Bloodbath on the Nifty! Fall to continue?
Good Morning Everyone, I am sure, all of us are worried about our portfolio seeing such a big fall yesterday, which was one of the biggest fall in past few months. However, long term investors don't have to worry at all as this is just a good opportunity to invest in to the right stocks.
Nifty has reached one of its most important support at 17000, which also looks like, it can be broken soon too. But still there is nothing to worry as long as you are not trading in the stock market and just investing.
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Stocks recovered from big early losses on Wall Street Monday as investors jumped in before the closing bell after slumping throughout much of the day as they anticipated inflation-fighting measures from the Federal Reserve and fretted over possible conflict between Russia and Ukraine. S&P 500 and the Dow Jones rose 0.3 percent, each and the tech-heavy Nasdaq surged over half a percent.
Asian shares tumbled Tuesday following a volatile session on Wall Street. MSCI's broadest index of Asia-Pacific shares ex Japan declined over 1 percent. Shares in Japan declined over 1.5 percent. Chinese blue chips were down 0.2 percent. Hong Kong’s HSI was down over 1 percent. South Korea’s Kospi was down 1.6 percent. Elsewhere in Australia, stocks slumped nearly 3 percent.
South Korea's economy expanded at the fastest pace in 11 years in 2021 thanks to a jump in exports and construction activity, tempering declines in capital investment and a slow recovery in the coronavirus-hit service sectors.
Bank of Korea data on Tuesday showed gross domestic product (GDP) expanded 4 percent in 2021, as demand for exports soared.
The BOK expects GDP to grow 3 percent this year as Asia's fourth-largest economy benefits from strength in chips exports and increased public spending, though record local COVID-19 cases this week are a threat to consumption.
Oil prices fell about 2 percent Monday, hit by investor concerns over the possibility of quicker than expected interest-rate hikes by the Federal Reserve. On Tuesday, prices recovered some ground with the Brent crude rising over 0.5 percent at $86.69 and the US oil up 0.3 percent to $83.60.
Bitcoin prices recouped $36,000 Tuesday as it seemed to stabilise after last week’s correction. The coin is up over 1 percent in the last 24 hours, having crashed over 15 percent in the last week. Altcoins were still down with Ether prices down by 2 percent to $2,390.
Trends on the SGX Nifty indicates a gap down opening with a Negative bias, but I have a feeling that we can see Nifty taking some support here and have a small rise and try to take support at 17000. But if that is broken, we can see further fall to 16800 levels.
Maruti Suzuki India, Cipla Allsec Technologies, APL Apollo Tubes, Astec Lifesciences, Best Agrolife, Burnpur Cement, Can Fin Homes, CarTrade Tech, Cosmo Films, Deccan Cements, Emkay Global Financial Services, Federal Bank, Finolex Industries, Indiabulls Real Estate, ICRA, Macrotech Developers, Max India, Pidilite Industries, Raymond, RPG Life Sciences, Skipper, Snowman Logistics, SRF, Star Cement, Sundaram Multi Pap, Swaraj Engines, Symphony, TeamLease Services, Torrent Pharmaceuticals, United Spirits, and Uttam Galva Steels.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 3,751.58 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 74.88 crore in the Indian equity market on January 24
Stock Specific News:
Hero MotoCorp | The company on Monday said its board has approved to invest up to Rs 700 crore in Hero FinCorp Ltd (HFCL). The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature, the two-wheeler major said in a regulatory filing.
Axis Bank | The bank reported a sharp rise in profit at Rs 3,614 crore in Q3FY22 against Rs 1,116.6 crore in Q3FY21. Revenue rose to Rs 8,653.4 crore from Rs 7,372.8 crore YoY.
Burger King India | The company narrowed loss to Rs 15.15 crore in Q3FY22 against a loss of Rs 29 crore in Q3FY21 while revenue jumped to Rs 279.89 crore from Rs 163.19 crore YoY.
Macrotech Developers | The company's officials will meet analysts and investors on January 27 to discuss financial results.
HT Media | The company's officials will meet analysts and investors on January 28, to discuss financial results.
Sudarshan Chemical Industries | The company reported lower profit at Rs 36.38 crore in Q3FY22 against Rs 39.16 crore in Q3FY21, revenue jumped to Rs 601.75 crore from Rs 506.37 crore YoY.
Rane (Madras) Limited | The company reported consolidated revenue of Rs 440.50 crores for the quarter ending December 2021, against Rs 435.20 crore for the previous corresponding quarter, up by 1.2 percent YoY.
Steel Strips Wheels Ltd | The company reported total revenue of Rs 860.52 crores for the December 2021 quarter, against Rs 524.54 crores for the December 2020 quarter, up by 64.05 percent YoY.
Aditya Birla Capital | The company's officials will meet investors and analysts on February 4 to discuss financial results.