MARKET UPDATE: Sensex fell 590 points to quote at 58,741 level while the Nifty50 dropped 149 points to 17,455 levels
Published On: Monday, January 30, 2023 | By: Team KnowMyStock
Opening Bell: The Indian benchmark indices started the week on a tepid note today(30 January 2023) as clouds over Adani group, amid its clash with US-based Hindenburg Research, weighed on sentiment. The S&P BSE Sensex fell 590 points to quote at 58,741 level, while the Nifty50 dropped 149 points to 17,455 levels. Both indices were down 0.99 percent. ICICI Bank, Axis Bank, L&T, HUL, HDFC, Tata Steel, JSW Steel, RIL, Power Grid, HDFC Bank, Hindalco, SBI Life, Apollo Hospitals, and Bharti Airtel were the top laggards on the Nifty50 index as they fell in the range of 1 percent to 2 percent. In the broader market, the BSE MidCap and SmallCap indices declined up to 0.34 percent. Meanwhile, among sectors, the Nifty Metal index was the top NSE gainer, up 1 percent; while the Nifty Oil and Gas index was the top NSE loser, down 4 percent.
Shares of Adani Group's flagship company,Adani Enterprises, surged over 5 per cent after the company filed a 413-page response to the Hindenburg Group.
Shares of the consumer financier-Bajaj Finance,gained 2.7 per cent. It reported its highest ever quarterly profit at Rs 2,973 crore in the October-December quarter (Q3) of FY23, up 40 per cent year on year (YoY), aided by a healthy rise in net interest income (NII) and drop in provisions and contingencies.
Shares of the Tata Motors were up about 1 per cent after it said the company will be raising its passenger vehicles' prices by 1.2 per cent on a weighted average basis depending on the variant and model from February 1, given a rise in overall input costs.
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