MARKETS LIVE: Q3 results\, US-China trade relations\, Brexit to steer indices

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

Catch all the live market action here

SI Reporter  |  New Delhi 

The ongoing December quarter earnings, developments around US-China trade relations and Brexit are likely to steer the indices this week. This apart, investors will also keep tabs on movement in currency, crude oil and the annual World Economic Forum in Davos which is scheduled from January 22 to 25.

Shares of Wipro will be in focus as the company on Friday post market hours reported a 30 per cent YoY jump in its net profit at Rs 2,510.4 crore for October-December quarter of FY19. Also, investors will watch out for HDFC Bank as the private lender on Saturday reported a 20.3 per cent increase in net profit to Rs 5,586 crore for the December quarter.

Earnings this week

Around 200 BSE companies including HUDCO, Union Bank, Indigo, Reliance Communication, Vijaya Bank, PNB Housing, Bharti Infratel, Ultra Cement, DHFL, Maruti, Larsen and Toubro, Yes Bank, Asian Paints, ITC are slated to announce their December quarter earnings this week.

Rupee

The rupee on Friday weakened by 16 paise to close at 71.19 against the US dollar amid rise in demand for the greenback from exporters and unabated increase in global crude oil prices.

Global Markets

Asian markets were in limbo early on Monday ahead of data likely to show the Chinese economy slowed at the end of last year, underlining the urgent need for more stimulus as Beijing wrestles with the United States over trade. Investors are also waiting to hear British Prime Minister Theresa May’s ‘Plan B’ for Brexit which is due to be presented to parliament later on Monday.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade, after rising 1.6 per cent last week. Japan's Nikkei added 0.7 per cent, helped by a recent pullback in the yen.

On Wall Street, the Dow Jones Industrial Average rose 123.95 points, or 0.49 per cent, to 25,413.22, the S&P 500 gained 6.07 points, or 0.22 per cent, to 2,736.27 and the Nasdaq Composite dropped 11.16 points, or 0.15 per cent, to 7,247.87.

Oil Prices

Oil prices dipped on Monday, weighed down by expectations that China will report its weakest economic growth in almost three decades amid waning domestic demand and painful US tariffs.

International Brent crude oil futures were at $62.30 per barrel, down 40 cents, or 0.6 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were down 37 cents, or 0.7 per cent, at $53.43 a barrel.

(with Reuters input)
MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

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MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

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MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

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MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

Rupee Opening   Rupee opens at 71.36 per US dollar vs 71.18/$ on Friday

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

Buy HDFC for a target of Rs 2170, SL of Rs 1950: Prabhudas Lilladher BUY HDFC LTD CMP: Rs 2,006.85 TARGET: Rs 2,170 STOP LOSS: Rs 1,950   The stock has been consolidating for quite some time gathering strength and is on the verge of a breakout to signify fresh upward movement in the coming days. The chart looks attractive and with favourable indicators supporting, the stock is poised for an upmove. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 2170 keeping a stop loss of 1950. READ MORE

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

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MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

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MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

L&T, Union Bank, Hindustan Zinc and HDFC Bank among top stocks to watch HDFC Bank: Private lender HDFC Bank on Saturday reported a 20.3 per cent increase in net profit to Rs 5,586 crore for the December quarter. The bank met profit estimates on the back of healthy growth in net interest income and a higher growth in other income. L&T: Market regulator Sebi has denied approval to Larsen & Toubro’s (L&T’s) Rs 9,000 crore share buyback plan, citing compliance issues over its post-buyback debt-equity ratio. Click here to read more

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

Oil check Oil prices dipped on Monday as China reported its weakest annual economic growth in 28 years, although oil prices remain relatively well supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). International Brent crude oil futures were at $62.57 per barrel, down 13 cents, or 0.2 per cent, from their last close.  US West Texas Intermediate (WTI) crude futures were down 11 cents, or 0.2 per cent, at $53.69 a barrel.

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

Rupee check   The rupee on Friday weakened by 16 paise to close at 71.19 against the US dollar amid rise in demand for the greenback from exporters and unabated increase in global crude oil prices.  

MARKETS LIVE: Q3 results, US-China trade relations, Brexit to steer indices

SGX Nifty   Nifty futures on Singapore Exchange (SGX) were trading at 10,955, up 20 points or 0.18 per cent in early trade.
First Published: Mon, January 21 2019. 08:16 IST