Nifty futures have been trading 35.50 points or .25 per cent down at 14,423 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Monday. Earlier, in the earlier week, the broader Nifty 50 index gained 3.2 per cent although the 30-share index Sensex gained 2.7 per cent. Midcap stocks continued to the outperform the equity benchmarks with the Nifty MidCap one hundred index adding 5.2 per cent. Analysts see US stimulus, earnings season and spending budget expectation could figure out the market place movement. Also, Nifty 50 may well continue to trade with positive bias from right here till Union Budget 2021. “The MSCI Emerging Market Index has broken the pre GFC peak of 1345 seen in 2007. If it sustains above 1350 for one/two more weeks then it would confirm the break-out and go into a new zone,” stated Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities.
Stocks in concentrate today:
HDFC Bank: HDFC Bank reported an 18 per cent on-year development in net profit for the quarter ended December to Rs 8,578 crore on the back of a 15 per cent on-year rise in net interest earnings (NII) to Rs 16,317.6 crore. In other improvement, the bank has notified the stock exchanges of the occurrence of an inadvertent trade by a designated particular person for the duration of restricted period. “Mr. Jimmy Tata, Chief Credit Officer of the Bank had sold 1,400 equity shares of the Bank,” it stated. The Audit Committee of the Bank was notified of this matter.
Mindtree, Indiabulls Real Estate: A total of 21 providers which includes Mindtree, Indiabulls Real Estate, IndiaMART InterMESH, IRB Infrastructure Developers, Majesco, Rallis India, Alok Industries, Shakti Pumps, Snowman Logistics and Trident, amongst other people are set to announce their October-December quarter earnings later in the day today.
RIL: E-commerce main Amazon has written to Sebi once more, and urged the market place regulator Sebi to suspend the overview of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the SEBI Chairman Ajay Tyagi given that late October.
Wipro: IT services main Wipro stated it has completed its Rs 9,500-crore share buyback programme. The buyback saw Azim Premji-affiliated entities tendering 22.89 crore shares worth about Rs 9,156 crore for the duration of the procedure, a regulatory filing stated. “(A total of) 23.75 crore equity shares were bought back under the buyback at a price of Rs 400 per equity share,” it added.
IRFC: The IPO of the PSU firm opens for subscription on Monday, exactly where 178 crore equity shares of the firm will be offered for subscription. Indian Railway Finance Corporation will be the initial IPO of 2021 as it appears to raise Rs 4,633 crore by means of a fresh problem and an offer you for sale (OFS) by the President of India by means of the Ministry of Railways.