Morning Mint – 21 Jan ’25

January 21, 2025

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Tuesday, January 21, 2025

Key Indices:
- The Nifty 50 closed at 23344 near the critical resistance level of 23,350. Nifty jumped back after testing the support of 23170 in the morning session and crossed above 23350 by the afternoon. Nifty remained in a range of 60 points for rest of the day after the upside move and closed at 23344
- The session reflected mixed trends due to foreign outflows and mixed corporate earnings.
- Important Levels for Nifty 50 for today:
  Support: 23,265/50, 23170/50
  Resistance: 23390, 23480, 23570
Foreign Portfolio Investors (FPIs):
- FIIs sold equities worth ₹4,337 crore, marking the 12th consecutive session of net outflows.

Tech Sector and Trump Policies:
- Trump is back in the White House. Trump is sworn in as 47th president of the USA.
- Global analysts are believing Trump’s comeback in the White House might prove to be a good news for tech industries. In this anticipation BTC is also trading near the ATH and Nasdaq is only around 700 points away from its ATH.

Zomato Q3 Results:
- Zomato posted a 57.2% decline in net profit, recording ₹59 crore versus ₹138 crore in the same quarter last year.
- The decline was attributed to increased operational costs tied to Blinkit’s expansion.
HUL Q3 Preview:
- Hindustan Unilever (HUL) is likely to report a muted quarter, with sequential volume declines, reflecting weak rural demand and limited pricing power.

The Indian Rupee appreciated by 5 paise, closing at ₹86.55 against the US Dollar.
Positive domestic equities and moderating global oil prices supported the currency.

Wipro:
- Reported a 24% rise in Q3 net profit, standing at ₹3,354 crore, with slight revenue growth of 0.5%.
Kotak Mahindra Bank:
- The bank’s Q3 net profit increased by 10%, reaching ₹3,305 crore, supported by better interest income.
Adani Energy Solutions:
- Plans to raise ₹4,200 crore through a qualified institutional placement to fund infrastructure projects.
Motilal Oswal Financial Services:
- Strong growth across business segments led to a 15% increase in net profit for Q3.

That’s all for today morning, folks! Have a great day.

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