Good morning!
The GIFT Nifty is trading with gains of 0.2% near 26,255 indicating a positive open for the benchmark Nifty 50.
US and European index futures are trading lower during Asian trading hours.
S&P 500 futures trading 0.06% lower.
Euro Stoxx 50 futures trade 0.02% lower.
Market Recap
Indian equity benchmarks ended flat after a volatile session on Tuesday, with weekly F&O expiry adding to intraday swings.
The BSE Sensex slipped 42.64 points, or 0.05%, to close at 85,524.84, while the Nifty 50 edged up 4.75 points to 26,177.15. The midcap index finished flat, whereas the small-cap index posted modest gains of 0.37%.
Sectorally, IT, healthcare, PSU banks and realty stocks declined 0.2–0.8%, while media gained 0.6%. Metals and PSU stocks rose about 0.5% each, and the energy index advanced 0.6%
US Market Wrap
Wall Street stocks hit fresh record highs in a subdued session as traders digested a slew of economic reports amid slowing activity ahead of the Christmas holiday. Short-term treasuries lagged, while the dollar weakened, as per Bloomberg reports.
The S&P 500 notched its fourth consecutive gain in a narrow, tech-driven advance. Trading volumes stayed below the three-month average, reflecting the holiday lull. The index managed to rebound even as data offered little support for near-term Federal Reserve rate-cut expectations.
Asian Market Update
Asian equities opened higher, following a record-setting rally on Wall Street after data revealed the U.S. economy expanded at its fastest rate in two years.
The MSCI Asia-Pacific index climbed for a fourth consecutive session, adding 0.2%, while major benchmarks in Japan and South Korea also posted gains.
Commodity Check
Gold surged to a record high, breaking above $4,500 an ounce for the first time, driven by rising tensions in Venezuela and expectations of further U.S. rate cuts next year. The metal advanced over 0.5%, marking its fourth straight day of gains.
Platinum also hit an unprecedented peak, climbing past $2,300 an ounce amid tight supply conditions and persistently high borrowing costs.
Crude oil extended its five-day winning streak as traders balanced geopolitical risks against growing inventories. West Texas Intermediate hovered above $58 a barrel after nearly a 6% rally over the past week, while Brent closed above $62 on Tuesday.
Key Events To Watch
India’s RBI to inject $32 billion via fresh bond buys, swap.
RBI announces details of Dec. 29 bond purchases via OMO.
Stocks In News
Vikran Engineering: The company received a Rs 2,035 crore order from Onix renewables for EPC works for solar plant development.
GAIL: The company signed an MoU with the Government of Chhattisgarh to develop Gas-based fertilizer project. The company will undertake techno-economic studies for setting up urea manufacturing plant of 12.7 Lk MT.
ITC: An ITC spokesperson told NDTV Profit that the company has not increased cigarette MRPs, and therefore there is no scope for traders to raise prices.
Reliance Communications: Central Bank of India declared loan accounts of arm Reliance Telecom as 'fraud’.
Spandana Sphoorty Financial: The board allotted 41,500 NCDs to raise funds worth Rs 415 crore on a private placement basis.
Thirumalai Chemicals: The board approved the allotment of 18,96,614 shares to raise funds worth Rs 56.1 crore.
Bank of India: The bank issued long-term bonds to raise funds worth Rs 10,000 crore. The issue includes a base of Rs 5,000 crore and green shoe option of Rs 5,000 crore on private placement basis.
Arisinfra Solutions: The company received an asphalt order worth Rs 35 crore from Goswami Infra Projects.
Supreme Petrochem: The company clarifies that the reports of a temporary shutdown of the entire Amdoshi plant are incorrect, as only the newly set-up mABS plant has been temporarily shut due to equipment malfunction, while the rest of the facility remains fully operational.
Laurus Labs: The company made an investment of Rs 49 crore in JV KRKA pharma to acquire 4.9 crore shares.
Ultramarine & Pigments: Thirumalai Chemicals allotted 15.2 lakh shares at Rs 296 per share on preferential basis.
Bliss GVS Pharma: Board appointed SN Kamath as a Managing Director for three years. Alert: SN Kamath is current CEO of the company.
Punjab & Sind Bank: The board will meet shareholders on Dec. 21 for approval of Rs 3,000 crore QIP.
Finolex Cables: Received Tax demand of Rs 22 crore including penalty from Chandigarh tax body.
Coal India: The board gave in principal approval for listing of arm South Eastern Coalfields.
Ajanta Pharma: Signed a licensing agreement with Biocon for the marketing of Semaglutide in 26 countries.
Deepak Fertilisers: Arm Deepak Mining Solutions receives total demand of Rs 104 crore from Bengaluru I-T Dept for AY22-25. The demand order is regarding transfer of Tax and TDS related to demerged business.
JD Cables: Received an EPC infrastructure contract valued at Rs 244 crore.
Ceat: The company approved the proposal for incorporation of a wholly owned arm in the UK.
Surana Telecom: Received a letter of award worth Rs 175 crore for development of 51.3 MW solar power plant.
SJS Enterprises: The company signed technology license cum supply agreement with Hong Kong-based OE Varitronix and also signed a pact for optical bonding and assembly of Automotive display systems in India.
Cupid: Promoter reduced pledged shareholding to 20% from 36.13% on 30th September 2025.
Amic Forging: Board allotted 2.6 lakh shares at Rs 1,536 per share worth Rs 40 crore on preferential basis to non-promoters.
Gujarat Narmada: The company awarded an order worth around Rs 360 crore order to Toyo engineering India to supply ammonium nitrate -II plant.
GPT Infra: The company received a Rs 199 crore order from Northeastern Railway for construction work.
Ola Electric: Arm approved the allotment of 10 crore optionally convertible redeemable preference shares worth Rs 100 crore to arm Ola Cell Technologies.
Sarda Energy: The company said that there was delay in filing intimation regarding accident was on account of delay in receipt of information by Compliance Officer & intervening holiday. The delay in filing was unintentional.
Emcure Pharma: Gujarat Unit received EIR report from US FDA with No Action Indicated Status.
Uno Minda: Restated Joint Venture pact executed between company and Toyoda Gosei Co.
Satin Creditcare: Board approved the additional investment worth Rs 25 crore in arm Satin Technologies.
IIFL Capital Services: The company received certificate of registration from IRDAI to act as a corporate agent.
Zydus Life: The company arm in pact with Bioeq AG for U.S. Commercialisation rights for NUFYMCO an Interchangeable Biosimilar to Lucentis. NUFYMCO BLA has been approved by the USFDA.
Godfrey Phillips: Filed Rs 344.5 crore insurance claim for fire at Andhra Pradesh unit.
Belrise Industries: The company signed an exclusive teaming and strategic agreement with Israel-Based Plasan SASA for technical and business cooperation for 3 years. The company and Plasan SASA to jointly pursue business opportunities in Defence sector. The partnership also aims to establish and strengthen Plasan’s footprint in India.
Fusion Finance: The board to meet on Dec 29 to consider fundraising via NCDs on private placement basis.
Monte Carlo: Received multiple letters of award worth Rs 147 crore for solar PV based power plants.
Adani Ports: The company completed the acquisition of North Queensland export terminal in Australia. With NQXT's acquisition, the company is on track to achieve 1 billion tonne cargo volume by 2030.
Epack Durable: The board approved setting up of another manufacturing facility at Bhiwadi. The new facility in Bhiwadi to handle production of Air Coolers.
Sunteck Realty: The company incorporated wholly owned arm Etashi Real Estates.
Pace Digitek: Incorporated wholly owned arm Lineage Defence and Aerospace.
Syngene International: The company invested Rs 3.5 crore in O2 Renewable Energy V.
HCC: The company approved the allotment of nearly 80 crore shares at Rs 12.5 per share.
NBCC: Saleem Ahmad ceases to be director at the company.
Rail Vikas Nigam: The board appointed Saleem Ahmad as the next Chairman & MD.
Endurance Tech: Cyber Security incident occurred today on company’s IT Infra. The company has taken immediate steps to Isolate affected systems. No material impact on core operations or financial position of the company.
Nibe: Approved Raising Funds Worth Nearly `250 Cr on preferential basis to proposed allottees.
Fortis Health: A civil suit filed by the company against a third party and others was decided in the company’s favour.
NTPC: Board approved the formation of JV company with EDF power solutions India to develop pumped storage plants.
Jai Corp: The ED issued an order against the company under the Prevention of Money Laundering Act and clarified that reports suggesting seizure of the company’s cash and assets are incorrect. The ED froze demat accounts and mutual fund folios worth Rs 99 crore belonging to the company’s arm, Urban Infrastructure, and seized nearly Rs 1.7 crore in cash from the residences of directors Virendra Jain and Gaurav Jain. The company said it is not possible to ascertain the financial impact at this stage due to the ongoing investigation.
Dishman Carbogen: The board will meet on Dec 27 to consider raising funds Via NCDs.
Usha Martin: Step-Down Arm Usha Martin Espana in Spain voluntarily dissolved.
IPO Offering
Gujarat Kidney & Super Speciality: The company specializes in providing multispeciality healthcare services, including secondary and tertiary care, across multiple locations in Gujarat, India. The public issue was subscribed to 2.67 times on day 2. The bids were led by Qualified institutional investors (0.34 times), non-institutional investors (2.95 times), retail investors (10.45 times).
Bulk Deals
Belrise Industries: Blackrock Emerging Markets Fund bought 70.50 lakh shares (0.79%), SBI Mutual Fund bought 5.12 crore shares (5.76%) while Sumedh Tools sold 5.8 crore shares (6.55%) at Rs 153.7 apiece.
Restaurant Brand Asia: Amansa Investments sold 76 lakh shares (1.3%) at Rs 64.29 apiece.
Insider Trades
Ashapura Minechem: Promoter Ashapura Industrial Finance bought 40,000 shares.
Surya Roshni: Promoter Goel Die Cast bought 90,000 shares
Deepak Nitrite: Promoter Bhoruka Supply Chain Solutions bought 6762 shares.
Paramount Communications: Promoter Sanjay Aggarwal bought 28,000 shares.
Trading Tweaks
Price band change from 10% to 5%: Meesho, TCI Finance.
Board Meeting: Gayatri Projects
Ex- Buyback: Nectar Lifesciences
Ex-bonus Issue: GRM Overseas (2:1)
Share to exit anchor Lock-in: Excelsoft Tech (5%), Ganesh Consumer Tech (5%), Dee Developments Engineers (20%), Atlanta Electricals (2%).
List of securities to be excluded from ASM Framework: VLS Finance.
F&O Cues
Nifty December futures up by 0.02% to 26,202 at a premium of 25 points.
Nifty December futures open interest down by 5.7%.
Nifty Options on Dec 23: Maximum Call open interest at 26,200 and Maximum Put open interest at 26,150.
Securities in ban period: Sammaan Capital
Currency/Bond Market
The Indian rupee ended flat at 89.65 to the US dollar for the second straight session on Tuesday, as year-end rebalancing neutralised the losses.
The yield on the benchmark 10-year government bond ended 4 basis points lower at 6.63%.
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