News Shots

The Georgia run-off elections results are out! Democrats have won control of the U.S. Senate for the first time in six years — a stunning result in a state that hadn’t sent a new Democratic senator to Washington for two decades! With the Senate and White House in hand, the Democrats will be looking forward to a strong reign in the US.

Highly disturbingly, supporters of US President Donald Trump stormed the US Capitol (Parliament) and disrupted electoral count on Wednesday. A woman was shot and killed inside the US Capitol. Washington’s mayor instituted an evening curfew in an attempt to contain the violence.

In an unprecedented step, Facebook and Twitter suspended President Donald Trump from posting to their platforms on January 7 following the storming of the US Capitol by his supporters.

Bandhan Bank said its loans and advances grew by 23% year-on-year to Rs 80,255 crore during the Q3 of this financial year.

Maruti Suzuki India, the country’s largest carmaker, on Wednesday said its total production in December 2020 increased 33.78% to 1,55,127 units.

Tata Sons tendered shares worth Rs 9,997 crore of Tata Consultancy Services (TCS) during the company’s Rs 16,000 crore-buyback offer that concluded recently.

Lupin Ltd has received approval from the US health regulator to market its generic version of sulfamethoxazole and trimethoprim oral suspension used to treat bacterial infections.

International rating agency Moody’s Investors Service voluntarily withdrew the ratings on the short-term foreign currency programme of State Bank of India under its $10 billion global medium-term note programme “for its own business reasons”.

Bank of Baroda has signed a pact with SIDBI to support the MSMEs with an online facility of submitting their loan restructuring proposals.

Domestic telecom gear maker HFCL has completed the shipment of one lakh Wi-Fi products made in India and now plans to expand its global footprint. The company said it is enhancing readiness to serve 5G network requirements as well.

Lump Ore prices went up 9.6% to Rs 5,700 per ton from Rs 5,200 per ton. Fines prices went up 4.3% to Rs 4,810 per ton from Rs 4,610 per ton. Watch NMDC.

NCL Industries cement production rose 50% to 6.32 lakh MT in Q3FY21 compared to 4.23 lakh MT last year. Cement dispatches rose 45% to 6.25 lakh MT versus 4.30 lakh MT year-on-year.

Dixon Technologies (India) has entered into an agreement with boAt for manufacturing of Twin wireless speakers. boAt recently raised $100 million from Warburg Pincus.

Builder Sobha reported good demand across all product categories in the Oct-Dec Quarter with total sales value up 22.2% to Rs 887.6 crore from Rs 726.1 crore. Sales volume of 11.33 lakh square feet of super built-up area was the best ever quarterly sales volume for the developer.

What to expect today?

NIFTY formed a red candle after 10 consecutive green candles. There was a steep intraday fall following mixed signals coming in from the US regarding the Georgia elections. Later NIFTY climbed back up and closed at 14,146. You can read all about yesterday’s movements here.

Bank Nifty opened above 31,770 and was much more bullish than NIFTY and ended the day with gains. When it moved down, as expected, 31,500 acted as a support.

The clean sweep in Georgia has brought in positive sentiments in the US markets and the same can be seen in the Asian markets as well. The US markets moved down a bit towards closing after the violence at the Capitol.

US markets, except NASDAQ, closed in the green. Europe was highly bullish, with FTSE closing 3.47% up! Asian markets are also trading higher. SGX NIFTY is trading higher at 14,272, which is nearly 100 points higher, indicating a gap up opening in the Indian Market. 

Highest Call Open Interest at 14,500, followed by 14,200. Highest Put Open Interest at 14,000, followed by 14,100. The setup looks very bullish.

Foreign institutional investors (FIIs) net sold shares worth Rs 483 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 380 crore in the Indian equity market.

There is a positive development in Maharashtra that will bring down the price of real estate considerably. Watch out for realty and construction stocks today!

NIFTY Bank has broken out from 31,500 and 31,770. 32,500 (all time high) will be the target. With all the good results coming in from the banks, do watch good private banks!

NIFTY might create a fresh all time high today and even test 14,300. FIIs ended up as net sellers yesterday. That is something we need to keep in mind. Let’s see what they end up doing today. 

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