Key indices ended a volatile trading session on a flat note on Friday. The Nifty ended above the 18,200 mark after hitting a day's low of 18,119.65 in early trade. Realty, IT and consumer durables stocks edged higher while FMCG, banking and financial stocks succumbed to selling pressure. As per the provisional closing data, the barometer index, the S&P BSE Sensex, fell 12.27 points or 0.02% at 61,223.01. The Nifty 50 index declined 2.05 points or 0.01% to 18,255.75. In the broader market, the S&P BSE Mid-Cap index rose 0.22% while the S&P BSE Small-Cap index added 0.5%. Buyers outnumbered sellers. On the BSE, 2,060 shares rose and 1,341 shares fell. A total of 102 shares were unchanged.

COVID-19 Update:

In last 24 hours, India reported 2,64,202 fresh COVID cases, as per the health ministry's data. The country reported 315 new deaths taking the death toll to 4,85,350.

Meanwhile, the World Health Organization approved two new COVID-19 treatments, to stave off severe illness and death from the virus.

The Ministry of Health and Family Welfare stated yesterday that more than 157.50 crore (1,57,50,62,435) vaccine doses have been provided to States/UTs so far through Govt. of India (free of cost channel) and through direct state procurement category.

Economy:

The wholesale inflation across the country rose to 13.56% in December, data released by the Ministry of Commerce & Industry showed.

The wholesale price index (WPI) grew 14.23% during the month of November, while the WPI for October was revised to 13.83% from 12.54%, the data showed. The WPI in December 2020 was at 1.95%.

"The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year," the statement read.

India's overall exports (Merchandise and Services combined) in December 2021 are estimated to be $57.87 Billion, exhibiting a positive growth of 25.05% over the same period last year and a positive growth of 23.35% over December 2019. Overall imports in December 2021 are estimated to be $72.35 Billion, exhibiting a positive growth of 33.86% over the same period last year and a positive growth of 40.30% over December 2019.

Meanwhile, India and the UK have formally launched negotiations for a Free Trade Agreement between two countries. The Joint Statement of Commerce and Industry Minister Piyush Goyal and UK Secretary of State for International Trade Anne-Marie Trevelyan said the Free Trade Agreement would be a substantial opportunity for both economies and a significant moment in the bilateral relationship. India and the UK will seek to agree a mutually beneficial agreement supporting jobs, businesses and communities in both countries. Trade negotiations will be a priority for both countries.

Results Today:

HCL Technologies (up 0.13%) and Tinplate Company of India (up 2.32%) will announce their quarterly result today.

Stocks in Spotlight:

Aditya Birla Money slipped 2.74%. The company's net profit jumped 53.8% to Rs 6.46 crore on a 23% rise in total income to Rs 60.75 crore in Q3 FY22 over Q3 FY21. On the segmental front, revenue from Broking business was Rs 53.66 crore (up 32.9% YoY), Income/Gain from securities was Rs 5.12 crore (down 25.6% YoY) and other revenue was Rs 1.47 crore (down 4.2% YoY) during the period under review. While the company's net profit has remained flat, total income has risen by 4.7% in Q3 FY22 as compared with Q2 FY22. Operating margin was 15.19% in Q3 FY22 as against 12.26% in Q3 FY21 and 15.80% in Q2 FY22.

Tata Metaliks fell 4.34% after net profit declined 52.58% to Rs 35.65 crore on 31.08% rise in net sales to Rs 689.80 crore in Q3 FY22 over Q3 FY21. Profit before tax fell 54% to Rs 50.3 crore in Q3 FY22 over Q3 FY21.

Mindtree reported fell 4.25%. The IT company reported a 9.7% rise in consolidated net profit to Rs 437.50 crore on 6.3% increase in revenue from operations to Rs 2,750 crore in Q3 FY22 over Q2 FY22.

Glenmark Pharmaceuticals was down 1.05%. Glenmark Pharmaceuticals announced that its wholly-owned subsidiary, Glenmark Specialty S.A. (Switzerland), received a United States Food & Drug Administration (FDA) approval for its new drug Ryaltris nasal spray.

Ashoka Buildcon fell 0.53% after the company said it has emerged as the lowest bidder (L-1) for a road contruction project in Karnataka. The road construction company had submitted its bid to the National Highways Authority of India (NHAI) for a road contruction project in Karnataka. The projects entail construction of six laning from Belgaum to Sankeshwar bypass in Karnataka on engineering, procurement & construction (EPC) mode under Bharatmala Pariyojana. The company emerged as the lowest bidder (L-1) and the quoted bid price of the project is Rs 829.49 crore.

Hero Motocorp lost 0.91%. The two wheeler marker said that it has expanded its operations and commenced retail sales at a newly opened flagship store in the El Salvador's capital city San Salvador. The showroom offers sales, service and spares operations and is spread over 600 sq. mt. In El Salvador, Hero MotoCorp caters to its customers through a distribution network of over 200 touch points including five company-owned showrooms, 15 dealerships, 85 retail and 26 spare part outlets and service centers across 14 cities.

Jubilant FoodWorks rose 0.13%. The company said its board will consider a stock split on 2 February 2022. The board of Jubilant Foodworks will also consider Q3 FY22 results on 2 February 2022.

Tata Motors fell 0.5%. The Tata Motors Group global wholesales in Q3 FY22, including Jaguar Land Rover, were 2,85,445 units, higher by 2%, as compared to Q3 FY21. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q3 FY22 were at 1,02,772 units, higher by 14%, over Q3 FY21. Global wholesales of all passenger vehicles in Q3 FY22 were at 1,82,673 units, lower by 3% as compared to Q3 FY21.

Global Markets:

Most shares in Europe and Asia declined on Friday as the recent rally in U.S. stocks broke momentum with the Nasdaq snapping a three-day winning streak.

China released trade data on Friday, which showed that its dollar-denominated exports grew 29.9% compared to the past year, and its imports rose 30.1% in the same period.

Meanwhile, South Korea's central bank raised its benchmark rate by 25 basis points to 1.25%, the highest since March 2020 and back to the rate it was at before the pandemic.

On the macro front, the number of Americans filing new claims for unemployment benefits increased to an eight-week high in the first week of January amid raging COVID-19 infections. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 230,000 for the week ended January 8, the highest reading since mid-November.

In another report on Thursday, the Labor Department said the producer price index for final demand increased 0.2% last month. That was the smallest gain in the PPI since November 2020 and followed a 1% jump in November.