Indices in the Asia-Pacific region were mixed Friday. At 7:19 a.m., Australia's ASX 200 was down by 0.6% and Japan's Nikkei fell 0.7%. While Hong Kong's Hang Seng rose 0.7% and CSI 300 by 0.07%.
US markets gave up gains in Thursday's session. The Dow Jones Industrial Average and S&P 500 ended 0.55% and 0.19% down, respectively. The Nasdaq Composite index ended 0.17% down.
At 7:21 a.m. GIFT Nifty was at 24,798.00, down by 27.5 points or 0.1%.
Benchmark equity indices turned volatile in the last hour of trade on Thursday but still managed to close at their highest levels in more than a month, tracking records made by their US peers.
The Nifty 50 ended 240.95 points, or 0.98%, higher at 24,708.40, and the BSE Sensex closed 809.53 points, or 1%, up at 81,765.86.
During the day, the Nifty rose as much as 1.6% to 24,857.75, its highest level since Oct. 22, and the Sensex added as much as 1.68% to 82,317.74, its highest level since Oct. 9.
Overseas investors stayed net buyers of Indian equities for the third consecutive session on Thursday, while the domestic institutional investors stayed net sellers for a third day.
Foreign portfolio investors mopped up stocks worth Rs 8,539.91 crore, the highest amount bought by FPIs so far this month, and domestic institutional investors sold shares worth Rs 2,303.64 crore, according to provisional data shared by the National Stock Exchange.
Stocks To Watch
Canara Bank: The RBI has approved the bank's plan to divest 13% of its shareholding in Canara Robeco AMC and 14.5% in Canara HSBC Life Insurance through an IPO. The bank has been instructed to adhere to the deadline of Oct. 31, 2029, for increasing its stake in these entities to 30%.
FSN E-Commerce Ventures: Nihir Parikh has resigned from his position as CEO of Nykaa Fashion.com.
Borosil Renewables: The Ministry of Finance has imposed a provisional anti-dumping duty on imports of textured tempered coated and uncoated glass from China and Vietnam. This duty will be effective for six months, starting from Dec. 4.
Ramco Systems: The company announced that it has entered a partnership with Hanjin Information Systems and Telecommunication, a subsidiary of the Hanjin Group. Together, both the parties will enable the aviation organizations headquartered in South Korea to digitally transform their M&E and MRO operations.
Vibhor Steel Tubes: The company's Sundargarh Unit III plant in Odisha is fully ready for operations. The company anticipates the operational commencement of the unit by the end of January 2025.
Ola Electric Mobility: The Central Consumer Protection Authority has sought more information from Ola Electric Mobility Ltd. amid alleged whitewashing of over 10,000 service-related complaints.
Electronics Mart India: The company commenced the commercial operations of a new Multi Brand Store under the brand name Bajaj Electronics.
Harsha Engineers International: The company has signed a long-term agreement with a leading multinational bearing company to supply bearing cages. The estimated value of the contract ranges from €6 million to €10 million per year.
GPT Healthcare: The company entered MoU with Naveen Singh and Others for construction of Hospital Building at Jamshedpur.
Garden Reach Shipbuilders & Engineers: The company has signed a contract for the construction and delivery of seven 7,500 DWT multi-purpose vessels.
Welspun Living: The board approved the scheme of amalgamation between Welspun Home Solutions and Welspun Advanced Materials. Welspun Home Solutions is a subsidiary of Welspun Advanced Materials.
Waaree Energies: The company received the National Accreditation Board for Testing and Calibration Laboratories Accreditation for Advanced Testing Lab in Gujarat.
Cummins India: Ajay Shriram Patil resigned as the CFO effective Jan. 9.
Shriram Piston: The company renewed tech partnership with Fuji Oozx for five years.
Globus Spirits: The company announced the launch of TERAI India Craft Gin – Litchi and Mulberries.
CG Power and Industrial Solutions: The Income Tax Commissioner has instructed the company to deposit Rs 4 crore and has stayed the remaining demand until the appeal is resolved. The company had filed an appeal against an income tax demand of Rs 189 crore, received on Feb. 27.
Rites: The company has received a contract worth Rs 148 crore from IIM Raipur Development of Phase II Campus.
Lemon Tree Hotels: The company signed a licence agreement for a 44-room hotel in Gujarat.
Advait Infratech: The company has received an order for the supply and installation of 24 F OPGW on a turnkey basis for 400 KV Line.
PDS: The company informed us that as part of our ongoing efforts to streamline the corporate structure within the Group, and with the objective of reducing approximately 17 entities, the company has successfully closed, merged, or disposed of four entities to date which have been redundant and had no business activities.
Krishna Institute of Medical Sciences: The company has increased its investment by acquiring an additional 3% stake in Arunodaya Hospitals, a subsidiary. As a result, the company now holds a 70.66% stake in Arunodaya Hospitals.
New Listing
Suraksha Diagnostic: The company's shares will debut on the stock exchange on Friday at issue price of Rs 441. The Rs 846.25-crore IPO has been subscribed times on 1.27 times on final day. The bids were led by qualified institutional investors (1.74 times), non-institutional investors (1.41 times) and retail investors (0.95 times).
Insider Trades
Snowman Logistics: Promoter Gateway Distriparks bought 6.49 lakh shares on Dec. 4.
Sterling Tools: Promoter Atul Aggarwal sold 58,440 shares on Dec. 3 and 4.
Who's Meeting Whom?
Escorts Kubota: To meet investors and analysts on Dec. 12.
Mahindra and Mahindra Financial Services: To meet investors and analysts on Dec. 13 and 16.
Adani Enterprises: To meet investors and analysts on Dec. 10.
Jana Small Finance Bank: To meet investors and analysts on Dec. 11.
Vishnu Chemicals: To meet investors and analysts on Dec. 10.
3M India: To meet investors and analysts on Dec. 11.
Trading Tweaks
Price Band revised 10% to 20%: Bikaji Foods International, Dhani Services, Dynamic Cables, Glenmark Life Sciences, Goldiam International, Hindustan Zinc, Honasa Consumer, HPL Electric and Power, Huhtamaki India, IFB Industries, ITI, Jyoti CNC Automation, Neogen Chemicals, Netweb Technologies India, Om Infra, PNC Infratech, Route Mobile, Sharda Motor Industries, Techno Electric and Engineering Company, Thomas Cook, Waaree Energies, Zen Technologies.
Price Band revised 5% to 20%: Antony Waste Handling Cell, Heritage Foods, Rattanindia Power.
Price Band revised 5% to 10%: DCX Systems, Dredging Corp., Fusion Finance, Genus Power Infrastructures, GE Power India, GTL Infrastructure, Puravankara, Jyoti Structures, Liberty Shoes, Lloyds Enterprises, Marine Electricals (India), Paras Defence and Space Technologies, Premier Explosives, PTC Industries, Sterling and Wilson Renewable Energy, TARC, Vakrangee, Veranda Learning Solutions, Wockhardt..
Ex/record demerger: Strides Pharma.
Moved into short term ASM: HEG, Niva Bupa Health Insurance.
Moved out short term ASM: Triveni Turbine.
F&O Cues
Nifty November futures up by 0.87% to 24,775 at a premium of 67 points.
Nifty November futures open interest down by 3.2%.
Nifty Options December 12 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 21,600.
Securities in ban period: Granules, Manappuram.
Also Read: Your Guide To FII Positions For Dec. 6 Trade
Money Market
The Indian rupee closed flat at 84.73 against the US dollar on Thursday after opening flat in the morning at 84.74. The domestic currency closed at 84.73 on the previous day.
The rupee had reached its lowest point in recent trading when it fell to 84.74 on Wednesday, marking a continued weakening trend.
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