All You Need To Know Going Into Trade On Dec. 21

Asian stock markets were mostly lower Friday morning and Japanese equities fell deeper into a bear market, with regional shares on course to round out the worst week since October. U.S. futures slipped after shares fell overnight.

Equities fell in Japan and South Korea and Australian shares reversed earlier gains. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.1 percent to 10,984 as of 7:20 a.m.

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Here's a quick look at all that could influence equities today.

U.S. Market Check

• The Nasdaq Composite on Thursday extended its loss from a recent peak to almost 20 percent as the rising threat of a government shutdown in the U.S. added to a litany of concerns weighing on equities.
• Shares turned sharply lower after President Donald Trump hardened his demands in the showdown with Congress over funding the government.

#BQMarketWrap | U.S. stocks fall as shutdown woes add to Fed angst.

Read: https://t.co/bIesrf3Diz pic.twitter.com/6KPxQRwoG2

Asian Cues

• Japan's Topix index fell 0.9 percent at the open in Tokyo.
• Futures on Hong Kong's Hang Seng were little changed overnight.
• Australia's S&P/ASX 200 Index were flat.
• Futures on the S&P 500 fell 0.3 percent.
• The S&P 500 Index fell 1.6 percent on Thursday. The Nasdaq Composite lost 1.6 percent, taking its slide from the August record high to 19.5 percent.
• The Stoxx Europe 600 Index declined 1.5 percent to the lowest in more than two years.

Commodity Cues

• West Texas Intermediate crude added 1.5 percent Friday to $46.56 a barrel.
• Gold rose 0.2 percent to $1,262.05 an ounce.

Indian ADRs

Stocks To Watch

• Dr Reddy's Laboratories: Aquestive and Indivior said they would file a petition with the U.S. Court of Appeals for the Federal Circuit for hearing on the ruling to vacate the preliminary injunction that enjoined Dr. Reddy's from launching its generic buprenorphine/naloxone sublingual film.
• Punjab National Bank: CRISIL downgraded the ratings on various bonds of PNB to CRISIL AA+/CRISIL AA- from CRISIL AAA/CRISIL AA. Separately it has changed the outlook to ‘Stable' from 'Rating Watch with Negative Implications'.
• Bharti Airtel's board approved sale of up to 59.12 crore equity shares, representing 32 percent stake of Bharti Infratel owned by the company to its arm Nettle Infrastructure Investments. After the deal, Bharti Airtel will own 18.33 percent stake in its Infratel arm and Nettle Infrastructure Investments and the public will hold 35.18 percent and 46.49 percent, respectively.
• Infosys appointed Nilanjan Roy as company Chief Financial Officer with effect from March 1 2019, while Jayesh Sanghrajka will be the deputy CFO, from the same date. The tech company's arm and Qatar National Bank also announced implementation of digital banking solutions for the bank.
• NHPC said 520 MW power station in Himachal Pradesh would be under complete shutdown from three months with effect from Dec. 20 for repair and maintenance work.
• Bosch said it will would close Karnataka's Bidadi Plant from Dec. 28-29 due to reduction in volumes seen, as a result of decline in the customer's requirement. The company said that there will be no financial impact on account of proposed suspension of operations.
• Power Finance Corporation's board approved proposal to buy Government of India's entire shareholding in REC.
• Entertainment Network (India) said due to a fire breakout at Common Transmission Infrastructure at Mumbai, terrestrial broadcasting has been disrupted at the company's Mumbai radio station and other private broadcasters in Mumbai.
• Coal India said it would pay interim dividend of Rs 7.25 per share aggregating to Rs 4,500 crore to its shareholders with an implied dividend yield of 3 percent. The company has fixed Dec. 31 as the record date.
• Indian Hume Pipe received letter of acceptance for constructions of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh for the state's water supply corporation. The project will be completed within 24 months.
• Indiabulls Real Estate entered into an agreement with Blackstone to divest up to 50 percent stake in two office assets in Gurugram at aggregate value of Rs 464 crore.
• HT Media's board approved to acquire 25 percent stake in Next Mediaworks' promoters for Rs 45.15 crore and to additionally acquire 26 percent stake, by triggering an open offer to the public shareholders. The board also gave nod to acquire 48.6 percent stake in Next Radio.
• JSW Steel said it would infuse Rs 63.5 crore in Vardhaman Industries to pay the creditors as per the Resolution Plan by NCLT. The entire shareholding of Vardhaman Industries will be reduced by way of capital reduction and it will be delisted.
• Artemis Global Lifesciences received NCLT direction to conduct meetings with shareholder and creditors on Jan. 27 for amalgamation of the company and its three arms.
• CARE Ratings received the SEBI notice for conduct of adjudication proceedings in relation to credit ratings assigned to Infrastructure Leasing & Financial Services Ltd. and one of its subsidiaries.
• Infrastructure Leasing & Financial Services sought expression of interests for monetization of education business and Alternative Investment Fund management business. AIF business manages assets worth Rs 13,340 crore.
• Escorts Group increased its stake in Optunia Power Infrastructure from 49 percent to 99 percent, by acquiring 2.94 crore shares at face value of Rs 10 per share.
• Mercator sold vessel for $7.6 million and said that proceeds of this sale would be used to reduce debt and liabilities.
• Time Technoplast received power cable-ducts orders worth Rs 150 crore from various EPC Contractors.
• Mayur Uniquoters' CFO Manish Kumar Dwivedi resigned from his post with effect from Dec. 19.
• Tata Consultancy Services implemented payments operations solutions for Japan based-MUFG Bank.
• HCL Technologies partnered with Israel based Cloudify to bring 5G network solutions to telecom providers.
• Infibeam Avenues and IBM India executed agreement to develop, implement and promote blockchain applications to Indian clients on Linux platform.
• Dhanuka Agritech's board determined buy-back of 13.12 percent of equity share capital at a price of Rs 550 per share aggregating to Rs 82.5 crore.
• Borosil Glass Works' board approved winding up of Dubai arm ‘Borosil Afrasia FZE'.

Bulk Deals

CARE Ratings

• Pabrai Investment Fund sold 8.36 lakh shares (2.84 percent) at Rs 985.75 each.

Satin Creditcare Network

• Massachusetts Institute of Technology acquired 8.47 lakh shares (1.73 percent) at Rs 228.25 each
• MV Mauritius sold 8.50 lakh (1.74 percent) at Rs 228.25 each

Who's Meeting Whom

• Eicher Motors to meet Streinberg Asset Management on Dec. 21.
• ACC to meet MOSAIC on Dec. 21.

Insider Trading

• Cox & Kings promoter Liz Traders and Agents acquired 40,000 shares on Dec.18.
• Elpro International promoter IGE (India) Pvt acquired 6 lakh shares on Dec.19.

Trading Tweaks

• Bosch, SKF India Record Date for share buyback
• IOC Ex-Date: for payment of interim dividend at Rs 6.75 per share and share buyback
• IL&FS Investment Managers price band revised to 5 percent.

Money Market Update

• Rupee rose for fourth straight session on Thursday to end at 69.70/$, its highest level since Nov. 30, against yesterday's close of 70.40.

F&O Cues

• Nifty December futures closed trading at 10,978, premium of 19 points.
• Maximum open interest for December series call at 11,000 strike value call option contract (open interest at 41 lakh shares).
• Maximum open interest for December series put at 10,000 strike value put option contract (open interest at 47 lakh shares).

Stocks In F&O Ban

• Adani Enterprises Ltd
• Adani Power
• Jet Airways
• Reliance Capital Ltd

Put-Call Ratio

• Nifty PCR unchanged at 1.66.
• Nifty Bank PCR at 1.24 from 1.36.

Get a detailed drawdown of derivatives on BloombergQuint's F&O page.

Brokerage Radar

Kotak Securities on JK Paper

• Initiated 'Buy' with target price of Rs 200.
• Strong market position with presence in high quality brands.
• Backward integration and focus on farm forestry to support margins.
• Imposition of anti-dumping duty to boost profitability.

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