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Can Reliance and ICICI hold Nifty from falling further?

Good Morning Everyone, as discussed in the meeting yesterday, We will wait for the effect of the good quarterly results posted by Reliance and ICICI Bank. Though the jitters of the FED meet in the US on Wednesday will be a major event to watch for, This is a great time to start investing in the US on a SIP basis. Those interested in the same can connect with us and we shall help you invest with as low as Rs. 1000 per month.

As far as Nifty is concerned, we can see huge volatility this week because of the major global cues and also the monthly expiry this Thursday in a truncated week due to the Republic day holiday.

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Global Markets:

US stock-index futures made solid gains on Sunday, following the worst week on Wall Street since March 2020. Dow Jones Industrial Average rose about 200 points while S&P 500 and Nasdaq-100 each advanced nearly 1 percent.

The Fed on Wednesday is expected to signal a liftoff in interest rates from March and balance-sheet reduction later this year. Ebbing stimulus is forcing a rethink about the economic and market outlook.

Asian stocks fell on this morning, as traders weighed concerns about tightening Federal Reserve monetary policy. Shares fell in Japan, technology stocks retreated in Hong Kong and China’s market was mixed.

Japan's factory activity grew at the fastest pace in four years in January as output growth picked up, though pressure from a persistent chip shortage, rising input prices and the coronavirus pandemic clouded the outlook.

The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 54.6 from the prior month's final of 54.3 to mark the fastest pace of expansion since January 2018.

Manufacturers reported the fastest increase in output prices since July 2008, suggesting firms were increasingly passing on higher input costs, which continued to rapidly rise.

Oil pushed higher at the open as investors weighed prospects for rising demand as the omicron virus wave fades in key economies. Global benchmark Brent rose toward $89 a barrel after a run of five weekly gains.

Indian Market:

Trends on the SGX Nifty indicate a gap down opening close to 17500, which also can act as major support, which if broken can see major bearishness ahead.

The rupee advanced by 8 paise to close at 74.43 (provisional) against the US dollar on Friday on the back of easing crude oil prices and dollar selling by banks and exporters. However, the rupee's further recovery was restricted by continuous foreign fund outflows and sell-offs in domestic equities, analysts said.

Gold prices edged higher on Friday and were set for a second weekly gain, as safe-haven demand and lower U.S. bond yields lifted the metal's appeal, while investors look forward to a Federal Reserve meeting for clues to its tightening timeline.

The Finance Minister is gearing up to present the third budget amid a global pandemic. Expectations are high and challenges are many. But the main focus remains on how the budget will stimulate consumption, increase investments, job creation, and spur growth. According to a KPMG India survey seeking views of key stakeholders on several tax-related aspects of the upcoming budget, 64 percent of respondents expect an enhancement in the basic income tax exemption limit of Rs 2.5 lakh.

Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) reported a net profit of Rs 20,539 crore in the third quarter of 2021-22, up 37.9% year-on-year as all business verticals saw strong growth, the oil-to-chemical (O2C), telecom, and retail conglomerate said on January 21.

The net profit of the company was boosted by a one-time gain of Rs 2,836 crore from the sale of its upstream shale gas assets in Eagleford in Texas, USA, with which the company exited from the shale gas play in North America. The consolidated revenue for the country’s most valuable company by market capitalization rose 52.2% YoY to Rs 209,823 crore in the quarter. The company said that it clocked record earnings before interest, tax, depreciation, and amortization (EBIDTA) led by its O2C, oil, gas, retail and digital services.

Results Today:

Axis Bank, HDFC Asset Management Company, Apollo Pipes, Apollo Tricoat Tubes, Burger King India, Cera Sanitaryware, Chennai Petroleum Corporation, Craftsman Automation, Deepak Nitrite, Greenpanel Industries, GRM Overseas, Hindustan Fluorocarbons, Indian Energy Exchange, IIFL Securities, IndiaMART InterMESH, Kirloskar Ferrous Industries, Mahindra EPC Irrigation, Meghmani Finechem, Quick Heal Technologies, Music Broadcast, The Ramco Cements, Reliance Home Finance, SBI Cards, and Payment Services, Shemaroo Entertainment, Shiva Cement, Shriram Transport Finance, Steel Strips Wheels, Sudarshan Chemical Industries, Supreme Industries, and Zensar Technologies.

FII and DII data:

Foreign institutional investors (FIIs) net sold shares worth Rs 3,148.58 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 269.36 crore in the Indian equity market on January 21

Stock Specific News:

Ultratech Cement | The company's officials will meet Fidelity International, and Fullerton Fund Management today.

Reliance Industries | The company reported a sharply higher consolidated profit at Rs 20,539 crore in Q3FY22 against Rs 14,894 crore in Q3FY21. Revenue rose to Rs 2,09,823 crore from Rs 1,37,829 crore YoY.

Vodafone Idea | The company posted a loss of Rs 7,230.9 crore in Q3FY22 against a loss of Rs 7,132.3 crore in Q2FY22, revenue rose to Rs 9,717.3 crore from Rs 9,406.4 crore QoQ.

Bandhan Bank | The bank reported a higher profit at Rs 859 crore in Q3FY22 against Rs 632.6 crore in Q3FY21, net interest income rose to Rs 2,124.7 crore from Rs 2,071.7 crore YoY.

Titagarh Wagons | The company's subsidiary in Italy TitagaTrh Firema S.p.A. has signed the framework agreement for design, manufacture, supply, and ten years of maintenance of 38 trainsets of Metro for Lazio Regione, Italy. The total value of the framework agreement is 282 million euros (equivalent to Rs 2,380 crore).

CSB Bank | The bank reported a higher profit at Rs 148.25 crore in Q3FY22 against Rs 53.05 crore in Q3FY21, net interest income increased to Rs 303.34 crore from Rs 251.18 crore YoY.

Tanla Platforms | The company reported a higher profit at Rs 158 crore in Q3FY22 against Rs 93.52 crore in Q3FY21, revenue jumped to Rs 884.92 crore from Rs 654.11 crore YoY.

Arvind Limited | The company's officials will meet analysts and investors on January 27, to discuss financial performance.

Prince Pipes and Fittings | Mirae Asset Mutual Fund acquired 9.6 lakh equity shares in the company via open market transactions on January 13, increasing shareholding to 5.79 percent from 4.92 percent earlier.

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