Results that will be out on January 30 include Larsen & Toubro, Bajaj Finserv, Tech Mahindra, Bharat Petroleum Corporation, Bajaj Holdings & Investment, GAIL, SRF, Punjab National Bank, REC, Laurus Labs, IIFL Finance, Trident, Exide Industries, Nippon Life India Asset Management, Mazagon Dock Shipbuilders, Welspun as well as Inox Leisure.

Aditya Birla Sun Life AMC on Friday reported an 11 per cent decline in profit after tax (PAT) to Rs 166.3 crore for three months ended December 2022. In comparison, the company had posted a PAT of Rs 186.2 crore in the same quarter of the preceding fiscal, the asset management firm said in a regulatory filing.

From the past 4 weeks, the index has been trading in the range of 17770 to 18200. The underlying tone of the market is sideways to negative as the index had formed a bearish engulfing pattern on the monthly chart which is a bearish reversal sign. On the lower side, the index has strong support at 17800 level as it is neckline of Inverted head and shoulder pattern and 100 EMA support on daily chart.

“The market tends to be volatile and so the impact of steep Fed rate hikes and quantitative tightening always happens with a lag and the economic impact of that will be seen in the next 2-4 months. We have to keep all those factors in mind. Markets are at a fair valuation and expect a reasonably range-bound to volatile market, which could do well in the second half of the year. ”

The sale is part of Aditya Birla Capital Chief Executive Officer Vishakha Mulyes efforts to restructure the companys businesses, which range from asset management to mortgage financing, in order to boost shareholder returns, the people said.

“Were seeing consolidation on the expected lines, which is healthy after the recent surge. We expect the resumption of the trend soon, meanwhile focus on sectors that are attracting buying interest on every dip and select the stocks accordingly,” Ajit Mishra, VP - Research at Religare Broking, said.

The weakness on Wall Street on Friday could weigh on Asian markets on Monday. Ashok Leyland, LIC Housing Finance, Voltas, Havells, Crompton, SBI Cards, Chola Finance, and Aditya Birla Capital are some of the stocks investors can buy for short-term trades, said analysts.

On the 500 index, about 400 shares settled in green, whereas more than 100 stocks ended in red. About two dozen counters rose in double digits but none of the stocks dropped more than 7% for the week.

“We never like or dislike a stock permanently. One has to look at the risk reward of the individual stocks. In investing, one should never say no to anything. One has to constantly keep on looking at and we have taken these two PSU names. So do not think that we do not buy PSUs. As long as we understand and see that things are in the right place and in favour, we will go for these stocks.”

Stocks that were in focus include names like Aditya Birla Capital which was up over 5%, Bank of India which gained nearly 3%, and IDBI Bank which hit a fresh 52-week high to close with gains of over 2% on Tuesday.

“Technically, the market is consistently holding higher high and higher low formation, which is broadly positive. Hence, the support has now shifted to 18,550 from 18,450. As long as the index is trading above 18,550, the uptrend wave is likely to continue. Above which, the market could move up to 18,750-18,800,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.

The stock with a market capitalisation of more than Rs 32,000 crore hit a 52-week high of Rs 139 on 11 January 2022, but it failed to hold on to the momentum. The stock recouped most of the lost glory and is on the verge to hit fresh 52-week highs. The recent price action suggests that the upside remains intact.

The volatility index, India VIX, has slipped to 13.4 indicating choppiness is gradually subsiding and thus providing comfort to the bulls. Chart patterns suggest the 13-exponential moving average zone of 18,200-18,250 will be a strong support.

"We expect the Nifty to be positively biased. FIIs have started the series with 77% longs in index. Every time Bank Nifty leads the rally, it has more strength. We expect the same, at least in the first fortnight of December. So, the indices might be in 18,100-18,800 and 42,000-44,500 might range for the indices and 18,100 and above the bias is positive for the December series."

"We expect the Nifty to be positively biased. FIIs have started the series with 77% longs in index. Every time Bank Nifty leads the rally, it has more strength. We expect the same, at least in the first fortnight of December. So, the indices might be in 18,100-18,800 and 42,000-44,500 might range for the indices and 18,100 and above the bias is positive for the December series."

Indian markets opened higher on Thursday tracking positive global cues. The S&P BSE Sensex rose more than 100 points while Nifty50 reclaimed 18,300 levels.

The banking index remains in a buy-on-dip mode as long as the mentioned support levels are held. The momentum oscillators are in the buy zone which will confirm the strength of the index.

Tata Motors, Pidilite , P&GHH, Star Health, Godrej Properties, Deepak Nitrite, 3M India, General Insurance, Bayer Cropscience and Piramal Enterprises are among the companies that will announce their results for September 2022 quarter today.

Demand for loans remained strong in the quarter with disbursements growing more than two times the previous year at ₹12,488 crore. About 70% of the total went to retail, SME and HNI segments.

Demand for loans remained strong in the quarter with disbursements growing more than two times the previous year at ₹12,488 crore. About 70% of the total went to retail, SME and HNI segments.

Further, the board of Sequent Scientific other than the quarterly results will deliberate on the preferential issue. The board of BLS International will meet to consider the proposal for the issue of bonus shares to the equity shareholders of the company.

Major Asian stocks opened higher on Monday as global market sentiment improved on solid US jobs data and hopes for an economic reopening in China. MSCI's index of Asia-Pacific shares outside Japan was trading 0.63 per cent higher.

Coal India, Divi's Labs, BPCL, Paytm, AB Capital, Sundaram Finance, Tata Teleservices, Vinati Organics, KRP Mills, Endurance Tech, PB Fintech and Affle are among the companies that will announce their results for September 2022 quarter today.

CLSA downgraded Tata Steel to sell with a target price of Rs 90 as Q2 results were below estimates.