Key stock bourses logged strong gains during the week on positive global stocks, encouraging Q2 numbers and persistent buying by foreign institutional investors (FIIs). Indices gained for the fourth week in a row. Broader markets, however, underperformed the key indices. The Sensex and the Nifty, both, hit 52-week highs on Friday, 11 November 2022. Global stocks rose after a smaller-than-expected increase in US consumer prices fuelled hopes that the Federal Reserve could tone down its aggressive pace of interest rate hikes. In the week ended on Friday, 11 November 2022, the Sensex advanced 844.68 points or 1.39% to settle at 61,795.04. The Nifty 50 index gained 232.55 points or 1.28% to settle at 18,349.70. The BSE Mid-Cap index fell 0.71% to settle at 25,465.20. The BSE Small-Cap index fell 0.42% to settle at 28,985.06. The Sensex and Nifty hit a 52-week high of 61,840.97 and 18,362.30, respectively, on Friday, 11 November 2022. Weekly Index Movement:

The equity benchmark indices rose for the second session in a row on Monday, supported by strength in banks, metal and auto shares. The barometer index, the S&P BSE Sensex, gained 234.79 or 0.39% points to 61,185.15. The Nifty 50 index rose 85.65 points or 0.47% to 18,202.80.

The domestic stock market remained shut on Tuesday, 8 November 2022, on account of Gurunanak Jayanti.

Domestic shares ended lower on Wednesday, due to fag-end selling in absence of any major trigger. Negative global cues also triggered selling. The barometer index, the S&P BSE Sensex, declined 151.60 points or 0.25% to 61,033.55. The Nifty 50 index shed 45.80 points or 0.25% to 18,157.

The domestic equity market tumbled on Thursday, tracking weak global peers. The S&P BSE Sensex, was down 419.85 points or 0.69% to 60,613.70. The Nifty 50 index lost 128.80 points or 0.71% to 18,028.20.

The headline equity indices ended with stellar gains on Friday, mirroring strong global cues. The barometer index, the S&P BSE Sensex, surged 1,181.34 points or 1.95% to 61,795.04. The Nifty 50 index gained 321.50 points or 1.78% to 18,349.70.

Stocks in Spotlight:

State Bank of India (SBI) rose 1.24%. The PSU bank major reported 73.93% jump in standalone net profit to Rs 13,264.52 crore on a 14.22% rise in total income to Rs 88,733.86 crore in Q2 FY23 over Q2 FY22. Net Interest Income (NII) increased by 12.83% YoY to Rs 35,183 crore during the quarter. Net Interest Margin (domestic) was at 3.55% in Q2 FY23 as against 3.50% in Q2 FY22.

Titan Company lost 4.19%. The Tata Group company's consolidated net profit surged 33.7% to Rs 857 crore on 17.53% rise in revenue from operations to Rs 8,134 crore in Q2 FY23 over Q2 FY22. Total income for the quarter was Rs 8,308 crore, registering a growth of 18.21% as compared to Rs 7,028 crore of Q2 FY22 (excluding bullion sale).

Power Grid Corporation of India dropped 5.35%. On consolidated basis, Power Grid Corporation of India's net profit rose 8.1% to Rs 3,650.16 crore on 8.6% increase in revenue from operations to Rs 11,150.57 crore in Q2 FY23 over Q2 FY22.

Coal India gained 2.95%. The company's consolidated net profit zoomed to Rs 6,043.99 crore in Q2 FY23 from Rs 2,932.73 crore in Q2 FY22. Net sales during the quarter increased by 29% YoY to Rs 27,538.59 crore. Average price realization in the second quarter was Rs 1,781.31 per ton as against Rs 1,447.98 per ton in the same period last year, registering a growth of 23% on YoY basis.

Mahindra & Mahindra (M&M) declined 3.81%. The vehicle manufacturer's standalone net profit surged 45.8% to Rs 2,089.92 crore on 56.52% jump in revenue from operations to Rs 20,839.27 crore in Q2 FY23 over Q2 FY22. M&M sold 1,74,098 vehicles in Q2 FY23, recording a growth of 75% as against 99,334 vehicles sold in the same quarter a year ago. Total tractors sold in Q2 FY23 stood at 92,590 units, rising 5% year on year.

Lupin rallied 5.02%. The company reported a consolidated net profit of Rs 129.7 crore in Q2 FY23 as against a net loss of Rs 2,098 crore recorded in Q2 FY22. Sales rose by 2.2% YoY to Rs 4,091.2 crore during the quarter. While Total Formulations revenue rose by 2.8% to Rs 3,841.3 crore, API revenue declined by 6.7% to Rs 249.9 crore in Q2 FY23.

Auto sales up 48% YoY in Oct: FADA: Markets:

On YoY basis, total vehicle retail for the month of October 2022 saw a growth of 48%, the Federation of Automobile Dealers Associations (FADA) said in its release on 7 November 2022. All the categories closed in green. 2W, 3W, PV, Trac and CV were up by 51%, 66%, 41%, 17% and 25% respectively.

Global Markets:

China's producer price index fell 1.3% in October on an annualized basis after rising 0.9% in September. China's consumer price index rose 2.1% in October compared to a year ago, easing after climbing 2.8% in September.

US CPI inflation print was cooler than expected 7.7% in October, triggering a rally in global equity markets. The latest number led to the conclusion that inflation in the US market has peaked, and the US Fed may pause the aggressive stance on the rate hikes soon.

The US central bank has delivered four consecutive rises of 0.75% points this year in an attempt to slow price growth. Markets now expect a smaller 0.5% point rise at the Fed's meeting in December.