The market capitalisation (mcap) of HDFC Bank advanced Rs 23,900.84 crore to Rs 9,25,188.45 crore and that of Bharti Airtel climbed Rs 10,432.23 crore to Rs 4,42,015.45 crore.The valuation of Hindustan Unilever went up by Rs 7,988.61 crore to Rs 6,21,678.35 crore and that of HDFC gained Rs 6,503.28 crore to Rs 4,92,313.07 crore.

Data suggests that from the past four trading sessions prices are taking support near 200 DMA, which is placed at 17,550 levels on the daily scale. For the bulls to regain control Nifty50 must reclaim 18,888 levels, suggest experts.

Chaman Metallics Ltd., Manaksia Ltd, Apar Industries, Upsurge Seeds of Agriculture Ltd. and Ascom Leasing & Inve, hit their fresh 52-week highs during the day.

The NSE Nifty index closed 45.85 points down at 17616.3

Adani Ent., Adani Ports SEZ, HDFC Life, SBI Life and Bajaj Finserv were among the top losers on NSE in today's trade.

From the Sensex pack, ICICI Bank and Tata steel were the top gainers, rising over 2%. ITC, HDFC Bank, L&T, TCS, HDFC and Kotak Bank closed with gains

Had it not been for Adani Enterprises and Adani Ports, both of which are part of Nifty and not Sensex, weighing down the 50-share barometer, the index too would have ended on a positive note. Adani Enterprises, which ended 26.7% lower on NSE, contributed 49 points to the index's downfall. On the other hand, Adani Ports which ended 17.7% lower contributed another 18.6 points.

The Nifty Bank index surged 3% to 41865.75. Shares of Axis Bank, Bandhan Bank, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, and ICICI Bank rose between 1-4% each.

Dalal Street investors were left richer by Rs 2.24 lakh crore as the market capitalisation of all BSE-listed companies rose to Rs 272.47 lakh crore.

Adani Ent., Adani Ports SEZ, Sun Pharma, UPL and L&T were among the top losers on NSE.

The NSE Nifty index was trading 164.4 points up at 17826.55

The NSE Nifty index was trading 150.8 points up at 17812.95

From the Sensex pack, SBI, M&M, UltraTech Cement and Power Grid Corp were the top gainers

January has been a pretty bad month for India from the index standpoint and also from FIIs flows. The whole banking sector leadership which was there and driving the markets till December has taken a little bit of knock in Jan.

https://front.page/chartbusters/25516097/ Part 2

The market capitalisation of all listed stocks on BSE has reduced to Rs 266.6 lakh crore in three sessions with the Sensex having lost over 2,200 points during the period as the selling pressure on Adani stocks had a domino effect on the rest of the stock market.

Fir banks, there is a strong growth happening in CASA. So, we know where money is being put in. But the saver is clear that if it is longer term money, he will save through other sources and that is why the mutual fund industry is growing at a faster pace than banks.

“On Friday, we saw a fair bit of selloff in a lot of consumer discretionary names as well as some of the names across telecoms and other sectors. I would think that this is a good time to buy into some of these names for investors wanting to play the Budget or probably look at slightly more medium term beyond the Budget.”

"I am a Nifty Bank option seller but whenever I find momentum in Nifty, I buy Nifty futures. The strategy there is to hold for 2 months. Sometimes if the market is trending, you may not get anything by selling options. Then you have to sell in the money option or buy options with the right position sizing. Mostly, in a mild market, non-directional option selling works. But if the market is trending, then I am ready to go in futures or option buying as well."

“Friday was a good day and over the next few days, any investor with a time horizon of one year and above can go and buy into these stocks because these companies are doing well and will continue to do well. The banks clearly stand out in that sense because they are down pretty sharply today. "

"The market seems to be looking at some adverse scenarios of banks' exposure to the Adani Group especially when their share prices are falling," said Siddarth Bhamre, head of research Religare Broking. "That is weighing down the risk appetite for bank shares."

The NSE Nifty index closed 287.6 points down at 17604.35

The NSE Nifty index closed 287.6 points down at 17604.35

“The trend is firmly down and the nearest important level for me is 17,428 on the Nifty spot. So, if the market sprints to 17,428 not even a close just a print, it will confirm and extinguish all remaining hopes for the bulls that the market is headed for below the June 2022 low.”

“One can have an asset allocation attitude but I do not see outside its risks in equities just now and also sentiment is a contra-indicator. When there is uncertainty, when people think things are going wrong, the next period returns are above average. One just compounds bad decisions by going with the flow and how everybody is feeling.”

The 30-share index was trading 535 points or 0.89% lower at 59,669 at around 9.20 AM. Similarly, Nifty50 was trading at 17,769, down 122 points or 0.68%.

“Nifty seems to have given a fresh breakdown. The 17,761-17,774 band is the immediate support for Nifty below which the downtrend could accelerate. On up moves, 18,145 could prove to be a resistance,” says Deepak Jasani, Retail Research Head- HDFC Securities

Banks have benefited largely due to a quick rate transmission under the external benchmark regime and will lose out on net interest margin (NIM) growth in the coming quarters as they are forced to increase deposit rates to fund credit growth here on

KR Choksey is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 1175 in its research report dated January 24, 2023.

The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.

India VIX was down by 0.28% from 14.08 to 13.40 levels on Tuesday. Volatility has been hovering at lower levels from the last nine weeks and supporting the bulls to hold the overall command.

Motilal Oswal is bullish on ICICI Bank recommended buy rating on the stock with a target price of Rs 1150 in its research report dated January 22, 2023.

ICICI Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 609757.04 Crore).

​So overall I am positive on the banking sector in 2023. This is the start of an up cycle which could last this year before we start to see the NPA shoot back again into the bank books. However, for this year I feel the loan growth can be very strong and the banks where the deposit growth has been exceptional those are the banks that you need to really concentrate on.