MARKET UPDATE: Sensex hovering around 60,825 levels down 153 points while the Nifty50 at 18,073, down 46 points
Published On: Wednesday, January 25, 2023 | By: Team KnowMyStock
Opening Bell: Indian frontline indices started lower today(25 January 2023) as investors gear up for the monthly F&O expiry later today. The S&P BSE Sensex was hovering around 60,825 levels in early deals, down 153 points or 0.25 percent. The Nifty50, on the other hand, was at 18,073, down 46 points or 0.25 percent. Tata Motors, Maruti Suzuki, Cipla, Bajaj Auto, Hero MotoCorp, and M&M were the top 50-pack gainers, while Adani Enterprises, HCL Tech, Adani Ports, L&T, IndusInd Bank, Infosys, and Tech M remained top laggards.
In the broader markets, the BSE MidCap and SmallCap indices dropped 0.3 per cent and 0.14 per cent, respectively.
Maruti Suzuki gained 1 after the auto major on Tuesday reported a 129.7 per cent YoY surge in consolidated net profit for Q3FY23 to Rs 2,391 crore, primarily due to price hikes, better demand for its top-end models, and declining raw material costs. TVS Motor Company shares, also, climbed 3 after the company posted a 28 per cent YoY rise in net profit for Q3FY23 at Rs 303.60 crore from Rs 236.56 crore in Q3FY22.
Coffee Day Enterprises, on the downside, shed 2 after Sebi imposed a penalty of Rs 26 crore on the company for alleged violation of securities laws.
SBI Card shares declined 1 per cent as the company's Q3 results missed estimates. The company reported a 32 per cent YoY jump in net profit at Rs 509 crore for Q3FY23, aided by healthy interest income and drop in impairment losses and bad debts.
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