Indices Start On A Strong Note; RIL Top Loser

In line with gains in the Asian indices, Indian indices are set to open on a higher note after over 700 fall on the Sensex in the previous session. At the start Sensex was up over 300 points while Nifty was up by 100 points.

At the start, top gainers on the Nifty have been JSW Steel, UltraTech Cement, Grasim, Tata Motors, while losers include Reliance and Infosys.

Stove Kraft IPO, the fourth IPO of 2021 will open today for subscription valued at Rs.

RIL shares will be in focus too after the company on Friday post market hours came up with its Q3FY21 results with a 12.5% jump in net profit on a year on basis. This has been achieved owing to lower expenses.

Yes Bank shares will be also tracked after its NPAs touched 20% for the third quarter but for the Supreme Court order. And the management says the asset quality shall improve from the next quarter.

Oil prices have also down in trade for the second consecutive day after fresh lockdown situation in few countries raised concerns about fuel demand. Brent crude futures for March fell 15 cents, or 0.3%, to $55.26 a barrel by 0158 GMT, while U.S. West Texas Intermediate crude for March was at $52.19 a barrel, down 8 cents, or 0.2%.

For the January month, FPIs have been net investors into Indian equity to the tune of Rs. 18456 crore.

Meanwhile, there was cautiousness in the Asian markets on fresh Covid19 restrictions as well as on doubts over the ability of Covid 19 vaccine to supply the doses in promised time, which dampened overall risk sentiment.

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