Benchmark indices snapped three-day losing streak to settle with gains on Friday after value buying in heavyweight stocks and a strong trend in global markets.
The BSE Sensex jumped 496.37 points or 0.70 per cent to settle at 71,683.23. The NSE Nifty climbed 160.15 points or 0.75 per cent to close at 21,622.40.
All the sectors ended higher. Oil & gas jumped 2.17 per cent, metal rallied 1.69 per cent, industrials jumped 1.62 per cent, energy climbed 1.58 per cent, commodities jumped 1.44 per cent, teck (1.29 per cent) and IT (1.06 per cent).
“Investors will track the results of key index heavyweights like Reliance, HUL, ICICI Bank, and Kotak Bank which will be released over the weekend. In a truncated week, the market will take cues from global factors including Bank of Japan and European Central Bank meetings and economic data from the US, China, and Japan. Next week the result season will pick up pace with a host of key large and mid-cap companies releasing their numbers. Overall we expect domestic equities to trade in a broader range with positive bias,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
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Here are the top stocks to watch on 20 January:
Reliance Industries
Reliance Industries reported a consolidated revenue of Rs 2,25,086 crore for December 2023 quarter, a decline of 2.98 per cent year-on-year from Rs 2,31,886 crore from year-ago period. EBITDA for the reported quarter stood at Rs 40,656 crore, down 0.77 per cent from Rs 40,968 crore in previous year. The net profit fell 0.74 per cent to Rs 17,265 crore compared to Rs 17,394 crore in the year-ago quarter.
Hindustan Unilever
The FMCG giant reported a 0.6 per cent year-on-year surge in standalone net profit at Rs 2,519 crore for the October-December quarter of FY24, due to weak topline and muted margin growth. Revenue from operations decreased 0.3 per cent to Rs 15,188 crore compared to the year-ago period.
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Zee Entertainment
The company responded to media reports of Sony’s board to take a call on a $10 billion merger with Zee Entertainment. Zee said that it is unaware of any board meeting held or proposed to be held by Sony India and added that the company and that it is committed to the merger with Sony
One97 Communications
The parent company of Paytm reported a net loss of Rs 221.7 crore for the December 2023 quarter against a loss of Rs 392.1 crore in year-ago period. Revenue from operations surged 38.2 percent year-on-year to Rs 2,850.5 crore for the quarter.
KPI Green
The company’s subsidiary KPIG Energia has secured a new order of 5.60 MW for executing a solar power project from Shree Varudi Paper Mill LLP.
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