Stock Markets Today, January 21, 2025: India stock markets today are expected to track the December quarter earnings, back home, and movement in the global markets to traverse through the day.
At 7:05 AM, GIFT Nifty futures were 10 points higher at 23,410 levels.
Most Asia-Pacific markets started higher on Tuesday, January 21, as investors assessed US’ 47th President, Donald Trump’s, inaugural speech.
Japan’s benchmark Nikkei 225 started the day up 0.52 per cent, South Korea’s Kospi began trading 0.97% higher, Australia’s S&P/ASX 200 advanced 1.2 per cent.
Futures for Hong Kong’s Hang Seng index last traded at 20,278, pointing to a stronger open compared to the HSI’s close of 19,925.81.
Also Read
Overnight, US markets were closed for Martin Luther King Jr public holiday. Futures tied to the S&P 500, however, gained 0.5 per cent this morning, while Nasdaq 100 futures ticked up 0.6 per cent, and Dow Jones Industrial Average futures 0.5 per cent.
Indian markets, too, closed on a positive note on Monday with the 30-share Sensex gaining 454 points or 0.59 per cent to settle at 77,073.44. NSE Nifty50 settled at 23,344.75, with gains of 141 points or 0.61 per cent.
Donald Trump Inauguration
Monday evening, Republican leader Donald Trump took oath as the 47th President of the United States.
Addressing the gathering after taking oath, Trump said that golden age of America has begun. America will be far stronger from now on. Our mandate is to reverse a complete betrayal." "From this moment on, America's decline is over. We will restore the dignity of the country," he said. READ HERE
Later, Trump signed several significant executive orders, including withdrawal from the Paris Climate Agreement, before a live audience of around 20,000 supporters at the Capital One Arena in Washington.
US President Inauguration and Indian stock markets
Meanwhile, history suggests that the 12-month return for both US and Indian equities after the presidential inauguration day have been positive.
The average one-year return for the benchmark Nifty 50 and US' Dow Jones after the previous nine inauguration days is around 30 per cent and 16 per cent, respectively, data compiled by BS Research Bureau shows. READ MORE
Market Triggers: Stock Markets Prediction Today, Jan 21
Stock-specific action, in the light of Q3 results, coupled with FII/FPI activity, oil price movement, and bond yield movement will guide the markets today.
On Monday, FIIs/FPIs net sold India stocks worth Rs 4,336.54 crore. Thus far in January, FPIs have sold stocks worth Rs 48,023 crore.
DIIs, meanwhile, net bought equities worth Rs 4,321.96 crore on Monday.
Q3 Results Today, Jan 21:
Thirty-two companies are scheduled to announce their Q3FY25 results today. These include, Aditya Birla Real Estate, Cyient DLM, Dalmia Bharat, ICICI Prudential Life, IndiaMART InterMESH, Indoco Remedies, PNB Housing Finance, Rossari Biotech, Tanla Platforms, Tata Tech, and Uco Bank.
Investors will also react to the Q3 results announced by Zomato, Dixon Technologies, MCX, Oberoi Realty, J&K Bank, and IDBI Bank announced after market hours on Monday.
IPOs Today
The allotment of Stallion India Fluorochemical IPO will be finalised today. The Rs 199-crore IPO was subscribed 188.32 times. The public issue subscribed 96.81 times in the retail category, 172.93 times in QIB, and 422.35 times in the NII category.
In the SME category, Landmark Immigration Consultants IPO allotment will be finalised today.
That apart, EMA Partners IPO will close for subscription today, while CapitalNumbers Infotech IPO will enter its second day of subscription today.
Stock Market News
In other developments, Hyundai Motor India, Swiggy, Bharat Petroleum Corp (BPCL), Britannia Industries, CG Power and Industrial Solutions, Indian Hotels, and Polycab India are seen making it to the Nifty Next 50 index during the rebalancing exercise slated for next month. READ MORE
Separately, with dollar short positions rising in the non-deliverable forwards (NDF) market, the Reserve Bank of India (RBI) could introduce longer-tenure buy-sell dollar-rupee swaps to address the current liquidity situation. READ HERE
On the regulatory front, the Securities and Exchange Board of India (Sebi) is considering several key changes in a bid to expand the scope of the social stock exchange (SSE). These include broadening the list of structures that can be recognised as non-profit organisations (NPOs), extending the validity period for registration, and revising the list of eligible activities to qualify as social enterprises.
How to trade Nifty today? Key levels to watch on Sensex today?
Om Mehra, Technical Analyst, SAMCO Securities:
On the daily chart, the Nifty index formed a bullish hammer pattern on Monday, suggesting a potential change in trend. After a phase of consolidation and base formation around the 23,150–23,200 zone, the Nifty appears to be gathering momentum for an upward move.
The RSI on the hourly chart has rebounded from lower levels, showing a positive divergence that further strengthens the bullish outlook. The MACD momentum indicator, with its narrowing histogram, suggests a reduction in bearish pressure, indicating the potential for consolidation or a minor pullback.
Nifty is approaching the resistance zone at 23,400. A breakout above this level could open the door for an extended rally toward 23,550–23,570 levels, further confirming bullish momentum.
Rupak De, Senior Technical Analyst, LKP Securities:
In the short term, the Nifty index might rise towards 23,450. A decisive move above 23,450 could trigger a rally towards 23,800/24,000. Support on the lower end is placed at 23,150.
Shrikant Chouhan, Head Equity Research, Kotak Securities:
On daily and intraday charts, markets have formed a higher bottom formation, which supports a further uptrend from the current levels.
We are of the view that 23,170/76,600 will act as a key support zone for day traders on Nifty/Sensex. If it sustains above this level, it could bounce back to 23,450-23,500/77,300-77,500. However, if it falls below 23,170/76,600, the uptrend would be vulnerable. Below this level, traders may prefer to exit their long positions.