Stock Market Today: GIFT Nifty Indicates a Cautious Start; IndusInd Bank, Lupin in Focus

The Indian stock market ended the session on January 18 in the red amid high volatility. At close, Sensex shed 313.90 points at 71,186 while Nifty shed 96.90 points and ended the session at the 21462 mark.

Among sectors, bank, FMCG, IT, metal, and power are down 0.3-1 percent, while auto, capital goods, healthcare, oil & gas, and realty are up 0.3-0.7 percent.

Around 1253 stocks advanced and 1288 declined while 93 stocks remained unchanged.

GIFT Nifty

GIFT Nifty indicates a flat start for Indian indices with a loss of 4 points.

US Markets

US stocks rallied on Thursday as robust labor market data offered the latest evidence of US economic strength. This comes despite the fact that it could prompt the Federal Reserve hold off on lowering its key policy rate. The Dow Jones Industrial Average rose 202.01 points, or 0.54%, to 37,468.68. The S&P 500 gained 41.73 points, or 0.88%, to 4,780.94. The Nasdaq Composite added 200.03 points, or 1.35%, to 15,055.65, according to a Reuters report.

Also read: Union Bank, GSPL Top 2 Stocks Which Can Give Up To 14% Return

Asian Markets

Japan’s Nikkei led gains in Asia-Pacific markets on Friday as investors assessed the country’s December inflation numbers — the last key data before the Bank of Japan’s first monetary policy meeting of 2023.

Japan’s Nikkei 225 rebounded after two straight days of losses, climbing 1.58%, while the Topix rose 0.9%. South Korea’s Kospi also gained 1.11%, and the small-cap Kosdaq advanced 1.09%. In Australia, the S&P/ASX 200 rose 0.81%. Hong Kong’s Hang Seng index inched up 0.48%.

Earnings on January 19 and January 20

Reliance Industries, Hindustan Unilever, UltraTech Cement, One 97 Communications (Paytm), RBL Bank, Hindustan Zinc, Atul, Central Bank of India, CESC, CreditAccess Grameen, Hatsun Agro Product, HT Media, Sunteck Realty, Tejas Networks, and Websol Energy System

ICICI Bank, Kotak Mahindra Bank, Union Bank of India, IDBI Bank, IDFC First Bank, Indian Renewable Energy Development Agency, Persistent Systems, Aarti Surfactants, Can Fin Homes, Jammu & Kashmir Bank, JK Cement, LKP Securities, Rossari Biotech, Seshasayee Paper & Boards, Sportking India, Tatva Chintan Pharma Chem, and Waaree Renewable Technologies.

Stocks in the news

• IndusInd Bank: The private sector lender reported slightly better-than-expected earnings for the quarter ended December FY24. The standalone net profit grew 17.3 percent on-year to Rs 2,297.9 crore and net interest income rose 17.8 percent to Rs 5,295.6 crore.
• Lupin: The firm has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Febuxostat tablets to launch in the US.
• REC: The Ministry of New and Renewable Energy, Government of India (MNRE) has designated REC as the overall program implementation agency for the rooftop solar (RTS) program of the Ministry.
• Shalby: The company has acquired an 87.26 percent stake in Sanar International Hospitals, Gurugram (PK Healthcare) for Rs 102 crore. This equity stake will be acquired within a period of one month through primary infusions and secondary buy-outs. Its current capacity of 130 beds can be increased to 180 beds by adding capacity.
• Supreme Petrochem: The company will invest Rs 800 crore to establish a plant for the manufacture of polystyrene, expandable polystyrene, and styrenic derivatives in Kamal, Haryana.
• Hindustan Unilever: The FMCG firm has entered into transaction documents for the acquisition of a 27.73 percent stake in the SPV (special purpose vehicle) Transition Sustainable Energy Services One.

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 9,901.56 crore. Domestic institutional investors (DIIs) bought Rs 5,977.12 crore worth of stocks on January 18, provisional data from the NSE showed.

Bulk Deals

• Indian Energy Exchange Ltd: Indus India Fund (Mauritius) Limited sold 50,17,900 shares at Rs 138.08
• Grasim Industries: Citibank NA sold 2,87,500 shares at Rs 310.89

Stock under F&O ban on NSE

The NSE has added Balrampur Chini Mills to the said list.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.