Markets trade flat amid volatility; RIL in focus ahead of Q3

20 Jan 2023 , 09:42 AM

Indian markets traded nervously on Friday with benchmark Sensex and Nifty 50 with marginal ups and downs. Also, December 2021 (Q3FY22) quarter has further influenced domestic equities.

At around 9:42, Sensex was trading at 60,830.20 down by 28.23 points or 0.05%. Nifty 50 performed at 18,093.40 lower by 14.45 points or 0.08%.

In terms of sectoral indices, on NSE, the Auto, FMCG, IT, Metal logged selling pressure however Banking index and PSU Bank stocks trading higher.

Gainers on Nifty were – Power Grid, Tata Motors, Adani Ports, SBI and HDFC Bank.

Losers on Nifty were – Sun Pharma, HUL, Asian Paints, Titan and Nestle India tumbling between 1-2%.

Reliance Industries, HDFC Life Insurance Company, JSW Steel, LTIMindtree, Union Bank of India, Bandhan Bank, RBL Bank, Aether Industries, Atul, Coforge, DCM Shriram, Heritage Foods, Indian Energy Exchange, JSW Energy, NELCO, Petronet LNG, Ramkrishna Forgings, Shakti Pumps, and Tanla Platforms will be in focus ahead of quarterly results today.

Large Q3 results from RIL, ICICI Bank and Kotak have to be closely watched for indications and the results may sway the investors’ sentiments.

On the global front, Asian markets opened in the green as the Japanese ‘Nikkei’ tarded mildly in the green while the Hang Seng was up over 200 points in early trade. The ASX & New Zealand indices also traded in the green as markets look forward to better equity returns in 2023.

Overnight, on Wall Street, US markets see another day of weakness as markets worry over rate action by the Federal Reserve on February 01 with consumer demand seeing weakness which indicates recession in 1st half of 2023. Dow Jones closes lower by 250 point losing over 1200 points in three sessions. Nasdaq also loses momentum to close lower by 104 points.

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