Trading for the day began on a firm note as stocks staged a comeback after yesterday's slide. Positive Asian stocks also aided sentiment. At 9:30 IST, the barometer index, the S&P BSE Sensex, jumped 472.33 points or 0.82% at 57,749.27. The Nifty 50 index advanced 149.75 points or 0.88% at 17,259.90.
In the broader market, the S&P BSE Mid-Cap index rose 1.51% while the S&P BSE Small-Cap index gained 1.61%.
The market breadth was strong. On the BSE, 2,102 shares rose and 577 shares fell. A total of 74 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 6,266.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,881.32 crore in the Indian equity market on 27 January 2022, provisional data showed.
The Budget session of Parliament is set to commence on 31 January 2022 and will conclude on 8 April 2022. The government will present the Budget for fiscal 2022-23 on 1 February 2022. The Economic Survey is likely to be tabled on 31 January 2022 after the president's address.
On the political front, developments in the upcoming assembly polls in Uttar Pradesh, Uttarakhand, Goa, Punjab, and Manipur will be closely watched. Polls in all the five states will be held between 10 February 2022 and 7 March 2022 in seven phases. The counting of votes and the result will be declared on 10 March 2022.
Upcoming Results:
Larsen & Toubro (L&T), Dr Reddy's Laboratories, Kotak Mahindra Bank, Britannia Industries, Vedanta, Atul, AU Small Finance Bank, Bajaj Healthcare, Bharat Electronics, Blue Dart Express, CARE Ratings, Central Bank of India (CBI), Chambal Fertilisers & Chemicals, Crompton Greaves Consumer Electricals, Deepak Fertilisers, Dixon Technologies, Equitas Small Finance Bank, Happiest Minds Technologies, Karnataka Bank, Marico, Max Financial Services, Info Edge, Oberoi Realty, Suzlon Energy, Tata Coffee, United Breweries and UTI Asset Management Company will announce their quarterly earnings on 28 January 2022.
Stocks in Spotlight:
TVS Motor Company dropped 5.81%. The two and three-wheeler manufacturer has announced the successful acquisition of 75% stake in the Swiss E-Mobility Group (SEMG). SEMG is a market-leading provider of e-mobility solutions within the DACH region, operating the largest pure-play e-bike retail chain M-way in Switzerland with close to $100 million in revenue.
KPR Mill rallied 3.35%. The board of directors of the company will consider buyback of equity shares on 7 February 2022.
RBL Bank declined 2.77% The bank reported 6% rise in net profit to Rs 156 crore on 11% rise in net interest income to Rs 1,010 crore in Q3 FY22 over Q3 FY21.
Bharat Heavy Electricals (BHEL) slipped 1.01%. The engineering major reported net profit of Rs 14 crore in Q3 FY22 as compared with net loss of Rs 231 crore in Q3 FY22. Turnover rose 17% to Rs 4,919 crore in Q3 FY22 over Q3 FY21.
Global Markets:
Asian stocks are mostly trading higher on Friday, following a volatile session on Wall Street overnight where investors reacted to comments from the Federal Reserve and U.S. GDP data. The Taiwan market is closed for a holiday on Friday.
Wall Street gyrated wildly on Thursday as investors juggled positive economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.
On the macro front, the US economy expanded by 5.7% in 2021. It was the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession. The economy ended the year by growing at a solid 6.9% annual pace from October through December, the Commerce Department reported Thursday.
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