Indian markets saw huge correction in-line with the global market sell-off. During the morning session on Tuesday, market witnessed third day of correction ahead of RBI monetary policy meet on Wednesday.

Overall volumes in futures & options currently stand at 67.56 lakh contracts with a turnover of Rs. 5,89,594.95 crore.

Overall volumes in futures & options currently stand at 67.56 lakh contracts with a turnover of Rs. 5,89,594.95 crore.

The Nifty might open below its 100-day EMA. Going ahead, the zone of 10,300-10,330 is a very crucial support area for the Nifty and a move below 10,300 would open up for correction up to the level of 10,200. On the other hand, the area of 10,400-10,450 will remain critical resistance zone. Top stocks for the day: Brigade Enterprises, Oil India, Vijaya Bank, MOIL, PNB, Tata Motors, La Opala, EMAMI and Endurance Technologies. 

Key benchmark indices may open with sharp losses following biggest sell-off in the financial markets across globe from Asia to Europe to the United States since 2016  on concerns of inflation. The SGX Nifty indicates that the Nifty could tumble 358 points at the opening bell and open around 10,337.  

The stocks that are expected to witness a significant movement on the bourses on February 6 are Bharti Airtel/Vodafone/Idea Limited, Alok Industries Limited, Indiabulls Ventures Limited, Tata Motors Limited, Reliance Industries Limited and Endurance Technologies Limited.  

The PAT for the quarter came in at Rs 9.8 crore, a decline of 49.6% YoY. This was partly due to tax of ~25 per cent of effective tax rate as against Rs 1.46 crore tax credit in the corresponding quarter last year.

The company reported PAT of Rs 5.04 crore, which represents a sequential QoQ increase of 62.06 per cent and a YoY increase of 63.64 per cent. 

Jaguar Land Rover’s retail sales rose 3.5 per cent to 154,447 units YoY, whereas wholesale sales rose 2.2 per cent to 133,739 units. The Chinese and overseas markets were up, while the UK, US and European markets were down, reflecting more challenging conditions with cyclical weakness in the UK and the US.