Stock Market Live: Indices are trading flat; Best stock to buy now

Stock Market Live: Indices are trading flat; Best stock to buy now

Updated: 1 month, 17 days, 4 hours, 49 minutes, 57 seconds ago


Stock Market Live Update for Today: The Indian stock markets opened lower on Thursday and were trading marginally in the red in the morning deals despite the positive cues from the global markets. Nifty today opened at 17517.10 levels, down by 99.2 points while Sensex made a negative opening of 248.21 points at  59459.87 levels.

The global cues are positive, as Federal Reserve has raised a quarter basis points interest rate hike as widely expected. The domestic market sentiments are downbeat and Adani stocks continue to hit after the news that Citigroup’s wealth arm stopped accepting securities of the Adani group as a margin. The banking stocks are under pressure, as RBI asked all banks for details of exposure to Adani Group.

However, the downside was limited and losses got trimmed, as Commerce and Industry Minister Piyush Goyal said a number of measures such as tweaks in customs duties on certain products announced in the Union Budget for 2023-24 will help boost the country`s exports.


Stock Market Live Today 


Stock Market Live at 12.10 pm IST, the Indian stock market indices, Sensex and Nifty are trading marginally higher by 0.31 percent and 0.07 percent respectively. The Bank Nifty is down by 0.07 percent at 12.10 pm IST. The broader markets are trading higher at this moment, as Nifty midcap and smallcap indexes are trading higher by 0.27 percent and 1.24 respectively at this time.

Among the sectors, Nifty FMCG, IT, and Media are trading higher whereas Energy, Metals, and Financial Services are trading in the red. The top-gaining stocks in the Nifty 50 index are ITC, Britannia, and IndusInd Bank while the losing stocks are Adani Enterprise, UPL, and HDFC Life


Stocks in News Today


After Credit Suisse Group, now Citigroup Inc’s wealth arm stopped accepting securities of Adani group as collateral margin loans, as banks ramped up scrutiny of the Adani Group finances after allegations of fraud by the US-based Hindenburg Research. Both the Adani twins in the Nifty 50 index were top losers in the morning deal down by around 10 percent, at present both stocks are down 2-8% 

Ashok Leyland gained 3% in the morning deal as the company reported 17200 units sold in the month of January 2023, growing 23% compared to the same period last year, with healthy growth across segments. The share price of Ashok Leyland is currently trading higher by 3.69% at Rs 153

Symphony will announce its Q3 earnings on 8th February. The share price gained around 3% to Rs 994 after the company said it may consider the buyback of shares at the board meeting to be held on 8 February. The share price of Symphony is currently trading at Rs 968 per share

Deepak Fertilizers and Petrochemicals Corporation have signed a supply proposal for the purchase of Natural Gas from Gujarat State Petroleum Corporation Ltd. (GSPC) for a period of three years effective from May 1, 2023. The share price of Deepak Fertiliser is trading higher by 4.92% at Rs 661 per share


Best Stocks To Buy


The best stocks to buy on the auto index after the Budget according to Prabhudas Lilladher.

ASHOK LEYLAND support 135 Target 160, 

MARUTI  support 8000 – 8300 Target 9500, 

TVS MOTORS support 950 Target: 1100, 

TATA MOTORS support 425 Target 500.


Also, read         Best Stock Market Books You Must Read-2023 

                      Stock Market Prediction Next Week (23- 27 Jan 2023)


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