Indian indices started the week positively on Monday as Sensex zoomed 700 points, or 1.2%, to over 57,900 at open, while Nifty jumped above 17,250 points, or 1.02% higher. This week, investors will be closely looking at the Economic Survey and the Union Budget, among other domestic and global cues, to be presented by Finance Minister Nirmala Sitharaman on Monday and Tuesday respectively.
Economic Survey to be tabled in Rajya Sabha at 3:30 PM
The Survey will be made public after it is tabled in the Rajya Sabha
FM tables Economic Survey 2021-22 in Lok Sabha
Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the government’s Budget for the fiscal year beginning April 1, 2022.
It projects an 8-8.5 per cent growth rate for the Indian economy in 2022-23 fiscal year (April 2022 to March 2023).
This compares to 9.2 per cent GDP expansion projected by the National Statistical Office (NSO).
The Economic Survey 2021-22, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The gross domestic product (GDP) contracted by 7.3 per cent in 2020-21.
The Survey focuses on supply-side issues to improve the resilience of the Indian economy.
Nifty Oil & Gas gains 2.33%
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Nifty50 up 1.6%
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BSE Sensex, Sensex 50, Sensex Next 50 all up 1.6%
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India’s longest expressway linking Delhi to Mumbai to be completed soon; government has also approved 21 greenfield airports: President
Bharti Airtel acquires 25% stake in Lavelle Networks; Stock rises 2%
The Bengaluru-based Lavelle Networks is a tech startup that specialises in Software-defined Wide Area Network solutions and it serves a range of industry segments.
Its platform has connected several thousands of Indian enterprises from the nation’s largest financial institutions to e-commerce networks, a company statement said.
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UPL Q3 net profit rises 18%
UPL Ltd today reported a net profit of ₹937 crore for the December quarter, up 18% from a year ago. It was ₹793 crore in the same quarter last year.
The company’s revenue witnessed a growth of 24% to ₹11,297 crore, led by healthy growth in volumes and better product realizations.
BSE Sensex up 1.82%; TechM leads with 4.71%
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UPL rises 1% after Q3 results
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Aditya Birla Sun Life Mutual Fund launches Nifty Next 50 Index Fund
Aditya Birla Sun Life AMC Ltd has announced the launch of Aditya Birla Sun Life Nifty Next 50 Index Fund, an open-ended scheme that will track the Nifty Next 50 Index. The new fund offer (NFO) opened for subscription on Monday and will close on 14 February.
As per the asset management company, the objective of the scheme is to provide returns that closely track the total returns of securities as represented by Nifty Next 50 Index.
Priority to Make in India in defence contracts, 209 items used by armed forces will not be imported: President Kovind
Relentless efforts by govt led to India emerging as one of the fastest growing economies in the world: President Kovind
India got $ 48 bn in FDI in first seven months of this fiscal: President Kovind
India is running world’s largest food distribution program: President Kovind
To ensure that no one returns home hungry, my govt distributes free ration to the poor every month as part of PM Gareeb Kalyan Yojana. Today India is running world’s largest food distribution program; it has been extended till March 2022: President Ram Nath Kovind
India’s agriculture exports have crossed ₹three lakh crore, says President Kovind in Budget Session of Parliament
More than 11 crore farmer families received ₹1.80 lakh crore through PM-KISAN; big changes seen in farm sector: President Kovind
BSE PSU index up 1.66%; Canara Bank leads with 4.29%
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Jubilant FoodWorks up 5.3%
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Info Edge gains 6.65%
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₹64,000 cr PM Ayushman Bharat Health Infrastructure Mission will prepare country for health crisis in future: President Kovind
BSE IT Index up 2.74%
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Top Sensex gainers: IT firms lead
TechM (4,65%), Wipro (3.43%), Dr Reddy (3.28%), Infosys (3.15%), HCL Tech (2.75%)
We have administered 150 crore doses of covid vaccines in record time: President Kovind in address to joint sitting of Parliament
More than 70% beneficiaries have been administered second dose of covid vaccine: President Kovind
Thankful to our healthcare and frontline workers: President Kovind
Rupee gains 15 paise to 74.92 against US dollar in early trade
The rupee appreciated 15 paise to 74.92 against the US dollar in opening trade on Monday, supported by the recovery in domestic equities.
However, the surge in the rupee was restricted amid elevated crude oil prices and firm American currency.
Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22, later in the day.
At the interbank foreign exchange, the rupee opened at 74.97 against the American dollar, then inched higher to quote 74.92, registering a rise of 15 paise from the last close.
In the previous session, the rupee had settled at 75.07 against the greenback.
PM Modi on Budget Session
I request all MPs, elections keep happening but Budget Session is very important, we need to make it fruitful: PM Modi
IndusInd Bank falls 3.5%
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Prez Kovind’s cavalcade arrives at the Parliament ahead of Budget session
Eco Survey to be tabled in Lok Sabha at 12:45 PM: Report
With the Budget Session of Parliament commencing on Monday, the government is all set to lay Economic Survey 2021-22 along with Statistical Appendix in both Houses.
Economic Survey 2021-22 and the Statistical Appendix will be laid on the table of the Lok Sabha at around 12.45 pm by Union Finance Minister Nirmala Sitharaman
While it will be tabled in Upper House a few minutes after the House assembles at 2.30 pm.
Sitharaman will lay a copy of the Economic Survey, 2021-22 along with Statistical Appendix both in English and Hindi, mentioned the list of business of Rajya Sabha.
Reliance Industries up 2%
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Tech Mahindra gains 4.24%
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Top Nifty50 losers
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Top Nifty50 performers
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Most active Nifty50 shares
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Opposition will raise the Pegasus issue in the Parliament
Budget session begins today
PM Modi addresses media ahead of Budget session. Finance minister Nirmala Sitharaman will table the Economic Survey today and the Union Budget tomorrow.
Important to provide support to MSMEs; expecting higher MGNREGA outlay: Subhrakant Panda, Senior VP FICCI
Top Sensex losers
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Top Sensex performers
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SGX Nifty up 1.3%
Day trading guide for Monday
4 stocks to buy or sell today — 31st January
AGS Transact Technologies shares surge after flat debut
Shares of AGS Transact Technologies witnessed a flat listing on Monday as the stock started trading at ₹176 on the NSE, up 0.9% as compared to its IPO issue price of ₹175 apiece. On the BSE, the stock made its debut at ₹176 per share and surged over 3% to ₹180 in minutes after listing.
Sensex jumps 712 pts in early trade; Nifty above 17,300
Equity benchmark Sensex surged 712 points in opening trade on Monday, tracking gains in index-majors Wipro, Bajaj Finance and Infosys amid a positive trend in the Asian markets.
Starting on a positive note, the BSE gauge was trading 712.61 points or 1.25 per cent higher at 57,912.84 in early trade. Likewise, the Nifty advanced 216.95 points or 1.27 per cent to 17,318.90.
Meanwhile, Finance Minister Nirmala Sitharaman will present the Economic Survey 2021-22 later in the day.
Nifty IT up 2.5%; Mindtree leads with gains of 6.4%
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SBI gains, Kotak Mahindra loses
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Nifty Realty rises 2.43%
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TechM up over 4%
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Sectoral indices; IT, Realty up more than 2%
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Broad market indices
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Nifty50 at Open
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Sensex at Open
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Market at Open
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Market at pre-open
At market pre-opening, the Sensex was at 57,861, up 660 pts, or 1.16%, while Nifty was at 17,271, up 170 pts, or 0.99%.
Nifty50 at pre-open
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Market at pre-open
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VA Nageswaran is India’s new chief economic adviser
V. Anantha Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, took charge as the chief economic adviser on Friday, days ahead of the presentation of the Economic Survey.
Nageswaran succeeds Krishnamurthy Subramanian, who returned to academia in October after completing his three-year tenure.
Sameet Chavan of Angel One on what to expect from market this week
Till the time, the global uncertainty do not disappear, we are likely to have challenging markets where the volatility remains on the higher side. Now the budget is around the corner and hence, we do not expect any decisive move (on either side) on Monday at least. Technically speaking, 16800 is considered to be a crucial level because it coincides with the 78.6% retracement of the recent up move as well as the trend line support. Market has not only managed to hold it in last couple of sessions but also had an excellent recovery to reclaim 17000 with some authority. Hence, as long as this support holds, we remain hopeful for some recovery from hereon. On the flip side, if market manages to recover, we don’t see it surpassing the sturdy wall of 17350 – 17500 before the budget. Whatever breakout has to happen (upwards or downwards), it is now likely to happen on or after the budget only. Till then one should expect a range bound movement and should focus on stock specific action.
Stocks to Watch: Sun Pharma, Tata Motors, BPCL, Exide
Here is the list of the top 10 stocks that are likely to be in focus on Monday
Action-packed week for equity market: Budget, macro data, earnings eyed
It will be an action-packed week for the equity market as a host of crucial events are lined up with the Union Budget hogging the limelight along with macroeconomic data announcements, quarterly earnings and global trends, analysts said. “This week is critical, not only for the equity market, but for the economy as a whole. We have the Union Budget scheduled for February 1 and we expect the government to continue with growth agenda but with a roadmap for fiscal prudence. This week marks the beginning of a new month also and auto sales start pouring in from February 1. “Besides, we have manufacturing and services PMI data also scheduled during the week,” said Ajit Mishra, VP Research, Religare Broking. Mishra further said that the Union Budget would set the tone for the domestic markets amid the global sell-off.
SGX Nifty at 17,268.50, up 0.88%
Dollar near 18-month high ahead of bumper central bank week
The dollar was near a year-and-a-half high against the euro on Monday with equities markets volatility expected to push it higher in the short-term as traders eyed upcoming Australian, UK and European central bank meetings.
The euro was at $1.1148, just off last Friday’s low of $1.1119, its weakest since June 2020. The Aussie dollar was at $0.6991, also languishing near Friday’s 18-month low, while sterling was at $1.34015, near the one-month low hit last…
Read More: Sensex zooms 1000 pts, Nifty near 17,400; FM tables Economic Survey