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MARKETS: Weak start on cards; IRFC IPO opens today; HDFC Bk, DHFL in focus

Stock market LIVE updates: The three-day initial public offer (IPO) of Indian Railway Finance Corporation (IRFC) will open today, and will culminate on Wednesday, January 20

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MARKET LIVE | Markets | HDFC Bank

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets Loss
Stock markets LIVE updates: The Indian equity markets are likely to begin the weak on a weak note amid sell-off in global markets. At 7:45 am, SGX Nifty was trading at 14,421 levels, down 38 points

Among individual stocks, investors would first react to HDFC Bank's Q3FY21 results, released over the weekend. India’s largest private sector lender HDFC Bank has recorded an 18 per cent rise in net profit at Rs 8,758.3 crore in the December quarter of the current fiscal year (Q3FY21), driven by robust growth in net interest income and other income. READ MORE

That apart, market participants will also keep tracking latest developments and trends on the Covid-19 pandemic front, especially the pace of the vaccine rollout programme that kicked off on January 16 in the country and for signs of any adverse reactions from the vaccine.

Earnings today

Mindtree, IndiaMart, Rallis India and 18 other companies will release their Q3 numbers today.

IPO Alert

The three-day initial public offer (IPO) of Indian Railway Finance Corporation (IRFC) will open today, and will culminate on Wednesday, January 20. Attractive valuation, healthy return-ratios, expectations to post strong growth, relatively low risk business model, strategic role in financing growth of Indian Railways, and long term prospects considering electrification and network expansion make analysts optimistic on the long-term prospects for IRFC. READ MORE

Global cues

Asian share markets retreated from highs on Monday as disappointing news on US 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. E-Mini futures for the S&P 500 dipped 0.3%, though Wall Street will be closed on Monday for Martin Luther King Jr. holiday.

(With inputs from Reuters)

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