News Shots

Castrol India has reported a profit of Rs 582.9 crore in Q3 vs 187.7 crore last year.

Tata Motors reported a 25.27% YoY increase in total sales at 59,959 units in January. Total domestic sales up 28% YoY.

Hero MotoCorp reported a 3.14% YoY fall in total sales to 4.85 lakh units in January.

Coal production in January fell 4.1% YoY for Coal India to 60.5 million tonnes against 63.1 million tonnes in last January. Coal offtake has also fallen.

V.S.T Tillers reported 14.56% increase in YoY sales to 2,258 units in January for Power Tillers and 25.38% YoY increase in tractor sales to 647 units.

PVR has closed their QIP of Rs 1,440 per share and raised over Rs 800 crore.

Promoter OPJ Trading has revoked pledge of 31.46 lakh shares of Jindal Steel and Power on January 29.

Indigo Paints is looking to have an amazing debut in the market today, with high listing gain.

More January month auto sales number will be out today.

Major Q3 results to be announced today:

  • HDFC
  • Dixon Technologies
  • IIFL
  • Tata Consumer Products
  • Escorts
  • Gujarat State Fertilisers and Chemicals
  • Vinati Organics
  • Dharampur Sugar Mills

What to expect today?

Yesterday was a historic day in the market as Nirmala Sitharaman Candle 2 was formed. The Union Budget pushed up the market like never before, especially banks and financial stocks.

NIFTY shot up by 646 points yesterday to close near 14,280. You can read all about yesterday’s movements here. But it is still more than 400 points away from the all-time high.

Bank Nifty shot up more than 2500 points, erasing all previous days of fall and hitting fresh all-time highs. Banks and financials actually took up the markets yesterday, other sectors may catch up today. Also, HDFC is announcing results today.

European and US markets have all closed in green. Asian markets are also back in green, saying that positivity has returned in the global markets. SGX NIFTY is trading higher at 14,470, which is more than 100 points higher, indicating a gap up opening in the Indian Market. 

We can actually watch Nifty to close in the green today. Just like we discussed about the last Sitharaman candle, the market may make an up move today, then consolidate or fall from tomorrow. Let us see.

Moving up, NIFTY has resistance at 14,500 and 14,550. Supports exist at 14,380 and 14,320.

Reliance has not moved much, and is still struggling to cross the 1900-mark. Let us wait to see if that happens today. 

Foreign institutional investors (FIIs) net bought shares worth Rs 1494 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 90 crore in the Indian equity market.

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