ETMarkets Morning Podcast: FPIs net purchase Rs 651-crore domestic equities | The Economic Times Markets Podcast

ETMarkets Morning Podcast: FPIs net purchase Rs 651-crore domestic equities | The Economic Times Markets Podcast

Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Sandeep Singh, and here is what we have to start your day.

>> Sensex moves further away from 50,000 mark as bears rule market for second day

>>FPIs buy Rs 651 crore worth stocks
>> Equity funds face redemption pressure, as investors vote to shut six schemes of Franklin Templeton
>> IRFC IPO subscribed 65% on Day 1
>> L&T Infotech, ICICI Lombard to disclose Q3 results

And there is more. But first, a quick glance at the state of the markets..

>> Nifty futures on the Singapore Exchange traded more than 50 points higher at 8:30 this morning, signalling a gap-up start for Dalal Street.

>> Asian share markets rose as investors wagered China’s economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. MSCI’s broadest index of Asia-Pacific shares outside Japan firmed 0.2 per cent, to be a whisker from record highs. Japan’s Nikkei bounced 1 per cent, recovering all the losses suffered on Monday.

>> US markets will resume trade after a day’s holiday for the Martin Luther King Jr. Day. On Friday, the Dow Jones Industrial Average fell 177.26 points, or 0.57 per cent, to 30,814.26, the S&P500 index lost 27.29 points, or 0.72 per cent, to 3,768.25 and the Nasdaq Composite dropped 114.14 points, or 0.87 per cent, to 12,998.50. The trading would resume on Tuesday.

>> The rupee plunged by 21 paise to settle at a week’s low of 73.28 against the US dollar on Monday, tracking weak domestic equities and a rebound in the American currency. India’s benchmark 10-year bond yields declined 0.52 per cent to 5.95 after trading in 5.95-5.98 range.

>> Poor US data boosted the safe-haven US dollar and caused the Dollar Index to rally to 90.837. The euro retreated to $1.2068 from its January peak of $1.2349, while the yen held steady.

>> Crude prices edged up as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.

>> Brent crude futures were up 17 cents near $55 per barrel at the last count.

>> U.S. West Texas Intermediate crude was at $52.25 a barrel, down 11 cents, or 0.2%.

>> Gold prices gained by more than 550 rupees to 48773 rupees per 10 grams. Silver followed, rising to trade close to 65000 rupees per kilogram.
In international market, gold prices inched away from a month and a half low touched earlier on Monday as expectations of additional fiscal stimulus in the United States supported bullion’s appeal as an inflation hedge.

All in all, the trade setup on Dalal Street looked strong . Nifty50 on Monday extended losses to the second consecutive day and formed another big bearish candle on the daily chart. In the process, the index violated its multiple day support level of 14,350, indicating a negative bias. Analysts said bears appear to be slowly tightening their grip on the market as intraday recovery towards 14,400 had huge selling pressure in the afternoon session.

LET ME NOW GIVE YOU A HEADS-UP on some of the top news we are tracking at this hour.

IRFC IPO subscribed 65% on Day 1
The initial public offer of the Indian Railway Finance Corporation (IRFC) was subscribed 65 per cent on the first day of subscription on Monday. The offer received bids for 81 crore shares against nearly 125 crore shares on offer, as per data available with the NSE.

FPIs buy Rs 651 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 651 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 42.51 crore, data suggests.


>> Adani Green: Adani Trading Services LLP, promoter of Adani Green Energy, on Monday offloaded shares worth nearly Rs 3,309 crore in the firm, through open market transactions. According to block deal data on the BSE, the promoter sold over 3.61 lakh scrips of the firm for Rs 3,308.82 crore.

L&T Infotech, ICICI Lombard to disclose Q3 results
L&T Infotech,ICICI Lombard, Tata Communications, Alembic Pharma, Hatsun Agro, Bank of Maharashtra, DCM Shriram and CEAT are some of the companies which will disclose their December quarter earnings during the day.

>> Yes Bank’s board will meet on Friday to consider a proposal for further fundraising through various means, according to the private sector lender. The bank had floated follow-on public offer (FPO) of Rs 15,000 crore in July 2020 to shore up its buffers that have fallen below the regulatory thresholds.

>> The country’s largest carmaker Maruti Suzuki India NSE -2.42 % said it has increased the price for select models by up to Rs 34,000 to offset adverse impact of rising input costs. The company is increasing the price for select models owing to an increase in various input costs.

>> L&T Finance Holdings said its board has fixed the price at Rs 65 per share for the Rs 3,000 crore rights issue which opens for subscription on February 1.
Well, that’s it for now. For all the market news through the day, do track Have a great day ahead! Bye-bye

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