The domestic stock markets are likely to open in the red, extending the ongoing correction for the fifth consecutive session, following weak global cues and negative trends from early SGX Nifty trading. At 7:30 am, the Nifty futures were trading at 13,900, higher by 80 points or 0.75 per cent on the Singapore Stock Exchange.
U.S. stocks suffered their biggest one-day percentage drop in three months on Wednesday; The Dow Jones Industrial Average fell 633.87 points, or 2.05 per cent, to 30,303.17, the S&P 500 lost 98.85 points, or 2.57 per cent, to 3,750.77 and the Nasdaq Composite dropped 355.47 points, or 2.61 per cent, to 13,270.60. Asian stocks skidded on Thursday following a sharp Wall Street decline; Australia’s S&P/ASX 200 benchmark lost 1.99 per cent, Japan’s Nikkei fell 2.28 per cent and Hong Kong’s Hang Seng index futures lost 0.51 per cent.
On Wednesday, the S&P BSE Sensex had plunged 937.66 points or 1.94 per cent to 47,409.93 and Nifty had declined by 271.40 points or 1.91 per cent to 13,967.50.
Stocks to watch in trade in Thursday’s session (January 28, 2021)
Axis Bank reported a 36 per cent year-on-year decline in December 2020 quarter profit to Rs 1,117 crore due to higher provisioning for bad loans. The bank’s net interest income, which is the difference between interest earned and expended, rose 14 per cent to Rs 7,373 crore.
Hindustan Unilever company reported a profit of Rs 1,921 crore for the quarter ended December 2020 compared with Rs 1,616 crore in the corresponding quarter of the previous year. Revenues jumped from Rs9,808 crore to Rs 11,862 crore during the same period.
NTPC’s 140 MW solar photovoltaic project at Bilhaur, Uttar Pradesh has started commercial operations. With this, the commissioned capacity of Bilhaur Solar PV Project, NTPC and NTPC group has become 140 MW, 51310 MW and 63925 MW respectively, NTPC said in a regulatory filing to the stock exchanges.
ICICI Prudential Life Insurance Company
ICICI Prudential Life Insurance Company reported a profit of Rs 305.55 crore in the December 2020 quarter, up from Rs 302.46 crore in the same quarter of the previous year. Net premium income rose from Rs 8,131 crore to Rs 8,970.84 crore during the same period.