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Share Market Highlights: Sensex ends 530 points lower, Nifty at 14,238; HCL Tech, Infosys, RIL top losers

January 25,2021 17:15 IST

Sensex, Nifty Highlights on January 25: In a volatile trading session, equity indices closed 1% lower on Monday's session, amid profit booking in major global markets after the recent rally to record highs. Falling for the third straight session, Sensex ended 530 points lower at 48,347 and Nifty fell by 133 points to 14,238. Meanwhile, December quarterly earnings announcements by Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes will also set the tone for the stock market today. Airtel, UltraTech Cement, Axis Bank, L&T were among the top gainers while M&M, Maruti, NTPC, ITC traded as the top losers today. Last Friday, Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371.

 

Here's a look at the updates of the market action on BSE and NSE today

 

 

 

Check Latest Updates

  • India Stock Market News Updates Today: Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes are among the top companies that will be reporting their Q3 earnings
  • Jan 25, 2021 16:00 (IST)

    Nifty Tech View

    Rohit Singre, Senior Technical Analyst at LKP Securities said,"One more volatile session ended on a negative note as nifty closed a day at 14239 with loss of nearly one per cent and formed three black crows candle pattern which is bearish in nature. The index has breached all good support which hints if index managed to sustain below today's low then index may hit 14k mark soon which is strong support on the downside, on the higher side now index has good resistance near 14350-14440 zone again that would be profit booking levels for longs."

  • 16:00 IST: Rohit Singre, Senior Technical Analyst at LKP Securities said,"One more volatile session ended on a negative note as nifty closed a day at 14239 with loss of nearly one per cent and formed three black crows candle pattern which is bearish in nature. The index has breached all good support which hints if index managed to sustain below today's low then index may hit 14k mark soon which is strong support on the downside, on the higher side now index has good resistance near 14350-14440 zone again that would be profit booking levels for longs."

  • Jan 25, 2021 15:52 (IST)

    Market closing session

    In a volatile trading session, equity benchmarkindices closed 1% lower on Monday's session, amid profit booking in major global markets after the recent rally to record highs. Falling for the third straight session, Sensex ended 530 points lower at 48,347 and Nifty fell by 133 points to 14,238.

  • 15:52 IST: In a volatile trading session, equity benchmarkindices closed 1% lower on Monday's session, amid profit booking in major global markets after the recent rally to record highs. Falling for the third straight session, Sensex ended 530 points lower at 48,347 and Nifty fell by 133 points to 14,238.

  • Jan 25, 2021 15:51 (IST)

    Market closing outlook

    S Ranganathan, Head of Research at LKP Securities said,"A volatile session of trade today which saw selling in heavyweights despite strength seen in pockets like 2 Wheelers & Pharmaceuticals. Event-specific price action was seen in Paint Sector stocks while Tyre stocks succumbed to profit-booking."

     

  • 15:51 IST: S Ranganathan, Head of Research at LKP Securities said,"A volatile session of trade today which saw selling in heavyweights despite strength seen in pockets like 2 Wheelers & Pharmaceuticals. Event-specific price action was seen in Paint Sector stocks while Tyre stocks succumbed to profit-booking."

     

  • Jan 25, 2021 15:47 (IST)

    Lupin outlook

    Yash Gupta Equity Research Associate, Angel Broking said,"Lupin Limited global pharmaceutical company, announced that the company has received approval for its Sevelamer Carbonate Tablets, 800 mg, from the United States Food and Drug Administration, to market a generic equivalent of Renvele Tablets, 800 mg, of Genzyme Corporation. Sevelamer Carbonate Tablets, 800 mg, are indicated for the control of serum phosphorus in adults and children 6 years of age and older with chronic kidney disease on dialysis. Sevelamer Carbonate Tablets (RLD: Renvele) had estimated annual sales of USD 348 million in the U.S. as per IQVIA MAT September 2020.This is very good approval for Lupin limited, we expect the launch of the product will take some time. We have a positive outlook for the company."

     

  • 15:47 IST: Yash Gupta Equity Research Associate, Angel Broking said,"Lupin Limited global pharmaceutical company, announced that the company has received approval for its Sevelamer Carbonate Tablets, 800 mg, from the United States Food and Drug Administration, to market a generic equivalent of Renvele Tablets, 800 mg, of Genzyme Corporation. Sevelamer Carbonate Tablets, 800 mg, are indicated for the control of serum phosphorus in adults and children 6 years of age and older with chronic kidney disease on dialysis. Sevelamer Carbonate Tablets (RLD: Renvele) had estimated annual sales of USD 348 million in the U.S. as per IQVIA MAT September 2020.This is very good approval for Lupin limited, we expect the launch of the product will take some time. We have a positive outlook for the company."

     

  • Jan 25, 2021 15:32 (IST)

    SBI Life outlook



    JMFL India in its report today said,"In 3QFY21, SBI Life recorded APE growth of 5% YoY after two consecutive quarters of negative growth and outperformed both private peers (4%) and the industry (-9%). On unweighted basis, the insurer recorded 9% YoY growth vs 13% for private peers and (-3%) for the industry. For the 9MFY21, the insurer generated NBV of INR14.5bn, down 1.4% YoY impacted by negative operating leverage and negative economic variances. Margins for the 9MFY21 expanded both sequentially by 50bps and YoY by 100bps to 19.3% supported by higher protection and non-PAR mix. In terms of BS strengthening, the insurer added INR56.2mn to its contingent COVID19 provisions taking the total to INR703.8mn as of Dec 20."

    It further added, "Going forward, SBI Life is better placed to maintain sector leadership - largest private insurer with APE market share of 12.1% as YTDFY21, given significant brand equity, an expansive multi-channel, pan India distribution network, cost leadership and access to parent's huge client base. We expect an 18% EV CAGR over FY21-23E driven by NBV CAGR of 18% and value the insurer at 2.3x FY23E EV implying a TP of INR 1,040. Maintain BUY."

  • 15:32 IST:

    JMFL India in its report today said,"In 3QFY21, SBI Life recorded APE growth of 5% YoY after two consecutive quarters of negative growth and outperformed both private peers (4%) and the industry (-9%). On unweighted basis, the insurer recorded 9% YoY growth vs 13% for private peers and (-3%) for the industry. For the 9MFY21, the insurer generated NBV of INR14.5bn, down 1.4% YoY impacted by negative operating leverage and negative economic variances. Margins for the 9MFY21 expanded both sequentially by 50bps and YoY by 100bps to 19.3% supported by higher protection and non-PAR mix. In terms of BS strengthening, the insurer added INR56.2mn to its contingent COVID19 provisions taking the total to INR703.8mn as of Dec 20."

    It further added, "Going forward, SBI Life is better placed to maintain sector leadership - largest private insurer with APE market share of 12.1% as YTDFY21, given significant brand equity, an expansive multi-channel, pan India distribution network, cost leadership and access to parent's huge client base. We expect an 18% EV CAGR over FY21-23E driven by NBV CAGR of 18% and value the insurer at 2.3x FY23E EV implying a TP of INR 1,040. Maintain BUY."

  • Jan 25, 2021 15:13 (IST)

    Market falls further

    In a volatile trading session, equity benchmarkindices rfell majorly by Monday's afternoon sssion, amid profit booking in major global markets after the recent rally to record highs. Falling for third straight session, Sensex was down by 555 points at 48,350 and Nifty fell by 130 points to 14,235.

  • 15:13 IST: In a volatile trading session, equity benchmarkindices rfell majorly by Monday's afternoon sssion, amid profit booking in major global markets after the recent rally to record highs. Falling for third straight session, Sensex was down by 555 points at 48,350 and Nifty fell by 130 points to 14,235.

  • Jan 25, 2021 15:11 (IST)

    Reliance Industries Q3 outlook




    JM Financial Institutional Securities Limited gave buy rating to RIL stock, at Rs 2,500 as TP and said,"RIL's consolidated EBITDA for 3QFY21 was largely in-line at INR 216bn; however, PAT (before minority) was higher at INR 149bn (vs. JMFe of INR 126bn) due to sharp decline in interest cost (to INR 43bn vs. JMFe of INR 52bn) and continued lower taxes. Jio EBITDA was up 6% QoQ led by 4% QoQ growth in ARPU; however, net additions continued to be subdued due to market share losses in incremental MBB subscribers. Further, Retail business is gradually recovering post lockdown while margin was healthy at ~7% due to rebound in high margin Fashion & Lifestyle segment to pre-Covid levels. O2C business EBITDA was in-line; but lack of details make it difficult to comment on Refining & Petchem margins. Reported net debt declined to INR 369bn at end 3QFY21 (vs. INR 935bn at end 2QFY21 and INR 1,610bn at end FY20) due to the funds received from asset monetisation - Exhibit 3. We reiterate BUY with an unchanged TP of INR 2,500/share as we expect a strong FCF generation phase with major capex completed and strong 17-18% EPS CAGR likely over the next 3-5 years.

     

  • 15:11 IST:


    JM Financial Institutional Securities Limited gave buy rating to RIL stock, at Rs 2,500 as TP and said,"RIL's consolidated EBITDA for 3QFY21 was largely in-line at INR 216bn; however, PAT (before minority) was higher at INR 149bn (vs. JMFe of INR 126bn) due to sharp decline in interest cost (to INR 43bn vs. JMFe of INR 52bn) and continued lower taxes. Jio EBITDA was up 6% QoQ led by 4% QoQ growth in ARPU; however, net additions continued to be subdued due to market share losses in incremental MBB subscribers. Further, Retail business is gradually recovering post lockdown while margin was healthy at ~7% due to rebound in high margin Fashion & Lifestyle segment to pre-Covid levels. O2C business EBITDA was in-line; but lack of details make it difficult to comment on Refining & Petchem margins. Reported net debt declined to INR 369bn at end 3QFY21 (vs. INR 935bn at end 2QFY21 and INR 1,610bn at end FY20) due to the funds received from asset monetisation - Exhibit 3. We reiterate BUY with an unchanged TP of INR 2,500/share as we expect a strong FCF generation phase with major capex completed and strong 17-18% EPS CAGR likely over the next 3-5 years.

     

  • Jan 25, 2021 14:57 (IST)

    RIL Q3 outlook and valuation

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Reliance Industries Ltd. (RIL) reported Q3FY21 numbers which were better then expected. While the O2C and retail business improved sequentially they remained under pressure on a YoY basis. However the Digital business continued to post strong growth. Consolidated revenues for the quarter was down by 21.1% YoY to Rs1,23,997 crore. EBIT for the quarter was down by 13.4% YoY to Rs 14,901 crore while EBIT margins expanded by 107 bps YoY to 12.0%. However net profit for the quarter was up by 25.8% YoY to Rs14,894 crore due to lower tax expenses at Rs. 88 crore as against Rs. 3121 crore in Q3FY20.


    The O2C business continued to remain under pressure as segment EBIT was down by % YoY to Rs9,756 crore. While retail revenue from operations were down by 18.7% YoY to Rs. 36887 crore segment EBIT was up by 9.0% YoY to Rs2609 crore. The digital business posted a strong set of numbers with segment EBIT up by 48.4% YoY to Rs8,942 crore due to strong performance by Jio which reported an ARPU of Rs. 151 as compared to Rs. 145 in Q2FY21. We continue to remain positive on Reliance Industries post the Q3FY21 numbers with a SOTP based price target of Rs. 2,268 as we expect the O2C and retail business to normalize in FY2022 while the digital business is expected to maintain its strong growth."

  • 14:57 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"Reliance Industries Ltd. (RIL) reported Q3FY21 numbers which were better then expected. While the O2C and retail business improved sequentially they remained under pressure on a YoY basis. However the Digital business continued to post strong growth. Consolidated revenues for the quarter was down by 21.1% YoY to Rs1,23,997 crore. EBIT for the quarter was down by 13.4% YoY to Rs 14,901 crore while EBIT margins expanded by 107 bps YoY to 12.0%. However net profit for the quarter was up by 25.8% YoY to Rs14,894 crore due to lower tax expenses at Rs. 88 crore as against Rs. 3121 crore in Q3FY20.


    The O2C business continued to remain under pressure as segment EBIT was down by % YoY to Rs9,756 crore. While retail revenue from operations were down by 18.7% YoY to Rs. 36887 crore segment EBIT was up by 9.0% YoY to Rs2609 crore. The digital business posted a strong set of numbers with segment EBIT up by 48.4% YoY to Rs8,942 crore due to strong performance by Jio which reported an ARPU of Rs. 151 as compared to Rs. 145 in Q2FY21. We continue to remain positive on Reliance Industries post the Q3FY21 numbers with a SOTP based price target of Rs. 2,268 as we expect the O2C and retail business to normalize in FY2022 while the digital business is expected to maintain its strong growth."

  • Jan 25, 2021 14:31 (IST)

    Oberoi Realty Q3 outlook and valuation



    LKP Securities said in its note today,"Oberoi Realty Ltd reported a better than expected result for Q3FY21. Area booked for the quarter at 4.85 lakhs sq-ft and company reported Pre-Sales for the quarter at Rs849.5 crores in Q3FY20. Consolidated revenue from operation at 333.57 crores in Q3FY21 up by 74% as compared to 191.34 crores in Q3FY20. Consolidated Profit before tax stood at 204.5 crores in Q3FY21 up by 86% as compared to 109.8 crores in Q3FY20. Consolidated PAT stood at 180.4 crores in Q3FY21 up by 138% as compared to 75.8 crores in Q3FY20. Commercial office space occupancy has been flat as compared to Q3FY21. Oberoi realty reported a very good set of numbers as multiple positive points triggers in this quarter like stage government cutting off duty and strong recovery in residential demand after Covid. We expect residential to continue to do well while commercial business will take time to recover."

  • 14:31 IST:

    LKP Securities said in its note today,"Oberoi Realty Ltd reported a better than expected result for Q3FY21. Area booked for the quarter at 4.85 lakhs sq-ft and company reported Pre-Sales for the quarter at Rs849.5 crores in Q3FY20. Consolidated revenue from operation at 333.57 crores in Q3FY21 up by 74% as compared to 191.34 crores in Q3FY20. Consolidated Profit before tax stood at 204.5 crores in Q3FY21 up by 86% as compared to 109.8 crores in Q3FY20. Consolidated PAT stood at 180.4 crores in Q3FY21 up by 138% as compared to 75.8 crores in Q3FY20. Commercial office space occupancy has been flat as compared to Q3FY21. Oberoi realty reported a very good set of numbers as multiple positive points triggers in this quarter like stage government cutting off duty and strong recovery in residential demand after Covid. We expect residential to continue to do well while commercial business will take time to recover."

  • Jan 25, 2021 14:20 (IST)

    UltraTech Cement outlook

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said," For Q3FY21, UltraTech Cement revenue increased by 17.3% YoY to Rs 12,254 cr. On the other hand, net profit registered a strong of 122.7% YoY to Rs 1,584 cr. Operating margin increased to 26% from 21% for the same quarter in the last year. EBIDTA/tonne of the company registered a strong growth of 30.4% YoY to Rs1,330/tonne due to higher volume and lower energy cost. Sales volume increased by 14.2% to 23.88 mn tonne due to strong rural and pent up demand. Overall, numbers were above street expectation in all the fronts. We expect other cement companies' results to also come above street expectations. From an investment point of view, we are bullish on the UltraTech Cement."

     

  • 14:20 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said," For Q3FY21, UltraTech Cement revenue increased by 17.3% YoY to Rs 12,254 cr. On the other hand, net profit registered a strong of 122.7% YoY to Rs 1,584 cr. Operating margin increased to 26% from 21% for the same quarter in the last year. EBIDTA/tonne of the company registered a strong growth of 30.4% YoY to Rs1,330/tonne due to higher volume and lower energy cost. Sales volume increased by 14.2% to 23.88 mn tonne due to strong rural and pent up demand. Overall, numbers were above street expectation in all the fronts. We expect other cement companies' results to also come above street expectations. From an investment point of view, we are bullish on the UltraTech Cement."

     

  • Jan 25, 2021 14:13 (IST)

    Strides Pharma outlook

    Yash Gupta Equity Research Associate, Angel Broking  said," Strides Pharma Science Limited (Strides) today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Ursodiol Capsules USP, 300 mg from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Actigall® Capsules, 300 mg, of Allergan Sales, LLC. According to IQVIA MAT November 2020 data, the US market for Ursodiol Capsules USP, 300 mg is approximately US$ 45 Mn. The product will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
     

    Ursodiol tablets are indicated for the treatment of patients with Primary Biliary Cirrhosis (PBC). This is positive development for the company but the market size of the is very small, we expect this will not create any major impact of earning. We have a neutral rating on Strides pharma.



     

  • 14:13 IST: Yash Gupta Equity Research Associate, Angel Broking  said," Strides Pharma Science Limited (Strides) today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Ursodiol Capsules USP, 300 mg from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Actigall® Capsules, 300 mg, of Allergan Sales, LLC. According to IQVIA MAT November 2020 data, the US market for Ursodiol Capsules USP, 300 mg is approximately US$ 45 Mn. The product will be manufactured at the company’s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.
     

    Ursodiol tablets are indicated for the treatment of patients with Primary Biliary Cirrhosis (PBC). This is positive development for the company but the market size of the is very small, we expect this will not create any major impact of earning. We have a neutral rating on Strides pharma.



     

  • Jan 25, 2021 13:55 (IST)

    Nifty technical valuation



    Sameet Chavan (Chief Analyst-Technical and Derivatives), Angel Broking said,"Although Nifty has not broken any major supports, the development in BANKNIFTY does not look encouraging at all.  In fact, the entire banking and financial space was the major culprit behind Friday’s correction as they took a solid knock. To be specific, BANKNIFTY has confirmed a double top pattern on daily chart and has broken its important swing low with an ease. The weekly chart of the same exhibits a confirmation of ‘Long Legged Doji’ pattern. For Nifty, the important support to watch out would be 14222, below which the recent bullish structure will get distorted to extend the correction towards 14000 – 13800 levels.

    On the higher side, 14500 – 14632 would be seen as immediate hurdles.Historically, it is rare to see a major trend reversal ahead of any mega event. Hence, it would be interesting to see how things pan out in this week as the Union Budget is around the corner.

     

  • 13:55 IST:

    Sameet Chavan (Chief Analyst-Technical and Derivatives), Angel Broking said,"Although Nifty has not broken any major supports, the development in BANKNIFTY does not look encouraging at all.  In fact, the entire banking and financial space was the major culprit behind Friday’s correction as they took a solid knock. To be specific, BANKNIFTY has confirmed a double top pattern on daily chart and has broken its important swing low with an ease. The weekly chart of the same exhibits a confirmation of ‘Long Legged Doji’ pattern. For Nifty, the important support to watch out would be 14222, below which the recent bullish structure will get distorted to extend the correction towards 14000 – 13800 levels.

    On the higher side, 14500 – 14632 would be seen as immediate hurdles.Historically, it is rare to see a major trend reversal ahead of any mega event. Hence, it would be interesting to see how things pan out in this week as the Union Budget is around the corner.

     

  • Jan 25, 2021 13:32 (IST)

    SBI Life insurance Q3 outlook



    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"SBI Life Insurance reported a 11.7% YoY increase in Net premium income to Rs 13,766.49 crore, up 17.71% while income from investment rose 213 per cent to Rs 12,777 crore. Total income for the quarter was up by 68.3% YoY to Rs. 26,552 crore. However during the quarter there was a sharp jump in actuarial liabilities by 163% YoY to Rs. 20243.6 crore as a result of which surplus during the quarter declined by 51.2% YoY to Rs. 296.8 crore. Amount transferred to the shareholders account was down by 75.7% YoY to Rs. 65.7 crore while investment income was up by 0.3% YoY to Rs. 174.5 crore. Other income was flat YoY at Rs. 1.6 crore. Net profit for the quarter was down by 40% YoY to Rs. 232.9 crore. Overall the numbers for the quarter were adversely impacted due to significant decrease in amount transferred to shareholders account. We currently have a Neutral rating on SBI Life and the Life Insurance sector."

     

  • 13:32 IST:

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"SBI Life Insurance reported a 11.7% YoY increase in Net premium income to Rs 13,766.49 crore, up 17.71% while income from investment rose 213 per cent to Rs 12,777 crore. Total income for the quarter was up by 68.3% YoY to Rs. 26,552 crore. However during the quarter there was a sharp jump in actuarial liabilities by 163% YoY to Rs. 20243.6 crore as a result of which surplus during the quarter declined by 51.2% YoY to Rs. 296.8 crore. Amount transferred to the shareholders account was down by 75.7% YoY to Rs. 65.7 crore while investment income was up by 0.3% YoY to Rs. 174.5 crore. Other income was flat YoY at Rs. 1.6 crore. Net profit for the quarter was down by 40% YoY to Rs. 232.9 crore. Overall the numbers for the quarter were adversely impacted due to significant decrease in amount transferred to shareholders account. We currently have a Neutral rating on SBI Life and the Life Insurance sector."

     

  • Jan 25, 2021 13:21 (IST)

    YES Bank Q3 outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," Yes Bank reported a 140% YoY increase in Net interest income to Rs 2,560 crore. Provisions for the quarter were down to Rs. 2199 crore as compared to Rs 24,766 crore as a result of which the company reported a profit of Rs 151 crore as against a loss of Rs 18,560 crore in Q3FY20. Similarly advances also grew by 2% qoq to Rs 1,69,721 crore. Reported GNPA and NNPA stood at 15.4% and 4.0% at the end of Q3FY21. However the bank had another Rs 18,551 crore of standstill and overdue accounts of which restructuring was invoked for Rs 8,062 crore during the quarter. Overall the bank posted good operating numbers for the quarter, we believe that standstill and overdue accounts would remain a drag on asset quality for the next few quarters. We have a cautious view on Yes bank as provisioning is likely to remain elevated for a few more quarters."

     

  • 13:21 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said," Yes Bank reported a 140% YoY increase in Net interest income to Rs 2,560 crore. Provisions for the quarter were down to Rs. 2199 crore as compared to Rs 24,766 crore as a result of which the company reported a profit of Rs 151 crore as against a loss of Rs 18,560 crore in Q3FY20. Similarly advances also grew by 2% qoq to Rs 1,69,721 crore. Reported GNPA and NNPA stood at 15.4% and 4.0% at the end of Q3FY21. However the bank had another Rs 18,551 crore of standstill and overdue accounts of which restructuring was invoked for Rs 8,062 crore during the quarter. Overall the bank posted good operating numbers for the quarter, we believe that standstill and overdue accounts would remain a drag on asset quality for the next few quarters. We have a cautious view on Yes bank as provisioning is likely to remain elevated for a few more quarters."

     

  • Jan 25, 2021 13:11 (IST)

    Rupee rises 4 paise to 72.93

    Indian rupee, the domestic currency benchmark, edged 4 paise higher at 72.93 per US dollar on Monday's opening trade, tracking positive opening in the domestic equities and weak American currency. The local unit was trading in a narrow range, ahead of the US Federal Reserve meeting, scheduled later this week.

    The domestic unit opened at 72.95 per dollar at the interbank forex market, and inched 4 paise higher to 72.93 over its previous close of 72.97 per American currency.

    Rupee rises 4 paise to 72.93 amid weak dollar, positive equities

  • 13:11 IST: Indian rupee, the domestic currency benchmark, edged 4 paise higher at 72.93 per US dollar on Monday's opening trade, tracking positive opening in the domestic equities and weak American currency. The local unit was trading in a narrow range, ahead of the US Federal Reserve meeting, scheduled later this week.

    The domestic unit opened at 72.95 per dollar at the interbank forex market, and inched 4 paise higher to 72.93 over its previous close of 72.97 per American currency.

    Rupee rises 4 paise to 72.93 amid weak dollar, positive equities

  • Jan 25, 2021 13:04 (IST)

    Gold and silver technical outlook

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Last week gold prices increased by 0.90% and closed at 49140 levels and silver prices also increased sharply by 2.90% and closed at 66642 levels. The expectation of Stimulus package for the US economy by new elected President Joe Biden. Weakness in Dollar is supportive of the Gold and Silver.
     

    As of today, traders can go for buy-in Gold at 49000 levels with the stop loss of 48700  levels for the target of 49700 levels. They can also for buy-in Silver at 66500 levels with the stop loss of 65900 levels for the target of 68500 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • 13:04 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Last week gold prices increased by 0.90% and closed at 49140 levels and silver prices also increased sharply by 2.90% and closed at 66642 levels. The expectation of Stimulus package for the US economy by new elected President Joe Biden. Weakness in Dollar is supportive of the Gold and Silver.
     

    As of today, traders can go for buy-in Gold at 49000 levels with the stop loss of 48700  levels for the target of 49700 levels. They can also for buy-in Silver at 66500 levels with the stop loss of 65900 levels for the target of 68500 levels. We are expecting that gold may test $1900 levels and Silver may test $27 levels again soon."

  • Jan 25, 2021 12:50 (IST)

    Stove Kraft IPO opens today



    The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is set to open for subscription today on January 25. The price band has been fixed at Rs 384-385 per share.

    Lot size of Stove Kraft IPO is 38 shares. A retail-individual investor can apply for multiples of 13 lots, thereafter for a minimum amount of Rs 14,630 and maximum of 494 shares for Rs 190,190. The book running lead managers to the IPO are Edelweiss Financial Services and JM Financial. KFin Technologies Private Ltd is the registrar to the issue.



    The company, which has already raised Rs 185 crore via Anchor investors portion that was open for subscription on January 22, 2021.

  • 12:50 IST:

    The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is set to open for subscription today on January 25. The price band has been fixed at Rs 384-385 per share.

    Lot size of Stove Kraft IPO is 38 shares. A retail-individual investor can apply for multiples of 13 lots, thereafter for a minimum amount of Rs 14,630 and maximum of 494 shares for Rs 190,190. The book running lead managers to the IPO are Edelweiss Financial Services and JM Financial. KFin Technologies Private Ltd is the registrar to the issue.



    The company, which has already raised Rs 185 crore via Anchor investors portion that was open for subscription on January 22, 2021.

  • Jan 25, 2021 12:40 (IST)

    IRFC IPO: Allotment of shares today




    The allotment status of Rs 300 crore initial public offer (IPO) of IRFC  will be announced today. The equity shares are proposed to be listed on BSE and NSE.

    The Rs 4,633 crore IPO of Indian Railway Finance Corporation Limited (IRFC) was subscribed nearly 3.5 times, which was open between 18th to 20th January at a price range of Rs 25-26 apiece. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors.

    IRFC IPO objective is to augment the company's equity capital base to meet business future growth requirements. The government plans to reduce its stakeholding in IRFC to 86% from 100% from the IPO. The issue includes a reservation of Rs 50 lakh worth of shares for eligible employees.

  • 12:40 IST:


    The allotment status of Rs 300 crore initial public offer (IPO) of IRFC  will be announced today. The equity shares are proposed to be listed on BSE and NSE.

    The Rs 4,633 crore IPO of Indian Railway Finance Corporation Limited (IRFC) was subscribed nearly 3.5 times, which was open between 18th to 20th January at a price range of Rs 25-26 apiece. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors.

    IRFC IPO objective is to augment the company's equity capital base to meet business future growth requirements. The government plans to reduce its stakeholding in IRFC to 86% from 100% from the IPO. The issue includes a reservation of Rs 50 lakh worth of shares for eligible employees.

  • Jan 25, 2021 12:16 (IST)

    Indian Energy Exchange (IEX) outlook and valuation



    LKP Securities said in its note today,"India's spot power market is currently at a nascent stage as compared to other developed markets with only 6% of the total power generation. IEX is an integral part of the country's spot market growth trajectory with monopolistic business environment. The company has been busy launching multiple products in the market garnering more market share along with facilitating ease of transacting power through its platform. The success of the company is evident through the significant growth in the power volumes traded through its platforms over the last few quarters. Given the government focus on shifting the entire power transaction through exchange route, IEX would have tremendous growth opportunity. IEX's wholly owned subsidiary, IGX is also the first and only regulated gas exchange of India at the time when the government is aiming to increase the share of gas in the overall power market from current 6% to 15% in next few years. With robust growth prospects and healthy financials, we maintain our BUY recommendation with upward revision of price target to ?298 using the DCF method."

     

  • 12:16 IST:

    LKP Securities said in its note today,"India's spot power market is currently at a nascent stage as compared to other developed markets with only 6% of the total power generation. IEX is an integral part of the country's spot market growth trajectory with monopolistic business environment. The company has been busy launching multiple products in the market garnering more market share along with facilitating ease of transacting power through its platform. The success of the company is evident through the significant growth in the power volumes traded through its platforms over the last few quarters. Given the government focus on shifting the entire power transaction through exchange route, IEX would have tremendous growth opportunity. IEX's wholly owned subsidiary, IGX is also the first and only regulated gas exchange of India at the time when the government is aiming to increase the share of gas in the overall power market from current 6% to 15% in next few years. With robust growth prospects and healthy financials, we maintain our BUY recommendation with upward revision of price target to ?298 using the DCF method."

     

  • Jan 25, 2021 11:57 (IST)

    Market outlook for the week

     Ajit Mishra, VP - Research, Religare Broking said," The coming week is a holiday-shortened one and we expect volatility to remain high due to the scheduled derivatives expiry. Besides, budget-related news and global cues will also be in focus.



    We have a long list of major corporates who will be announcing their results during the week. Some of the prominent names are viz. Axis Bank, Kotak Bank, LT, Hindustan Unilever, Maruti, TVS Motor, Tata Motors, Cipla and Sun Pharma.



    Markets will first react to the Reliance numbers in early trade on Monday. After two weeks of indecisive movement, we may see further slide ahead and a decisive break of 14,200 level in Nifty would derail the recent momentum. In line with the benchmark, we're seeing erratic swings across the board; thanks to prevailing earnings season and we do not expect any relief on that front too. Amid all, it's prudent to book profit on the rise and focus more on risk management.

  • 11:57 IST:  Ajit Mishra, VP - Research, Religare Broking said," The coming week is a holiday-shortened one and we expect volatility to remain high due to the scheduled derivatives expiry. Besides, budget-related news and global cues will also be in focus.



    We have a long list of major corporates who will be announcing their results during the week. Some of the prominent names are viz. Axis Bank, Kotak Bank, LT, Hindustan Unilever, Maruti, TVS Motor, Tata Motors, Cipla and Sun Pharma.



    Markets will first react to the Reliance numbers in early trade on Monday. After two weeks of indecisive movement, we may see further slide ahead and a decisive break of 14,200 level in Nifty would derail the recent momentum. In line with the benchmark, we're seeing erratic swings across the board; thanks to prevailing earnings season and we do not expect any relief on that front too. Amid all, it's prudent to book profit on the rise and focus more on risk management.

  • Jan 25, 2021 11:36 (IST)

    RIL share falls over 4% after Q3 revenue takes pandemic hit

    Share of Reliance Industries Limited (RIL) fell over 4% in early trade after the conglomerate reported Q3 revenue, which fell below estimates. RIL share plunged 4.7% to Rs 1,953.40 against previous close of Rs 2,049.65 on BSE.
    ADVERTISING

    Stock of RIL opened marginally higher at Rs 2,052. RIL's market cap fell to Rs 12.49 lakh crore. RIL stock has lost 5.93% in the last 2 days.

    RIL share trades higher than 50 day and 200 day moving averages but lower than 5 day, 20 day and 100 day moving averages. The stock has risen 29.54% in one year but fallen 0.68% since the beginning of this year.

    RIL share falls over 4% after Q3 revenue takes pandemic hit

  • 11:36 IST: Share of Reliance Industries Limited (RIL) fell over 4% in early trade after the conglomerate reported Q3 revenue, which fell below estimates. RIL share plunged 4.7% to Rs 1,953.40 against previous close of Rs 2,049.65 on BSE.
    ADVERTISING

    Stock of RIL opened marginally higher at Rs 2,052. RIL's market cap fell to Rs 12.49 lakh crore. RIL stock has lost 5.93% in the last 2 days.

    RIL share trades higher than 50 day and 200 day moving averages but lower than 5 day, 20 day and 100 day moving averages. The stock has risen 29.54% in one year but fallen 0.68% since the beginning of this year.

    RIL share falls over 4% after Q3 revenue takes pandemic hit

  • Jan 25, 2021 11:06 (IST)

    Market reverses trend, trades tad higher

    In a volatile trading session, equity benchmarkindices reversed trend and rose marginally higher on Monday, amid mixed global equities. Sensex was trading 50 points higher at 48,960 and Nifty was up by 15 points to 14,385.

  • 11:06 IST: In a volatile trading session, equity benchmarkindices reversed trend and rose marginally higher on Monday, amid mixed global equities. Sensex was trading 50 points higher at 48,960 and Nifty was up by 15 points to 14,385.

  • Jan 25, 2021 11:02 (IST)

    YES Bank share falls over 4% post Q3 earnings




    YES Bank shares declined 4.7% in early trade of Monday, after the lender declared results for the quarter ended 31st December 2020.

    The private sector lender has posted a net profit of Rs 151 crore in the third quarter ended December 2020 (Q3FY21), as against a staggering loss of Rs 18,560 crore in third quarter ended December 2019 (Q3FY20). Sequentially, net profit was up 16.5%.

    The bank's board on Friday said that it has approved of raising funds of up to Rs 10,000 crore, in one or more tranches.
     
    Stock of YES Bank opened higher at Rs 17.45 and touched day's high of Rs 17.55 in early session. Later, the stock fell 4.7% to day's low of Rs 16.20, as against the last close of Rs 17.

    YES Bank share falls over 4% post Q3 earnings

  • 11:02 IST:


    YES Bank shares declined 4.7% in early trade of Monday, after the lender declared results for the quarter ended 31st December 2020.

    The private sector lender has posted a net profit of Rs 151 crore in the third quarter ended December 2020 (Q3FY21), as against a staggering loss of Rs 18,560 crore in third quarter ended December 2019 (Q3FY20). Sequentially, net profit was up 16.5%.

    The bank's board on Friday said that it has approved of raising funds of up to Rs 10,000 crore, in one or more tranches.
     
    Stock of YES Bank opened higher at Rs 17.45 and touched day's high of Rs 17.55 in early session. Later, the stock fell 4.7% to day's low of Rs 16.20, as against the last close of Rs 17.

    YES Bank share falls over 4% post Q3 earnings

  • Jan 25, 2021 10:51 (IST)

    M-cap of four of 10 most valued firms reaches over Rs 1.15 lakh crore

    Reliance Industries Limited, Tata Consultancy Services (TCS), Hindustan Unilever Limited and Bajaj Finance witnessed a rally in their market valuation. On the other hand, HDFC Bank, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank and Bharti Airtel suffered cumulative loss of Rs 48,941.18 crore in their valuations.

    The valuation of Reliance Industries Limited jumped Rs 71,033.44 crore to reach Rs 12,99,363.47 crore, becoming the biggest gainer. The market capitalisation of Tata Consultancy Services zoomed Rs 26,191.64 crore to Rs 12,39,562.76 crore and that of Hindustan Unilever Limited gained Rs 13,357.22 crore to Rs 5,65,949.36 crore.

    M-cap of four of 10 most valued firms reaches over Rs 1.15 lakh crore; RIL, TCS top gainers

  • 10:51 IST: Reliance Industries Limited, Tata Consultancy Services (TCS), Hindustan Unilever Limited and Bajaj Finance witnessed a rally in their market valuation. On the other hand, HDFC Bank, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank and Bharti Airtel suffered cumulative loss of Rs 48,941.18 crore in their valuations.

    The valuation of Reliance Industries Limited jumped Rs 71,033.44 crore to reach Rs 12,99,363.47 crore, becoming the biggest gainer. The market capitalisation of Tata Consultancy Services zoomed Rs 26,191.64 crore to Rs 12,39,562.76 crore and that of Hindustan Unilever Limited gained Rs 13,357.22 crore to Rs 5,65,949.36 crore.

    M-cap of four of 10 most valued firms reaches over Rs 1.15 lakh crore; RIL, TCS top gainers

  • Jan 25, 2021 10:46 (IST)

    Nifty Outlook



    Geojit  Financial Services said in its note today: "The close below 14430 on Friday is a bearish call, but being at the Bollinger band extremity, a pull back may not be surprising. Upside surprises, however, will gain momentum if 14545 is overcome, replacing 13900 possibilities with that of 15000-15200. Either way, the week ahead holds high potential for wider trading range."

  • 10:46 IST:

    Geojit  Financial Services said in its note today: "The close below 14430 on Friday is a bearish call, but being at the Bollinger band extremity, a pull back may not be surprising. Upside surprises, however, will gain momentum if 14545 is overcome, replacing 13900 possibilities with that of 15000-15200. Either way, the week ahead holds high potential for wider trading range."

  • Jan 25, 2021 10:45 (IST)

    19 IPOs worth $1.84 billion issued in Dec quarter

    In the latest December quarter, there were 19 IPOs valued at $1.836 billion and the largest was that of Gland Pharma with an issue size of $869 million. There were just 11 IPOs in the year-ago period. India ranks ninth globally in terms of the number of IPOs in 2020 with 43 IPOs raising $4.09 billion, as per the report.

    "There is a strong momentum in the IPO markets, and we are seeing an increased interest from companies across sectors looking to raise capital in the near term. Additionally, companies are keenly awaiting guidelines for direct listing in overseas markets. The market sentiment remains positive for what could be a stellar 2021," Sandip Khetan, Partner and National Leader, Financial Accounting Advisory Services (FAAS) at EY India, said.

    19 IPOs worth $1.84 billion issued in Dec quarter: EY India

  • 10:45 IST: In the latest December quarter, there were 19 IPOs valued at $1.836 billion and the largest was that of Gland Pharma with an issue size of $869 million. There were just 11 IPOs in the year-ago period. India ranks ninth globally in terms of the number of IPOs in 2020 with 43 IPOs raising $4.09 billion, as per the report.

    "There is a strong momentum in the IPO markets, and we are seeing an increased interest from companies across sectors looking to raise capital in the near term. Additionally, companies are keenly awaiting guidelines for direct listing in overseas markets. The market sentiment remains positive for what could be a stellar 2021," Sandip Khetan, Partner and National Leader, Financial Accounting Advisory Services (FAAS) at EY India, said.

    19 IPOs worth $1.84 billion issued in Dec quarter: EY India

  • Jan 25, 2021 10:21 (IST)

    Stocks in news today



    Stocks to watch today on January 25: RIL, YES Bank, JM Financial, Gland Pharma, JSW Steel, Tata Motors among others are the top stocks to watch out for in Monday's trading session

    Stocks in news: RIL, YES Bank, JM Financial, Gland Pharma, JSW Steel, Tata Motors

  • 10:21 IST:

    Stocks to watch today on January 25: RIL, YES Bank, JM Financial, Gland Pharma, JSW Steel, Tata Motors among others are the top stocks to watch out for in Monday's trading session

    Stocks in news: RIL, YES Bank, JM Financial, Gland Pharma, JSW Steel, Tata Motors

  • Jan 25, 2021 10:18 (IST)

    Why market falling today

    Global stocks were mostly correcting today, with some positivity registered in Asian counterparts, as investors locked profits after a recent rally that was driven by hopes of a massive US economic stimulus plan by incoming President Joe Biden. Major indices worldwide including India's barometers Sensex and Nifty hit new lifetime highs last week. Further, profit booking was anticipated after index majors like RIL, JM Financial, JSW Steel, YES Bank, Birla Cop, UltraTech Cement, Gland Pharma etc posted Q3 earnings on Friday.

    Earning figures from Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine, that will be declared during today's session, will further guide the market.

  • 10:18 IST: Global stocks were mostly correcting today, with some positivity registered in Asian counterparts, as investors locked profits after a recent rally that was driven by hopes of a massive US economic stimulus plan by incoming President Joe Biden. Major indices worldwide including India's barometers Sensex and Nifty hit new lifetime highs last week. Further, profit booking was anticipated after index majors like RIL, JM Financial, JSW Steel, YES Bank, Birla Cop, UltraTech Cement, Gland Pharma etc posted Q3 earnings on Friday.

    Earning figures from Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine, that will be declared during today's session, will further guide the market.

  • Jan 25, 2021 10:09 (IST)

    Global markets trade mixed

    Asian markets are trading higher tracking US futures as investors try to focus on FOMC meeting scheduled this week and factored in prospects of more stimulus. US markets closed lower on Friday as investors gave importance to new US President's stimulus package and reports of new coronavirus variant which is considered more deadlier. European markets closed lower on Friday as investors search for information on covid-19 restrictions and fresh economic data coming out of Euro zone.

  • 10:09 IST: Asian markets are trading higher tracking US futures as investors try to focus on FOMC meeting scheduled this week and factored in prospects of more stimulus. US markets closed lower on Friday as investors gave importance to new US President's stimulus package and reports of new coronavirus variant which is considered more deadlier. European markets closed lower on Friday as investors search for information on covid-19 restrictions and fresh economic data coming out of Euro zone.

  • Jan 25, 2021 09:59 (IST)

    Market update

    Market indices reversed trend within minutes of opening bell and continued trading lower for the third day on Monday, amid positive global equities. Sensex was falling 150 points to 48,691 and Nifty was down by 40 points to 14,330.

  • 09:59 IST: Market indices reversed trend within minutes of opening bell and continued trading lower for the third day on Monday, amid positive global equities. Sensex was falling 150 points to 48,691 and Nifty was down by 40 points to 14,330.

  • Jan 25, 2021 09:51 (IST)

    Global markets


    Geojit  Financial Services said in its note today:
    Overseas, Asian stocks were mixed in Monday trade as investors continue to monitor the situation surrounding the coronavirus pandemic.

    Amid the pandemic, China surpassed the U.S. as the world's largest recipient of foreign direct investment, according to a report released Sunday from the United Nations Conference on Trade and Development. China brought in $163 billion in inflows last year, compared to $134 billion attracted by the U.S., according to the report.

    Developments around Covid-19 are likely to be watched by investors, as the world races to adapt against the mutating coronavirus which has produced a number of potentially more infectious variants.

    In US, stocks finished mixed on Friday — the S&P 500 and Dow finished in the red while the Nasdaq Composite closed at a record high. The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results.

  • 09:51 IST:
    Geojit  Financial Services said in its note today:
    Overseas, Asian stocks were mixed in Monday trade as investors continue to monitor the situation surrounding the coronavirus pandemic.

    Amid the pandemic, China surpassed the U.S. as the world's largest recipient of foreign direct investment, according to a report released Sunday from the United Nations Conference on Trade and Development. China brought in $163 billion in inflows last year, compared to $134 billion attracted by the U.S., according to the report.

    Developments around Covid-19 are likely to be watched by investors, as the world races to adapt against the mutating coronavirus which has produced a number of potentially more infectious variants.

    In US, stocks finished mixed on Friday — the S&P 500 and Dow finished in the red while the Nasdaq Composite closed at a record high. The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results.

  • Jan 25, 2021 09:50 (IST)

    FII action on Friday

    Foreign portfolio investors (FPIs) sold shares worth Rs 635.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,290.35 crore in the Indian equity market on 22 January, provisional data showed.


     

  • 09:50 IST: Foreign portfolio investors (FPIs) sold shares worth Rs 635.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,290.35 crore in the Indian equity market on 22 January, provisional data showed.


     

  • Jan 25, 2021 09:50 (IST)

    Currency Outlook





    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said:



    The rupee opened on flat at 72.962 against the US dollar in opening trade on morning tracking queues from Asian equity market amid rising fear of increased case. On Friday it was closed flat at 72.953 against greenback, the rupee down 0.01% last week. FII sold 636CR into domestic equity market on last Friday, which supported rupee to come near psychological level of 73.00. The U.S. Dollar Index is closed in green above phycological support of $90 amid near restriction in European country and week data from china. All major currency like Singapore dollar, Japanese Yen, Australian dollar are traded flat against the US dollar this morning in Asian trade as rises in Covid-19 Cases, Hongkong market trading positive 400 points in the morning trade.

    Technically, USDINR pair closed firm against the US Dollar taking ques from strong economic data and weakness in dollar index. USDINR spot is trading below phycological level of  73.00 preceding 21-day SMA is currently around 73.195, which challenges any recovery moves and below this it may continue in the falling trend pattern wherein support of the pair is at 72.60 levels USDINR option data suggesting market will keep trade in narrow range. Once Pair breaks the support then it may come down towards 72.20 levels.

     

  • 09:50 IST:



    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said:



    The rupee opened on flat at 72.962 against the US dollar in opening trade on morning tracking queues from Asian equity market amid rising fear of increased case. On Friday it was closed flat at 72.953 against greenback, the rupee down 0.01% last week. FII sold 636CR into domestic equity market on last Friday, which supported rupee to come near psychological level of 73.00. The U.S. Dollar Index is closed in green above phycological support of $90 amid near restriction in European country and week data from china. All major currency like Singapore dollar, Japanese Yen, Australian dollar are traded flat against the US dollar this morning in Asian trade as rises in Covid-19 Cases, Hongkong market trading positive 400 points in the morning trade.

    Technically, USDINR pair closed firm against the US Dollar taking ques from strong economic data and weakness in dollar index. USDINR spot is trading below phycological level of  73.00 preceding 21-day SMA is currently around 73.195, which challenges any recovery moves and below this it may continue in the falling trend pattern wherein support of the pair is at 72.60 levels USDINR option data suggesting market will keep trade in narrow range. Once Pair breaks the support then it may come down towards 72.20 levels.

     

  • Jan 25, 2021 09:48 (IST)

    Market outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"Even though the markets have opened in the green, a stiff resistance awaits the index at 14550-14600. We will resume the uptrend only if we can manage to get past that trading zone on the back of healthy volumes. Until then the Nifty seems nervous in the short term time frame with a downward bias. We can go down to 14000-14100 levels.



     

  • 09:48 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"Even though the markets have opened in the green, a stiff resistance awaits the index at 14550-14600. We will resume the uptrend only if we can manage to get past that trading zone on the back of healthy volumes. Until then the Nifty seems nervous in the short term time frame with a downward bias. We can go down to 14000-14100 levels.



     

  • Jan 25, 2021 09:48 (IST)

    Nifty oulook

     Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The decline in Nifty by 218 points on Friday was caused by high level of selling by institutions- both FIIs and DIIs sold- particularly in banking stocks. The frontline banking stocks also corrected and consequently Bank Nifty declined by more than 1000 points. Today the trend in Nifty is likely to be dictated by the leading banking stocks and FII action. FIIs have poured in Rs 24469 crores net in equity so far in 2021supporting the market. So this space has to be watched closely. Budget expectations will influence the market significantly in the coming days"

     

  • 09:48 IST:  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The decline in Nifty by 218 points on Friday was caused by high level of selling by institutions- both FIIs and DIIs sold- particularly in banking stocks. The frontline banking stocks also corrected and consequently Bank Nifty declined by more than 1000 points. Today the trend in Nifty is likely to be dictated by the leading banking stocks and FII action. FIIs have poured in Rs 24469 crores net in equity so far in 2021supporting the market. So this space has to be watched closely. Budget expectations will influence the market significantly in the coming days"

     

  • Jan 25, 2021 09:15 (IST)

    Q3 Earnings today

    Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine International, RPG Life Sciences, Sharda Cropchem and UCO Bank among others.

  • 09:15 IST: Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine International, RPG Life Sciences, Sharda Cropchem and UCO Bank among others.

  • Jan 25, 2021 09:08 (IST)

    Nifty technial approcah for today's trade

     In the last week, the index reversed down from its new high of 14,754-level and tested its lower band of the rising channel. The index breached its prior weekly rising trend and once again formed Doji pattern. On Friday, the index extended loss and slipped to 4-days closing low. Due to consecutive decline in the index, major technical indicators on the near-term timeframe chart tested their oversold zone and may reverse upwards. Hence, the index may test 14,500-14,650-levels before resumes its southward journey. In case of further decline, the index will find support at around 14,250-level initially and at around 14,100-level subsequently. On the higher side, the index will face major hurdle at around its life-time-high of 14,754.

    As for the day, support is placed at around 14,280 and then at 14,188 levels, while resistance is observed at 14,542 and then at 14,712 levels.

  • 09:08 IST:  In the last week, the index reversed down from its new high of 14,754-level and tested its lower band of the rising channel. The index breached its prior weekly rising trend and once again formed Doji pattern. On Friday, the index extended loss and slipped to 4-days closing low. Due to consecutive decline in the index, major technical indicators on the near-term timeframe chart tested their oversold zone and may reverse upwards. Hence, the index may test 14,500-14,650-levels before resumes its southward journey. In case of further decline, the index will find support at around 14,250-level initially and at around 14,100-level subsequently. On the higher side, the index will face major hurdle at around its life-time-high of 14,754.

    As for the day, support is placed at around 14,280 and then at 14,188 levels, while resistance is observed at 14,542 and then at 14,712 levels.

  • Jan 25, 2021 09:07 (IST)

    Closing on Friday

    Market indices continued yesterday's fall and closed at day's low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371.  Globally, markets traded deep in red , signalling profit booking amid heavy valuations, given ample liquidity, high earnings growth and positive geopolitical cues.

  • 09:07 IST: Market indices continued yesterday's fall and closed at day's low on Friday amid profit booking, in line with weak global equities. Sensex ended 746 points lower at 48,878 and Nifty closed 218 points lower at 14,371.  Globally, markets traded deep in red , signalling profit booking amid heavy valuations, given ample liquidity, high earnings growth and positive geopolitical cues.