scorecardresearchStocks To Watch: Markets set for muted start; HUL, Sun Pharma, HZL, AU

Stocks To Watch: Markets set for muted start; HUL, Sun Pharma, HZL, AU Small Finance Bank are stocks in news today

Updated: 20 Jan 2023, 08:19 AM IST
TL;DR.

Indian stocks are set to open with a muted start, tracking a slide in global equities due to concerns over expectations of a pause in the fastest rate hiking cycle in the US since the 1980s. Domestic equities will react to key earnings released yesterday, while Reliance Industries' December quarter results will be released post market hours today. Oil prices hovering above $86.5 per barrel is a negative for India as it is an oil-importing country. Foreign investors bought 4 billion rupees worth of shares on Thursday, while domestic investors sold 1.29 billion rupees. Hindustan Unilever, Sun Pharma, Hindustan Zinc, and AU Small Finance Bank are some stocks to watch.

Sensex, Nifty ended in the green on January 13.

Sensex, Nifty ended in the green on January 13.

(Reuters) - Indian stocks were set for a muted start on Friday, tracking a slide in global equities on fears of an aggressive stance by global central banks and a rise in oil prices.

India's NSE stock futures listed on the Singapore exchange were up 0.1% at 18,132, as of 8:10 a.m. IST.

Wall Street equities declined overnight on Thursday with data indicating a strong labour market, which raised concerns over expectations of a pause in the fastest rate hiking cycle in the U.S. since the 1980s.

European equities also fell, posting their worst day in 2023 so far after European Central Bank president Christine Lagarde reiterated its determination to tackle the rise in inflation through rate hikes.

Asian markets recovered from a mixed start on Friday, with the MSCI's gauge of Asia Pacific stocks outside Japan rising 0.30%.

Domestic equities will react to a host of key earnings that were released on Thursday, while the December quarter results of India's top firm by revenue, Reliance Industries, is set to be released post market hours on Friday.

Adding to the worries in domestic equities is the uptick in oil prices, which hovered above $86.5 per barrel on hopes of demand recovery in China. High oil prices are a negative for oil-importing countries like India, where crude constitutes the bulk of the import bill.

Meanwhile, foreign institutional investors bought 4 billion rupees worth of shares on Thursday on a net basis, while domestic investors sold 1.29 billion rupees of shares on a net basis, as per provisional NSE data.

STOCKS TO WATCH

** Hindustan Unilever: Co reports net profit in third quarter that beat estimates, to pay higher royalties to UK parent.

** Sun Pharma: Co buys U.S.-based Concert Pharmaceuticals for $576 mln in cash to gain access to its experimental drug to treat patchy baldness.

** Hindustan Zinc: Co reports slide in net profit in December quarter on lower prices, output.

** AU Small Finance Bank: Co reports rise in net profit in December quarter, asset quality improves. 

First Published: 20 Jan 2023, 08:19 AM IST