After opening the day on a positive note, Indian share markets extended gains as the session progressed and ended on a firm note.

Benchmark indices climbed as investor sentiment was boosted by foreign investors turning net buyers of domestic shares, following their longest selling streak in the past six months.

Foreign institutional investors (FIIs) snapped their seventeen-day sales run, purchasing Rs 2.1 billion (bn) worth of equities on a net basis on Tuesday.

At the closing bell, the BSE Sensex stood lower by 390 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 112 points (up 0.6%).

Hindalco, Tata Steel, and L&T were among the top gainers today.

Tata Motors, HDFC Life, and Adani Enterprise on the other hand were among the top losers today.

The SGX Nifty was trading at 18,222, up by 146 points, at the time of writing.

Broader markets settled on a negative note. The BSE Midcap ended 0.5% higher, while the BSE SmallCap index ended 0.2% higher.

Sectoral indices ended on a mixed note with stocks in the power sector and realty sector witnessing heavy selling pressure.

While stocks in the metal sector, telecom sector, and finance sector witnessed buying.

Shares of L&T, IDFC, and Swan Energy hit their 52-week highs today.

Asian share markets ended the day on a positive note.

The Hang Seng ended higher by 0.5%, while the Shanghai Composite index ended flat. The Nikkei edged 2.5% higher.

US stock futures are trading on a positive note. Dow futures are trading flat while Nasdaq futures are trading high by 0.1%.

The rupee is trading at 81.3 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 56,380 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.4% at Rs 69,475 per kg.
 

Central Bank of India Q3 result

In news from the banking sector, shares of the Central Bank of India were among the top buzzing stocks today.

Central Bank of India reported a 64% YoY jump in net profit for the December 2022 quarter on the back of strong growth in net interest income and other income.

Net interest income rose 20% YoY to Rs 32.8 bn. Other income jumped nearly 94% YoY to Rs 9.2 bn from Rs 4.7 bn.

Meanwhile, provisions and contingencies rose 35.2% from a year ago to Rs 9.9 bn versus Rs 7.4 bn.

The bank's gross non-performing assets (NPAs) fell 33% to Rs 184.9 bn at the end of the December 2022 quarter from Rs 276.1 bn in the same quarter of the previous year.

The net NPA reduced to 2.1% from 4.4% last year.

Advances for the quarter rose 15.6% to Rs 1.9 tn from a year ago.

Central Bank of India is the last remaining public sector lender under the RBI's PCA framework.

With a 5-year-average gross NPA ratio of 18.8% and 5 years net NPA ratio of 8.49%, it is among India's worst-performing banks.
 

Adani Enterprises FPO

Moving on, Adani Enterprises was also in focus today.

Billionaire Gautam Adani-led Adani Enterprise's follow-on public offer (FPO) will open for subscription on 27 January 2023 and close on 31 January 2023.

The anchor investor bidding date for the FPO has been fixed on 25 January 2023.

Riding on the meteoric rise of its stock prices in the last few years, the FPO will help Adani group company to reduce the pile of debt and fuel expansion.

The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%.

As of September 2022 quarter, the promoters owned 72.6% of Adani Enterprises, while the remaining 27.4% was with public shareholders.

Adani Enterprises is the flagship company of the Adani Group. It primarily has businesses in the natural resources, transport and logistics, and utility and strategy segments.

The stock rallied over 125% in 2022 after its inclusion in the Nifty 50 index, making it the fastest-growing stock of 2022.

OYO IPO update

Moving on to the news from the Initial public offerings (IPO) space, OYO is to refill its DRHP.

Oravel Stays, the parent company of travel-tech firm OYO, is set to refile the public listing application of its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by the middle of February.

The company had earlier indicated that the process of refiling the comprehensive document could take two to three months.

OYO's last submission to SEBI was the updated results for the first half of the financial year 2022-23.

Earlier this month, the capital markets regulator had asked the travel-tech firm to refile the draft IPO papers with certain updates under sections, including Risk Factors, KPIs, Outstanding Litigations, and Basis for Offer.

The company had filed preliminary documents with SEBI in September 2021 for Rs 84.3 bn IPO. The offer consists of a fresh issue of Rs 70 bn and an offer-for-sale of as much as Rs 14.3 bn.
 

Deep Industries to consider stock split

Moving on to news from the energy sector, Deep Industries shares gained 2% today.

The rally was seen post the company's announcement of the board to consider the sub-division of equity shares.

A meeting of the board of directors is scheduled on 6 February 2023 for the approval of the same.

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