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Indices Start On A Flat Note; Bank Stocks To Be In Focus

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In line with losses on the SGX Nifty, there is expected a flat start in today's session after almost 11 straight session of record highs on the street. At the open Sensex was down 0.32% at 49158, while Nifty inched lower by 0.2% at 14456. Nifty Bank and broader markets underperformed the headline indices.

 

In the US, the sentiment was weak as the US stimulus to fight the pandemic could be delayed as House of Democrats introduced a resolution to impeach US President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol by his supporters.

Indices Start On A Flat Note; Bank Stocks To Be In Focus

As in early trade, there will be pressure on the banking pack after RBI's Shaktikanta Das points to exact weakness in the banking sector and expected higher NPAs going ahead.

Tata Motors scrip shall be in focus again after over 12% gains in the previous session on likely deal with Tesla for manufacturing electric vehicles in India using the former's facilities and infra.

Shares of Gail shall also be in focus as the company's board is to meet on January 15 for discussing share buyback.

 

Burger King scrip which saw massive listing gains and is now seeing no buyers will also be in focus as Eastspring Investments India Consumer Equity Open sold 27,55,323 equity shares in the company at Rs 154.92 per share on the NSE.

Paint stocks are also seeing traction as Indigo Paints will open its Rs. 1000 crore anytime soon but analysts warn of their rich valuations.

Meanwhile, Asian indices are trading on a positive note with Japan's Nikkei up at the time of writing this copy.

GoodReturns.in
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