The Indian stock market snapped its five-session losing streak on Monday. It is now poised for a positive opening on Tuesday. Early trends from Gift Nifty indicate a green start. The index was trading at 25,920, up about 63 points or 0.24% from its previous close.
Market Rebounds Strongly on Monday
On Monday, Indian indices ended their losing run. The Sensex and Nifty 50 closed higher. Value buying in an oversold market supported the gains. This came after signs emerged that India and the US were moving closer to resolving trade deal differences.
The session witnessed a strong rebound. The Sensex had slipped over 700 points to an intraday low of 82,861 in the first half. It then recovered sharply to close at 83,878.17. This marked a gain of 302 points or 0.36%. The rebound from the day's low was a solid 1,017 points.
Meanwhile, the Nifty 50 rose 107 points, or 0.42%. It settled at 25,790.25.
Analyst Insights on the Recovery
Vinod Nair, Head of Research at Geojit Investments Limited, commented on the market movement. He said the Indian market rebounded from the day's lows as investor sentiment improved. This followed favourable remarks on the trade deal by the U.S. Ambassador ahead of the next round of negotiations.
Nair noted that this positive undertone provided a lift to overall market sentiment. The commodities segment outperformed. It was supported by strength in metals, which benefited from renewed buying interest during supply constraints.
Value buying was also evident in consumer and banking stocks. Investors sought opportunities after recent corrections. This was supported by expectations of stronger Q3 earnings and improving demand. Additionally, precious metals maintained their upward momentum amid persistent geopolitical tensions.
Stocks to Watch on Tuesday
Against this backdrop, several stocks may attract investor interest today. They are likely to experience some movement.
Companies Reporting Quarterly Results
Shares of ICICI Prudential Life, ICICI Lombard, Just Dial, Tata Elxsi, and Bank of Maharashtra will remain in focus. These companies will report their December quarter results today.
Tata Consultancy Services (TCS)
Tata Consultancy Services posted its December quarter results on Monday. The company reported a 14% year-on-year decline in its consolidated net profit. Profit fell to ₹10,657 crore from ₹12,380 crore in the same period last year.
HCL Technologies
HCL Technologies also posted its December quarter results on Monday. The company reported an 11% decline in consolidated net profit. Earnings slipped to ₹4,076 crore from ₹4,591 crore in the same period last year.
Ola Electric
Ola Electric said it has begun rolling out its first battery energy storage system, Shakti. The rollout is from its manufacturing facility in Krishnagiri, Tamil Nadu.
Larsen & Toubro (L&T)
Engineering major Larsen & Toubro announced a significant move on Monday. The company will purchase the remaining 40% stake in L&T Sapura Shipping Private Limited from Sapura Nautical Power Pte Ltd. The deal is valued at ₹122.4 crore. This will turn the offshore marine construction firm into a wholly owned subsidiary.
Biocon
Biocon has initiated a qualified institutional placement worth ₹4,150 crore. It set an indicative issue price of ₹368.35 per share. This represents about a 5% discount to the prevailing market price. The funds will support the company's growth plans.
Anand Rathi Wealth
The company posted strong financial results. Net profit increased 29% year-on-year to ₹99.7 crore. This was supported by a 22% rise in revenue to ₹289.6 crore. EBITDA climbed 22.6% to ₹131.8 crore. Margins remained stable at 45.5%.
KP Green Energy
KP Green Energy has entered into an agreement with the Gujarat government. The deal involves setting up renewable energy projects valued at ₹4,000 crore. This highlights the company's push into large-scale sustainable infrastructure development.
NLC India
NLC India's board has given approval for the listing of its subsidiary, NLC India Renewables. The plan involves a 25% stake dilution along with an investment of ₹66.7 crore. The company also announced an interim dividend of ₹3.6 per share. January 16 is fixed as the record date.
TVS Supply Chain
TVS Supply Chain Solutions announced a new contract win on Monday. It has won a contract from Daimler India Commercial Vehicles. The contract involves handling in-plant warehouse operations at DICV's manufacturing unit in Chennai.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
