Indices Start On A Flat Note With Negative Bias On Sombre Asian Equities

On losses in the SGX Nifty and simultaneous weakness in Asian equities, Indian indices are set to open weak on the first day of trading week to January 22, 2021. US markets also ended on a somber note on Friday. At the start, there was weakish sentiment with indices down by a margin, Nifty and Sensex at start quoted at 14425 and 48986, respectively.

The country's first PSU NBFC firm IRFC opens its IPO offer for public subscription today.
Investors' reaction to HDFC Bank results reported on Saturday shall be watched out for. The private sector lender reported 18% jump in consolidated profit for the Q3 period of FY 21 driven by increase in NII and other income.

Metropolis in order to bolster its presence in Southern India will acquire Dr Ganesan's Hitech Diagnostic Centre.

Wipro has been selected as a strategic technology services partner by Fiat Chrysler Automobiles for building its first Global Digital Hub in Hyderabad. Meanwhile, the company said it has completed its Rs 9,500-crore share buyback programme. The scrip in early trade was down by a margin and hit day's low of Rs. 437 per share.

Meanwhile, on weak US consumer spending data which tempers risk sentiment, Asianindices traded mixed with Hang Seng, Jakarta and Shanghai Composite trading positive while all other Asian indices traded weak.

Also, gold perceived to be a store of value is at its 1.5 month low price levels as resilient dollar reduces its sheen.

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