News Shots

The Samyukt Kisan Morcha at its general body meeting on January 21 has rejected the government’s proposal to suspend the implementation of recently passed agricultural reforms for 18 months, and has demanded a complete scrapping of the laws.

145 people infected with UK variant of COVID-19 in India, said the Health Ministry.

Mining giant Vedanta has reported a 4% rise in production of mined zinc in India to 2.44 lakh tonnes in the third quarter of the ongoing financial year(Q3FY21).

South Indian Bank has posted a loss of Rs 91.62 crore for Q3, due to an increase in provisions for bad loans. Last year, the bank had reported a net profit of Rs 90.54 crore in Q3.

Punjab & Sind Bank has reported a fraud of Rs 94.29 crore in an NPA account of Supertech Township Projects.

Shriram City Union Finance has approved the issue of Secured, Principal Protected Market Linked NCDs of face value of Rs 10 lakh each for an amount of Rs 125 crore.

Asian Paints Q3 net profits are up a whopping 63% YoY to Rs 1,265 crores.

SEBI imposed Rs 1 crore penalty on HDFC Bank for non-compliance of interim order.

IT firm Mphasis has reported a 10.8% increase in consolidated net profit to Rs 325.5 crore for the December 2020 quarter.

Bajaj Auto has reported a 23% jump in net profits at Rs 1,556 crore for Q3, as a result of higher sales and exports.

The Multi Commodity Exchange of India (MCX) reported a 29.20% rise in its net profits to Rs 71.80 crore for Q3.

IIFL Securities has reported a 9% increase in profit after tax at Rs 50.59 crore for Q3.

SBI Card and Payment Services has reported a 52% fall in net profit to Rs 210 crore in Q3 on higher provisioning for bad loans. Market share of the company has increased from 18.7% to 18.8%. 

Prices of petroleum have again touched a new high, with retail sales at Rs 92.04 per litre in Mumbai and Rs 85.54 in Delhi. Oil marketing companies in focus.

Major Q3 results to be announced today:

  • Reliance Industries
  • YES Bank
  • JSW Steel
  • HDFC Life
  • SBI Life
  • Apollo Hospitals
  • Gland Pharma
  • Crompton Greaves
  • L&T Finance
  • Oberoi Realty
  • Indian Bank

What to expect today?

NIFTY was in extreme consolidation at around 14,750 before it fell heavily to 14,550 levels. You can read all about yesterday’s movements here.

Bank Nifty was even more weak and fell nearly 900 points yesterday. HDFC Bank was weak from the morning itself. The support at 32,000 was tested again.

NIFTY AUTO did well yesterday, again thanks to the crazy Tata Motors.

Markets seem to be consolidating now after Biden’s smooth and positive swearing in. 

Europe closed lower. US markets closed flat. NASDAQ is slightly up because of good results from tech majors. Asian markets are mostly down. SGX NIFTY is trading flat at 14,595,, indicating a flat opening in the Indian Market. 

So we missed volatility on Tuesday and Wednesday, and it rightly kicked in yesterday. India VIX shot up from 20 to 23 towards yesterday’s closing.

NIFTY is expected to consolidate within yesterday’s levels today. That is, between 14,500 and 14,700. The trend of NIFTY will depend on which of these levels are broken. Today will definitely set tone for the remaining trend of this month, which has only 4 trading days left after today. 

Highest Call Open Interest at 14,700, followed by 14,600, 14,750, 14,800 etc. Highest Put Open Interest at 14,500, followed by 14,000. 

Foreign institutional investors (FIIs) net bought shares worth Rs 1614 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 1039 crore in the Indian equity market.

Reliance has regained strength. Results to be announced today. It has to be in focus. Hope all of you made profits in Reliance yesterday. Do let me know in the comment section.

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