Indices at previous closing
Nifty50: 18,003 ▲190 (+1.0%)
Sensex: 60,395 ▲650 (+1.0%)
Nifty Bank: 38,347 ▲+608 (+1.6%)
For more updates on F&O, click here.
Sunteck Realty posts robust Q3 numbers
In the December quarter, the Mumbai-based realtor’s pre-sales (bookings for under construction projects) rose 29% quarter-on-quarter to ₹352 crore. In the same period, the collections were also up 30% to ₹270 crore.
The management said that it has a slew of projects lined up in the premium and aspirational residential segment in the upcoming quarters. Meanwhile, shares of the company were up 12% yesterday.
Four US Fed rate hikes expected
The US central bank could raise key interest rates four times this year, according to experts. With the inflation still above the US Fed’s target, it is also expected to roll back stimulus sooner-than-expected.
Experts also point to the unemployment rate falling below 4% and wages increasing. This signals that the economy is rapidly recovering and may push the Federal Reserve to tighten the liquidity. Meanwhile, the Nifty50 rose 1.0% on Monday.
Oil prices steady amid virus threat
The prices of crude oil were trading in a narrow range on Monday as concerns over the supply offset the impact of the new virus variant on the demand.
Oil prices rose nearly 5% last week as the production in Kazakhstan and Libya was disrupted. Also, the sharp fall in oil inventories has also lent support to oil prices.
Sectoral indices (January 10)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 3.2% | NA |
| Nifty Media ▲ 2.2% | NA |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▼ 0.9% |
| Hang Seng (Hong Kong) | ▼ 0.2% |
| SSE Composite (China) | ▼ 0.0% |
| Dow Jones (US) (January 10) | ▼ 0.4% |
| NYSE (US) (January 10) | ▼ 0.2% |
| Nasdaq (US) (January 10) | ▲ 0.0% |
| S&P 500 (US) (January 10) | ▼ 0.1% |
Fact of the day
Nishiyama Onsen Keiunkan in Japan is the world’s oldest hotel, which was founded in 705 AD.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.