Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open flat with a positive bias on the first trading day of CY2022. Nifty futures were trading 12.50 points or 0.07 per cent up at 17,452 on Singaporean Exchange in the early trade.The BSE Sensex gained 21% in 2021, the BSE Mid-cap and BSE Small-cap reported gains of 38% and 61%, respectively, indicating a broad-based rally. While NIfty 50 gained 23 per cent in the previous calendar year. Technical analysts believe that the short term trend of Nifty 50 index continues to be positive. “One may expect further upside in the short term. A sustainable move above 17640 is likely to negate the bearish setup and that could open more upside as per daily and weekly timeframe chart. Immediate support is placed at 17260 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
Stocks to watch
Tata Motors: The hiving off and transfer of Tata Motors’ entire passenger vehicle undertaking to Tata Motors Passenger Vehicles Ltd have come into effect from Saturday, the homegrown auto major said on Saturday. In a regulatory filing, Tata Motors said its board at a meeting held on Saturday approved the settling of Rs 9,417 crore payable for the purchase of its passenger vehicle undertaking under the scheme by allotment of 941.7 crore equity shares of Rs 10 each in Tata Motors Passenger Vehicles Ltd to it.
Future Retail: Future Retail said in a late-evening update on Saturday that it has missed its December 31, 2021 deadline to repay its lenders Rs 3,494.56 crore under a one-time restructuring (OTR) plan.
Reliance Industries Ltd: Billionaire Mukesh Ambani’s RIL on Saturday said it will raise as much as USD 5 billion in foreign currency-denominated bonds and use the proceeds to retire existing borrowings. In a stock exchange filing, the company said the Finance Committee of the company board at its meeting on Saturday approved a “proposal for issuance of senior unsecured US Dollar-denominated fixed-rate notes from time to time, for an aggregate amount up to USD 5 billion, in one or more tranches”.
NTPC: State-run power giant NTPC is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said. The PXIL is India’s first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.
Maruti Suzuki: Maruti Suzuki India: Maruti Suzuki India reported a four per cent fall in the total wholesales to 1.53 lakh units in December 2021. The company had sold 1.60 lakh units in December 2020.
HDFC Life: HDFC Life Insurance Company announced the completion of the acquisition of Exide Life Insurance Company after receiving all the necessary regulatory approvals. Exide Life will operate as a wholly owned subsidiary of HDFC Life.
Airline stocks: Halting a declining trend of last month, jet fuel or ATF price has been hiked by 2.75 per cent on firming international oil prices. Aviation turbine fuel (ATF) price has been hiked by Rs 2,039.63 per kilolitre, or 2.75 per cent, to Rs 76,062.04 per kl in the national capital, according to a price notification of state-owned fuel retailers. Stocks of InterGlobe Aviation, and Spicejet will remain in focus today