Sensex dips 124 points, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%
It was a lacklustre session for the markets on Friday as lack of fresh triggers kept indices within a narrow range. The S&P BSE Sensex fell 123.5 points, or 0.2 per cent, to settle at 60,682.7 levels today amid profit booking in HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL.
The Nifty50, meanwhile, closed at 17,857, down 37 points or 0.2 per cent. In the broader markets, the BSE SmallCap indices outshone its peers by rising 0.48 per cent. The BSE MidCap index settled flat with a positive bias.
Among individual shares, shares of Gautam Adani group companies continued to reel under pressure Adani Green Energy, Adani Transmission and Adani Total Gas hitting their respective 52-week lows on the BSE in Friday’s intra-day trade.
Besides, shares of digital financial services firm One97 Communications, which owns Paytm, slipped 9 per cent to Rs 640 on the National Stock Exchange (NSE) in Friday’s intra-day trade on the back of heavy volumes.
Sectorally, the Nifty Metal index slipped 2 per cent, while the Nifty Realty index gained 1.36 per cent.
Shares of HCL Technologies slipped around 3 per cent to Rs 1,114 on Friday as the weightage of the information technology (IT) firm was reduced by 0.2 basis points in the MSCI index. The changes come into effect on March 1, 2023.
Shares of digital financial services firm One97 Communications, which owns Paytm, slipped 9 per cent to Rs 640 on the National Stock Exchange (NSE) after around 32.25 million equity shares, representing nearly 5 per cent of total equity, changed hands on the counter.
Shares of restaurant aggregator Zomato dipped 7 per cent to Rs 50.35 after the company’s losses widened to Rs 346.6 crore for the quarter that ended in December (Q3FY23). Global brokerage Jefferies believes outlook seems positive as break-even target stays, as early as Q4FY23 – another positive in the context of Zomato Gold.
Shares of CG Power and Industrial Solutions continued at their upward movement, hitting a new high of Rs 327, as they rallied 5 per cent on Friday. The rally comes after MSCI decided to include the Murugappa Group company in its India index. The changes will take place at the close of February 28, 2023.
Shares of HG Infra Engineering hit a 52-week high of Rs 743 backed by heavy volumes. In the past two trading days, the stock has surged 13 per cent after the civil construction company reported a good set of numbers for the quarter ended December 2022 (Q3FY23). It surpassed its previous high of Rs 720, touched on January 20, 2022.
Here are some picks from the week gone by.
