The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 47 points loss.
The BSE Sensex corrected 549.49 points to close at 49,034.67 on January 15 while the Nifty50 declined 161.90 points to 14,433.70
According to pivot charts, the key support levels for the Nifty are placed at 14,321.83, followed by 14,209.97. If the index moves up, the key resistance levels to watch out for are 14,581.53 and 14,729.37.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
Wall Street’s main indexes finished lower on Friday, weighed down by big U.S. banks after their earnings reports, while the energy fell sharply due to a regulatory probe into Exxon Mobil Corp.
The Dow Jones Industrial Average fell 177.26 points, or 0.57%, to 30,814.26, the S&P 500 lost 27.29 points, or 0.72%, to 3,768.25 and the Nasdaq Composite dropped 114.14 points, or 0.87%, to 12,998.50.
Asian Markets
Asian share markets retreated from highs on Monday as disappointing news on U.S. consumer spending tempered risk sentiment ahead of a closely-watched reading on the health of the Chinese economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3% having hit a string of record peaks in recent weeks. Japan’s Nikkei slipped 1% and away from a 30-year high.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 47 points loss. The Nifty futures were trading at 14,411 on the Singaporean Exchange around 07:30 hours IST.
Bank credit grows 3.2% to Rs 107.05 lakh crore in first nine months of FY21
Bank credit grew 3.2 percent to Rs 107.05 lakh crore in the first nine months of the current financial year, against a growth of 2.7 percent registered in the corresponding period of 2019-20. In the fortnight ended March 27, 2020, bank advances stood at Rs 103.72 lakh crore.
Bank deposits rose 8.5 percent to Rs 147.27 lakh crore in the April-December 2020 period as against an increase of 5.1 percent a year ago, according to the recent data released by the Reserve Bank of India. The sharp accretion in deposits during the year was due to the safe haven appeal of banks.
Indian Railway Finance Corporation IPO opens today
State-owned Indian Railway Finance Corporation will open its initial public offering for subscription on January 18 and the same will close on January 20. This will be the first IPO in 2021. Indigo Paints is scheduled to launch its IPO in the latter part of the coming week.
The book running lead managers to the issue are DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets.
FPIs invest Rs 14,886 crore in first half of January
Foreign portfolio investors (FPI) put in Rs 14,866 crore in Indian markets in the first half of January with participants expecting strong third-quarter results by companies. As per depositories data, FPIs invested a net Rs 18,490 crore into equities but pulled out Rs 3,624 crore from debt segment between January 1-15.
HDFC Bank Q3 profit jumps 18% to Rs 8,758 crore
HDFC Bank, the country's largest private sector lender, has reported a standalone profit of Rs 8,758.3 crore for the quarter ended December 2020, rising 18.1 percent year-on-year, thus beating the CNBC-TV18 poll estimate which was pegged at Rs 8,264.8 crore. The growth was led by non-interest income and pre-provision operating profit with improved asset quality performance.
Its net interest income grew by 15.1 percent to Rs 16,317.6 crore in Q3FY21, compared to the corresponding period, driven by advances growth of 15.6 percent, and a core net interest margin for the quarter of 4.2 percent. The NII was below the CNBC-TV18 poll estimate of Rs 16,370.4 crore for the quarter under review.
RBI open to idea of ‘bad bank’ if there is a proposal: Governor
The Reserve Bank of India (RBI) was open to the idea of a bad bank if there were to be a proposal, central bank governor Shaktikanta Das said on January 16.
“If there is a proposal to set up a bad bank, the RBI will look at it,” Das said. “We have regulatory guidelines for ARCs. We are open to look at any proposal to set up a bad bank. If any proposal comes, we are open to examine it,” Das said.
India's forex reserves up by $758 million to lifetime high of $586.082 billion
The country's foreign exchange reserves rose by $758 million to reach a record high of $586.082 billion in the week ended January 8, RBI data showed on Friday. In the previous week ended January 1, the reserves had increased by $4.483 billion to $585.324 billion.
In the reporting week, foreign currency assets (FCAs), a major component of the overall reserves, rose by $150 million to $541.791 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
RBI governor Shaktikanta Das calls for stronger governance structure in banks, NBFCs
Reserve Bank of India governor Shaktikanta Das said banks and non-banking financial companies (NBFCs) need to strengthen the governance structure to ensure larger financial stability in the system. “A good governance structure will have to supported by effective risk management, compliance and assurance mechanism,” the RBI governor said.
Rakesh Jhunjhunwala-backed Nazara Technologies refiles IPO papers with Sebi
Billionaire investor Rakesh Jhunjhunwala-backed Nazara Technologies, a leading India-based diversified gaming and sports media platform, has refiled the draft red herring prospectus with the capital market regulator Sebi on January 14, for its initial public offering.
It had also filed DRHP in February 2018, which was received approval from the Sebi in April 2018, but could not launch the issue. The public issue is a complete offer for sale of 49,65,476 equity shares by promoters and investors.
Results on January 18
Mindtree, Indiabulls Real Estate, IndiaMART InterMESH, IRB Infrastructure Developers, Majesco, Rallis India, Alok Industries, Deccan Gold Mines, Hindustan Media Ventures, Alexander Stamps, I-Power Solutions India, Maharashtra Scooters, Modern Converters, Sagarsoft (India), Shree Ganesh Remedies, Shakti Pumps, Snowman Logistics, Suraj, Trident, Ultracab (India), Vishwaraj Sugar Industries will announce their quarterly earnings on January 18.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 971.06 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 942.07 crore in the Indian equity market on January 15, as per provisional data available on the NSE.
3 stocks under F&O ban on NSE
BHEL, Vodafone Idea and SAIL are under the F&O ban for January 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
With inputs from Reuters & other agencies