Indices at previous closing
Nifty50: 17,925 ▲+120 (+0.6%)
Sensex: 60,223 ▲+367 (+0.6%)
Nifty Bank: 37,695 ▲+855 (+2.3%)
For more updates on F&O, click here.
New variant could dent GDP in Q4
According to the ratings agency ICRA, the new virus variant could chip off India’s GDP in the March quarter by 0.4%. It expects GDP to grow at 4.5%-5% during this period.
However, experts also believe that the impact of the new virus variant may be limited to just one quarter. Meanwhile, the Nifty50 Index has been on an upward trajectory, closing 0.6% higher today.
Macrotech jumps on strong sales
Shares of the Mumbai-based real estate developer rose 3% intraday as the company’s UK business posted their best-ever quarterly sales in the December quarter. The projects in the UK reported sales worth £191 million (₹1,900 crore) during this period.
The company's Grosvenor Square project in London has witnessed pre-sales worth around £300 million in two quarters. Hence, the company believes that the project will be completely sold out before the target of Q4FY24.
Oil prices march upwards
US crude oil is trading above the $78 per barrel mark as the OPEC+ producers have decided to stick to their February output target.
However, analysts believe that the oil producing nations will struggle to meet the output target as three of their group members are finding it difficult to raise production capacities.
Sectoral indices (January 5)
| Top gainers | Top losers |
| Nifty Bank ▲ 2.3% | Nifty IT ▼ 1.9% |
| Nifty Financial Services ▲ 2.0% | Nifty Media ▼ 0.4% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.8% |
| Nikkei 225 (Japan) | ▼ 2.1% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▼ 0.8% |
| Dow Jones (US) (January 5) | ▼ 1.0% |
| NYSE (US) (January 5) | ▼ 1.2% |
| Nasdaq (US) (January 5) | ▼ 3.3% |
| S&P 500 (US) (January 5) | ▼ 1.9% |
Fact of the day
In May 2021, the world’s most popular football league English Premier League sold TV rights for a whopping £5.1 billion (₹51,328 crore) for the next three seasons.
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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.