Opening Bell:
Gift Nifty is up by 24.0 points in the early morning trade, indicating a positive opening for Indian stock market.
The US stock market indices ended higher with the S&P 500 posting a record high close on Friday for the first time in two years led by a rally in technology stocks. The S&P 500 jumped 1.23% to end at 4,839.81, while the Dow Jones Industrial Average rallied 1.05% to 37,863.80. The Nasdaq surged 1.70% to 15,310.97.
Stocks News:
👉 Reliance Industries Ltd (RIL), the oil-to-telecom conglomerate, reported a 10.9% year-on-year (YoY) increase in its consolidated net profit to ₹19,641 crore in the third quarter of FY24 led by consumer businesses and the oil & gas segment. RIL’s total revenue from operations in Q3FY24 increased 3.2% YoY to ₹2,27,970 crore.
👉 Hindustan Zinc: The miner posted a rise of 17% in standalone net profit at ₹2,038 crore, compared to ₹2,157 crore in the year-ago period as it announced its December quarter results for FY24 on January 19. For the nine months ended December 31, 2023, the company’s revenue declined 7% at ₹7,310 crore, compared to ₹7,866 crore in the year-ago period, it said in a regulatory filing. EBITDA for Q3FY24 stood at ₹3,560, down 4%, compared to ₹3,717 crore in the year-ago period.
👉 Adani Group: The infrastructure conglomerate has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed. The group released a total 28.67 million pledged promoter shares across Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, and Adani Energy Solutions.
👉 Central Bank of India: The state-owned bank’s net profit surged 57% to ₹718 crore in the third quarter of FY24, compared to a net profit of ₹458 crore in the same quarter a year ago, it said in an exchange filing. The bank’s total income was reported at ₹9,139 crore during the December quarter, compared to ₹7,636 crore in the same period last fiscal year. Its net interest income (NII) declined to ₹3,152 crore in the quarter, compared to ₹3,285 crore in the same period a year ago.
👉 Foreign institutional investors (FIIs) sold shares worth Rs 3,689.68 crore, while domestic institutional investors (DIIs) bought Rs 2,638.46 crore worth of stocks on January 19, provisional data from the NSE showed.
Domestic and International Events
- India’s foreign exchange reserves increased by $1.6 billion to $618.94 billion as of January 12, 2024, according to the Reserve Bank of India. The reserves had declined sharply by $5.89 billion in the previous week. Foreign currency assets rose by $1.859 billion to reach $548.508 billion, while gold reserves decreased by $242 million to $47.247 billion.
- Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41.
- Gold firmed on Friday but was poised to record its biggest weekly decline in six, as comments from Federal Reserve policymakers through the week lowered expectations of an early rate cut. Spot gold rose 0.2 percent to $2,027.49 per ounce by 2:02pm ET (1902 GMT), but was down 1 percent so far in the week.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 15,309 | (0.5) % |
| Shanghai Composite | 2,832 | (0.5) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 37,864 | 1.1 % |
| DAX | 16,555 | (0.1) % |
| FTSE 100 | 7,462 | 0.0 % |
| Nikkei | 35,963 | 1.4 % |
| Straits Times | 3,152 | 0.4 % |
