SGX Nifty jumps over 100 pts, suggests gap-up start for Sensex, Nifty; 6 things to know before opening bell

Indian share markets benchmarks, BSE Sensex and Nifty 50 are staring at a strong opening on Monday, as indicated by the trends on SGX Nifty. Nifty futures were trading 132.50 points or 0.92 per cent higher at14,489.50 on SIngaprean Exchange. Investors will closely eye developments related to Union Budget 2021, COVID-19 vaccine, stock-specific action induced by corporate earnings, oil prices, rupee movement and other global cues. According to Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, for the next few trading sessions, 14220/48400 should be the sacrosanct level for the trend following traders, if it sustain above the same then uptrend texture likely to continue up to 14600-14750/48800-49100. “Further upside may also be possible that could lift the index till 14855/49450. On the flip side, dismissal of 14220/48400 possibly open another leg of correction till 14125-14000/48100-47600,” he added.

Global watch: Asian stock markets were trading mixed in early trade on Monday with Japan’s Nikkei 225 up 0.4 per cent, while Topix index gained 0.15 per cent. Hong Kong’s Hang Seng index gained about 1 per cent. US stocks indices ended lower in Friday’s overnight trade. The Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.

Home First Finance IPO: Today is the last day to susbcribe the Rs 1,154-crore Home First Finance Company India initial public offer (IPO). The issue comprises a fresh issue of Rs 265 crore and an offer for sale of Rs 888.72 crore by promoters True North Fund V LLP and Aether (Mauritius), investor Bessemer India Capital Holdings II Ltd, and two individual shareholders – PS Jayakumar and Manoj Viswanathan.

Stove Kraft IPO opens today: The Rs 412.62 crore Stove Kraft initial public offer (IPO) is set to open for subscription on Monday, January 25, in the price band of Rs 384-385 apiece. The issue comprises fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of up to 82.50 lakh equity shares.

Holiday-shortened week: Equity markets will remain closed on Tuesday, on account of Republic Day. This holiday-truncated week will see four trading sessions.

Results today: A total of 41 BSE-listed companies including Larsen & Toubro, Kotak Mahindra Bank, ICICI Securities, UCO Bank, Can Fin Homes, Mahindra Holidays, Sharda Corpchem, APL Apollo Tubes, Navin Flourine, among others are slated to announce their third quarter earnings today.

FIIs turned sellers: On Friday, foreign institutional investors (FIIs) offloaded shares worth Rs 635.69 crore, while domestic institutional investors (DIIs) too sold shares worth Rs 1,290.35 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.