Nifty seen opening with 50 points down

KS Badri Narayanan Chennai | Updated on January 18, 2021

Domestic markets are expected to continue the downward slide, as trends from SGX Nifty indicate a gap-down opening of about 50 points. Tracking the weak global markets, the SGX Nifty is currently ruling at 14,414 as against the NIfty-50 Friday’s close of 14,458.

The US markets on Friday closed with a loss of 0.5-0.9 per cent while most Asian markets such as Japan, Korea, Taiwan and Singapore; and Australia are down by about one per cent. Even all the US futures — Dow, Nasdaq and S&P 500 — are down marginally.

It may be recalled that the BSE Sensex slumped 549.49 points at 49,034.67 and the Nifty50 161.90 points at 14,433.70.

Result calendar: Mindtree Ltd, Rallis India, Trident, IndiaMart, IRB Infrastructure, Majesco, Maharashtra Scooters, Snowman Logistics, Shakti Pumps (India), Hindustan Media Ventures, Indiabulls Real Estate, Suraj, Ultracab (India), Vishwaraj Sugar, Rallis India and Shree Ganesh Remedies will declare their quarterly results today.

Stocks to watch

Banking Stocks, particularly PSUs, will remain in focus after RBI said the bank loan growth hit 9-month high of 6.7 per cent for the week ended January 1. As per RBI data, bank credit growth was last at 6.8 per cent in April 2020.

Metropolis Healthcare has informed the exchanges that it will acquire Dr Ganesh’s Hitech Diagnostic Centre to strengthen its leadership position in South India. The deal will be through cash and stock combination deal, it added. The company’s board has approved the acquisition partly by way of cash consideration.

JBM Auto has received orders for supply of 700 JBM ‘CITYLIFE’ fully air conditioned BS-VI CNG Low-Floor buses from Delhi Transport Corporation (Government of NCT of Delhi) vide its Letter of Award dated 15-01-2021. These orders will be executed in the coming months, the company had informed the stock exchanges.

Star Cement commenced the commercial production at its new grinding unit at Siliguri, West Bengal, from Saturday. It is a modern grinding unit with annual capacity of 2.00 tpa.

Wipro has informed the stock exchanges that Fiat Chrysler Automobiles has entered into a partnershp with the company to establish its first Global Digital Hub in India.


The three-day initial public offering of Indian Railways Finance Corp will open on Monday. The country’s first IPO in 2021 on Friday raised ₹1,389.86 crore from anchor investors, out of the targetted total IPO size of ₹4,633 crore. As many as 31 marquee institutional investors — both domestic and foreign — lapped up the 53.46 crore shares that were on offer under the anchor book portion, a IRFC filing with the stock exchanges showed. These shares were allocated at ₹26, which is the upper end of the ₹25-26 price band fixed for the IPO.

Published on January 18, 2021

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