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Trump returned to the White House on Monday with an ambitious agenda spanning trade reform, immigration, tax cuts and deregulation. He did not target China in his inauguration speech nor did he immediately impose tariffs as previously promised, sparking a relief rally in global stocks and a drop in the dollar.

«I think investors are beginning to understand that there are cheaper alternatives which give them similar growth profile, similar earnings growth profile in the medium term but available at far lower valuations,» says Manishi Raychaudhuri, Veteran Investor In Asian Equities. They say that if you are a long-term bull, ETF is the best and the cheapest way to go. So, I am just keeping it very, very, very simple. But your clients would say okay we know that already. Tell us what we do not know. So, what are you telling your clients, your prospective clients that what they do not know in terms of the market links, connections, and valuations? Manishi Raychaudhuri: Well, in the near term I am perhaps telling them not to invest in India, not even in the ETFs. In case you are looking for a parking space for your money, gold is a good alternative. Gold ETFs are what I am doing personally. So, yes, I will elaborate on all these things.

The Fertilisers and Chemicals Travancore Ltd.(up 2.64%), Southern Petrochemicals Industries Corporation Ltd.(up 1.64%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.45%), National Fertilizers Ltd.(up 1.45%), Paradeep Phosphates Ltd.(up 1.14%), Zuari Agro Chemicals Ltd.(up 0.66%), Madras Fertilizers Ltd.(up 0.61%), Coromandel International Ltd.(up 0.33%), Rama Phosphates Ltd.(up 0.22%) and Sikko Industries Ltd.(up 0.21%) were among the top gainers.

Ambuja Cements Ltd. traded 0.32 per cent at Rs 536.20 at 10:17AM (IST) on Tuesday, even as BSE benchmark Sensex 475.95 points to 76597.49. The scrip had settled at Rs 534.45 in the previous session. The stock quoted a 52-week high price of Rs 706.85 and 52-week low of Rs 452.90, respectively. As per BSE data, total traded volume on the counter till 10:17AM (IST) stood at 24133 shares with a turnover of Rs 1.30 crore.

Gopal Snacks Ltd.(up 2.22%), Adani Wilmar Ltd.(up 2.03%), Nakoda Group Of Industries Ltd.(up 1.23%), Dangee Dums Ltd.(up 1.01%), Patanjali Foods Ltd.(up 0.99%), Tata Consumer Products Ltd.(up 0.94%), Colgate-Palmolive(India)Ltd.(up 0.93%), Marico Ltd.(up 0.70%), Vadilal Industries Ltd.(up 0.68%) and Dodla Dairy Ltd.(up 0.66%) were among the top gainers.

MphasiS Ltd. rose 1.0 per cent to Rs 2831.30 in Tuesday's trade. It hit an intraday high of Rs 2852.75 and low of Rs 2813.60, respectively, during the day. The stock quoted a 52-week high price of Rs 3239.55 and low of Rs 2180.05.

«I do not think that if 2018-19 was the playbook, no country sat back and simply said the ones on which the tariffs were imposed and did nothing. Of course, there will be retaliation,» says Jahangir Aziz, JPMorgan. So, last four years and the coming four years would be different. We all know that. What we need to understand, how different? Jahangir Aziz: You are going to see changes in tariff policy, changes in immigration policy, US tax policy, and deregulation. Now, in our view, the immigration and tariffs would come earlier and the ones on regulation and on tax policy come later, not because there is any such magic sequencing, it is simply because the first two are easier to do through executive orders and the latter two are more difficult to do because it requires legislative changes, that is the way we have been thinking .

Marico Ltd. 0.28 per cent to Rs 659.25 at 10:27AM (IST) in Tuesday's trade. The stock has hit a high of Rs 665.05 and low of Rs 658.15 so far during the session. The stock had closed at Rs 657.35 in the previous session. The counter has had a total traded volume of 10324 shares so far with a value of Rs 0.69 crore on the NSE. It traded at a price-to-earnings multiple of 54.07 and a price-to-book ratio of 16.73.

While uncertainty eased slightly, concerns regarding tariffs still lingered in the background, as the traders began to adjust their expectations, betting that even if tariffs were imposed, they would likely be less aggressive, traders said.

Oberoi Realty shares will be in the spotlight on Tuesday, 21 January, after the company reported a 71.70% year-on-year (YoY) increase in net profit for Q3 FY25, reaching Rs 618.38 crore, up from Rs 360.15 crore in Q3 FY24. The Mumbai-based real estate firm's consolidated revenue from operations stood at Rs 1,411.08 crore for Q3 FY25, a 33.92% YoY rise from Rs 1,053.64 crore in Q3 FY24. On a sequential basis, revenue grew by 7%.

buy call on Reliance Industries with a target price of Rs 1,600. The current market price of Reliance Industries is Rs 1306.6. Reliance Industries, incorporated in 1973, is a Large Cap company with a market cap of Rs 1770034.38 crore, operating in the Diversified sector. Reliance Industries' key products/revenue segments include Petrochemicals, Other Services, Oil & Gas, Others and Income from Retailing for the year ending 31-Mar-2024.

Vodafone Idea shares will remain in focus on Tuesday, January 21, after the Supreme Court upheld a Bombay High Court’s order that asked the income tax authorities to refund excess prepaid tax of Rs 1128 crore to the telecom company. Vodafone had sought refund of prepaid taxes with interest amounting to around Rs 1600 crore for the assessment year 2016-17, which comprised of tax deducted at source and advance tax.

Pashupati Advani, Founder, Global Foray, says the Q-comm space is getting bigger because new players are coming in. The moat is there, but not big enough that people cannot approach it. The quick commerce business is supposedly the new play and Blinkit is very strong in that space. Advani does not know what is going to happen, but it is going to be a bit of slugging, a bit of loss. There was no chance that Zomato would continue to chug along at this kind of pace. Of course, there seems to be a one-time adjustment right now, maybe it was on account that ticketing businesses of Paytm that they acquired. I guess with structural stories like Zomato, it is a factor of how much you want to pay for the business, it is all about valuations. Pashupati Advani: I think Zomato has built a moat, but I do not know if the moat is big enough because there have been a whole bunch of new players that are trying to get in and using price, they are taking away, they are chiselling away some of the market share. As they say, the jury is out. We do not know what is going to happen finally. But this space is here to stay. They are getting more efficient. China has been doing 30-minute deliveries. Probably before Covid they were doing it. So, there is no reason why we cannot do 30-minute deliveries on everything. Zomato is definitely a big player and it is here to be in this space.

Dixon Technologies shares will remain in focus on Tuesday, January 21, after the firm reported a 124% jump in its December quarter consolidated net profit at Rs 217 crore versus Rs 97 crore reported in the year ago period. The revenue from operations in Q3FY25 stood at Rs 10,461 crore which was 117% higher from Rs 4,821 crore reported by the company in the corresponding quarter of the previous financial year.

Tata Technologies will report its third quarter later on Tuesday. The company likely had a subdued quarter with flattish revenues and expected decline in the bottomline. JM Financial estimates the revenues to rise by a marginal 0.3% year-on-year (YoY) to Rs 1,301 crore, while another brokerage Kotak Equities sees the same to grow by 0.2% YoY to Rs 1,292 crore.

Stocks that were in focus include names like Tata Technologies, which rose 0.77% and Paytm, which declined 0.7% and Dixon Tech, whose shares jumped 1.72% on Monday.

Stallion India Fluorochemicals IPO received overwhelming response from investors as the issue was subscribed nearly 188 times. This strong demand was led by non-institutional investors and institutional investors, even though retail investors were not too far behind. The share allotment for Stallion India Fluorochemicals will be available for investors late on Tuesday. Investors can check the Laxmi Dental IPO allotment status through BSE and also via the registrar's website.

Tata Technologies, Reliance Power, Cipla, Vodafone Idea, Vedanta among others will be in focus due to various news developments. Tata Technologies, I-Pru Life, Indiamart Shares of Tata Technologies, I-Pru Life and Indiamart will be in focus as the companies will announce their third quarter results today.

Kotak Mahindra Bank and Wipro. Analysts expect the market to trade within a broad range and stock/sector specific action to continue as the Q3 result season is picking up pace. Here's breaking down the pre-market actions:

Asian stocks advanced with US equity futures after President Donald Trump held off from imposing sweeping trade tariffs in his first day in office. Shares climbed from the open in Australia, Japan and South Korea, with the MSCI Asia Pacific Index rising as much as 0.8%. US futures extended their rally from Monday when the cash market was closed. Asian currencies strengthened as Bloomberg’s gauge of the dollar dropped for a second day. Treasuries climbed.

Subscribe to enjoy similar stories. New Delhi: Gross refining margins of Indian oil refiners are likely to shrink going ahead post fresh sanctions on two Russian oil producers and nearly 200 crude-carrying vessels, according to sector experts. Buyers of cheap Russian oil may now have to look at other sources of oil which are unlikely to be offered at discounts, they said.