Stock Market

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 147 points.

The market today may get direction from heavyweights RIL and ICICI Bank, which posted their earnings on Friday after market hours and Saturday, respectively. The Mukesh Ambani-led company reported a strong 42 per cent YoY jump in consolidated net profit at Rs 18,549 crore for Q3FY22, backed by a 57 per cent growth in consolidated revenue at Rs 1,85,027 crore.

ICICI Bank, on the other hand, posted a 25.4 per cent YoY growth in Q3 standalone net at Rs 6,193.81 crore, on the back of 10.9 per cent increase in total income to Rs 27,069.67 crore.

Further, stocks of Axis Bank, HDFC AMC, Indian Energy Exchange, SBI Cards and Shriram Transport Finance are also likely to be in focus ahead of their respective December quarter earnings.

On Friday, the 30-share benchmark index ended at 59037.18 down by -427.44 points or by -0.72 % and then NSE Nifty was at 17617.15 down by -139.85 points or by -0.79 %. On the global front, The US markets wilted under the selling pressue last week, with Nasdaq posting its biggest weekly loss since March 2020 amid inflation concerns and fears of monetary tightening. On Friday, the Dow Jones slipped 1.3 per cent, the S&P 500 index dropped 1.9 per cent and Nasdaq tumbled 2.7 per cent.

Major markets in Asia this morning were down around a per cent each. Hang Seng, Shanghai Composite and Taiwan were down 0.9 per cent – 1.1 per cent each. Kospi had dropped 1.5 per cent, while Nikkei and Straits Times declined 0.7 per cent and 0.5 per cent, respectively.

Back home, Top traded Volumes on NSE Nifty – Power Grid Corporation of India Ltd. 22132195.00, Tata Motors Ltd. 17946821.00, State Bank of India 16947941.00, ITC Ltd. 16586264.00, Coal India Ltd. 14466758.00, On NSE, total number of shares traded was 32.66 Crore and total turnover stood at Rs. 67892.33 Crore.

On NSE Future and Options, total number of contracts traded in index futures was 523206 with a total turnover of Rs. 47339.57 Crore. Along with this total number of contracts traded in stock futures were 1798308 with a total turnover of Rs. 129679.19 Crore. Total numbers of contracts for index options were 59445245 with a total turnover of Rs. 5455185.78 Crore. and total numbers of contracts for stock options were 4406012 with a total turnover of Rs. 337197.23 Crore.

The FIIs on 21/01/2022 stood as net buyer in equity and debt. Gross equity purchased stood at Rs. 7972.05 Crore and gross debt purchased stood at Rs. 632.45 Crore, while the gross equity sold stood at Rs. 12566.53 Crore and gross debt sold stood at Rs. 589.46 Crore. Therefore, the net investment of equity and debt reported were Rs. -4594.48 Crore and Rs. 42.99