You are here: Home » Markets » News
Business Standard

Market Ahead, January 25: Top factors that could guide markets this week

The plan to revive the state-owned telecom companies BSNL and MTNL by merging the two entities is set to be shelved after almost two decades of deliberations on the matter

Topics
Market Ahead | Markets

BS Web Team  |  New Delhi 

Domestic took a breather last week and ended marginally lower amid volatility. The historic week for BSE Sensex wherein it scaled 50,000 did not end well as it shed 156 points in the five days ended Friday. Its NSE counterpart Nifty, meanwhile, lost 62 points.

Going into the holiday-shortened week, may continue to remain volatile amid monthly derivatives expiry, quarterly earnings and the upcoming Union Budget. Dalal Street would remain closed for trading on Tuesday for the Republic Day holiday.

When the will open today, they'd react to the December quarter results announced by index heavyweight Reliance Industries which saw its profit jump 12.5 per cent YoY to Rs 13,101 crore during the said quarter.

Besides that, some 375 companies are set to announce their December quarter numbers this week, such as Kotak Mahindra Bank, Larsen & Toubro, Axis Bank, HUL, Maruti Suzuki, Dr Reddy's Labs, IndusInd Bank, IOC, Sun Pharma, Tata Motors, Tech Mahindra, Vedanta and ICICI Bank to name a few.

Meanwhile, on the global front, the Fed monetary policy outcome is due this week. Investors are hoping Fed Chair Jerome Powell will provide reassurance after Wednesday’s policy meeting that $120 billion of monthly bond purchases won’t be tapered any time soon. On the macroeconomic front, investors would also eye the US jobless claims and GDP data, slated to be out on January 28.

That apart, investors will closely track the spread of Covid infections and the deployment of the vaccine. China also started reporting new strain of Covid-19 cases and as a result, imposed partial lockdown in Beijing last week. Meanwhile, the US and several European countries continued to struggle with the Covid-19 crisis.

However, in India, the situation is relatively stable with vaccine drive going smoothly and recovery rate at 96.81 per cent.

Moreover, global cues and movement in crude oil prices, rupee and FII inflows would also influence market sentiment.

Lastly, apart from mainboard indices, action in the primary market would also remain high. Home First Finance IPO that has been subscribed 2.2 times so far will remain open for one more day today. Besides, Stove Kraft's Rs 413-crore share sale will open for subscription today. The price band for the offer has been fixed at Rs 384-385 per share.

And now, let's take a look at the trade setup for today

Asian shares were on the defensive on Monday as rising Covid-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged, Japan’s Nikkei was down 0.1% and Australian shares were up 0.2%.

However, Indian indices looked set for a gap-up start, contrary to the global mood. Nifty futures of Singapore Exchange were up 107 points at 7.40 am.

On the stock-specific front, Larsen & Toubro, Kotak Mahindra Bank, Aarti Drugs, APL Apollo Tubes, Astec Lifesciences, Can Fin Homes, Chennai Petroleum Corporation and ICICI Securities are among 41 firms slated to announce their December quarter numbers today. Larsen and Toubro is expected to report a strong sequential rebound in performance on the back of a healthy order inflow across verticals.

Grasim Industries said it will enter paints business and invest Rs 5,000 crore over the next three years.

The plan to revive the state-owned telecom companies BSNL and MTNL by merging the two entities is set to be shelved after almost two decades of deliberations on the matter, according to a Business Standard report.

UltraTech Cement reported a consolidated profit of Rs 1,584 crore in Q3FY21, up 122 per cent year-on-year.

Yes Bank reported a profit of Rs 150.7 crore in Q3FY21 against a loss of Rs 18,560 crore in Q3FY20. Net interest income jumped to Rs 2,560.4 crore from Rs 1,064.7 crore YoY.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, January 25 2021. 08:09 IST
RECOMMENDED FOR YOU
.