Nifty50: 18,257▲45 (+0.2%)
Sensex: 61,235 ▲85 (+0.1%)
- The markets inched up further but closed near their opening levels, which indicates indecision.
- Rising inflationary pressure weighed on banking stocks, which in turn put pressure on the overall indices.
- A break on either side of today’s range of Nifty50 will give cues for the future direction.
- Among the Nifty sectoral indices, Metal (+3.4%) and Pharma (+1.5%) were the top gainers, whereas Realty (-0.7%) and Bank (-0,6%) were the top losers.
| Top gainers | Today's change |
| Tata Steel | ▲ 6.2% |
| JSW Steel | ▲ 4.3% |
| Sun Pharma | ▲ 3.5% |
| Top losers | Today's change |
| Wipro | ▼ 5.9% |
| Asian Paints | ▼ 2.4% |
| HCL Tech | ▼ 1.8% |
For more updates on F&O, click here.
Here are the top stories of the day.
TVS Motor teams up with Swiggy
TVS Motor and Swiggy have entered into a strategic partnership for the adoption of EVs in food delivery and on-demand delivery services. TVS Motor said that this collaboration will help expand the presence of its electric scooter to all major cities by the end of the financial year.
As per reports, Swiggy has about 2 lakh delivery partners and aims to make deliveries spanning 8 lakh km/day through EVs by 2025.
Equitas SFB’s CASA deposits jump
In the December quarter, the small finance bank’s current account-saving account (CASA) deposits rose sharply by 129% year-on-year. Since interest rates on CASA are lower than term deposits, they are a cheaper source of funds for banks.
This propelled the bank’s total deposits by 13%. Similarly, its gross advances grew 13% year-on-year to ₹19,642 crore. Meanwhile, after a sharp fall of more than 4% last week, the stock is now moving sideways.
Adani and POSCO sign MoU
Adani Enterprises and South Korean steelmaker POSCO signed an MoU to set up an environment-friendly integrated steel mill in Gujarat as well as other businesses. The investment is estimated to be around $5 billion (about ₹37,500 crore).
As part of the agreement, the companies will also extend their collaboration to renewable energy, hydrogen-related projects and logistics for carbon reduction requirements.
IPO corner
ATM and cash management company AGS Transact Technologies’ IPO will open for subscription on January 19. The public issue of ₹680 crore will entirely be an offer for sale. Click here to know more about the IPO.
Good to know
What is a minimum viable product (MVP)?
MVP is a version of a new product that allows the business to understand customer behaviour with minimum efforts. This helps the business to see what people actually do with the product rather than asking people what they would do. Based on the product feedback from the customers, businesses may dramatically change the product or abandon the product altogether.
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