Another indecisive week for the markets. It has been a complete roller coaster ride 😓
The week started with heavy selling, but Nifty and Sensex recovered and closed with 0.44% and 0.65% gains, respectively. Midcaps (-0.76%) and Smallcaps (-0.99%) ended slightly lower.
Most sectors closed lower. Media (-4.28%) and PSU Banks (-2.06%) were the major losers. IT (1.92%) bucked the overall market weakness. 💪
Top stories of the week:
Adani Enterprise fixed the floor price for their Rs 20,000 cr FPO at Rs 3,112 per share, down -7% this week. 👎 Know more 💰
Samvardhan Motherson was in focus after +10 cr shares (1.6% equity) changed hands in a block deal. Reports indicate that Japan-based Sojitz Corporation is the seller. 🤝
Sun Pharma Advanced Research Company (SPARC) rallied +5% intraday after Rekha Jhunjhunwala bought a 2% stake. 💯
Maruti Suzuki will increase car prices to offset higher raw material costs. 🚘
Results reaction. Just Dial was locked in a 10% upper circuit. Federal Bank hit a new all-time high. ✅
Relaxo Footwear hit a new 52-week low after Saurabh Mukherjea led Marcellus Investment Managers exited the stock from their “Rising Giants” portfolio. 🤕
SAIL hit a 9-month high. Domestic Brokerage firm Equirius sees a +50% upside from current levels! 🚀
Dr. Lal Path Labs hit a 6-month low. Kotak Institutional Equities sees a 20% downside from current levels. 🚨
Vedanta will sell its international Zinc operations for $3 billion to Hindustan Zinc. 💰
Markets to shift to T+1 settlement📝
Big changes are coming to the Indian Stock market that is going to revolutionise the settlement cycle. On the 26th of January 2023, India will be celebrating its 73rd National Republic Day this year and a day after Republic Day it is scheduled to launch the T+1 settlement cycle for both NSE and BSE.
Ahead of big markets such as the US and Europe which are yet to do so, the Indian equity market will completely shift to a shorter trading cycle called, T+1 settlement on January 27, 2023
The new T+1 settlement system will benefit traders in more ways than one!
What’s new on Stocktwits
As the earning season is back in action, our team has created a new tool that awaits your return.
Introducing Stocktwits Earnings Calendar, with all the NSE companies that you love 🇮🇳🫶🏽
Track when Indian companies such as Reliance, Adani, Tata and ITC will report quarterly and annual financial results. Check the upcoming dates for Q3 earnings reporting.
We’ll be bringing this to our Android and iOS apps; currently, this is only available on desktops.
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Top content for the week 🔥
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