All You Need To Know Going Into Trade On Nov. 30

Asian stocks looked set to round out the month in mixed fashion as investors await a crucial meeting between the U.S. and Chinese presidents with the course of the trade war at stake.

Shares edged higher in Tokyo and Seoul and futures indicated a higher start for shares in Hong Kong and Shanghai, while Australian shares slipped.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, rose 0.1 percent to 10,930 as of 7:18 a.m.

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BQ Live

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

U.S. Market Check

• U.S. stocks fell for the first time in four days as fresh trade anxiety outweighed a dovish shift by the Fed ahead of a highly anticipated sit-down between the U.S. and China.
• The yield on 10-year Treasuries was flat at 3.03 percent.

#BQMarketWrap | U.S. stocks decline as trade angst weighs on sentiment.

Read: https://t.co/By1GTGqomb pic.twitter.com/Tkgdj6KINK

Asian Cues

• Japan's Topix index rose 0.2 percent.
• Australia's S&P/ASX 200 Index fell 0.7 percent.
• FTSE China A50 Index futures added 0.5 percent.
• Futures on Hong Kong's Hang Seng added 0.4 percent.
• Futures on the S&P 500 Index dropped 0.1 percent.

Commodity Cues

• West Texas Intermediate crude slipped 0.2 percent to $51.34 a barrel.
• Brent crude traded 0.28 percent higher at $59.88 per barrel.
• Gold held at $1,224.60 an ounce.
• The Bloomberg Commodity Index climbed 0.2 percent.

London Metal Exchange

• Aluminium ended higher for the second day, up 0.4 percent.
• Copper ended higher for the second day, up 0.2 percent.
• Zinc ended higher for the second day, up 0.7 percent.
• Nickel ended higher for the second day, up 2.4 percent.
• Lead advanced for the second day, up 0.31 percent.
• Tin ended higher for the second day, up 1.56 percent.

Indian ADRs

Stocks To Watch

• Tata Motors-owned Jaguar Land Rover temporarily halted operations at its engine factory for a two-week production freeze in English Midlands. It said that the shutdown concerns EMC's machine and assembly halls. Affected staff will continue to receive full pay during the freeze and maintenance and salaried staff will continue as normal. The company also stated that infrastructure work related to Solihull's production of next generation Range Rover also requires changes to production schedule. (Bloomberg News)
• The Reserve Bank of India said that the minimum holding period requirement for NBFC originating loans, will now be set at six monthly or two quarterly instalments. Earlier, the holding period was 12 months. The revised rules were applicable for loans of original maturity of over five years. This will help housing finance companies, especially those who have longer maturity loans.
• GlaxoSmithKline PLC confirmed that consideration was being given to a potential transaction that included a merger of its Indian consumer health care unit. But the company stated that there was no assurance that a transaction will result from review process nor any decision on the matter had been made by the company.
• Sun Pharmaceutical Industries clarified that there was no material impact of news on governance issues.
• Hindustan Unilever clarified that it was bound by confidentiality obligations and was evaluating merger and acquisition proposals from time to time.
• Asian Oilfield Services received a contract worth Rs 27.65 crore from ONGC to provide seismic data acquisition services in northern India.
• CCEA approved procurement quota to ITI by reserving 30 percent of procurement orders placed by BSNL, MTNL and BBNL for the company's manufactured products and outsourced items. The policy measures shall remain in force till November 2021 and will be reviewed again, considering the financial health of the company after the expiry of the period.
• Inox Leisure board approved issuance of 64 lakh equity shares at Rs 250 each aggregating to Rs 160 crores to its promoter, Gujarat Fluorochemicals.
• Vodafone Idea: CRISIL downgraded NCDs worth Rs 6,000 crore to CRISIL A+ from CRISIL AA-. Ratings for commercial papers reaffirmed at CRISIL A1+. The downgrade reflects continued pricing pressure in the mobile telephone industry, leading to weak operating performance. CRISIL expects the net debt to remain over Rs 85,000 crore by the end of March. The rating agency believed that the credit risk profile of the combined entity will continue to be affected by competition, while the quantum and timeliness of synergy benefits will be key rating sensitivity factors.

Data To Watch

• 4:30 p.m.: India Fiscal Deficit for April-Oct. period
• 5 p.m.: India Eight Infrastructure Industries Index for October (Prior +4.3 percent)
• 5:30 p.m.: India GDP for September quarter. (YoY); Bloomberg estimates at 7.5 percent.
• 5:30 p.m.: India GVA for September quarter.; Bloomberg estimates at 7.3 percent.

Offerings

• Reliance MF-managed CPSE ETF 3rd FFO to close Nov. 30.
• Indian Food Logistics Chain ColdEX files for initial public offering.

Media Reports

• JSW sole bidder for Monnet Power as Adani backs out (Business Standard)

Bulk Deals

• Multi Commodity Exchange: East Bridge Capital Master Fund acquired 3.99 lakh shares or 0.78 percent equity at Rs 706.41 each.
• Equitas Holdings: Kotak Mahindra MF sold 25.82 lakh shares or 0.76 percent equity at Rs 106.2 each.
• Repco Home Finance: Pabrai Investment Fund sold 9.48 lakh shares or 1.52 percent equity at Rs 336.15 each.
• Alkem Laboratories: Promoter Prasid Uno Family Trust sold 12.9 lakh shares or 1.08 percent equity at Rs 1,828.32 each.

Mahindra Logistics:

• Promoter Partners Enterprise sold 16.22 lakh shares or 2.28 percent equity at Rs 525 each.
• Reliance MF acquired 10.15 lakh shares or 1.42 percent equity at Rs 525 each.

Future Retail

• Bharti Enterprises (Holding) sold 56.93 lakh shares or 1.13 percent equity at Rs 525.9 each.
• Edelweiss Special Opportunities Fund acquired 40.43 lakh shares or 0.80 percent equity at Rs 525.9 each.

Trading Tweaks

• NHPC record date for share buyback.
• Dalmia Bharat record date for amalgamation of two entities with self.
• Oil India ex-date for share buyback.
• Hindustan Construction Company, Granules India price band revised to 20 percent.
• Hotel Leela Venture price band revised to 10 percent.

Who's Meeting Whom

• Eicher Motors to meet Burgundy AMC and SBI MF on Nov. 30.

Insider Trading

• Bodal Chemicals promoter group Ramesh Desai acquired 43,000 shares on Nov. 28.
• Meghmani Organics promoter and director Meghjibhai Patel acquired 1 lakh shares on Nov. 28.

(As reported on Nov. 29)

Money Market Update

• Rupee ended at 69.84/$ on Thursday versus 70.61/$ on Wednesday.

F&O Cues

• Nifty December futures closed trading at 10890, premium of 31 points.
• Max open interest for December series at 11,000 Call (open interest at 23.7 lakh shares).
• Max open interest for December series at 10,500 Put (open interest at 36.2 lakh shares).

Put-Call Ratio

• Nifty PCR at 1.75 from 1.81.
• Nifty Bank PCR at 1.33 from 1.26.

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

Brokerage Radar

HSBC on Sun TV

• Maintained ‘Hold'; cut price target to Rs 703 from Rs 855.
• Biggest worry is constant declining viewership share.
• Higher investment required to enter new markets.
• Upcoming national elections likely to create uncertainty over advertising.

JPMorgan on SBI

• Maintained ‘Buy'; raised price target to Rs 400 from Rs 360.
• Sweetly positioned for resolution and rate cycle.
• Margins for SBI have multiple levers for an upmove.
• Value unlocking to drive a fairly big re-rating over two-to-three years.

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