Sensex, Nifty50 likely to open on a positive note amid positive global cues: Adani Enterprises, Tata Motors, Bajaj Finance among stocks in focus

• India’s benchmark indices Sensex and Nifty50 are likely to open in the green on Friday amid positive global cues.
  
• SGX Nifty, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today.
  
• Adani Enterprises, Tata Motors, Bajaj Finance are amongst stocks in focus on Friday.
  

India’s benchmark indices Sensex and Nifty50 are likely to open in the green on Friday amid positive global cues. SGX Nifty, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today.

Earlier on Wednesday, Sensex and Nifty50 both experienced heavy selling – while Sensex declined 1.27%, Nifty50 fell 1.25% and closed below the 18,000 level. The markets were closed on Thursday, January 26, on account of Republic Day.

The Indian rupee was closed nearly flat against the US dollar on Wednesday, down 2 paise to end at 81.65. Crude oil prices edged up to $87.55 per barrel on Friday morning, up 0.31%.

US markets experience choppy trading ahead of next week’s US Fed meeting

Markets in the US witnessed choppy trading on Thursday as investors started gearing up for next week’s US Fed meeting. Despite the volatility, the S&P 500 index closed at its highest level in a month, ending 1.1% up. The Dow Jones Industrial Average gained 0.61%, while the tech-heavy Nasdaq rallied 1.76%.

In Asia, markets were in the green on Friday, led by Korea’s KOSPI which was up 0.9%, followed by Straits Times which gained 0.4%. The Hang Seng index was flat, up by 0.01%, while the Nikkei 225 index gained 0.07% on Friday.

The Shanghai Composite index was closed on account of the Lunar New Year holiday.

Stocks to watch

Adani Enterprises: The Adani Enterprises’ ₹20,000 crore follow-on public offer (FPO) will go live today, with a price band of ₹3,112-3,276 per share. The company has raised ₹5,985 crore from anchor investors. The FPO will be open for subscription from January 27 to January 31.

Tata Motors: The automaker reported its first consolidated net profit after seven quarters. Its consolidated net profit stood at ₹2,958 crore in Q3 on the back of strong domestic sales as well as a rebound in JLR sales. Its consolidated revenue grew 22.5% year-on-year to ₹88,489 crore.

Bharti Airtel: The telco has increased the prices of its cheapest plan by 57% in seven circles as it looks to boost its average revenue per user (ARPU).

Future Retail: Kishore Biyani, the founder of Future Group has resigned as the company’s executive chairman and director.

Earnings today: Bajaj Finance, Vedanta, Aarti Drugs, Anupam Rasayan India, Aditya Birla Sun Life AMC, Sterlite Technologies, Glenmark Life Sciences, among others.

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