February 22, 2024

Excessive-frequency buying and selling corporations (HTFs) – or algo corporations on steroids –use advanced algorithms and highly effective computer systems to execute trades at lightning speeds

The benchmark Sensex and Nifty are prone to open flat on January 30 as tendencies within the GIFT Nifty point out a muted begin for the broader index with a achieve of 17 factors.

On Monday, the Indian fairness indices erased losses of the earlier session and began the (Funds) week on a strong observe with the benchmark indices rising practically 2 % every on January 29 amid shopping for throughout the sectors and heavyweights.

Story continues beneath Commercial

At shut, the Sensex was up 1,240.90 factors or 1.76 % to 71,941.57, and the Nifty was up 385.00 factors or 1.80 % to 21,737.60.

The pivot level calculator signifies that the Nifty is prone to take rapid help at 21,516, adopted by 21,437, and 21,310 ranges, whereas on the upper aspect, it might see rapid resistance at 21,768, adopted by 21,850 and 21,977 ranges.

Keep tuned to Moneycontrol to seek out out what occurs within the forex and fairness markets in the present day. We’ve collated a listing of essential headlines throughout information platforms, which might affect Indian in addition to worldwide markets.

GIFT Nifty

Tendencies within the GIFT Nifty point out a flat begin for the broader index in India, with a achieve of 17 factors or 0.08 %. The Nifty futures have been buying and selling across the 21,973 degree.

Commerce setup for Tuesday: High 15 issues to know earlier than the opening bell

Story continues beneath Commercial

US Markets

US shares superior on Monday as market individuals regarded forward to this week’s slew of megacap earnings, financial information and the Federal Reserve’s financial coverage assembly.

The Dow Jones Industrial Common rose 224.02 factors, or 0.59 %, to 38,333.45. The S&P 500 gained 36.96 factors, or 0.76 %, at 4,927.93 and the Nasdaq Composite superior 172.68 factors, or 1.12 %, to fifteen,628.04.

Asian Markets

Asian market have been buying and selling greater within the morning commerce with Nikkei, and Straits Instances up 0.5 % every.

ITC Q3 internet revenue rises 11% to Rs 5,572 crore

ITC Ltd reported standalone internet revenue at Rs 5,572 crore for the December quarter of FY24, registering a progress of 11 % from Rs 5,031 crore in the identical quarter of the earlier monetary 12 months. The outcomes beat Avenue estimates.

Sequentially, the online revenue rose 13 % from Rs 4,927 crore within the September quarter.

The corporate introduced a 6.5 % enhance in its consolidated internet revenue, reaching Rs 5400.51 crore for the quarter ending in December.

Bajaj Finance Q3 internet revenue rises 22% to Rs 3,639 crore

Bajaj Finance on January 29 reported a consolidated internet revenue of Rs 3,638.95 crore for the October-December quarter of the present monetary 12 months, up 22.4 % from the identical quarter of the earlier 12 months, in keeping with the Avenue estimates.

Web curiosity earnings of the non-bank lender stood at Rs 7,655 crore in October-December quarter, from Rs 5,922 crore in the same interval final 12 months. This was up 29 % on a yearly foundation.

AUM grew by 35 % to Rs 3.11 lakh crore as of December 31, 2023 from Rs 2.31 crore as of December 31, 2022. AUM grew by Rs 20,704 crore in Q3FY24.

Vodafone Concept Q3 internet loss narrows to Rs 6,986 crore, income flat

Telecom operator Vodafone Concept reported a internet lack of Rs 6,985.9 crore for the December quarter, narrowing 12.56 % from Rs 7,990 crore within the year-ago interval.

Income got here in at Rs 10,673.1 crore, up 0.49 % from Rs 10,621 crore within the third quarter of the earlier monetary 12 months.

EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortisation) of the corporate improved 140 bps to 40.8 % within the quarter in comparison with 39.4 % within the earlier 12 months.

Greenback

The greenback held slender ranges in opposition to its main friends on Tuesday, as merchants awaited the Federal Reserve’s financial coverage choice for clues on when the U.S. central financial institution may lower charges.

The greenback was regular within the Asian morning, with market individuals transferring cautiously forward of the two-day FOMC assembly that kicks off on Tuesday.

Gold Costs

Gold firmed on Monday as rising tensions within the Center East lifted demand for the safe-haven asset, whereas markets awaited a Federal Reserve coverage choice later this week for extra clues on the timing of this 12 months’s first U.S. rate of interest lower.

Spot gold was up 0.4 % at $2,025.97 an oz. U.S. gold futures settled 0.4 % greater at $2025.4.

Crude

Oil costs fell greater than a greenback a barrel on Monday as China’s ailing property sector sparked demand worries, inflicting merchants to reassess the provision threat premium from escalating tensions within the Center East.

Brent crude futures fell $1.15, or 1.4 %, to settle at $82.40 a barrel, whereas US West Texas Intermediate crude futures dropped by $1.23, or 1.6 %, at $76.78 per barrel.

FII and DII information

Overseas institutional traders (FIIs) turned internet patrons within the money section after promoting within the earlier seven days, shopping for shares price Rs 110.01 crore, whereas home institutional traders (DIIs) bought Rs 3,221.34 crore price of shares on January 29, provisional information from the NSE confirmed.

With inputs from Reuters and different companies