Markets ended Tuesday on a subdued note, with benchmark indices eking out marginal gains amidst a volatile trading session. However, blue chip stocks managed to nudge the market sentiment in a slightly upward direction, thanks to some heavyweight players like HDFC Bank, TCS, Reliance and Maruti Suzuki.
The BSE Sensex witnessed a rise of 165 points or 0.22 per cent, ending the day at 73,667, while the NSE Nifty closed at 22,335 points, marking a slight increase of 3 points or 0.014 per cent from the previous session. Despite marginal gains in the indices, the mid-cap and small-cap segments remained in the negative territory, continuing their downward trajectory.
"Market remained volatile as the US & India inflation data took center stage. Pain is likely to continue in the broader market amid stretched valuation and red flags from SEBI. Also, the mandatory disclosure format for mutual funds shared by SEBI to look at the stress situation in the funds will be out by March 15. This is also adding to the ongoing concerns. Thus, volatility in midcap and smallcap could keep the benchmark indices in check," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Meanwhile, February's consumer price index (CPI)-based inflation dropped to 5.09 per cent, as compared to January's 5.1 per cent. The figure remains above RBI's 4 per cent target.
Here Are The Key Stocks To Watch On 13 March:
ITC- ITC's shares will be in focus on Wednesday as British American Tobacco has initiated a block deal to divest a 3.5 per cent equity stake in the company to institutional investors, with an expected value of up to Rs 16,775 crore. As per reports from CNBC Awaaz, the British cigarette maker's India unit is planning to sell around 43.69 crore ITC shares.
Reliance- Shares of the Ambani-led group surged to the top gainers' list on Tuesday. The mega-merger involving RIL-owned Viacom18 and Walt Disney's local arm, Star India, coupled with JIO reaching a 52-week high, can act as a positive catalyst for investor confidence in the large-cap company.
SBI- The banking firm's shares continue to remain in the red territory owing to the electoral bond case. Following the Supreme Court's directive, SBI provided the Election Commission (EC) of India with electoral bond details on March 12, This comes after the apex court dismissed SBI's plea for an extension for the disclosure of details.
Vedanta- The market watchdog has taken action against Vedanta regarding the issue of unpaid dividends to Cairn UK Holdings Limited (now known as Capricorn UK Holdings Limited) by Cairn India Limited (now known as Vedanta Limited). As per the exchange filing, the company is currently working on taking the necessary legal measures in response to this matter.
Vi- Vodafone Idea has surrendered some part of its spectrum in the 900 and 1800 MHz bands, set for renewal in 2024. As per a report by PTI, the exact amount of spectrum given up isn't confirmed. This move comes at a time when the telecom company is burdened with financial issues.
