India’s largest private sector firm, Reliance Industries Limited on Monday said that Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of our parent company, i.e., Reliance Industries Limited have not done any “corporate” or “contract” farming in the past, and have absolutely no plans to enter this business.
“14100 can pose a resistance for the Nifty. Traders should consider booking profits at the current juncture and trail thereafter. We have a good support at 13900 and if we close below this level, there could be a correction. Hence it is advised to be cautiously long with strict stops,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
The major data to focus on this week would be the FOMC minutes late Wednesday and US December NFP data on Friday. Georgia Senate runoffs will also be closely tracked. The race is too close to call and if Democrats manage to win both, the president, House and Senate would all be Democrat which would be negative for the Dollar. If on the other hand, Republicans win even one runoff, they would retain control of the Senate. The Dollar could recoup some of its recent losses in this case: Abhishek Goenka, Founder and CEO, IFA Global
14100 can pose a resistance for the Nifty. Traders should consider booking profits at the current juncture and trail thereafter. We have a good support at 13900 and if we close below this level, there could be a correction. Hence it is advised to be cautiously long with strict stops: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
President Donald Trump badgered and pleaded with Georgia’s election chief to overturn Joe Biden’s win in the state, suggesting in a telephone call that the official “find” enough votes to hand Trump the victory. The conversation on Saturday was the latest step in an unprecedented effort by a sitting president to pressure a state official to reverse the outcome of a free and fair election that he lost.
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“Positive economic data like all-time record GST collections (Rs 1.15 lakh crores) and impressive auto numbers particularly in crucial segments like HCVs & MCVs in December augur well for the markets. The low-interest-rate has become a major tailwind for the economy. Indian economy can grow by above 10 % in FY 22. This means around 16 % increase in nominal GDP and impressive growth in corporate profits. Low-interest rate regime in the developed world and the declining dollar are positives for capital inflows into EMs like India. The risk is something triggering capital outflows which can cause a sharp correction in markets,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
COMEX gold has gained over 1% to trade near $1920/oz after a 0.1% gain in the previous session. Gold trades higher supported by weaker US dollar, US stimulus measures, increased US-China tensions and rising virus cases and more restrictions being imposed to limit the spread. ETF inflows also show pick up in investor buying however the pace was modest. Gold has witnessed a gap up opening after last week’s gain indicating upward momentum however there are no fresh triggers while we are yet to see a close above $1900/oz: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
IndusInd Bank, Sun Pharma, and ONGC were the top gainers on S&P BSE Sensex on Monday morning. Only IndusInd Bank shares were up over 1%.
Sensex started the day’s trade above 48,000 — setting fresh all-time highs on the opening bell while Nifty 50 breached the 14,100 levels for the first time in history.
S&P BSE Sensex was up over 200 points during the pre-open session while the 50-stock NSE Nifty sat just shy of 14,100.
Sensex moved past 48,000 during Monday’s pre-open session while the Nifty 50 index crossed 14,100.
Nifty futures were trading 146.80 points or 1.05 per cent higher at 14,116.80 on Singaporean Exchange on Monday. BSE Sensex and Nifty 50 are likely to make new record high levels in today’s session. Bulls are expected to cheer the approval of COVID-19 vaccines by Indian drug controller DGCI for emergency use in India. In the previous session, the S&P BSE Sensex rose 117.65 points to end at 47,868.98 while the broader Nifty50 gained 36.70 points to settle at 14,018.50. Asian stock markets were seen trading mixed in the early trade on Monday.
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For the January series, maximum Call Open Interest (OI) is placed at 14,000 strike with 21 lakh contracts, followed by 14,500 strike with 12.23 lakh contracts. Put OI is the most at 13,000 strike with 26.93 lakh contracts.
Foreign Institutional Investors (FII) have bought domestic securities worth Rs 506 crore so far in 2021. Even Domestic Institutional Investors were buyers of domestic stock, pumping in R 69.40 crore so far.
RIL: Sebi imposed penalties on RIL, its Chairman and Managing Director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile RPL back in November 2007.Edelweiss Finvest sold 2.51 lakh equity shares of the newly listed Antony Waste Handling Cell at Rs 439.7 per share.
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This week will mark the beginning of the earnings season with tier-1 information technology firms gearing up to post their quarterly results.
“Investors wasted little time getting their New Year mojo on and are flying right out of gates this morning amid optimism that widespread vaccine distribution will provide the ultimate economic kick-start offering a massive booster shot to corporate profits,” said Stephen Innes, Chief Global Market Strategist at Axi. “Despite these problematic headwinds, investors think the vaccine narrative has such a long economic runway that stock prices cannot have fully reflected it all this far in advance. As people get vaccinated, they are likely to return to those activities most impacted by Covid-19 such as dining out, travelling and other personal service-related areas,” he added.
On Monday morning SGX Nifty was inching higher, gaining 77 points. The up-move hinted at a gap-up start for domestic stock markets.
Serum Institute of India (SII), the local maker of the AstraZeneca/Oxford coronavirus vaccine, said on Sunday it intends to concentrate on meeting India’s own immediate demand in the next two months before exporting to other interested countries. Chief Executive Adar Poonawalla said in an interview after the shot was approved for emergency use in the world’s second-most populous country, that exports might be possible after supplying the Indian government with an initial 100 million doses.
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