BSE Sensex and Nifty 50 were likely to open in red on Thursday, a day of weekly F&O expiry. Nifty futures were trading 72 points or 0.40 per cent down at 17,905.50 on Singaporean Exchange. In the previous session, S&P BSE Sensex ended 656 points to 1.08% lower at 60,098 while the broader NSE Nifty 50 closed 174 points or 0.96% in red at 17,938. Analysts say that volatility is likely to be the hallmark of today’s trade. Sentiments continue to remain depressed after yesterday’s huge losses and most importantly, the fall indicates that the Nifty bulls are vulnerable. “Technically, the Nifty needs to hold above 17900 mark in today’s trade for any meaningful recovery. The technical landscape will turn aggressively bullish only above Nifty 18389 hurdles. Nifty’s intraday hurdle is at 18187 mark. Alternatively, expect a water fall of selling if Nifty slips below 17900 mark,” Prashant Tapse, Vice President (Research) at Mehta Equities, said.
Stocks to watch
HUL, Bajaj Finserv, Biocon: BSE-listed companies such as Hindustan Unilever, Biocon, Asian Paints, Bajaj Finserv, Havells India, Persistent Systems, PNB Housing Finance, Agro Tech Foods, Bajaj Holdings & Investment, Century Textiles & Industries, Container Corporation Of India, Cyient, Datamatics Global Services, Hatsun Agro Product, Lyka Labs, Bank Of Maharashtra, Mphasis, Reliance Industrial Infrastructure, Sasken Technologies, Shoppers Stop, South Indian Bank, Vimta Labs and VST Industries were scheduled to announced their Oct-Dec quarter earnings on Thursday.
Bank of Baroda: Bank of Baroda plans to raise up to Rs 1,000 crore through the issuance of Basel-III compliant Additional Tier-I (AT-1) bonds next week. The offer comprises base issue of Rs 250 crore with a green shoe option to retain oversubscription up to Rs 750 crore. “Bank may increase the amount of issuance as it is still under process,” an arranger said.
ONGC, Oil India: State-owned Oil and Natural Gas Corporation (ONGC) – India’s biggest producer, produced 3 per cent less crude oil at 1.65 million tonnes in December due to delays in mobilising equipment at western offshore fields. Oil India Ltd (OIL) produced 5.4 per cent more crude oil at 2,54,360 tonnes.
VA Tech Wabag: Chennai-headquartered pure-play water technology company VA Tech Wabag is betting big on desalination projects across the globe and it sees growth potential in markets like India, North Africa and West Asia —especially in Saudi Arabia and Egypt — over the next five years.
Sterlite Technologies: Sterlite Technologies reported a loss of Rs 137 crore on account of a one-time provisioning for dues from a customer in the December quarter. The company had posted a profit of Rs 86.64 crore during Q3FY21. Total revenues during the quarter grew 3.12% on-year to Rs 1,370.96 crore.
JSW Energy: JSW Energy’s consolidated operating profit for the October-December quarter of 2021 rose 31% on-year to Rs 790.14 crore on the back of higher short-term (merchant) sales, and lower operations and maintenance cost.
Bajaj Auto: Bajaj Auto: The two-wheeler auto major reported 17 per cent decline in consolidated profit after tax (PAT) at Rs 1,430 crore for the third quarter ended December 31, 2021 on account of lower sales. The company had posted a consolidated PAT of Rs 1,716 crore in October-December period of 2020-21.