20th April EOD Quick Market Review with Spotlight on Stocks

  • Market Overview
  • Editors Pick

Quick Market Review: End-of-Day as of 20-Apr-2023.

Sensex and Nifty ended with minor gains after a volatile session as trading was volatile on account of weekly index options expiry on the NSE.
We witnessed a decline in a few stocks from Pharma, FMCG, and oil & gas sectors while some of the stocks from banks, financials, and auto sectors ended higher.

The domestic equity benchmarks managed to end with some gains, after a volatile session on Thursday. The Nifty managed to close above the 17,600 level after hitting the low at 17,584.35 in mid-afternoon trade.
As per provisional closing data, the barometer index, the S&P BSE Sensex , gained 64.55 points or 0.11% to 59,632.35. The Nifty 50 index added 5.70 points or 0.03% to 17,624.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.03% while the S&P BSE Small-Cap index advanced 0.10%. The market breadth was positive. On the BSE, 1,906 shares rose and 1,589 shares fell. A total of 136 shares were unchanged.

Among investors, there was a rise in cautionary approach after strong inflation readings from the UK and Euro Zone confirmed the expectations of continued rate hikes by the Bank of England and the European Central Bank going forward. To add further Hawkish remarks from Federal Reserve officials hinted to some extent that the US central bank may not pause its rate hike cycle as soon as June/September of 2023.

Index under review for today:

The Nifty Pharma index fell 1.08% to 12,488.75. The index had advanced 1.79% in the past two sessions.
Divis Laboratories (down 4.18%), Gland Pharma (NS: GLAD ) (down 3.93%), Laurus Labs (down 1.91%), Aurobindo Pharma (NS: ARBN ) (down 1.06%), and Dr. Reddys Laboratories (down 1.05%) were the top losers.
Among the other losers were Cipla (NS: CIPL ) (down 0.89%), GlaxoSmithKline Pharmaceuticals (NS: GLAX ) (down 0.87%), Sun Pharmaceuticals (NS: SUN ) Industries (down 0.79%), Natco Pharma (NS: NATP ) (down 0.73%), and Abbott India (down 0.72%).

On the other hand, Alkem Laboratories (NS: ALKE ) (up 0.51%), Pfizer (NYSE: PFE ) (up 0.37%), and Ipca Laboratories (NS: IPCA ) (up 0.16%) moved up.

Spotlight on the following stocks for today:

ICICI Securities (NS: ICCI ) tumbled 4.78%. The company's consolidated net profit declined to Rs 262.7 crore in Q4 March 2023 as compared to a net profit of Rs 340.3 crore in Q4 March 2022. Total income shed marginally to Rs 885.2 crore in Q4 March 2023 from Rs 892.3 crore in Q4 March 2022.

Emkay Global Financial Services was locked in a 20% upper circuit. The company has received in-principle approval from the Securities and Exchange Board of India, investment management department for sponsoring a mutual fund under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.

NBCC (NS: NBCC ) (India) gained 1.94%. The company has received work orders for providing comprehensive design, engineering, and Project Management Consultancy (PMC) services from Public Works Department, Puducherry. The project is worth Rs 207.92 crore.

Fortis Healthcare (NS: FOHE ) fell 0.64%. The company said that it has signed a definitive agreement with VPS group for the acquisition of its Medeor Hospital in Manesar, Gurugram, Haryana for a lump sum consideration of Rs 225 crore.
Tata Motors (NS: TAMO ) rose 1.31%. Jaguar Land Rover (JLR), the luxury vehicle maker and a wholly owned subsidiary of Tata Motors, has announced plans to invest 15 billion pounds over the next five years.

Adani Ports and Special Economic Zone gained 1.38%. The firm said its board is scheduled to meet on Saturday, 22 April 2023, to consider the first and partial buyback of certain of its debt securities, either denominated in INR or USD.

UltraTech Cement (NS: ULTC ) shed 0.63%. The company announced an increase in the capacity of its grinding unit at Patliputra, Bihar to 4.7 mtpa with the successful commissioning of its 2.2 mtpa brownfield expansion. The company's total grey cement manufacturing capacity in India now stands at 129.15 mtpa.

Tata Communications (NS: TATA ) advanced by 2.96%. The company reported a consolidated net profit of Rs 326.64 crore in Q4 March 2023 as compared to a net profit of Rs 368.67 crore in Q4 March 2022. Total income rose to Rs 4,630.45 crore in Q4 March 2023 from Rs 4,526.55 crore in Q4 March 2022.
Mastek (NS: MAST ) zoomed 11.42%. The IT company's consolidated net profit jumped 8.2% to Rs 72.6 crore on a 7.7% increase in net sales to Rs 709.2 crore in Q4 FY23 over Q3 FY23.

Disclaimer: The above article is for self-educational purposes. The analysis  was conducted by the following students: G10 for learning purposes as part of #J2K

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