Market Analysis Today

Market Analysis Today

Jan 29 2024

Market Updates  – Monday, January 29th 2024

# This morning WTI oil prices have jumped towards $78.20 a barrel on reports of drone attack which has killed US troops escalating Mideast crisis

# In early action, Gift Nifty is well above the dotted lines indicating a positive start. 


GIFT Nifty (+124, 21619)
Dow Future (-67, 38043)

Nikkei (+98, 35965)
Hang Seng (+207, 16159)

Dow Jones (+60, 38109)

Nasdaq (-55, 15456)
Bovespa (+799, 128967).


# The US economy grew at a robust pace economy grew at an annualised rate of 3.3% in the 4th quarter of 2023.

# US Core YoY PCE Price Index figures for December printed at 2.9%, below the forecast 3.0% and slipping back from the previous period’s 3.2%. 

# At the Friday’s close, the Dow Jones was up 0.2% at 38,109, while the S&P 500 (-0.07% at 4,890) and the Nasdaq Composite (-0.4% at 15,455) were modestly lower.

# Last week, the Dow rose 0.65%, the S&P 500 gained 1.06% and the Nasdaq Composite added 0.94%. 

# Meanwhile, the Fed is widely expected to hold interest rates steady on Wednesday, while investors will zero in on Fed Chair Jerome Powell’s remarks after the meeting for clues on the potential start of the easing cycle. 

# Stronger-than-expected US economic data and hawkish signals from central bank officials dampened expectations for a March rate cut, although traders are still betting on rate reductions later this year.

# The Dow fell 0.26%, while the S&P 500 and Nasdaq Composite rose 0.08% and 0.36%, respectively. 

# A 10.7% surge in Netflix shares pushed the S&P 500 and Nasdaq Composite to a fifth winning day, as the firm reported strong quarterly revenue and subscription growth.

# The US Dollar ended firm at 103.19 levels 

# The 10-year Treasury yield too ended firm at the 4.1296 levels.

# WTI Crude oil prices have jumped toward $79 per barrel, now at the highest levels in two months on backdrop of a Houthi attack on a Transfigura-operated fuel tanker in the Red Sea stoked fears of further supply disruptions. 

The oil tanker was hit by a missile off the coast of Yemen on Friday, prompting commodities trader Transfigura to reassess the security risk if further Red Sea voyages. On the demand side, stronger-than-expected US economic data and fresh stimulus in China bolstered the outlook in two of the world’s largest oil consumers.

Meanwhile, OPEC and its allies are set to meet online on Feb. 1, although the group is not expected to decide on output policy this early

# COMEX Gold steady near $2025.

Stock To Watch Today

🔸 HDFC Bank 
Life Insurance Corp has received the Reserve Bank of India`s nod for acquiring up to a 9.99% stake in HDFC Bank Ltd 

🔸 Tata Group 
Airbus partners with Tata Group to set up India’s first helicopter final assembly line in the private sector 

🔸 DLF 
The company acquires 29 acres land in Gurugram`s Golf Course Extension for Rs. 825 crores 
The Company successfully bagged 100 MW Solar Project of GUVNL Phase XXI  

Stock In Action Today

🔸 Shriram Finance 
The company will consider raising of funds by way of issue of redeemable non-convertible debt securities including bonds in onshore/offshore market on private placement basis 
🔸 Exide Industries Limited 
The company has invested Rs. 50 crore by way of subscription in the equity share capital of its wholly owned subsidiary Exide Energy Solutions Limited  
🔸 Karnataka Bank 
The Board of Directors in its meeting have approved to raise balance Rs. 700 crores by way of preferential issue for an amount up to Rs. 100 crore and an amount aggregating up to Rs. 600 crores through, private placement, qualified institutions placement and/or any combination 
🔸 Piramal Enterprises Limited 
The company has entered into share purchase agreement to sell its entire direct investment of 20% of the fully paid-up equity share capital held in Shriram Investment Holdings Private Limited to Shriram Ownership Trust for a consideration of Rs. 1,440 crores 
🔸 Macrotech Developers Limited 
The company has approved the proposal for enabling raising of funds up to Rs. 5000 crores by way of issuance of equity shares, eligible securities, other securities or instruments or any combination of securities, in one or more tranche or tranches  

Stock On Focus Today

🔸 Shyam Metallics and Energy Limited 
NCLT Kolkata has approved the Scheme of Amalgamation of Platinum Minmet Private Limited with Shyam Sel and Power Limited, wholly owned subsidiary of the company 
🔸 PVR INOX Limited 
Opened 4 screen multiplex at Mittal Mall,Ajmer, Rajasthan. 
🔸 IRB Infra 
Arbitration tribunal grants award in favour of SPV in a case against NHAI, IRB Infra says the company will receive Rs. 1681 crores in compensation. IRB is also entitled to receive further interest from the date of the award till the date of realization of the compensation 
🔸 Jubilant Pharmova 
Company’s wholly owned subsidiary to sell its entire 25.8% stake in Sofie Biosciences Inc for aggregate proceeds of about $ 139.43 million 
🔸 Subex 
The company gets RBI`s in-principle nod to set up Account Aggregator Services

Systematix Corporate Action Tracker: Dividend

Ex-Dividend 30 January 2024 (Tomorrow)
Last date for Cum-Dividend Today

Gothi Plascon (India) Ltd.
Dividend Per Share Rs.2
Previous day Closing Price – Rs. 49.8

Persistent Systems Ltd.
Dividend Per Share Rs.32
Previous day Closing Price – Rs. 8383.55

Siemens Ltd.
Dividend Per Share Rs.10
Previous day Closing Price – Rs. 4206.5

Result Today (29 Jan 2024) 

• Bajaj Finance Ltd.
• Bharat Electronics Ltd.
• ITC Ltd.
• Marico Ltd.
• Petronet LNG Ltd.
• CSB Bank Ltd.
• Latent View Analytics Ltd.
• Nippon Life India AMC
• Nuvoco Vistas Corporation Ltd.
• UTI AMC Ltd.

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