BSE Sensex and Nifty 50 are poised to open in the green on Thursday, as indicated by the trends in SGX Nifty.
Indian indices tumbled on afternoon trade dragged by weak global markets and selling seen in Metal and Banking indices
BSE Sensex and Nifty 50 are poised to open in the green on Thursday, as indicated by the trends in SGX Nifty. Nifty futures were trading 22.50 points or 0.15 per cent up at 14,595 on Singaporean Exchange. Even as Nifty 50 ended flat Wednesday but at a record high, taking the valuation to an all-time high of 39.94. Markets may hit fresh record highs in today’s session on the back of strong corporate earnings. Investors will keep close tabs on stock-specific actions, COVID-19 vaccine rollout, oil prices, rupee movement and other global cues. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said that 14650 has become an immediate resistance, whereas on the lower side, last two day’s low of 14430 has now become a crucial point. Any sustainable move below this level would provide first sign of weakness. Also, since last few days, markets are seeing some intraday dips and those declines are getting comfortably bought in the last one and half hours of strong buying mode. “Whenever we see this behaviour reversing, traders should immediately lighten up longs,” he said.
Infosys: IT major Infosys posted strong third-quarter numbers where revenues rose 5.5 per cent sequentially to Rs 25,927 crore and net profits increased to Rs 5,197 crore, up 7.3 per cent quarter-on-quarter. The firm increased its revenue guidance for 2020-21 and said that it could increase by 4.5-5.5 per cent in constant currency terms, better than the 2-3 per cent projected earlier.
Wipro: Wipro reported 20.9-per cent on-year growth in consolidated net profit at Rs 2,968 crore for the December quarter, as compared to Rs 2,455.80 crore in the corresponding quarter of the previous year. Company’s consolidated revenue for the quarter stood at Rs 15,670 crore.
Coal India: Coal India Ltd (CIL) has become the topmost spenders among the PSUs furthering its capex for FY21 to Rs 13,000 crore, up 30 per cent, from its earlier Rs 10,000 crore for the fiscal. Of the additional Rs 3,000 crore injected into CIL’s capex, South Eastern Coalfields, CIL’s largest subsidiary, accounts for Rs 800 crore.
SAIL: The government proposed to offload up to 10 per cent stake in SAIL and the offer for sale (OFS) will open on Thursday. “OFS in SAIL opens on Thursday (14.1.2021) for non-retail investors. 15th January (Friday) is for retail investors. GoI would divest 5% equity with a 5% greenshoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.
IndusInd Bank: Capital market regulator Sebi has provided an additional two weeks to promoters of IndusInd Bank for infusion of residual capital in lieu of conversion of warrants issued to them last year worth over Rs 2,695 crore, a filing said.