Sensex, Nifty50 flat in morning trade: HDFC twins, Maruti Suzuki amongst top losers

• India’s benchmark indices Sensex and Nifty50 were flat in morning trade on Tuesday amidst positive cues in global markets.
  
• Amongst the top losers were heavyweights HDFC, HDFC Bank as their shares are now ex-dividend, and Maruti Suzuki.
  
• Amongst sectoral indices, realty, PSU bank and IT emerged as the top gainers.

India’s benchmark indices Sensex and Nifty50 were flat in morning trade on Tuesday amidst positive cues in global markets. Amongst the top losers were heavyweights HDFC, HDFC Bank as their shares are now ex-dividend, and Maruti Suzuki. Amongst sectoral indices, realty, PSU bank and IT emerged as the top gainers.

Both the 30-stock Sensex and 50-stock Nifty50 were trading on a flat note, with Sensex at 62,361 points and Nifty50 at 18,410 points.

Top gainers and losers

Top gainers	Change	Top losers	Change
Divi's Labs	1.39%	HDFC	-1.64%
ONGC	1.36%	HDFC Bank	-1.01%
Bajaj Finance	1.24%	Maruti Suzuki	-0.69%
Asian Paints	0.97%	Power Grid Corporation	-0.55%
Cipla	0.96%	UPL	-0.51%

Source: NSE, as on May 16, 2023
Earlier on Monday, both the indices ended on a positive note despite heightened volatility in equity markets around the world – both Sensex and Nifty50 closed the day with gains of 0.5%.

Gold and silver prices edged up, with gold at ₹61,100 per 10 grams while silver was hovering at ₹73,400 per kilogram. Crude oil prices also cooled down, with Brent crude hovering at $75 per barrel.

Sentiments improve in global markets

Amidst an ongoing debt ceiling debate in the US, investor sentiments improved around the world. While the Dow Jones closed 0.14% up on Monday, S&P 500 gained 0.3%. The tech-heavy Nasdaq gained 0.66%.

Asian markets were largely positive, with Taiwan Weighted up by 1.22%, followed by Nikkei 225 which gained 0.68%. Hang Seng was up 0.56%, while KOSPI was higher by 0.27%. Shanghai Composite, on the other hand, was trading flat.

Stocks to watch

Earnings today: Bharti Airtel, Bank of Baroda, LIC Housing Finance, JK Paper, Jindal Steel & Power, Oberoi Realty, Jubilant Ingrevia, Metropolis Healthcare, Paras Defence And Space, among others.

PVR Inox: The multiplex chain reported a net loss of ₹333 crore in the March quarter as against a loss of ₹105 crore a year ago. Its revenue rose 113% to ₹1,169 crore as against ₹579 crore a year ago. It announced plans to close 50 screens across the country over the next six months.

HDFC Bank, HDFC: Markets regulator SEBI has approved a change in the control of HDFC Capital Advisors, which is a subsidiary of HDFC, pursuant to the amalgamation of HDFC with HDFC Bank.

Pfizer: The pharmaceutical company reported a 3% YoY rise in net profit to ₹130 crore, while its revenue grew 4.2% to ₹573 crore. It announced a final dividend of ₹35 per share, along with a special dividend of ₹5 per share.

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