Edited By: Mohammad Haris
Last Updated: February 20, 2023, 09:52 IST
Shares of companies like Motherson, Sun Pharma, HUL, Dilip Buildcon, Cipla and Zydus will be in focus in today’s trade.
Among the top gainers were ITC, Hindustan Lever, HCL Tech, PowerGrid, and Bharti Airtel; while the top losers were Bajaj Finance, Wipro, Tata Steel, Titan and Tata Motors
The BSE Sensex on Monday opened 142.87 points or 0.35 per cent higher at 61,145.44, while the NSE Nifty began the day with a gain of 22.75 points or 0.13 per cent at 17,966.95. The rupee on Monday also rises 16 paise to 82.66 against US dollar in the early trade.
Among the top gainers were ITC, Hindustan Lever, HCL Tech, PowerGrid, and Bharti Airtel. While, the top losers were Bajaj Finance, Wipro, Tata Steel, Titan and Tata Motors.
Healthcare, pharma and metal were trading lower by up to 1 per cent, while media, PSU bank, auto, bank, and FMCG were trading up by up to 0.5 per cent.
Shares of companies like Motherson, Sun Pharma, HUL, Dilip Buildcon, Cipla and Zydus will be in focus in today’s trade, according to experts.
The rupee on Monday gained 16 paise to 82.66 against the US dollar in the early trade, as the American currency retreated from its elevated levels. Forex traders said weak crude oil prices also lent some support to the local unit.
V K Vijayakumar, chief investment strategist at Geojit Financial Services, said, “There is a growing concern that the equity markets are ignoring the risk of high inflation which is declining only very slowly. Comments from some Fed officials that they might have to remain hawkish for an extended period of time and might support even a 50 bp rate hike in the March Fed meet are negative for equity markets. US bond yields and the dollar index have inched up from their recent lows in response to this concern. In India, it appears that the period of sustained selling by FIIs is over and they have started buying on some days.”
He added that the negative sentimental impact of the Adani issue appears to be behind us. The likely hawkish stance from the Fed will restrain the rally in the US market and this will also keep the Indian market in a range, attracting selling at higher levels and buying at lower levels. Valuations of the leading banking names, large-cap IT and capital goods companies are reasonable now and may be accumulated on declines.
On Friday, benchmark indices Sensex and Nifty had snapped their three-day winning run to close down by half a per cent due to selling in financial and IT shares amid weak global market trends. The 30-share BSE Sensex had declined by 316.94 points or 0.52 per cent to settle at 61,002.57 as 22 of its constituents ended in red. The broader NSE Nifty had dropped by 91.65 points or 0.51 per cent to end at 17,944.20 with 33 of its stocks closing down.
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