Post Session: Quick Review

The trade throughout day was dull and markets ended with minor losses, as traders were cautious ahead of the Index of Industrial Production (IIP) and Consumer Price Index (CPI) data to release later in the day. Rising oil prices have been a cause of concern for the market participants. Investors also turned their attention towards Infosys and HCL Technologies’ December quarter earnings which will be scheduled to release later in day. The domestic markets failed to take any strength from positive cues from Asian peers. The U.S. inflation report for December due later in the day is expected to show further softening in prices from the previous month. Domestics markets failed to take support from Wall Street indexes and started day on negative note. Traders paid no heed towards government data showing that the country's gross direct tax collection rose 24.58 per cent to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up.

Further, markets lost some more ground and maintained weakness till end of the session with ignoring comments from Boston Federal Reserve bank leader Susan Collins that she was leaning towards a 25-basis point hike. However, in last leg of trade, indices pared some of their losses but unable to wipe out all losses as weekly F&O expiry too added fuel to the fire.

On the global front, European markets were trading higher with investors focusing on more corporate earnings from the retail sector ahead of the release of key U.S. consumer price data. Asian markets ended mostly in green, as investors were buoyed by China's reopening and optimistic towards U.S. inflation data. Back home, Calling upon investors from across the world to become partners in the progress and growth of Madhya Pradesh (MP), Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has said that Prime Minister Modi always focused on encouraging the development and economic growth in states thereby providing huge opportunities to the people in the remotest parts of India.

 The BSE Sensex ended at 59,958.03, down by 147.47 points or 0.25% after trading in a range of 59,632.32 and 60,290.35. There were 15 stocks advancing against 15 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index declined 0.24%, while Small cap index was down by 0.02%. (Provisional)

The top gaining sectoral indices on the BSE were Capital Goods up by 0.80%, Industrials up by 0.50%, IT up by 0.39%, Power up by 0.34% and Utilities was up by 0.25%, while Oil & Gas down by 1.01%, Energy down by 0.95%, Telecom down by 0.79%, Bankex down by 0.53% and PSU was down by 0.40% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Ultratech Cement up by 1.72%, Larsen & Toubro up by 1.61%, HCL Tech up by 1.55%, Maruti Suzuki up by 1.08% and Infosys up by 0.76%. On the flip side, Reliance Industries down by 1.96%, Axis Bank down by 1.58%, Tata Motors down by 1.35%, Kotak Mahindra Bank down by 1.23% and Bharti Airtel down by 1.10% were the top losers. (Provisional)

Meanwhile, the government data has showed that the country's gross direct tax collection rose 24.58 per cent to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up. After adjusting refunds, net direct tax collection stood at Rs 12.31 lakh crore, 19.55 per cent higher than the net collections for the corresponding period of last year.

The provisional figures of direct tax collections up to January 10, 2023 continue to register steady growth. The net collection is 86.68 per cent of the total budget estimates of direct taxes for the current fiscal. The Budget had estimated direct tax collection at Rs 14.20 lakh crore this fiscal.
On gross basis, collections from corporate income tax (CIT) grew 19.72 per cent, while that for personal income tax (PIT) increased 30.46 per cent. After adjusting refunds, the net growth in CIT collections is 18.33 per cent and that in PIT (including securities transaction tax) is 20.97 per cent. Refunds amounting to Rs 2.40 lakh crore have been issued between April 1, 2022, to January 10, 2023, which are 58.74 per cent higher than refunds issued during the same period last year.

The CNX Nifty ended at 17,858.20, down by 37.50 points or 0.21% after trading in a range of 17,761.65 and 17,945.80. There were 25 stocks advancing against 25 stocks declining on the index. (Provisional)

The top gainers on Nifty were SBI Life Insuran up by 1.89%, Ultratech Cement up by 1.87%, Larsen & Toubro up by 1.62%, HCL Tech. up by 1.60% and Cipla up by 1.29%. On the flip side, Divi's Lab down by 3.11%, Reliance Industries down by 2.16%, BPCL down by 2.11%, Axis Bank down by 1.50% and Tata Motors down by 1.42% were the top losers. (Provisional)

European markets were trading higher, UK’s FTSE 100 increased 48.17 points or 0.62% to 7,773.15, France’s CAC increased 54.69 points or 0.79% to 6,978.88 and Germany’s DAX was up by 79.48 points or 0.53% to 15,027.39.

Asian markets ended mostly higher on Thursday following the broadly positive cues from US markets overnight, as the markets reflected optimism about the highly anticipated US consumer price inflation report due later today. The report is expected to show a slowdown in the annual rate of consumer price growth and could have a significant impact on the outlook for interest rates. Some support also came in as Japan posted a current account surplus of 1,803.6 billion yen in November, up 16.4 percent on year. That beat expectations for a surplus of 471 billion yen following the 64.1 billion yen deficit in October. Exports were up 20.7 percent on year at 9.008 trillion yen and imports jumped an annual 33.8 percent to 10.546 trillion yen for a trade deficit of 1.537 trillion yen. Chinese market ended slightly higher after swinging between modest gains and losses in thin trading volumes ahead of the Lunar New Year holidays.