The Indian market ended the day slightly lower, with the Nifty slipping about 0.3% to finish near 26,250 after early optimism faded.
Market snapshot
Analysts see immediate support for the Nifty around the 26,000‑26,200 range. If the index holds, the next upside target could be between 26,500 and 26,700.
Banking sector highlights
- HDFC Bank: Loan growth rose 12% to Rs 28.44 lakh crore in the December quarter, with total advances at Rs 25.42 lakh crore.
- IndusInd Bank: Net advances fell 13% YoY to Rs 3.18 lakh crore and dropped 2.2% sequentially. Deposits grew modestly, while low‑cost CASA deposits slipped.
- Axis Bank: Gross advances jumped 14% YoY to Rs 11.70 lakh crore and deposits rose 15% to Rs 12.6 lakh crore.
- Kotak Mahindra Bank: Net advances increased 16% YoY to Rs 4.8 lakh crore; deposits were up 15% at Rs 5.43 lakh crore.
Corporate earnings and moves
- Trent (Tata Group retail arm): Revenue grew 17% YoY to Rs 5,220 crore, driven by value‑fashion and lifestyle stores.
- Adani Ports: Handled 41.9 MMT of cargo in December, a 9% YoY rise, with container volumes up 18%.
- Adani Power: The Supreme Court overturned a Gujarat High Court ruling that had denied relief on customs duty for power generated in its SEZ plant.
- Torrent Pharmaceuticals: Plans to raise Rs 12,500 crore through secured, rated NCDs issued on a private‑placement basis.
- Ather Energy: Appointed Surabhi Loshali as Chief Human Resources Officer.
- Dabur: Early signs of demand recovery in Q3, helped by GST rate changes and better trade conditions.
- ONGC: Signed a strategic partnership with Japan’s Mitsui OSK Lines to boost specialised energy transportation.
What this means for investors
With the Nifty testing its support zone, investors should watch the banking earnings for clues on credit growth and deposit trends. Positive revenue beats from retail and logistics firms could provide upside, while mixed results from banks may keep the market cautious.
Remember, this is perspective, not prediction. Do your own research and consider your risk tolerance before making any investment decisions.