Nifty futures were trading 80 points or 0.54 per cent higher at 14,975.50 on Singaporean Exchange on Friday, hinting at a gap-up start for BSE Sensex and Nifty 50. In the previous session, the market capitalisation of BSE-listed companies crossed the historic Rs 200 lakh crore mark for the first time, driven by Union Budget 2021 optimism. Ashishkumar Chauhan, MD and CEO, BSE, informed that BSE has become the world’s ninth-largest exchange in terms of listed companies’ market capitalisation. Factors such as RBI MPC outcome, corporate earnings, foreign fund inflows, crude oil prices, rupee trajectory and other global cues will sway the market sentiment today. Analysts advise continuing with the ‘buy on dips’ approach. “Nifty has the potential to test 15,200 zone ahead,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Stocks in focus today:
Britannia, PNB, M&M: A total of 127 BSE listed firms including Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Aditya Birla Capital, Mrs Bectors Food Specialities, Cadila Healthcare, Future Consumer, Fortis Healthcare, GSK Pharmaceuticals, Pfizer, RCF, Shipping Corporation of India etc., among others are scheduled to release their quarterly earnings on February 5.
Stove Kraft: The kitchen appliance manufacturer and home solutions firm, Stove Kraft’s Rs 412-crore initial public offer (IPO), which was subscribed 18 per cent, is set to make its share market debut on Friday. Stove Kraft caters in the sub-premium and premium segment through its brands such as Pigeon, Gilma, and BLACK + DECKER.
Bharti Airtel: MD and CEO (India & South Asia) Gopal Vittal said the company’s tariffs are in the premium range and therefore a hike at this stage may impact its competitiveness. However, if competitors raise tariffs Bharti would also do the same, he added.
Rate sensitive stocks: Shares of banking financial servies, automobiles and real estate will remain in focus today as Reserve Bank of India’s Monetary Policy Committee will announce its decision on key lending rates. The MPC kept the key benchmark rate unchanged in its last three reviews
Indian Oil Corp, HPCL, BPCL: Petrol and diesel prices on Thursday climbed to fresh highs as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers.
NTPC: State-owned NTPC reported a 10.7 per cent on-year increase in its standalone net profit to Rs 3,315.3 crore in the three months ended December mainly on lower tax expenses. It paid Rs 1,168.6 crore in taxes during the quarter, more than 42% lower than the same period last year.
SAIL: Steel Authority of India has increased its capital expenditure target by 67 per cent to Rs 8,000 crore for the 2021-22 fiscal from the revised target of Rs 4,800 crore for 2020-21, Budget documents showed.