Sensex, Nifty50 edge higher in morning trade amid volatility: Realty, auto stocks gain

• India’s benchmark indices Sensex and Nifty50 shook the opening uncertainty to edge higher in morning trade on Thursday amid mixed global cues and increased volatility due to the monthly expiry of futures and options.
• Realty, auto and energy stocks gained in morning trade while banking and FMCG stocks remained flat.
• Sensex and Nifty50 were both up 0.1% to 60,368 and 17,830 points respectively.

India’s benchmark indices Sensex and Nifty50 shook the opening uncertainty to edge higher in morning trade on Thursday amid mixed global cues and increased volatility due to the monthly expiry of futures and options. Realty, auto and energy stocks gained in morning trade while banking and FMCG stocks remained flat.

Sensex and Nifty50 were both up 0.1% to 60,368 and 17,830 points respectively.

Top gainers and losers on Nifty50

Top gainers	Change	Top losers	Change
Bajaj Finance	2.33%	HDFC Life	-2.58%
Bajaj Finserv	1.84%	Grasim Industries	-0.83%
SBI Life Insurance	1.42%	Apollo Hospitals	-0.76%
Bharat Petroleum	1.28%	Power Grid Corporation	-0.76%
UPL	1.17%	HUL	-0.71%

Source: NSE, as on April 27, 2023

Earlier on Wednesday, both the indices closed 0.3% higher led by FMCG, realty and banking stocks.

Gold and silver prices cooled down considerably, with gold falling by 0.5% to ₹59,960 per gram, while silver also fell by 0.5% to ₹73,900 per kilogram. Brent crude oil fell rapidly to $77.8 per barrel on Thursday morning.

Mixed global cues

Economic concerns and banking sector jitters in the US pushed markets lower once again on Wednesday, with Dow Jones falling by 0.7% while S&P 500 fell 0.4%. Healthy earnings of Google-parent Alphabet gave the tech-heavy Nasdaq a boost, lifting it by 0.5%.

Markets in Asia were mixed, with Shanghai Composite rising 0.4%, while KOSPI and Taiwan Weighted rose 0.24% each. On the other hand, Nikkei 225 was down 0.23%, while Hang Seng fell 0.12%.

Stocks to watch

Maruti Suzuki: India’s leading car maker Maruti Suzuki on Wednesday reported a 43% year-on-year rise in fourth-quarter standalone net profit to ₹2,624 crore, beating analysts’ expectations. For FY23, net profit more than doubled to ₹8,049 crore from ₹3,766 crore, thanks to higher sales volume and improved realisations.

Bajaj Finance: The non-banking financial company (NBFC) giant Bajaj Finance on Wednesday reported a net profit of ₹3,158 crore for the fourth quarter, registering a 30% growth over ₹2,420 crore in the year-ago quarter and beating analysts’ estimates. The net profit was higher than the ET Now Poll estimate of ₹2,978 crore.

Infosys: The IT major has partnered with Walmart Commerce Technologies to simplify customer and employee experiences for retailers.

SBI Life Insurance Company: The insurer reported 15% growth in net profit for March quarter to ₹777 crore while net premium jumped 14% to ₹19,897 crore. The value of the new business grew 23% at ₹1,440 crore.

HDFC Life Insurance: The company reported a net profit of ₹359 crore for March quarter, which was almost flat from ₹358 crore last year. Meanwhile, net premium rose 36% on year to ₹19,426 crore in Q4.

Union Bank of India: The lender’s board has approved a fund raise of ₹10,100 crore through public issues and bonds.

Earnings today: Hindustan Unilever, Wipro, Axis Bank, Bajaj Finserv, Tech Mahindra, LTIMindtree, Bajaj Holdings, Shriram Finance, Trent, Indian Hotels Company, ACC among companies to report their Q4 earnings today.

SEE ALSO:
Maruti Suzuki Q4 net profit zooms 43% to ₹2,624 crore beating expectations, to add capacity of 1 million vehicles

NBFC giant Bajaj Finance reports 30% jump in Q4 net profit to ₹3,158 crore; books record new loans in FY23

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