Global markets are suggesting Negative signals, so our Indian markets are likely to start with a “GAP-Down” opening today.
Hindustan Unilever, Wipro, and Tech Mahindra are top gainers, while Tata Motors and Reliance Industries are top losers. Healthcare and IT sectors are performing well, with diversification and bond investments recommended to navigate potential volatility.
* Market volatility is expected to remain high, with Nifty experiencing a 0.48% decline and showing no clear directional bias, indicating a cautious short-term outlook.
* The Nifty index faces strong resistance at the 23,300-23,400 level, while bearish sentiment is reinforced by rising open interest in Nifty futures, suggesting a continuation of the bearish trend.
* Denta Water and Infra Solutions IPO has seen a massive subscription of 221 times, driven by strong investor interest in its groundwater recharging projects and solid financial contracts.
* The share allotment is set to be finalized today, with a strong grey market premium (GMP) of Rs 120, indicating a potential listing gain of 41% over the issue price.
Bajaj Housing Finance is expected to report a 31% YoY increase in net profit for Q3, reaching Rs 574 crore, alongside a 24% YoY rise in net interest income to Rs 798 crore.
* The company is projected to achieve a 26% YoY growth in assets under management (AUM), with pre-provision operating profit anticipated to jump 30% YoY to Rs 746 crore.
Adani Power’s Board will meet on January 29 to discuss proposals to double its non-convertible debenture (NCD) issue to Rs 10,000 crore.
* The company is also considering a Qualified Institutional Placement (QIP) to raise an additional Rs 5,000 crore.
