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SGX Nifty Trades Flat | Kotle Patil Q3 Results | Why FIIs are Selling | Top Buzzing Stocks Today
Mon, 16 Jan Pre-Open

SGX Nifty Trades Flat | Kotle Patil Q3 Results | Why FIIs are Selling | Top Buzzing Stocks Today

On Friday, Indian share markets staged a smart recovery as the session progressed and ended on a firm note.

Benchmark indices ended in green on Friday after 3 straight days of loss on the back of encouraging US inflation data.

At the closing bell on Friday, the BSE Sensex stood higher by 303 points. From the day's low, Sensex rose as much as 700 points.

Meanwhile, the NSE Nifty closed higher by 98 points (down 0.1%).

Tata Steel, IndusInd Bank, and Infosys were among the top gainers today.

Titan, Nestle India, L&T on the other hand, were among the top losers today.

Broader markets settled on a positive note. The BSE Midcap inched 0.1% higher while the BSE SmallCap index ended higher by 0.2%.

Sectoral indices ended on a positive note with the exception of healthcare sector, and consumer durable sector.

Stocks in the banking sector, metal sector and IT sector witnessing most of the buying.

Shares of Jindal Steel and Power, and PNB Housing Finance hit their 52-week highs today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 81.36 against the US$.

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Gold prices for the latest contract on MCX were trading higher by 0.5% at Rs 56,140 per 10 grams at the time of Indian market closing hours on Friday.

At 7:30 AM today, the SGX Nifty was trading up by 25 points or 0.1% higher at 18,060 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of stock markets, the Indian stock market has been extremely volatile after scaling a new all-time high, late last year.

However, individual stocks have been resilient. In fact, some stocks look positive on the charts.

In the below video, Chartist Brijesh Bhatia covers 3 such stocks - TCS, Tech Mahindra, and Tata motors. He shows what are the reasons to be bullish on them.

Top Buzzing Stocks Today

Nykaa share price will be in focus today.

According to Bloomberg, around 1.1 million (m) shares of Nykaa were traded in bulk deals on Friday. However, information about the names of those who sold and bought these shares is yet to come.

Earlier on Thursday too, a big deal was witnessed in Nykaa's shares and during this period 1.42 crore shares of the company were bought and sold.

Kolte-Patil Developers will also be in focus.

On Friday the company declared its Q3 results. The Pune-based company reported the highest-ever quarterly pre-sales numbers both by value and volume in the third quarter of financial year 2022-23.

It reported quarterly pre-sales of Rs 7.2 m (about Rs 716 crore), marking a growth of 95% QoQ and 28% YoY. This growth has been achieved on the back of firm realisations and highest ever quarterly sales volumes which improved 102% QoQ and 31% YoY.

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Surge in number of demat accounts

Demat accounts saw a surge in popularity in December 2022, led by attractive returns from the equity markets, ease of account opening process and increased financial savings. The incremental account additions of such accounts were higher in December in comparison with the preceding three months.

The number of demat accounts rose to 108 m last month - a surge of 34% on yearly basis. The incremental additions stood at 21 lakh in December 2022, compared to 18 lakh each in October and November and 20 lakh in September.

There were also a lesser number of initial public offerings (IPOs) hitting markets in 2022 compared to the previous year. However as 2023 begins many companies are coming up.

But while the number of demat accounts in the country continues to rise - albeit at a slower pace - the count of NSE active clients has declined for six consecutive months. The active user clients in the industry as a whole rose 12% year-on-year basis, but fell 1% month-on-month to 350 m in December 2022.

FIIs are running away from Indian markets again

Foreign institutional investors (FIIs) continued to sell in Indian equities for 16 days in a row to the tune of over Rs 238 bn. So far in January, the selling is over Rs 174 bn in equities.

As per NSDL data, foreign portfolio investors (FPIs) outflow has also crossed over Rs 150 bn mark in domestic equities. The selling bias from foreign investors is likely to continue going forward.

An important trend in the market this month is the sustained selling by FIIs. FIIs sold for the 16th straight trading session taking the total sell figure to Rs 238.9 bn.

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On Friday, FIIs sold around Rs 24.2 bn in Indian stocks. While they made their biggest selling so far in the current month on 11 January where the outflow stood at Rs 32.1 bn. Overall, in the week, the outflow aggregated to Rs 96.1 bn in Indian equities.

Beginning in 2023, we are already observing some correction to the Indian equity market's notable outperformance in the prior year.

The last time FIIs were net buyers was on 22 December 22 of last year. They have been net sellers from December 23, 2022, to date.

FIIs are selling in India and moving money to cheaper markets like China, Hong Kong, and South Korea where valuations are much lower. In 2022 FIIs were selling in China. This trend has changed to long China and short India.

Since FII trading activities interest you, check out our editorial on: FIIs are Bullish on these 5 Smallcap Stocks. Here's Why...

Why Anand Rathi share price is rising

The wealth solutions provider clocked a massive 35% year-on-year growth in consolidated profit after tax for the quarter at Rs 432 m, led by healthy top line as well as operating performance.

Consolidated revenue from operations for the quarter at Rs 1,380 bn grew by 31%, with assets under management increasing 20% YoY to Rs 385.2 bn.

On the operating front, Anand Rathi Wealth clocked 39% on year growth in earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs 617 m, while margin expanded by 265 basis points YoY to 44.7% in the quarter.

The performance for nine months ended December 2022 was also healthy as profit after tax grew by 37% to Rs 1,259 m compared to corresponding period last financial year.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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