Sensex gains 300 pts, Nifty above 17800 in early trade on Tue, Feb 14; Adani Enterprises shares, Nykaa stock falls

Sensex gains 300 pts, Nifty above 17800 in early trade on Tue, Feb 14; Adani Enterprises shares, Nykaa stock falls

Indian equity indices opened in green on Tuesday amid mixed global cues. The Nifty 50 rose 52 pts or 0.29% to 17,822.90 and Sensex surged 306 pts or 0.51% to 60,738.38. The top gainers on Sensex were Infosys (up 1.52%), Mahindra & Mahindra (up 1.15%), TCS (up 1.09%), Tech Mahindra (up 1%) and Reliance Industries Ltd (up 0.92%) while Tata Motors (down 1.16%), IndusInd Bank (down 1.14%), Titan (down 0.90%), NTPC (down 0.57%) and State Bank of India (down 0.48%).

Nykaa shares fell 4% to Rs 144.15 after FSN E-Commerce, the parent company of Nykaa, reported a 68% on-year fall in its net profit to Rs 9.2 crore for the third quarter of the current fiscal, as compared to Rs 29 crore in the year-ago period. The revenue from operations jumped 33% to Rs 1462 crore from Rs 1098 crore in the same period the previous year. On Monday ahead of the quarterly results, Nykaa shares closed 2.68% lower at Rs 150.55. Falguni Nayar’s company’s expenses jumped 36% on-year to Rs 1455 crore in the October-December quarter of the ongoing financial year as compared to Rs 1067 crore in the last year’s corresponding quarter.

Sectoral Indices

The sectoral indices were trading mixed. Bank Nifty rose 0.12%, Nifty IT surged 1.19%, Nifty Metal fell 0.14%, Nifty Pharma down 0.08%, Nifty PSU Bank down 0.36% and Nifty Realty down 1.48% while Oil & Gas down 0.40%.

Asian and US stock markets

Asian markets were trading mixed in the early morning trade. China’s Shanghai Composite index fell 1.28 pts or 0.04% to 3,282.88, Hong Kong’s Hang Seng dropped 26.42 pts or 0.12% to 21,138.00, Japan’s Nikkei 225 rose 152.29 pts or 0.56% to 27,579.61 and South Korea’s KOSPI climbed 18.54 pts or 0.76% to 2,471.24.

US stock indices concluded in green on Monday, ahead of CPI inflation data, which is scheduled to be published today. The Dow Jones Industrial Average rose 376.66 pts or 1.11% to 34,245.93, S&P 500 advanced 46.83 pts or 1.14% to 4,137.29 and Nasdaq climbed 173.67 pts or 1.48% to 11,891.79.

FII and DII data

Foreign institutional investors (FII) bought shares worth a net Rs 1322.39 crore while domestic institutional investors (DII) purchased shares worth a net Rs 521.69 crore on Monday, February 13, 2023, according to the data available on NSE. For the month till February 13, FIIs sold shares worth a net Rs 4,091.82 crore while DIIs bought shares worth a net Rs 6,974.74 crore.

NSE F&O Ban

BHEL, Indiabulls Housing Finance, Ambuja Cements and Punjab National Bank (PNB) are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Tuesday, 14 February. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.