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Top 12 Trading Ideas For January Series As Market Keeps A Watch On Omicron
Sameet Chavan of Angel One says Traders should trade with a positive bias as long as the index remains above 17,000–16,800
Gaurav Garg, Head of Research, Capitalvia Global Research: The Indian benchmarks made a positive start on the first trading session of the calendar year 2022. Market participants will be cautious as the Reserve Bank said India’s current account slipped into a deficit of 49.6 billion in the third quarter. There may be some buzz in NBFCs stocks as Crisil rating agency report showed continued momentum in their growth. Some respite may come in the market as Foreign Institutional Investors (FIIs) net bought shares worth Rs. 575.39 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs. 1,165.62 crore in the Indian equity market on December month.
Research suggests that 17200-17300 may act as an important levels in the market to stay positive. If the market sustained the level of 17200-17300, we can expect it to trade till the range of 17500-17600. Technical indicators also support positivity in the market.
Rupee Opens: The Indian rupee has opened flat at 74.35 per dollar on January 3.
The US dollar declined by 0.35% on Friday in quiet holiday trading and absence of any major economic data. However, a sharp fall was prevented on risk aversion in the global markets. The dollar ended 2021 on a strong note gaining nearly 7% on hopes the US Fed will hike rates sooner than its peers, said ICICIDirect.
Rupee future maturing on January 27 appreciated by 0.10% on weakness in the dollar and rise in risk appetite in the domestic markets. Further, rupee gained strength on FII inflows. However, sharp gains were prevented as investors remained vigilant ahead of economic data from the country, it added.
Gold Prices Today: Marginal Uptick In Early Hours; Omicron Spike Likely To Lend Support
Gold has broken past recent range of $1,780-1,820/oz reflecting strong upward momentum. MCX gold contracts up 0.08 percent, trading at Rs 47,924/10 grams, silver futures add 0.2 percent to Rs…
Market at 10 AM
Benchmark indices extended the opening gain and trading at day’s high with Nifty around 17500
The Sensex was up 479.89 points or 0.82% at 58733.71, and the Nifty was up 137.50 points or 0.79% at 17491.50. About 2360 shares have advanced, 679 shares declined, and 96 shares are unchanged.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:
The Nifty is in positive terrain, the breakout level was 17350 and we managed to close above that on Friday. This should allow the index to move higher to 17575-17600 and then 17800.
A good base has been formed at 17100 and as long as we can keep above that, all dips can be utilized to accumulate long positions.
Buzzing
Eicher Motors’ Motorcycles sales jumped 7 percent to 73,739 units in December 2021, against 68,995 units in December 2020. However, its export rose 144 percent at 8,552 units versus 3,503 units, YoY.
The company’s Commercial vehicle segment sales increased by 25.8 percent to 6,154 units during December 2021, against 4,892 units sold in December 2020.
Its total domestic sales were up 27.6 percent at 5192 units versus 4069 units, YoY.
Eicher Motors was quoting at Rs 2,677.70, up Rs 87.75, or 3.39 percent on the BSE.
Edelweiss Financial raises over Rs 4,500 mn through public issuance of NCDs
Edelweiss Financial Services (EFSL), announced that the issue of Secured Redeemable Non-Convertible Debentures (NCDs) has been successfully completed and the company has allotted 45,62,472 NCDs of the face value of Rs 1,000 each, amounting to Rs 4,562.47 million.
EFSL had decided to do an early closure of the issue on December 22, 2021 against the scheduled closure on December 27, 2021.
Edelweiss Financial Services was quoting at Rs 73.65, up Rs 1.75, or 2.43 percent on the BSE.
UPL swaps USD 700 mn acquisition loan with a sustainability loan
UPL has raised a second tranche of USD 700 million sustainability linked loan (SSL) on December 31, 2021 with a reduction of interest cost by 35bps and an opportunity for a further reduction of 5bps on achievement of sustainability indicators agreed with the banks.
The first tranche of USD 750 million was raised in March and April 2021. Of the USD 1.45 billion, the debt maturity for USD 1.25 billion gets extended by two years to FY 2026 (against FY2024 earlier). The SLL also provides a complete pre-payment flexibility
UPL was quoting at Rs 751.60, up Rs 4.55, or 0.61 percent on the BSE.
Bajaj Auto December auto salesBajaj Auto sold 3,62,470 units in December 2021 against 3,72,532 units in December 2020, down 2 percent. Its domestic sales has increased by 5% at 1,45,979 units against 1,39,606 units and exports were down 7% at 2,16,491 units versus 2,32,926 units, YoY.Bajaj Auto was quoting at Rs 3,262.50, up Rs 11.70, or 0.36 percent.
The BSE Auto index rose 1 percent supported by the Eicher Motors, Tata Motors, Tube Investments
