Stocks in Asia declined after a selloff in U.S. technology shares and Treasuries intensified after Federal Reserve minutes signaled interest-rate hikes may be more aggressive than expected.
Equities retreated in Japan, Australia and South Korea. U.S. contracts fluctuated after the Nasdaq 100 tumbled the most since March.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index's performance, fell 0.73% to 17,842.50, as of 7:00 a.m
Elsewhere, Oil fell for the first time in four days and Bitcoin tumbled to below $44,000, the lowest since its early-December weekend flash crash.
Stocks To Watch
Future Group: The division bench of the Delhi High Court ordered stay on arbitration proceedings between Amazon and Future Group entities FCPL and FRL.
Jet Airways: The company has given a clarification on new reports stating Captain Sudhir Gaur has resigned as the Interim CEO of Jet Airways. Capt. Gaur was employed in July 2021 as VP - Operations and designated as the Accountable Manager, the company said. Jet Airways is yet to appoint a CEO. On account of Capt Gaur's resignation, the company has appointed Captain Priyapal Singh as the new Accountable Manager.
NHPC: Promoters agreement signed between NHPC and Green Energy Development Corporation of Odisha Limited on Jan. 4 for formation of joint venture company for development of 500 MW floating solar power projects in various water reservoirs in Odisha. NHPC will hold 74% stake in JV and the rest will be held by GEDCO.
RBL Bank: Gross advances rose 3.5% in Q3 to Rs 59,941 crore over the preceding quarter. Retail advances were flat while wholesale advances grew 8% sequentially. These are provisional numbers.
Rohit Ferro-Tech: The company has defaulted on loans of Rs 2,638.28 crore till Dec. 31.
Rupa and Company: NCLT Mumbai has sanctioned the scheme of arrangement between Oban Fashions and Rupa & Company and their respective shareholders and creditors, with effect from April 1, 2021.
Coal India: India coal production at 74.78 million tonnes in December.
Fortis Healthcare: Emqore seeking more than $6.5 billion in damages from defendants; IHH says Emqore claim linked to Indian unit Fortis.
Union Bank of India: Starts lending in alternate reference rate.
Upcoming Results
Tata Elxsi: To announce Q3 results on Jan. 18.
Persistent Systems: To announce Q3 results on Jan. 20.
Route Mobile: To announce Q3 results on Jan. 27.
Pledged Shares Details
Jindal Steel & Power: Promoter group Jargo Investments created a pledge of 74.30 lakh shares on Dec. 17.
MEP Infrastructure Developers: Promoter group AJ Tolls invoked a pledge of 37 lakh shares between Dec. 30 and Dec. 31.
Insider Trades
JK Cement: Promoter Group Kalpana Singhania sold 2,401 shares between Dec. 23 and Dec. 24.
Star Cement: Promoter Group Snigdha Chamaria bought 31,000 shares on Dec. 31.
Bulk Deals
Orient Green Power Company: Axis Bank sold 45 lakh (0.60%) shares at Rs 22.80 per share and sold another 38 lakh (0.51%) shares at Rs 22.4 apiece.
GTL Infrastructure: IDBI Trusteeship Services sold 21.24 crore (1.68%) shares between Rs 2.37-2.38 per share.
Who's Meeting Whom
Shree Renuka Sugars: To meet investors on Jan. 6.
Sansera Engineering: To meet investors and analysts on Jan. 7.
Sanghi Industries: To meet ICICI Prudential MF and Nippon Mutual Fund on Jan. 6. The company will meet SBI MF and SBI Life Insurance Company on Jan 7.
Persistent Systems: To hold investor/ analyst call on Jan. 21.
Trading Tweaks
Ex-Date Interim Dividend: Mazagon Dock Shipbuilders
Record Date Amalgamation: Gateway Distriparks
Move Out Of Short-Term ASM Framework: RattanIndia Power, Kingfa Science & Technology (India), Trigyn Technologies, Gravita India
Move Into ASM Framework: HPL Electric & Power
Money Market Update
The rupee ended at 74.36 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.55.
F&O Cues
Nifty January futures ended at 17,946.20; a premium of 20.95 points.
Nifty January futures added 5.77% and 11,847 shares in Open Interest.
Nifty Bank January futures ended at 37,777; a premium of 81.10 points.
Nifty Bank January futures shed 3.22% and 3,023 shares in Open Interest.
Top Research Reports
India Valuation Handbook; Top Picks For Large And Mid-Cap Stocks: Motilal Oswal
Coal India - All-Time High Offtake Indicates A Record FY22: ICICI Securities
NBFCs Q3 Earnings Preview - Business Growth Gaining Traction; Provisioning To Stay Elevated: Motilal Oswal
Top Five Picks For 2022: Yes Securities
Vijaya Diagnostic Centre - B2C-Focused Dominant Southern Player: ICICI Securities Initiates Coverage
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