Gift Nifty indicates a Negative start for the Indian indices; Asian markets traded mixed; US markets traded higher

The benchmark Sensex and Nifty indices are likely to open lower on February 5 as trends in the GIFT Nifty indicate a negative start

US stocks ended sharply higher on Friday and the S&P 500 registered an all-time closing high as strong earnings and a blowout January employment report boosted confidence in the economy

The S&P 500 climbed 1.07 percent to end the session. The Nasdaq gained 1.74 percent, while the Dow Jones Industrial Average rose 0.35 percent.

Asian markets kickstarted this holiday-shortened week mixed as investors awaited policy decisions from key central banks, including from the Reserve Bank of Australia on Tuesday and the Reserve Bank of India on Thursday.

Japan’s Nikkei rose 0.5%. Hong Kong’s Hang Seng Index fell 0.5% in early trading.


InterGlobe Aviation: The low-cost airline company has registered a massive 110.7 percent on-year growth in profit at Rs 2,998.1 crore for the October–December period of FY24, driven by healthy topline and operating performance. Revenue from operations for the quarter increased by 30 percent to Rs 19,452 crore compared to the corresponding period of the last fiscal.

Paytm: Foreign institutional investor Morgan Stanley Asia (Singapore) Pte. Ltd. (ODI has bought 50 lakh equity shares, equivalent to 0.79 percent of paid-up equity, at an average price of Rs 487.2 per share. The Paytm shares were valued at Rs 243.6 crore. The circuit limit lowered to 10% from 20% earlier, after a consistent sharp correction in the stock price last week.

PB Fintech: Venture capital fund PI Opportunities Fund II has sold 46,43,528 equity shares, which is equivalent to 1.03 percent of total paid-up equity, via open market transactions. These shares were sold at an average price of Rs 985.07 per share, valued at Rs 457.42 crore. PI Opportunities Fund held a 1.93 percent stake in the company in December 2023.

Zee Entertainment Enterprises: The Singapore International Arbitration Centre (SIAC) has denied interim relief to Culver Max, which operates Sony Pictures Networks India, and Bangla Entertainment, against Zee Entertainment Enterprises’ plea before the National Company Law Tribunal (NCLT) seeking the implementation of the merger scheme, as per a regulatory filing. SIAC has determined that its emergency arbitrator has “no jurisdiction or authority to injure the company from approaching the NCLT to implement the merger scheme since these matters fall within the statutory system and are for the NCLT to decide.

LIC Housing Finance: The housing finance company has recorded a massive 142 percent on-year increase in net profit at Rs 1,163 crore for the quarter ended December FY24. Net interest income grew by 31 percent year-on-year to Rs 2,097 crore, and revenue from operations rose 16 percent to Rs 6,792 crore in Q3 FY24, while the outstanding loan portfolio was up by 5 percent to Rs 2,81,206 crore for the quarter.

MOIL: The state-owned manganese ore mining company has registered a 37 percent year-on-year growth in net profit at Rs 54.1 crore for the October–December period of FY24, driven by healthy operating numbers. Revenue from operations increased by 1.4 percent to Rs 306.3 crore compared to the year-ago period.

Bajaj Finance: The company has entered into a Securities Subscription Agreement or Shareholders’ Agreement to acquire a 7 percent stake (on a fully diluted basis) in RMBS Development Company.

Results on February 5: Bharti Airtel, Alembic Pharmaceuticals, Ashok Leyland, ASK Automotive, Sun Pharma Advanced Research Company, Bajaj Consumer Care, Bajaj Electricals, Barbeque-Nation Hospitality, eMudhra, Fusion Micro Finance, Ideaforge Technology, Insecticides (India), Linde India, Tata Chemicals, Triveni Turbine, TVS Supply Chain Solutions, Unichem Laboratories, Varun Beverages, and Vijaya Diagnostic Centre will be declaring their quarterly earnings on February 5.