However, healthy buying in the broader market kept overall market breadth in the favour of the buyers

MARKET: Sensex 240 pts off lows lifted by HDFC, TCS; broader indices outrun

<div>
	<strong>Stock market updates</strong>: Benchmark indices started the week on a choppy note as the S&P BSE Sensex gyrated 370 points in the intra-day trade before settling 127 points, or 0.22 per cent, lower at 58,178 levels.<br />
	<br />
	Kotak Bank (up 1.7 per cent), Tata Steel, TCS, and Bajaj Finserv were the top gainers on the 30-share pack while Reliance Industries (down 2.2 per cent), ICICI Bank, HUL, HDFC Bank, and M&M ended as the top laggards.</div>
<br>
<div>
	It&#39;s NSE counterpart, meanwhile, closed at 17,355 levels, down 14 points or 0.08 per cent. Sectorally, the Nifty Metal index settled over 1 per cent higher while the Nifty Private Bank index slipped 0.5 per cent.</div>
<br>
<div>
	However, healthy buying in the broader market kept overall market breadth in the favour of the buyers. The BSE MidCap and SmallCap indices closed 0.3 per cent and 0.8 per cent higher, respectively, resulting in a advance-decline ratio of 1.1:1&nbsp;</div>

Sensex gyrates 370 pts, ends 127 pts down; Nifty holds 17,350; RIL dips 2%

Business Standard

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Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

&amp;nbsp;

After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

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In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
						&amp;nbsp;

Brazil elections

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In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

MARKET CLOSING COMMENT :: Deepak Jasani, head of retail research, HDFC Securities

<div>
	Nifty closed mildly down in a narrow band of closings over the past four days on the first day of the trading week on Sept 13. Nifty opened flat and sold out in the first hour of trade. After making an intra day low at 1005 Hrs, it started to rise gradually. At close, Nifty was down 14 points or 0.08% at 17355.</div>
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	&nbsp;</div>
<div>
	On a day when the volumes on the NSE continued to be lower than recent averages, Metals, Utilities and Realty indices gained the most while Energy, Consumer Durables and Bank indices fell the most. Small and midcap indices ended in the positive<br />
	<br />
	Nifty continues to close in a narrow band of 17353-17378 over the past 5 sessions. This reflects lack of enthusiasm on the part of sellers to sell aggressively while buyers keep nibbling at individual stocks. Advance decline ratio continues to be positive. 17254-17437 is the band for the near term for the Nifty.</div>

MARKET STRATEGY :: Shrikant Chouhan, Executive VP, Equity Technical Research, Kotak Securities

<div>
	Markets witnessed profit-taking in select frontline stocks as weakness in other Asian markets weighed on Indian gauges. Benchmark Nifty moved in a range of 100 points and took support near 17270 after falling sharply in early trades. Over the last four days, the index has been hovering between 17250 to 17435 levels. At the same time, the Nifty is consistently taking support at 17250. As long as the index is trading above 17250, the bullish formation is likely to continue up to 17450 -17500 levels. However, trading below the same could possibly trigger correction up to 17200-17150 levels.</div>

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The short term trend of Nifty continued with range bound action, but the overall market breadth has placed at the positive side. The Nifty is expected to form a higher bottom reversal around 17250 levels (near the support of 10 day EMA) in the next 1-2 sessions before witnessing another round of upside bounce. Immediate resistance to be watched at 17450 levels.

TECH VIEW :: Fresh buying only can only happen above 17,500 zone

The Nifty index showed some sell-off in the beginning but a smart recovery has been seen from good support zone.<br />
<br />
It managed to close at 17,351 &amp; formed a Doji candle pattern on daily chart.<br />
<br />
Good support zone for the index is coming near 17,300-17,250 zone. If it manages to hold above-said levels, we may see next move towards 17,430-17,500 zone. Fresh buying only can happen above 17,500 zone<br />
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<em>Views by:&nbsp;Rohit Singre, Senior Technical Analyst at LKP Securities.</em>

TRADING STRATEGY :: Markets are still expected to consolidat

<div>
	<strong>Nifty </strong>has been constantly consolidating in a range, <strong>17,250 is immediate support</strong> to Nifty followed by 17,210-17,175. <strong>Hurdle on the upside is placed at 17,370</strong> &amp; cross over can take nifty to 17,435-17,475 levels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Bank Nifty</strong> which is underperforming the market is also traveling in a range, strong <strong>support is placed at 36,150</strong> followed by 36,000-35,900 levels &amp; similarly on upside <strong>hurdle for bank nifty is placed at 36,700 </strong>and crossover will take to next resistance level which is placed at 37,000 levels for Bank Nifty.</div>
<div>
	&nbsp;</div>
<div>
	Markets are still expected to consolidate. We are still bullish on Mid &amp; Small caps as this week many companies have come out of the Trade-to-Trade category and we expect them to be out of the ASM list with the next 3 weeks.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Sectors to Focus</strong> &ndash; Specialty Chemicals, Textiles, Metals &amp; Banks<br />
	<br />
	<em>Views by:&nbsp;Rahul Sharma, Co-Founder, Equity99</em></div>

MARKET RECAP ::  S Ranganathan, Head of Research at LKP Securities

Indices remained rangebound in trade today after a stellar run in Index stocks during the past few weeks making India one of the best-performing markets globally last month. Action however was seen in select Small &amp; Midcap names as consolidation in several sectors have benefited select companies who have used the Pandemic to gain share. Market Participants were however picking their spaces as valuations are pricey with several stocks trading at 3.5x price to book

MARKET RECAP :: Vinod Nair, Head of Research at Geojit Financial Services.

<div>
	Indian indices extended its early losses in a volatile session, ahead of the release of domestic inflation data. Despite hopeful signs, the global markets failed to inspire Asian markets. The European Central Bank in its policy meeting last week raised its growth and inflation projections for the year owing to quicker economic recovery thereby moderately reducing the pace of its pandemic-era bond-buying programme. Domestic retail inflation is expected to remain high in line with the July inflation rate of 5.59%.</div>

India VIX ends 0.5 per cent higher at 14.03 level

BSE Snapshot :: 255 scrips hit 52-week high in a subdued market

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Sector of the day :: Nifty Bank dips 0.5%

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Sector of the day :: IT stocks shine; Mindtree surges 5%, Mphasis 2%

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Sector of the day :: Gains in metal stocks help Nifty50 end flat

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Broader market :: BSE SmallCap index outperforms benchmarks

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Broader market :: BSE MidCap index recoups losses, ends mildly above flat line

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Sector Check :: Nifty Metal climbs over 1%, pvt banks under pressure

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<strong>Top gainers</strong>: Kotak Bank, Tata Steel, TCS<br />
<br />
<strong>Top losers</strong>: RIL, ICICI Bank, HUL<br />
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https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/16315277773924.jpg

<div>
	The S&amp;P BSE Sensex gyrated 370 points in the intra-day trade before settling 127 points, or 0.22 per cent, lower at 58,178 levels.</div>
<div>
	&nbsp;</div>
<div>
	It&#39;s NSE counterpart, meanwhile, closed at 17,355 levels, down 14 points or 0.08 per cent.</div>

NEWS ALERT :: Suryoday SFB clarifies on Clix Capital merger report

&gt;&gt; The management of the Bank continues to explore and evaluate various opporlunities or associations in the interest of the Bank, as and when considered appropriate, which is always a subject matter of fuither feasibility studies and the need for requisite consents in accordance to applicable law and other stakeholders<br />
<br />
&gt;&gt; At present, there is no such decision taken by the Board or any of its Committees, which calls for dissemination of information or disclosure of event in terms of regulation 30 of the Listing Regulations. Accordingly, we would be unable to comment upon the said News Article.

Liquidity no longer a major concern, FM Sitharaman assures India Inc

The move is likely to give impetus to economic recovery during the festive season and also ensure availability of credit for sectors like export. The credit outreach programme is likely to be similar to the credit outreach programme launched in 2019, through which banks held loan melas across 400 districts and reportedly disbursed around Rs 4.9 trillion. <a href="https://www.business-standard.com/article/economy-policy/liquidity-no-longer-a-major-concern-fm-sitharaman-assures-india-inc-121091300716_1.html?1631526081" target="_blank"><strong>READ MORE</strong></a>

Vedanta Resources reduces net debt by $300 mn in first half of FY'22

<div>
	Vedanta Resources Ltd (VRL) on Monday announced that the company has reduced its net debt by USD 300 million in the first half of this fiscal and expects to further reduce its debt by USD 500 million in the second half of FY&#39;22.</div>
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	&nbsp;</div>
<div>
	With the entire debt repayment at Volcan, the pledge on all the equity shares of VRL has been released, the company said in a statement <a href="https://www.business-standard.com/article/companies/vedanta-resources-reduces-net-debt-by-300-mn-in-first-half-of-fy-22-121091300695_1.html?1631525684" target="_blank"><strong>READ MORE</strong></a><br />
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Sensex gyrates 370 pts, ends 127 pts down; Nifty holds 17,350; RIL dips 2%

However, healthy buying in the broader market kept overall market breadth in the favour of the buyers

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