Top 5 stocks of the day: Adani Enterprises, Adani Ports, SBI, Infosys and TCS were among the biggest losers on the Nifty, while gainers were Titan Company, NTPC, Larsen and Toubro, Bajaj Auto and Eicher Motors. Among sectors, except capital goods, all other sectoral indices ended in the red. The BSE midcap and smallcap index fell 1 percent each.
Sensex and NSE Nifty50
On February 13, benchmark indices fell for the second consecutive session due to selling across all sectors except capital goods.
The Sensex was down 250.86 points, or 0.41%, at 60,431.84, and the Nifty was down 85.60 points, or 0.48%, at 17,770.90 at the close. Approximately 1235 shares have advanced, 2261 shares have declined, and 160 shares have remained unchanged.
Top 5 stocks of the day: Gold drifts lower
Gold prices fell on Monday, pressured by a stronger dollar, as traders squared positions ahead of Tuesday’s release of US inflation data, which could influence the Federal Reserve’s path for interest rate hikes.
As of 0653 GMT, spot gold was down 0.1% at $1,863.38 per ounce. Gold futures in the United States rose 0.1% to $1,876.90.
Prabhudas Lilladher on City Union Bank
The brokerage house has reduced FY24/25E earnings by 8%/10%, primarily due to an increase in provision costs from 105 bps to 127 bps, as the goal is to maintain a provision coverage ratio of 50% (now 43%). The bank reported a PAT of Rs 220 crore, which was driven by lower NIM, loan growth, and asset quality.
Due to the delay in the investment cycle, the bank has become cautious and reduced its previous FY23 loan growth guidance. The target price has been reduced from Rs 220 to Rs 190. Buy rating retained as RoA of 1.5% is achievable in FY23/24/25E.
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