GIFT Nifty Opening Update
GIFT Nifty opened today at 25,869.00. It is down -33.50 points (-0.15%) from yesterday’s close of 25,837.50— so the trend is negative.
The Indian stock market is expected to commence trading on a neutral note on Thursday, influenced by subdued signals from international markets. Asian markets exhibited a mixed performance on Thursday, while US stocks experienced a predominantly lower close overnight, reflecting ongoing selling pressure in technology shares. On Wednesday, the Indian stock market experienced a slight increase, influenced by varied signals from international markets. The Sensex increased by 79 points, representing a 0.09% rise, closing at 83,817.69. Meanwhile, the Nifty 50 saw an uptick of 48 points, equivalent to a 0.19% gain, ending at 25,776.
“Markets exhibited a range-bound trading pattern on Wednesday as investors evaluated the subsequent activity following Tuesday’s robust rally, which was spurred by the India–US trade agreement. Following a stable opening, the Nifty fluctuated within a limited range throughout the trading session, ultimately closing slightly up at 25,779.5. Sectoral trends exhibited a mixed performance, with notable buying interest in auto, metal, and energy stocks. Conversely, the IT index experienced a significant decline, underperforming relative to the broader market. Market breadth exhibited a strong positive trend, bolstered by a continued recovery in midcap and smallcap stocks,” stated Ajit Mishra. Bharti Airtel, Nykaa, Hero Motocorp, LIC, IOC, and Tata Motors Passenger Vehicles are set to attract attention as these companies announce their Q3 results today.
In light of current market conditions – The following stocks could capture investor attention and are anticipated to experience movement today.
Equities to monitor:
- Trent reported a 14.8% rise in revenue for the December quarter, with EBITDA soaring by 27.6% to Rs 1,081.7 crore.
- Tata Power has announced a slight increase in profit, registering a 0.6% rise to Rs 1,194.3 crore, up from Rs 1,187.5 crore in the same period last year. Revenue experienced a significant decline of 9.4%, totaling Rs 13,948.4 crore, compared to Rs 15,391 crore in the same period last year.
- Marico has entered into definitive agreements to make a strategic investment in Cosmix Wellness, which owns Cosmix, a prominent digital-first functional wellness brand in India.
- NHPC – The board has approved the decision to terminate the memorandum of understanding with the Green Energy Development Corporation of Odisha regarding the establishment of a joint venture for the implementation of solar power projects in Odisha.
- Power Grid Corporation of India has disclosed that the Ministry of Corporate Affairs has sanctioned the consolidation of 17 subsidiaries into two distinct entities.
- Cummins reported a decline of 11.9% in net profit year-on-year for the third quarter, with earnings decreasing to Rs 453 crore from Rs 514 crore in the same period last year.
- Sterlite Technologies – The board will convene on February 7 to assess a proposal aimed at raising capital by issuing equity shares, warrants, or convertible securities to the promoters via a preferential allotment.
- NSDL – A total of 149.2 million shares, accounting for 75% of the company’s total outstanding equity, will be available for trading following the expiration of the six-month shareholder lock-in period on Thursday.
- Emami has announced a 15% increase in its consolidated net profit for the December quarter, with earnings rising to Rs 319 crore compared to Rs 279 crore during the corresponding period last year.