Stock Market Today: All You Need To Know Going Into Trade On Dec. 02

Stocks edged lower in Asia after US equities struggled for direction, with traders awaiting a jobs report later Friday for clues on the Federal Reserve's next policy steps. 

The Bloomberg Dollar Spot Index steadied after sinking to its lowest since June.

Elsewhere, oil fluctuated after four days of gains with China further easing Covid restrictions and the US considering a pause in sales from its strategic reserves. Gold steadied.

The Indian benchmark indices continued their record-breaking rally for the eighth day to close at new record highs. The broader market indices outperformed their larger peers, as the market breadth favoured bulls.

Rupee continued to rise against the U.S. dollar for the second day closing higher against the greenback despite paring early gains.

At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.3% to 18,964.

Stocks To Watch

• Yes Bank: The Reserve Bank of India allowed Advent and Carlyle to pick up 9.99% stake each in Yes Bank on a conditional basis.

• NMDC: The government has invited expressions of interest to divest its 50.79% stake in the company. The company also reported a rise in production and sale of iron ore during November.

• ONGC/Reliance Industries/GAIL: The government halved windfall tax on domestic crude to Rs 4,900 per tonne and reduced levy on diesel exports to Rs 6.5 per litre.

• Hero MotoCorp/Maruti Suzuki/Tata Motors/Mahindra & Mahindra/Bajaj Auto/ Eicher Motors: Auto companies reported their monthly sales data for November.

• PB Fintech: SoftBank's SVF India Holdings is offering 22.8 million shares of the company at a floor price of Rs 440.2 each in a block trade, Bloomberg News reported citing terms of the deal.

• Hindustan Unilever: The company has formed an ESG committee to assist the board in overseeing the company's strategy relating to ESG and sustainability matters.

• Man Infraconstruction: Suketu R Shah resigned from the position of Joint Managing Director of the company, with effect from Dec. 1.

• Oberoi Realty: Shareholders of the company approved the purchase of premises from Oasis Realty, a joint venture entity.

• MOIL: The company's production increased 60% sequentially and sales grew 82% on-month during November.

• NLC India: The company signed an MoU with Odisha government for setting up ground mounted/ floating solar power projects, pumped hydro storage projects, green hydrogen projects and any other renewable projects in the state.

• SJVN: The company' subsidiary SJVN Green Energy has signed an MoU with Grid Corporation of Odisha for developing 1000 MW Hydro Electric Projects and 2000 MW Solar Power Projects in Odisha by incorporating a joint venture company.

Offerings

• Uniparts India: The issue was subscribed 2.02 times on the second day. The QIB portion was subscribed 97%, while HNIs placed bids for 3.41 times the portion reserved for them. The retail basket was subscribed 2.01 times.

Bulk Deals

• Bandhan Bank: Plutus Wealth Management bought 90 lakh shares (0.56%) at Rs 235.65 apiece.

• Venus Pipes & Tubes: Himalaya Finance & Investment Company bought 5 lakh shares (2.46%) at Rs 650.42 apiece, Manojsingh Jadoun sold 6.64 lakh shares (3.27%) at Rs 651.76 apiece.

Who's Meeting Whom

• R Systems International: To meet investors and analysts on Dec. 5.

• Punjab National Bank: To meet investors and analysts on Dec. 2.

• GHCL: To meet investors and analysts on Dec. 2.

• Fineotex Chemical: To meet investors and analysts on Dec. 2.

• Sterling and Wilson Renewable Energy: To meet investors and analysts on Dec. 2.

• Arvind: To meet investors and analysts on Dec. 2.

• BEML: To meet investors and analysts on Dec. 5.

Trading Tweaks

• Ex-Date Interim Dividend: Som Distilleries & Breweries, Gujarat Themis Biosyn

• Ex-Date Face Value Split: Likhitha Infrastructure, Mefcom Capital Markets 

• Record-Date Interim Dividend: Som Distilleries & Breweries

• Record-Date Face Value Split: Likhitha Infrastructure

• Move Out Of Short-Term ASM Framework: Easy Trip Planners

Insider Trades

• Ultramarine & Pigments: Promoter Deepa Ajay sold 2,398 shares and Promoter Daya Sridhar sold 2,391 shares between Nov. 29 and Nov. 30.

• Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Nov. 30.

Money Market Update

• Rupee closed higher against the U.S. dollar at Rs 81.22 on Wednesday, compared to Tuesday's close of 81.42.

F&O Cues

• Nifty December futures ended at 18,945, a premium of 70.50 points.

• Nifty December futures fell 0.28% and 705 shares in Open Interest.

• Nifty Bank December futures ended at 43,460, a premium of 7.90 points.

• Nifty Bank December futures fell 0.47% and 532 shares in Open Interest.

• Securities added to the ban period: Bharat Heavy Electricals, Delta Corp., IndiaBulls Housing Finance, Punjab National Bank.

• Securities removed from the ban period: Nil

Research Reports

• Bandhan Bank - Darkest Before Dawn: Motilal Oswal

• Air India Becoming Larger Post-Merger With Vistara Is On Expected Lines; Positive For Sector: ICICI Securities

• Banking Credit Growth At Historical Highs: IDBI Capital

• Aditya Birla Fashion - Fortifying D2C Presence With Its First Investments: ICICI Direct

• BFSI Sector Annual Investors Meet Takeaways - Demand Continues To Remain Strong Across Segments: Nirmal Bang