Trendlyne Analysis

Indian indices closed in the red, with the Nifty 50 falling below the key 18,000 mark. European indices followed the global trend and traded lower than Monday’s levels. Most major Asian indices closed in the red, as the US indices closed mixed on Monday. US stocks gave up their gains during the second half of the trading session after two Fed officials said that the Central bank will likely need to raise interest rates above 5% before pausing and holding for some time. The tech-heavy Nasdaq 100, which was up over 2% fell from the day’s high but still closed 0.6% higher. The Dow Jones closed 0.3% lower while the S&P 500 settled flat. Brent crude oil futures traded flat after rising over 1.5% on Monday as traders look ahead to the US CPI inflation data release later this week.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Bank and Nifty Realty closed lower than Monday’s levels. Nifty IT closed in the red as investors assessed TCS’ Q3FY23 result, which was announced post-market hours on Monday.

Nifty 50 closed at 17,914.15 (-187.1, -1.0%), BSE Sensex closed at 60,115.48 (-631.8, -1.0%) while the broader Nifty 500 closed at 15,325.25 (-124.9, -0.8%)

Market breadth is in the red. Of the 1,955 stocks traded today, 673 were in the positive territory and 1,223 were negative.

• Atul beats Vinati Organics in PE ratio, FII & MF holdings, and broker average target upside but lags in annual RoE, 3-year price change, promoter holding and annual RoCE.

• PSP Projects receives a government project worth Rs 1,344 crore for the construction of a high-rise office building at Surat, Gujarat, for the Surat Municipal Corp.

• SBI Life Insurance, Havells India and Syngene International see a positive shift in their share prices ahead of Q3FY23 results in January.

• IT stocks like LTI Mindtree, Tata Consultancy Services and Tech Mahindra are falling in trade. All constituents of the broader Nifty IT index are also falling.

• Eicher Motors, Shree Cements and Canara Bank trade below their second support or S2 levels as the market trades lower.

• Bosch rises and nears 52-week high in a weak market. The stock ranks medium on the Trendlyne Checklist score. It shows up in a screener of stocks where FII/FPIs increased their shareholding QoQ.

• Kansai Nerolac Paints is rising as around 10.1 lakh shares (0.19% equity) amounting to Rs 41.2 crore change hands, according to reports.

  Kansai Nerolac Large Trade | 10.05 lakh shares (0.19% equity) worth Rs 41.19 cr change hands at an average of Rs 410/share pic.twitter.com/gqSGopeifZ

  — CNBC-TV18 (@CNBCTV18Live) January 10, 2023

• Glenmark Pharmaceuticals rises as it launches Bumetanide Injection USP, a lower-cost generic version of Bumex injection. Bumex injections have achieved annual sales worth $16.5 million over the 12 months ending November 2022.

• Lupin rises as the Spanish Ministry of Health approves the reimbursement of NaMuscla (mexiletine), a drug used for the treatment of myotonia in adults with non-dystrophic myotonic disorders.

• Motilal Oswal maintains its ‘Buy’ rating on APL Apollo Tubes with a target price of Rs 1,400. This indicates an upside of 28.8%. The brokerage believes the company’s rapid capacity expansion and market share leadership amid growing demand will lead to robust sales volumes. It expects the firm’s net profit to grow at a CAGR of 31% over FY22-25.

• Mutual Funds' net inflow grows 3.3X MoM to Rs 7,280.4 crore in December 2022 from Rs 2,224 crore in November 2022, according to data released by the Association of Mutual Funds in India (AMFI).

  #December Mutual Fund Data | Net equity inflow at ?7,280.40 cr vs ?2,224 cr (MoM)
  
  ??Hybrid Fund inflow at ?2,255.3 cr vs ?6,477.3 cr outflow (MoM)#MutualFund #AMFI #MFData pic.twitter.com/3mi5wh6AxE

  — CNBC-TV18 (@CNBCTV18Live) January 10, 2023

• PSU Bank stocks like Bank of Maharashtra, UCO Bank, Indian Overseas Bank and Punjab & Sind Bank are falling in trade. The broader sectoral index Nifty PSU Bank is also trading in the red.

• Tata Motors is surging as its Q3FY23 global wholesales rise 13% YoY to 3.2 lakh units. Passenger vehicle global wholesales increase 23% YoY and Jaguar wholesales grow 15% YoY. The company features in a screener of stocks with upcoming results and net profit growth for the previous quarter greater than 10% YoY and QoQ.

• Foreign brokerage Citi expects weak volumes of Indian automobile companies to offset the expansion of gross margins in Q3FY23.

  #BrokerageRadar | @Citi on Auto: Weaker volumes to offset gross margin expansion in Q3 #StockMarket #StocksToWatch pic.twitter.com/LKY1EyCIXS

  — ET NOW (@ETNOWlive) January 10, 2023

• IRB Infrastructure reports a 32% YoY increase in toll collection to Rs 388 crore in December 2022. This is significant growth compared to a 6% MoM rise as December 2021 toll collection was affected by farmers' protests. It shows up in a screener of stocks nearing 52-week high with significant volumes.

• Sona BLW Precision Forgings rises more than 4.5% in a weak market after it inks a pact to buy a 54% stake in NOVELIC. NOVELIC is a Serbia-based company providing sensors, perception solutions and embedded systems in the automotive industry. The cost of acquisition will be 40.5 million euros.

• Indian rupee appreciates to 82.27 from the previous close of 82.36 against the US dollar in early trade today.

  #Rupee Check | Rupee opens at 82.27/$ vs Monday’s close of 82.36/$#RupeeVsDollar #USDINR #INR #USD #Dollar #USDollar pic.twitter.com/62nLGckQq3

  — CNBC-TV18 (@CNBCTV18Live) January 10, 2023

• Dolly Khanna trims her stake in Sharda Cropchem to below 1% in Q3FY23, against 1% in Q2FY23.

• Rakesh Jhunjhunwala's portfolio sells a 0.58% stake in Bilcare for approx Rs 56.8 lakh in a bulk deal on Monday.

• Star Allied Health Insurance’s total gross premium rises 13% YoY to Rs 8,752 crore as on December 2022. Retail insurance and personal accident segment see growth in gross premium, however, group insurance falls 38% YoY. It shows up in a screener of stocks with increasing revenue for the past four quarters.

• Tata Consultancy Services’ Q3FY23 net profit rises 4% QoQ to Rs 10,846 crore and revenue grows 5.3% QoQ on the back of robust growth in the markets of North America and the United Kingdom. The firm’s EBIT margin rises 50 bps QoQ to 24.5% as employee costs and attrition fall.

Riding High:

Largecap and midcap gainers today include Tata Motors Ltd. (412.90, 6.02%), Sona BLW Precision Forgings Ltd. (447.45, 5.91%) and Max Financial Services Ltd. (770.20, 4.07%).

Downers:

Largecap and midcap losers today include Adani Enterprises Ltd. (3,646.90, -5.41%), IDBI Bank Ltd. (55.90, -4.93%) and Indian Overseas Bank (29.65, -3.89%).

Volume Rockets

13 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Tata Motors Ltd. (412.90, 6.02%), Sona BLW Precision Forgings Ltd. (447.45, 5.91%) and Tanla Platforms Ltd. (728.60, 3.91%).

Top high volume losers on BSE were Adani Enterprises Ltd. (3,646.90, -5.41%) and Procter & Gamble Hygiene & Healthcare Ltd. (13,923.15, -0.94%).

Tata Motors Limited (DVR) (217.45, 3.75%) was trading at 5.8 times of weekly average. Eureka Forbes Ltd. (490.00, 3.07%) and Kansai Nerolac Paints Ltd. (415.40, 2.99%) were trading with volumes 5.3 and 5.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks made 52-week highs, while 5 stocks were underachievers and hit their 52-week lows.

Stocks touching their year highs included - Zydus Lifesciences Ltd. (457.35, 3.00%), Jindal Steel & Power Ltd. (599.00, -0.43%) and Mahindra CIE Automotive Ltd. (345.90, 0.26%).

Stocks making new 52 weeks lows included - Atul Ltd. (7,690.00, -1.04%) and Vodafone Idea Ltd. (7.25, -2.68%).

14 stocks climbed above their 200 day SMA including Max Financial Services Ltd. (770.20, 4.07%) and Tata Motors Limited (DVR) (217.45, 3.75%). 17 stocks slipped below their 200 SMA including Adani Ports & Special Economic Zone Ltd. (796.40, -2.48%) and GMM Pfaudler Ltd. (1,607.65, -2.15%).