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FIIs & DIIs start selling together! Correction or reversal?

Good Morning, Everyone, Nifty fell for the second consecutive day and both FIIs and DIIs have turned net sellers in the market. Worries of rising inflation and central banks from all over the world working on increasing the interest rates have been spooking investors across the globe.

Will the fall continue today?

We have to see how the market reacts today. Any fall below 17750 will be considered as a reversal for the short term.

Any move upwards will face resistance at 18000 now.

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Look at those big red candles on the daily time frame, which shows how strong the bears are now in the market. We might see every rise to be sold into in this period.

Global Markets:

Stocks continued to dive on Wall Street Wednesday as investors reviewed the latest corporate earnings and prepared for higher bond yields. S&P 500 and the Dow Jones fell 1 percent, each and the tech-heavy Nasdaq declined over 1.2 percent.

The US Federal Reserve will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by economists polled by Reuters as the biggest threat to the US economy over the coming year.

Encouraged by the apparent lower severity of the Omicron variant, governments and central banks around the world are attempting to push their economies back into some version of normality. Fed Chair Jerome Powell said recently he sees an economy that "functions right through these waves of COVID-19".

Asian shares were trading mixed Thursday following a sell-off on Wall Street. MSCI's broadest index of Asia-Pacific shares ex-Japan surged half a percent. Shares in Japan declined by 1 percent. Chinese blue chips were flat as China’s central bank slashed key lending rates. Hong Kong’s HSI rose over half a percent. South Korea’s Kospi was down 0.35 percent. Elsewhere in Australia, stocks slumped nearly 0.4 percent.

Indian Market:

Trends on the SGX Nifty indicate a flat start to the Nifty.

Badrinivas NC, Head - Markets and Security Services at Citi South Asia, has predicted 8.3 percent growth for next fiscal and 6 percent for the year after that.

Oil prices settled higher on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short-term supply outlook. On Thursday, however, indices corrected over 1 percent with the Brent crude at $87.60 and the US oil at $86.

The rupee rose 14 paise to close higher for the first time in four days at 74.44, in line with positive Asian peers. Meanwhile, the dollar index fell 0.11 percent to 95.62.

The government on Wednesday approved a sanction of Rs 973.74 crore to the State Bank of India (SBI) as reimbursement related to the loan moratorium that was implemented in 2020 amid the pandemic.

Digital payments across the country registered a growth of nearly 40 percent in a year through September 2021, as per the RBI's latest index that measures the adoption of online transactions.

Results today

Hindustan Unilever, Biocon, Asian Paints, Bajaj Finserv, Havells India, Persistent Systems, PNB Housing Finance, Agro Tech Foods, Bajaj Holdings & Investment, Century Textiles & Industries, Container Corporation Of India, Cyient, Datamatics Global Services, Hatsun Agro Product, Lyka Labs, Bank Of Maharashtra, Mphasis, Reliance Industrial Infrastructure, Sasken Technologies, Shoppers Stop, South Indian Bank, Vimta Labs and VST Industries are going to announce their quarterly numbers on January 20.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 2,704.77 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 195.07 crore in the Indian equity market on January 19

Stock Specific News:

Bajaj Auto Ltd: The company reported continuing strong exports with average monthly volumes in excess of 2,19,000 units. In its quarterly earnings report released on Wednesday, the automaker said it exported a record 2.5 million units for the calendar year 2021.

ICICI Lombard: The country's largest private-sector non-life insurer ICICI Lombard General Insurance on Wednesday reported a modest 1.27 percent year-on-year increase in its profit after tax (PAT) in the quarter ended December 31, 2021. In its quarterly earnings report, the insurer reported a PAT of Rs 318 crore as against Rs 314 crore in the corresponding quarter the previous year.

Tata Communications | The company's net profit was down 7 percent at Rs 395.21 crore in Q3FY22 against Rs 425.38 crore in Q3FY21 and revenue was up at Rs 4,184.89 crore versus Rs 4,174.02 crore, QoQ.

HCL Technologies | The company appointed Prabhakar Appana as Senior Vice President and the Global Head of its AWS Ecosystem Business Unit.

Rallis India | The company's officials will meet analysts and investors on January 20. The company also reported a 30 percent fall in consolidated net profit of Rs 39.56 crore in Q3FY22 versus Rs 56.49 crore in Q3FY21, and revenue was down 13 percent at Rs 628.08 crore against Rs 727.80 crore, QoQ

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