News Shots

The government will sell up to 10% stake in SAIL via offer for sale(OFS) on January 14-15 and the offer price has been fixed at Rs 64 per share, which is at a 13% discount to the current market price(Rs 74).

The Central Government has approved the procurement of 83 indigenously-developed light combat aircraft ‘Tejas’ for the Indian Air Force at a cost of Rs 48,000 crore from Hindustan Aeronautics Limited(HAL).

SEBI has provided an additional two weeks to promoters of IndusInd Bank for infusion of residual capital in connection with the conversion of warrants issued to them last year. It is worth over Rs 2,695 crore.

Infosys posted a 16.6% YoY rise in consolidated net profit at Rs 5,197 crore for Q3FY21, and increased its revenue growth guidance for FY21 to 4.5-5 per cent on the back of large project wins and strong deals.

Wipro posted an about 21% YoY jump in net profit at Rs 2,968 crore for the third quarter, and said the demand environment is improving steadily.

Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram.

Multiplex operator Inox Leisure opened three new multiplexes, taking its total count to 150.

State-owned NHPC inked a definitive agreement for takeover of Rangit-IV hydro power project in Sikkim.

Indian Bank has raised Rs 2,000 crores by issuing bonds.

5Paisa Capital reported a net profit of Rs 3.06 crore in the third quarter ended December 31 compared to a net loss of Rs 2.18 crore in the same period last year.

Yes Bank has announced a tie-up with Aditya Birla Wellness to launch a credit card offering annual complimentary preventive health check-up and on-call consultation with doctors, specialists, counsellors and nutritionists.

What to expect today?

NIFTY, after opening at an all time high at 14,650, was highly volatile. It fell more than 200 points intraday but then later closed at 14,560. You can read all about yesterday’s movements here.

Bank Nifty, which is bullish saved NIFTY. Though Bank Nifty also fell intraday, it gained back the lost points and moved up swifty. Bank Nifty seems to be consolidating around the important level of 32,500.

PSU Banks continued their dream rally yesterday also, moving up by another 3%.

The US and European markets were highly volatile and closed flat. All asian markets are mixed with a slight positive bias. SGX NIFTY is trading higher at 14,590, which is nearly 20 points higher, indicating a flat to gap up opening in the Indian Market. 

The market can be volatile today and should consolidate. Though it is a bull market, I am not expecting NIFTY to give the kind of movement it has been giving in the last few weeks.

India VIX keeps moving higher, which is a sign of more volatility in the market. It is expected to cool down today.

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

Foreign institutional investors (FIIs) net bought shares worth Rs 1,879 crore, and domestic institutional investors (DIIs) net sold shares worth Rs 2,370 crore in the Indian equity market.

Given the weekly expiry, NIFTY should consolidate and expire between 14,500 and 14,650. Yesterday’s high of 14,650 should be highly respected, if NIFTY goes up till there.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!