- Nifty fut surged higher forming bullish candle on weekly scale to close at 12384.65.
- Torrent Pharma Board will consider raising funds through equity on January 27.
- Bharti Airtel announced the successful fund raising exercise through completion of QIP and pricing of Foreign Currency Convertible Bonds.
- IndusInd Bank Limited declared DHFL exposure as fraud.
- JSW Steel Limited posted 4.02 mn tonnes of steel production in Q3FY20, rose 5% qoq basis.
- Indigo Limited share prices rose up as DGCA extends deadline for replacement of all 135 unmodified PW engines
- GMR Infrastructure’s arm GHAL formed Joint Venture with Hong Kong’s ESR for logistics park.
- TCS Limited expanded pact with Norway’s Vipps for cloud services.
Weekly Market View
The Nifty, which opened lower, remained volatile through the session and closed flat on January 17 as traders closely watched third-quarter earnings and eagerly await Union Budget on February 1.The index managed to close above 12,350 and formed a small bullish candle on daily charts, as the closing was higher than the opening tick. For the week, it remained lacklustre and traded in a range of more than 100 points, forming a bullish candle on the weekly scale.
Weekly Nifty Bank View
The Bank Nifty started the session on a negative note and consolidated around its support of 31,500 throughout the day. Eventually, it concluded the session around the opening price and thus formed a Doji candle on the daily chart. The index was down 0.83 percent to close at 31,590.70. The banking index underperformed the benchmark indices last week and corrected by 1.58 percent to form a red-body candle on the weekly chart.
Global Markets Update
Shares in Europe and Asia edged higher on Friday after Wall Street posted more records, with strong corporate earnings and upbeat US economic data adding to optimism after China and the US signed a partial trade deal. In US, stocks rallied again on Thursday, with all three benchmark indexes closing at new records. S&P 500 settled at 3329.62. The German index DAX settled at 13526.13.
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