SEBI Suspends Bharat Global Developers for Financial Misrepresentation
Opening Movers: Benchmark indices open flat; capital goods and realty indices outperform the sectoral indices
Last Updated: 13th December 2022 - 02:33 am
On Wednesday, the benchmark indices opened flat tracking global peers that were subdued. US stocks ended sharply lower in the previous trading session as a profit warning by Walmart weighed on the retail shares and lower consumer confidence data also added to the fears about spending.
On the domestic front, at the open, the Sensex was down 6.79 points or 0.01% at 55261.70, and the Nifty was down 7.90 points or 0.05% at 16475.90. HDFC Life, Maruti Suzuki, L&T, ONGC and Tech Mahindra were among the major gainers on the Nifty, while losers were UPL, Bharti Airtel, Kotak Mahindra Bank, Hero MotoCorp and HUL. From the Sensex pack, the top stocks were L&T, Asian Paints, Powergrid Corporation of India, Maruti Suzuki and HCL Technologies.
Meanwhile, the broader markets were seen with a muted performance. On the sectoral front, the indices were seen trading flatly with capital goods and realty indices trading decently higher.
Bajaj Finance, Maruti Suzuki, Tata Motors, United Breweries, Colgate India, Schaeffler India, Biocon, Gujarat Fluorochemicals, CG Power, Coromandel International, Laurus Labs, APL Apollo Tubes, Dixon Technologies, SKF India, Blue Dart Express, and IIFL Finance will report their June quarter results (Q1FY23). Hence, these stocks will be on investors’ radar. Telecom stocks are likely to be in focus as on the initial day of India’s 5G spectrum auction, the government saw an inflow of Rs 1.45 lakh crore bids after four rounds. The three private telecom companies, namely, Reliance Industries, Bharti Airtel, and Vodafone Idea bid for mid to high-band airwaves.
Meanwhile, Metropolis Healthcare is looking to raise at least $500 million to finance acquisitions in the healthcare and diagnostics lab space and the Adani Group announced that it will invest $70 billion in green energy transition and infrastructure projects. Other than the above-mentioned stocks, the shares of Asian Paints, Bajaj Auto, KPIT Technologies, L&T, Tata Power, United Spirits and Union Bank of India are likely to be eyed as the companies have reported their Q1FY23 results before the market opening today.
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