Gift Nifty indicates a Gap up start; US markets ended bullish; Asian markets traded higher


 The domestic equity indices are expected to open higher on Friday tracking positive trends in the global markets.

Gift Nifty was trading higher, as compared with Nifty futures’ previous close of 21,741.00, indicating a gap-up start for the Indian stock market indices.

US stock market indices rebounded and ended higher on Thursday, with the tech-laden Nasdaq rallying ahead of Friday’s employment report.

The Dow Jones Industrial Average gained 0.97% while the S&P 500 rallied 1.25%. The Nasdaq ended 1.30% higher.

Asian markets traded higher on Friday tracking an overnight rally on Wall Street. Japan’s Nikkei 225 gained 0.45%, while the Topix rose 0.13%. South Korea’s Kospi rallied 1.04%, and the Kosdaq also jumped 1.16%. Hong Kong’s Hang Seng index futures indicated a higher opening.


 Hero MotoCorp: The world’s largest two-wheeler maker recorded total sales at 4,33,598 units in January 2024, rising 21.6 percent over a year-ago period, with domestic sales increasing 20.5 percent on-year to 4.2 lakh units and exports surging 74.6 percent to 12,664 units for the quarter.

Mazagon Dock Shipbuilders: The shipbuilding company said Sanjeev Singhal has been given the additional charge of the post of Chairman and Managing Director of the company for one month, with effect from February 2024. Sanjeev Singhal is currently the Director (Finance) of the company

Eicher Motors: Royal Enfield sold 76,187 motorcycles in January this year, rising 2 percent over the 74,746 units sold in the same month last year. However, export sales dropped 20 percent YoY to 5,631 motorcycles during the month

RITES: The engineering services company has registered a 12.5 percent on-year decline in consolidated profit at Rs 128.8 crore for the third quarter of FY24, impacted by muted topline and weak operating performance. Revenue from operations increased by 0.8 percent to Rs 682.9 crore compared to the corresponding period of the last fiscal.

Ashok Leyland: The country’s second-largest commercial vehicle maker recorded sales of 15,939 units in January 2024, missing analysts’ estimates and falling 7 percent compared to 17,200 units sold in the year-ago period. Its total medium and heavy commercial vehicle sales dropped 8 percent YoY to 10,218 units.

NMDC: The state-owned iron ore company recorded iron ore production of 4.54 million metric tons (mt) in January this year, growing 8.09 percent over the year-ago period, while sales grew by 18.8 percent year-to-year to 4.56 mt during the month.

Castrol India: The lubricant manufacturer has registered a net profit of Rs 242 crore for the fourth quarter of CY23, rising 25.15 percent over a year-ago period due to healthy operating numbers. Revenue grew by 7.5 percent year-on-year to Rs 1,264 crore for the quarter

Results on February 2: Tata Motors, UPL, Delhivery, Bank of India, Aegis Logistics, Bikaji Foods International, Devyani International, Dhanlaxmi Bank, Engineers India, InterGlobe Aviation, JSW Infrastructure, LIC Housing Finance, Mahindra Lifespace Developers, Metropolis Healthcare, MOIL, Samhi Hotels, Satin Creditcare Network, Sundram Fasteners, Torrent Pharmaceuticals, and Ujjivan Financial Services will be in focus ahead of declaring their December quarter earnings on February 2.