Experts Financial News

The Nifty future closed negative with losses of 2.01% at 21587 levels on Wednesday. India VIX was up by 11.13% from 13.57 to 15.08 levels. Positive setup was seen in stocks like LTTS, OFSS, Birla Soft, BHEL, Persistent Systems, L&TFH, Lupin, Torrent Pharma, Coforge, Godrej Properties, and IOC. On the weekly options front, the maximum Call OI is placed at 21800 strikes and then towards 22000 strikes while the maximum Put OI is placed at 21500 strikes and then towards 21300 strikes. Call writing is seen at 21800 then 21700 strikes while minor put writing is seen at 21550 then 21400 strikes. “Options data suggests a broader trading range in between 21200 to 22000 zones while an immediate trading range in between 21400 to 21800 zones,” Chandan Taparia, Senior Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a Bearish candle on the daily scale on Wednesday and negated the sequence of higher lows of the last four trading sessions,” he said. “Now till Nifty holds below 21700 zones, weakness could be seen towards 21450 and 21300 zones while on the upside hurdle shifts lower at 21700 and 21850 zones,” recommended Taparia. We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:

Sensex nosedived 1,628 points on Wednesday, marking its biggest single-day slide in more than one-and-a-half years following an intense sell-off in banking, metal and oil shares. The Nifty tanked 460 points to settle at 21,571. Stocks that were in focus included names like HDFC Bank, which fell 8.16%, TV18 Broadcast, which rose 7.58%, and SAIL, whose shares declined 5% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.

diplomats of Iran and the United States sit down for public — and separate — one-on-one chats while the U.N. chief and leaders of France, Argentina and Spain will deliver speeches as the World Economic Forum's annual meeting saunters into a busy second day on Wednesday. The elite gathering in the Swiss ski resort of Davos takes a turn toward the environmental and climate concerns that have animated plea after plea from U.N. Secretary-General Antonio Guterres for the world to come together do take more united action against global warming — after a record-hot year in 2023.

Buy or sell stocks for today: Following weak global market sentiments on disappointing Chinese economic data and geopolitical tension in the Middle East, Indian stock market fell on second day in a row. Nifty 50 index registered biggest intraday fall since 13th June 2022 due to the panic selling across the baord led by banking stocks.

net profit to ₹227 crore for the third quarter ended December 2023. The insurer reported a net profit of ₹220 crore in the year-ago period.

LTIMindtree IT services company LTIMindtree's consolidated net profit rose 17% year-on-year to Rs 1,169 crore for the quarter ended December. Asian Paints Asian Paints reported a 35% year-on-year (YoY) rise in consolidated net profit for the quarter ended December to Rs 1,448 crore. IndusInd Bank, Polycab, JSL Shares of IndusInd Bank, Polycab and JSL will be in focus today as the companies will announce their third quarter results. Read more: Here's the trade setup for today's session Pricol After almost a year of investing in Pricol Ltd, Minda Corporation exited the automotive component maker by selling its entire 15.7% stake through the open market on Wednesday. Speciality Restaurants Speciality Restaurants reported net profit of Rs 13.8 crore in the December quarter. Revenue from operations were at Rs 116 crore. Indiabulls Housing Finance Indiabulls Housing Finance to raise funds up to Rs 5,000 crore through issue of equity shares. Nazara Technologies Nazara Technologies to raise funds up to Rs 250 crore by issuance of 28.66 lakh equity shares at Rs 872.15 apiece. IIFL Finance IIFL Finance posted a net profit of Rs 132 crore in the December quarter.

MUMBAI: The 140.81-crore initial public offering (IPO) of Telangana-based Nova Agritech will open for subscription on January 22 at a price band of 39-41 apiece. The IPO will close on January 25.

Mint. Heidrick & Struggles said three in five respondents were seeking new directors either to overhaul their board or as they needed to hire a new director in 12–18 months. “About three quarters of the respondents cite the retirement of a director as the reason they are undergoing a refresh, and one in two aim to infuse new skill-sets into their boards," stated the study.

The ever-increasing threat of fraud – and the sophistication of methods – requires a robust response from financial institutions.

Asian Paints Ltd consolidated net profit jumped 35% on year to ₹1,447.7 crore in the December quarter helped by a double-growth in volumes and as operating profit got a boost from lower raw material costs. The country’s largest paint-maker’s volume growth of 12% was largely in line with market expectations, while the bottomline was marginally ahead of Street estimates. Consolidated sales, meanwhile, rose by a little over 5% to ₹9,074.9 crore. The company has guided for its volume momentum and the softness in raw material prices sustaining in the current quarter.

FTSE Russell will remove the partly paid rights shares of Grasim Industries from four of its major indices with effect from January 23, following the commencement of trading in its rights entitlement. On January 4, Grasim Industries announced raising Rs 4,000 crore through the rights issue of shares. Following the announcement, FTSE Russell temporarily added the partly paid rights line in its major indices from January 10.

₹19,878 crore. EBITDA, too, saw a healthy 30.2 per cent YoY rise to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5 per cent. RIL is a diversified conglomerate and it operates in various sectors, including energy, petrochemicals, retail, and telecommunications.

HDFC Bank, which is single-handedly responsible for today's market crash, recorded its worst daily performance since May 2020 by falling around 7.9%. Investors in the bluechip lost around Rs 1 lakh crore as the market capitalisation of the Nifty heavyweight fell below Rs 11.75 lakh crore. Following the disappointment in December quarter results, several brokerages have reduced their target prices on the stock which led to the downfall. HDFC Bank's Q3 beat in profit (up 33% YoY to Rs 16,373 crore) was driven mainly by a one-off write-back of Rs 1,500 crore of tax provisions. «While NIM (calculated) at 3.7% was on the mark, it remained flat sequentially on a low base, a contextual disappointment given faster than expected reduction in balance sheet cash and investments. Yields on interest-earning assets stayed flat QoQ despite (i) the drawdown in balance-sheet liquidity and (ii) a reduction of lower-yield wholesale loans in the loan mix. This was the crux of the disappointment,» said Santanu Chakrabarti of BNP Paribas. Also read: HDFC Bank shares at mouth-watering valuation, say contra buyers after $10 billion loss

₹61,901 per 10 grams. Silver prices also fell 0.67% to ₹71,607 per kg. International gold prices hit a near one-week low as the US dollar strengthened, while traders awaited comments from more Fed speakers this week.

MRF, which had hit the Rs 1 lakh share price mark in June last year, hit another milestone of Rs 1.5 lakh on Wednesday after a 10% rally. This is the first time that an Indian stock has achieved this milestone. In Wednesday's trade, MRF stock witnessed a total of 27,248 equity shares worth Rs 384.6 crore changing hands on NSE. Other than MRF's stock, Page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263) and Shree Cement (Rs 26,527) are other highest-priced stocks in India. Nestle was also one of the top expensive stocks in India until the stock split in the 1:10 ratio in early January.

The Nifty Metal index was the second worst performer for the day, behind Nifty Bank and fell 2.5% to the day's low of 7,736.15. In the 15-stock index, 14 were on the losing side. The other major losers were APL Apollo Tubes, Jindal Steel & Power and National Aluminium Company, each down by 3.3% around 2 pm on Wednesday.

Cochin Shipyard, Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL) and Mazagon Dock Shipbuilders defied weak market sentiment on Wednesday, jumping between 4-12 per cent in intraday trade. PSU stocks have been on a tear for the last one year. Data show that shares of IRFC have surged over 300 per cent while those of CPCL, REC, ITI and Power Finance Corporation have jumped between 230-270 per cent.

IPO of Maxposure was booked by a massive 505 times on the last day of the bidding process, led by robust demand from non-institutional and retail investors. The category reserved for NIIs was subscribed 812 times, followed by retail investors at 672 times and QIBs at 30 times. The IPO is completely a fresh equity issue of 61.4 lakh shares and through the issue, the company plans to raise Rs 20.26 crore. The net proceeds from the offer will be used for funding expenses incurred towards various certifications from various regulators, working capital requirements, repayment of debt, and general corporate purposes. Also Read: Epack Durables IPO: Price band, issue size, GMP among 10 things to know before subscribing to the issue Maxposure IPO GMP In line with the subscription demand, the company's shares are fetching a bumper premium of Rs 59 in the unlisted market. The IPO is priced at Rs 33 at the upper end. The IPO is entirely a fresh equity issue of up to 61.4 lakh shares aggregating to Rs 20.26 crore. Maxposure is a diverse new-age media and entertainment company offering 360-degree services across multiple distribution platforms.

Mahila Samman Savings Certificate, a small savings scheme specially for female investors, was introduced during Budget 2023. It is a one-time scheme available for two years, from April 2023-March 2025.

Tube Investments of India Ltd. traded at Rs 3813.65 on BSE at 02:14PM (IST) on Wednesday, down 2.74 per cent from previous close. The stock quoted a 52-week low price of Rs 2375.05 and a high of Rs 4046.9.

Bitcoin did not move much but clutched near the $42,800 mark, whereas Ethereum was comfortable above $2,550 levels amid the jittered sentiment for the digital token market. «On the last day, traders opted for profit booking, causing Bitcoin to come close to the $42,000 mark. However, a rapid bullish phase took over, pushing the price up to $43,500 before settling just below $43,000. Bitcoin's next challenge is at the $43,918 resistance level, while the preceding support level stands at $42,510,» said Edul Patel, CEO of Mudrex. Other top crypto tokens were trading mixed, with minor changes, on Wednesday. Solana, XRP, Cardano, Dogecoin, and Chainlink were trading in the green, while BNB, Polkadot, Tron, Toncoin, Polygon, and Internet Computer were in the red.