After a tumultuous session on Friday, Indian equity indices ended flat, snapping a five-day winning streak amid weak global indications. Benchmark indices began lower and remained in the red for most of the day, as traders were concerned when the United Nations reported that India’s GDP is projected to surge at 6.5% in the year 2022, down from 8.4% estimate in the previous fiscal year.

The Nifty50 has formed a reasonable positive candle at the lows on the daily chart with minor upper and lower shadows, suggesting the emergence of sharp buying on dips, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

“Friday’s low (18,120) could now be considered a new higher low of the sequence. This is a positive indication and one may expect further upside in the near term,” he said.

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Indian Indices

Sensex fell 12.27 points or 0.02% to 61,223.03 and Nifty was down by 2.05 points or 0.01% to 18,255.75 in the previous session. Sensex touched high and low of 61,324.59 and 60,757.03, respectively and there were 12 stocks advancing against 18 stocks declining on the index while Nifty traded in a range of 18,286.95 and 18,119.65 and there were 20 stocks advancing against 30 stocks declining on the index.

Broader Indices

The broader indices ended in green with the BSE Midcap index rising 0.22%, while the Small cap index was up by 0.50%. The top gaining sectoral indices on the BSE were Capital Goods up by 1.43%, Realty up by 1.10%, Industrials up by 1.00%, IT up by 0.95% and TECK up by 0.73%, while Telecom down by 1.20%, FMCG down by 0.60%, Healthcare down by 0.50%, Auto down by 0.35% and Bankex down by 0.35% were the top losing indices on BSE.

Support and Resistance levels

Key support levels for the Nifty are placed at 18,154.7 followed by 18,053.6. If the index moves up, the key resistance levels to watch out for are 18,321.9 and 18,388, according to pivot charts.

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SGX Nifty

The trends on SGX Nifty indicate a negative opening for the index in India with a 33-points loss. The Nifty futures were trading at 18,203.00 on the Singaporean Exchange around 07:00 hours IST.

Asian Markets

Asian markets finished broadly lower on Friday with shares in Japan leading the region. The Nikkei 225 was down 1.28% while China’s Shanghai Composite was off 0.96% and Hong Kong’s Hang Seng was lower by 0.19%.

US Markets

The S&P 500 rose 3.82 points, or 0.1%, to 4,662.85 on Friday while Dow Jones Industrial Average fell 201.81 points, or 0.6%, to 35,911.81. The Nasdaq rose 86.94 points, or 0.6%, to 14,893.75 and the Russell 2000 index of smaller companies rose 3.02 points, or 0.1%, to 2,162.46.

European Markets

European markets finished lower on Friday with shares in Germany leading the region. The DAX was down 0.93% while France’s CAC 40 was off 0.81% and London’s FTSE 100 was lower by 0.28%.

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HCL Q3 profit comes in at Rs 3,442 crore, revenue grows to Rs 22,331 crore

HCL Technologies Ltd. (HCL Tech) on January 14 reported a consolidated net profit of Rs 3,442 crore for the quarter ended December 2021 (Q3FY22) registering a 13.3% year-on-year (YoY) degrowth. On a sequential basis, the profit grew by 5.6%. The company had reported a consolidated profit after tax (PAT) of Rs 3,969 crore in the corresponding quarter last year. In the preceding quarter, PAT stood at Rs 3,259 crore. Its consolidated revenue during the September-December period stood at Rs 22,331 crore, up 15.7% over a year-ago quarter and up by 8.1% from the previous quarter. Consolidated revenue in the corresponding period of last year was Rs 19,302 crore while in the preceding quarter, it was Rs 20,655 crore. Revenue in dollar terms came in at USD 2.98 billion which was up 13.8% on a yearly basis and 6.7% sequentially. Constant currency revenue was up 15% YoY and 7.6% QoQ.

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IOC will invest Rs 7,000 crore in city gas after securing 33% of market potential regions

Indian Oil Corporation (IOC), the nation’s largest oil firm, on Sunday said it will invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round. IOC secured 33% of the demand potential that was up for grabs in the recently concluded 11th round of CGD bidding, cornering cities from Jammu to Madurai to Haldia, the firm said. Of the 61 geographical areas or GAs that received bids in the 11th round city gas distribution (CGD) bidding, IOC got 9 licenses to retail CNG to automobiles and piped cooking gas to households. Though the GAs it won were less than Megha Engineering and Infrastructures Ltd’s 15 licences and Adani Total Gas Ltd’s 14, in the terms of demand potential it got the maximum.

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HDFC Bank Q3 profit rises 18% to Rs 10,342 crore

HDFC Bank on January 15 clocked a standalone net profit of Rs 10,342 crore for the December 2021 quarter, up 18% year-on-year backed by a decline in bad loan provisions. The profit in the corresponding quarter last fiscal was at Rs 8,758.29 crore. Net interest income, the difference between interest earned and interest expended, climbed 13% to Rs 18,444 crore in Q3FY22, with a net interest margin of 4.1% for the quarter, and healthy credit growth of 16.4%. Profit and net interest income grew by 17% and 4.3% on a sequential basis in Q3.

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PB Fintech acquires Visit Internet Services for Rs 22.41 crore

PB Fintech, the parent company of Policybazaar and Paisabazaar, said on January 14 that it has acquired technology services provider Visit Internet Services for Rs 22.41 crore. The acquisition was done through PB Fintech’s subsidiary Docprime Technologies and is the second acquisition after the company listed in November 2021. In December 2021, PB Fintech had announced the acquisition of a majority stake in Gurugram-based loan marketplace MyLoanCare for Rs 40.41 crore. The acquisition of Visit Internet Services will be completed in two tranches, the company said. While it has already acquired a 98.40% stake, the process would be completed in February after PB Fintech’s stake reaches 100% through the secondary acquisition of preference shares.
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Vedanta intends to invest in the Saudi mineral sector

Vedanta Group on Friday said it is exploring investment opportunities in the mineral sector of Saudi Arabia. The company is already in discussions with stakeholders in Saudi Arabia, which is aiming to become a mineral hub in the Middle East, Vedanta said in a statement. “Vedanta plans to invest in the mineral sector in Saudi Arabia. The company is in discussions to identify investment opportunities in Saudi Arabia, which aims to transform itself into a mineral hub in the Middle East,” the statement said. According to the statement, Vedanta Chairman Anil Agarwal on Wednesday attended the ‘Future Minerals Forum 2022’ held in Riyadh as a guest speaker and spoke on huge potential Saudi Arabia has in minerals, including zinc, gold and silver.

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The board of Hero MotoCorp has approved a Rs 420-crore investment in Ather Energy

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, announced on January 14 its new investment of up to Rs 420 crore in Ather Energy. The two-wheeler major’s board has approved the investment in one or more tranches, according to a press release. Prior to the proposed investment, Hero MotoCorp’s shareholding in Ather Energy was 34.8% (on a fully diluted basis). Post the investment, Hero’s shareholding in Ather Energy will increase and the exact shareholding will be determined upon completion of the capital raise round by Ather, according to a press release. It is also subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature.

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Adani Wilmar reduces the amount of its initial public offering to Rs 3,600 crore

Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to Rs 3,600 crore from the Rs 4,500 crore planned earlier, people familiar with the development said on Friday. The company, which sells cooking oils under the Fortune brand, is expected to float its initial public offering (IPO) this month, they added. AWL is a 50:50 joint venture company between Ahmedabad-based Adani Group and Singapore’s Wilmar group. Now, the IPO will comprise a fresh issue of equity shares worth Rs 3,600 crore. There will not be any secondary offering.

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Bulk Deal data

SAHIL GUPTA bought 2,25,000 equity shares in Atul Auto Limited at Rs 203.97 per share on the NSE, the bulk deals data showed. 

VINODCHANDRA M PAREKH sold 2,51,344 equity shares in Beardsell Limited at Rs 16.54 per share.

DINESH KUMAR KUNJBIHARI HUF sold 6,82,745 equity shares in Airan Limited at Rs23.95 per share on the NSE, the bulk deals data showed. 

ALPHA LEON ENTERPRISES LLP purchased 7,12,423 equity shares in B.C. Power Controls Ltd at Rs 7.35 per share on the NSE.

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VORA FINANCIAL SERVICES PVT LTD sold2,78,929 equity shares in BPL Ltd. at Rs 65.30 per share.

EPITOME TRADING AND INVESTMENTS bought 41,39,000 equity shares in Orient Green Power Co Ltd at Rs 23.30 per share on the NSE, the bulk deals data showed. 

KIFS INTERNATIONAL LLP sold 1,82,000 equity shares in Sintercom India Limited at Rs 100.60 per share on the NSE.

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DII and FII data

Foreign institutional investors (FIIs) sold shares worth a net Rs 1,598.2 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 371.41 crore in the Indian equity market on January 14, as per provisional data available on the NSE.

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NSE F&O Ban

Escorts, Indiabulls Housing Finance, Vodafone Idea, and SAIL are under the F&O ban for January 17. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.