Trade Financial News

AIIMS), Ram Manohar Lohia Hospital in New Delhi have announced a half-day closure of its offices and institutions tomorrow till 2.30 pm as Ram Lalla 'Pran Pratishtha' at Ayodhya will be celebrated across the country. However, all critical clinical services will continue their operations. OPD services in Lady Hardinge Medical College will remain open from 8:00 am to 10:00 am.

Q3 results this week: The usual trading session for the domestic benchmark equity indices, Nifty 50 and Sensex, will resume on January 23, as the markets are closed on Monday, January 22. Investors will be watching a slew of banks' Q3 earnings throughout today's session, as well as the stock reactions of firms like KFin Technologies Ltd, L&T Finance, Pidilite Ind, REC Ltd, IIFL Securities, Zensar Technologies, Axis Bank, JSW Steel Ltd, Indian Energy Exchange Ltd, SBI Life Insurance Company Ltd, Shriram Finance Ltd, Yes Bank and more.

Inflation in Japan slowed for a second month, giving central bankers reason to wait before ending their negative rate policy. While the data support the view the Bank of Japan officials won’t rush into the first rate hike since 2007 when they meet next week, services prices remained elevated and suggest that an eventual normalizing of policy remains on the table. Inflation expectations declined in Europe, while retail sales and consumer sentiment in the US increased.

«Nifty concluded the week at 21,571.80, marking a decline of 323 points from 21,894 levels, on a weekly basis. Pharma, realty, and metal sectors faced selling pressure. Despite persistent attempts to breach crucial resistance, each of them resulted in a sell-off,” Om Mehra, Technical Analyst, at SAMCO Securities said. The market exhibited a consolidative trend within the 21,500-21,750 range, indicative of a sideways movement going ahead, Mehra said, adding that weekly support stands firm at 21,400 levels while the upper Bollinger band poses resistance at 21,850. Factors that are likely to impact movement when markets reopen this week:

Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares. The 30-share BSE Sensex fell by 259.58 points or 0.36 per cent to settle at 71,423.65 as 24 of its components declined and six advanced. The Nifty declined 50.60 points or 0.23 per cent to 21,571.80.

Anshul Saigal, Founder, Saigal Capital, says “one should really focus on bottom-up opportunities, not worry about the market levels, market direction. As long as we have got good companies at reasonable valuations in our portfolios, over the long term, we will be very well-placed. And there is a lot of money to be made in India.” Saigal also says: “We believe that, small banks, PSU banks, that is one space where value unlocking is yet ahead of us. Pharma, which has seen multi-year consolidation is coming out of that consolidation phase. We are quite positive on pharma. Then metals and minerals has seen a significant consolidation and adverse price action. This may look interesting going forward.” Market is at highs. People are looking for undervalued ideas. A section of the market on the consumption side, especially rural tier 2, tier 3 towns, QSR, FMCG as well as some other consumer categories – have underperformed because of inflation. Now that the inflation trajectory has peaked out, can this under-owned part of the market make a comeback? Also what categories would you bet on? Anshul Saigal: Yes, you are absolutely right that this is a market where it is no longer as easy as it was last year to identify opportunities.

Market expert Ajay Bagga says the worst seems to be definitely over for the IT sector but the recovery will be slow. As we saw from the order books and the commentary of sluggish order flows coming through, margins are not that great and expectation is that it could take two to three quarters for things to normalise. What will be critical is how soon can they get onto the bandwagon of things like generative AI and machine learning. Those are the value additions that the market is looking to reward. But the worst is definitely over.” What is the market telling you because the midcap rally continues unabated and some very sharp earnings reactions, be it on the positive side by the IT big boys or on the negative by an HDFC Bank or for that matter, even IndusInd and Unilever? Ajay Bagga: Yes, quite surprising moves, actually, if you see and most of the impact has been due to the FII moves. Rs 23,000 crore worth shares being sold in these first few days, which was a surprise. We were not expecting a selloff by the FIIs and especially not of this magnitude. Maybe it is related to some of the Chinese money or the foreign money invested in China getting withdrawn and we being a collateral damage within GEM funds. Maybe some part of it was that. But I do not think fundamentally the earnings were that bad for the banks or were that good for the IT companies to see such sharp reactions.

Stock Market News: Domestic equity benchmark indices, Nifty 50 and Sensex, ended in red on Saturday's session due to losses led by information technology (IT) firms, Hindustan Unilever, and Reliance Industries. Conversely, private banks saw selective purchasing following the recent strong correction and steady Q3 earnings.

Iran-backed militants in Western Iraq targeting Al-Assad Airbase on 20 January, Saturday, claims US Central Command. Taking to microblogging site X, US CENTCOM posted, “Most of the missiles were intercepted by the base’s air defense systems while others impacted on the base. Damage assessments are ongoing.

Exchange-traded fund experts anticipate spot bitcoin ETFs, which debuted this month, to spark a new wave of crypto products.

₹10 crore as token for damages. “Kewal Kiran Clothing Limited, the makers of “KILLER JEANS" have filed a suit before the Bombay High Court against the makers of the web series “KILLER SOUP" for infringing their Trade Mark “KILLER".

MYRO, the cryptocurrency in question, has witnessed a modest uptick in its valuation. The price of MYRO is currently $0.240028, with trading activity over the last 24 hours reaching $78.63 million. The currency has appreciated by 1.65% within this period.

As the weekend unfolds, Bitcoin (BTC) has seen a notable uptick, trading at $41,700 with nearly 1.40% increase on Saturday. Despite this positive momentum, skepticism remains as The New York Times maintains a cautious stance on Bitcoin’s prospects. Adding to the wary outlook, the RBI Governor has flagged cryptocurrencies as a risk to the stability of the Indian Rupee, urging investors to proceed with caution.

₹3,005 crore, below Bloomberg analysts' expectations of ₹3,163 crore. The bank's net interest income, the difference between interest earned and interest expended, rose nearly 16% year-on-year to ₹6,553 crore. Provisions and contingencies increased to ₹579 crore at the end of December quarter from ₹149 crore a year ago.

Dividend Stocks: Shares of some companies, including Wipro Ltd, Angel One, Mastek, and few others will others will trade ex-dividend in the coming week, starting from Tuesday, January 23. Some other companies will also trade ex-split while some have announced a buy back of shares next week. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout.

Aditya Arora of Adlytick, said “in buzzing stocks like RailTel, IRFC and IRCTC, the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because correction is very likely in these counters.” Let us talk about the PSUs. Actually, all these public sector entities, whether you look at a RailTel, RVNL, IRCTC, Tourism Finance, IRFC, all of them are buzzing in trade and the run up that we have seen in these stocks, even in just the last five days, is something that one cannot fathom. What are the charts looking like for any of these names? Aditya Arora: There is good news to back that up as you said RailTel, IRFC, IRCTC, everything is buzzing away. But I think the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because I think correction is very likely in these counters.

Houthis, a Yemeni rebel group, are attacking commercial vessels. As a result far fewer ships are using the Suez Canal, a shortcut from the Indian Ocean to the Mediterranean Sea. The volume of trade passing through the Panama Canal, which connects the Atlantic and Pacific Oceans, has declined by 30% since November, after severe drought hit its reservoirs, lowering the water level.

Also Read- Budget 2024 expectation: Fiscal consolidation to continue in FY25 says BofA However it may still have something in store for investors that they will need to remain watchful for. One key theme which has remained key highlight of the current government is its focus on infrastructure spending and capex.

demat accounts, ATMs, and Credit Cards. In a circular dated 12 January, the Securities and Exchange Board of India (Sebi) has planned to offer the facility of voluntary freezing or blocking of the ‘Trading Accounts’ by clients. SEBI's new security measure will allow customers to voluntarily freeze their trading accounts using various security measures, lowering the likelihood of unlawful trades.

BEIJING (Reuters) — China's coal imports from Australia picked up in 2023 after a ban of nearly two years was lifted, but they remained below pre-ban levels as the supplier tries to regain market share from cheaper competitors Mongolia and Russia.

Kotak Mahindra Bank on Saturday reported a nearly 8% year-on-year (YoY) growth in net profit for the quarter ended December to Rs 3,005 crore, but the figure was lower than the estimated Rs 3,250 crore. Net interest income, the difference between interest earned and interest expended, rose nearly 16% YoY to Rs 6,553 crore. Provisions and contingencies surged to Rs 579 crore from Rs 149 crore a year ago. Pre-provision operating profit increased 19% YoY to Rs 4,566.21 crore but declined nearly 1% sequentially. On the asset quality front, the gross non-performing assets as a percentage of total loans was 1.73% as of December end compared to 1.90% a year ago, and 1.72% a quarter ago. The net non-performing assets ratio was 0.34% as of December end, compared to 0.43% a year ago, and 0.37% a quarter ago. During the quarter, Kotak Bank also made a provision of Rs 143 crore for investments into the Alternate Investment Fund (AIF).