| Indian Market | 14-Jan-22 | ||
|---|---|---|---|
| Weekly Change | Close | Change | % chg |
| Nifty | 18255.75 | 443.05 | 2.49% |
| Sensex | 61223.03 | 1478.38 | 2.47% |
| Banknifty | 38370.40 | 630.80 | 1.67% |
| Indian Market | 14-Jan-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 31989.65 | 878.10 | 2.82% |
| Nifty Small-Cap 100 | 11909.50 | 416.60 | 3.62% |
| India VIX | 16.56 | -1.04 | -5.92% |
| US Market | 14-Jan-22 | ||
|---|---|---|---|
| Weekly Change | Close | Change | % chg |
| Dow 30 | 35911.81 | -319.85 | -0.88% |
| S&P 500 | 4662.85 | -14.17 | -0.30% |
| Nasdaq | 14893.80 | -42.10 | -0.28% |
| Currency / Commodity | 14-Jan-22 |
|---|---|
| Indices | Current |
| USD/INR | 73.94 |
| EUR/INR | 84.712 |
| Dollar Index | 94.76 |
| US 10-year bond | 1.727 % |
| WTI Crude Oil | $ 84.42 |
| Brent Crude Oil | $ 86.36 |
| Gold | $ 1816 |
| Bitcoin | $ 42,926 |
| FII / DII Activity | 14-Jan-22 | Rs. (In Crores) |
|---|---|---|
| (Weekly - Prov) | Buy | Sell |
| FII | 4002.94 | |
| DII | 3629.03 |
Key Events of this week
- This week all 4 IT major announce Q3 result – INFY, TCS & WIPRO announce Q3 numbers on 12-Jan while HCLTECH came with its numbers aftermarket hours on Friday.
- HDFCBANK declare Q3 result on 15-Jan-22, Saturday, result was in-line with expectation. HDFCBANK had last month tested 1440 level on lower side and tested 1575 before FII resume it selling in HDFCBANK.
- Key Domestic data: IIP growth at 9 months low – IIP growth for November at 1.4% compared to 4% growth recorded in October.
- Inflation highest since July 21: CPI inflation for December stood at 5.59% compared to 4.91% for November. This remains with target range of RBI committee of 4% (+/- 2%).
- Wall street ended the week on flat to negative bias, Indian Indices manage to record around 2.5% growth. Banknifty was up by 1.67% on weekly basis, underperformed this week Nifty & BSE Sensex unlike previous week, where Banknifty gained over 6%
- OMICRON fear continues to keep global market on edge, as number of fresh cases continue to rise. India recorded more than 2 lakh cases per day for 4 consecutive days.
- Hospitalization is low in this wave due to higher vaccination, global market is seeing some recovery on economy front as OMICRON fears eases, Crude Oil at fresh 3 months high, Brent Crude @ $84.25 & Brent Crude Oil @ $86.36.
Market View: 2nd week of Q3 result season
- In last 2 weeks, Nifty & Sensex record around 5% gain and Banknifty recorded 8% up move. Banknifty will witness its reaction to HDFCBANK’s result – We believe HDFCBANK’s result is good although some profit booking can’t be rule out.
- Q3 result season will continue to remain in focus, few Nifty-50 companies announcing result this week are ULTRACEMCO, BAJFINANCE, LT, BAJAJ-AUTO, ASIANPAINT, HUL, HDFCLIFE, JSWSTEEL, RELIANCE & ICICIBANK.
- Nifty is 350 points away from all time high and momentum which is currently in progress has the potential to take Nifty beyond fresh high to 19k level and above – Budget will play the key role whether the rally is fueled to higher level or we formed double top around 18600 level.
- Before Budget there is important event – US FOMC meeting on 27-Jan-22 and it will play critical role, even thought Budget & Q3 result are good – steeper rate hike by US FOMC could de-rail the rally in all the assets class fueled by liquidity injection over last 20 months.
Our Approach
- With a global economic recovery and Oil near 3 months high, focus on oil producing companies such ONGC, RELIANCE & IOC could be beneficiaries as cold winter in US could see rise in oil demand.
- We see Q3 result season by end of 15-Feb-22, US FOMC meeting outcome on 27-Jan-22 and Union Budget on 1-Feb-22 could provide much clarity about opportunity for CY 2022.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.