turned positive on Indian metals. ONGC (+3%) rose as the Domestic brokerage and research firm Motilal Oswal thinks that the domestic oil and gas production will improve in FY23.

Sectors

Nifty Metal (+3%) rose due to strong performance of SAIL, MOIL, Tata Steel, NALCO and Vedanta. Nifty Media (+1%) rose due to strong performance of DB Corp, Network 18, Dish TV, and TV18 Broadcast. Nifty Realty (+1%) rose due to strong performance of Sunteck Realty, Indiabulls Realty, Hemisphere and Sobha.

News of The Day

1.​​SML Isuzu (+20%) rose after the company's sales jumped by a 37% (959 units) YoY in Dec. (Business Standard)

2.Ashok Leyland (+4%) rose after the company reported a 45% sales in the December quarter. (Zee Business)

3.Steel Strips Wheels Ltd (+3%) rose after the company reported a 43% increase YoY jump in its sales turnover in Dec 2022. (CNBC TV 18)

4.Satia Industries (+3%) rose after it bagged multiple orders worth Rs 200 cr. (The Print)

5.Karur Vysya Bank (-2%) declined after the bank reported a flat CASA ( Current Account and Savings Accounts) movement. (CNBC TV 18)

Market Sentiment

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