Show-stopper

Nifty50: 17,925▲+120 (+0.6%)
Sensex: 60,223 ▲+367 (+0.6%)

• The markets rallied further with the Bajaj twins acting as show-stoppers
• Back from the new year holidays, foreign investors (FIIs) have been net buyers for the last three sessions
• The India VIX spiked 7% today, indicating that traders expect the volatility to rise in coming days 
• Among the Nifty sectoral indices, Bank (+2.3%) and Financial Services (+2.0%) were the top gainers. Whereas, IT (-1.9%) and Media (-0.4%) were the top losers.

For more updates on F&O, click here.

Here are the top stories of the day.

Bajaj Finance posts bumper Q3 

In the December quarter, the private lender’s  asset under management (AUM) jumped 26% year-on-year to ₹1.8 lakh crore. The company said that it is well capitalised and its capital adequacy ratio stood at 27%, which is way above the required 15%.

Also, the lender acquired 26 lakh new customers in Q3FY22, up 18%. Itss total customer base stands at 5.5 crore.

Thermax boils on order win

Shares of energy and environment solutions provider jumped 6% intraday as it bagged a ₹546 crore order. The order is from an Indian power public sector company to set up flue gas desulphurisation (FGD) systems.

FGD systems help to cut down sulphur oxide emissions at power plants. Thermax expects to complete the project in 30 months. Meanwhile, Thermax’s shares nearly doubled in 2021. 

Domestic steel consumption set to rise

As per industry reports, the domestic steel consumption is set to rise by 7% year-on-year in 2022. The demand is expected to be led by the government's infrastructure push and increasing demand from construction and engineering sectors.

For 2021, experts believe the consumption growth would be about 17% albeit on a lower base. Meanwhile, amidst the resurgence of new cases, the supply chain performance will play a crucial role in industry performance. Meanwhile, the Nifty Metal index was up 1.3% today.

IPO corner

Of the 12 companies that made their debuts on the stock exchanges in December 2021, three have delivered stellar returns. Supriya Lifescience, C.E. Info Systems and HP Adhesives have risen by 74%, 71% and 56%, respectively against their issue prices. 

On the other hand, Metro Brands, Star Health Insurance and Shriram Properties are trading below their respective issue prices. But the IPO party is far from over in 2022 with 23 companies expected to hit the bourse in Q4FY22. 

Good to know

What is India VIX?

The volatility index is termed as India VIX. It indicates the degree of volatility or fluctuation traders expect over the next 30 days in the Nifty50 Index. If the India VIX is at 20, it means that the trader expects a volatility of +20% and -20% from the current Nifty value over the next 30 days. Nifty and India VIX are indirectly correlated. High VIX indicates fear in the market while a low VIX indicates a possible buying interest.

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