The markets remained in a very defined trading range and stayed decisively below key levels. The trading range widened a bit; the Nifty oscillated in 449.45 points before closing towards its lower end of the range. The volatility increased; the India VIX inched higher by 6.33% to 16.75 and stayed at elevated levels.
The market experienced a downturn driven by a sell-on-rally trend, with realty stocks significantly impacted. Analyst Sudeep Shah from SBI Securities shared insights, highlighting concerns due to sustained bearish pressure on the Nifty index and significant FII selling. Despite this, the IT sector shows promise, and large-caps offer some stability amidst market volatility.
ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter.
Shares of companies like Wipro, Coforge, and Persistent Systems are set to gain attention due to upcoming corporate actions such as dividends, bonus shares, and stock splits. These actions have record dates this week, including interim dividends announced by Tanla Platforms, KEI Industries, and Bharat Petroleum among others, affecting investor eligibility and engagement.
In the five trading sessions leading up to January 24, the Sensex fell by approximately 0.56%, or 429 points, ending at 76,190. However, the index rose in three of those five sessions. ETMarkets identified seven stocks with a market capitalization exceeding Rs 1,000 crore that showed consistent price increases during this period. (Data Source: ACE Equity)
Rupak De, Senior Technical Analyst at LKP Securities, anticipates Nifty may end January with a loss, marking a fourth consecutive month of correction, a rare event in 23 years. With major events like the budget ahead, non-directional strategies are recommended. He suggests buying Britannia, Macrotech, and InfoEdge in the budget week.
Next week, the primary market will see two new IPOs, including Dr Agarwal's Health Care and SME segment's Malpani Pipes And Fittings. Dr Agarwal's aims to raise up to Rs 3,027.26 crore, while Malpani Pipes targets nearly Rs 26 crore. Additionally, six listings, including Denta Water, which had a massive oversubscription, are expected.
Mutual funds have been actively adjusting their portfolios in the third quarter (Q3) of FY25, increasing their stake in several large-cap stocks within the Nifty200 index. Based on StockEdge data, here are 10 such stocks where mutual funds increased their holdings in the December quarter of FY25:
On February 1st, the Finance Minister will unveil the national Budget detailing finance strategies. This year, anticipated personal income tax reforms could alleviate tax burdens and encourage compliance. Additionally, significant divestments in public sector enterprises might counterbalance revenue shortfalls and stimulate market optimism.
