Stock Market Today: All You Need To Know Going Into Trade On Dec. 9
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Most markets in Asia–Pacific were trading lower on Monday as risk sentiment remained dampened due to tension in South Korea. Lawmakers in South Korea has filed a motion to impeach President Yoon Suk Yeol, which was scrapped due to lack of required votes. Another impeachment motion can now be called after Dec. 11.
The Kospi and S&P ASX 200 were trading 1.37% and 0.27% down, respectively.
On Friday, the Dow Jones Industrial Average ended 0.28% down and S&P 500 finished 0.25% higher. The Nasdaq Composite ended 0.81% higher.
The Brent crude was trading 0.07% higher at $71.70 a barrel as of 6:39 a.m.
The GIFT Nifty was trading flat at 24,725.00 as of 06:49 a.m.
The NSE Nifty 50 and BSE Sensex ended Friday's session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices dragged.
The Nifty ended 30.62 points or 0.12% down at 24,677.80, and the Sensex ended 56.74 points or 0.07% down at 81,709.12.
The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and maintained a neutral stance. The central bank reduced the gross-domestic-product forecast for the current financial year, while it increased the projection for inflation.
The Nifty posted the best gains on a weekly basis since June 7. It has risen 2.27% in the week ended on Dec. 6. The Sensex gained 2.39% in the week ended on Dec. 6.
Overseas investors turned net sellers of Indian equities on Friday after three straight days of buying, while domestic institutional investors turned net buyers after three consecutive days of selling.
Foreign portfolio investors sold stocks worth Rs 1,830.3 crore, the highest amount sold by the FPIs so far this month. The DIIs bought stocks worth Rs 1,659.1 crore, according to provisional NSE data.
Stocks To Watch
One 97 Communications: Paytm is poised to sell its 5.4% stake in Japan's digital payments firm PayPay Corp. to investor SoftBank for $250 million or around Rs 2,000 crore.
Ceat: The company has entered into an agreement with the Michelin Group for Camso's off-highway construction equipment tyre and track business. It acquired Camso's business assets from Michelin for $225 million.
Godrej Consumer Products: The company expects modest mid-single-digit growth in organic sales for the October-December period due to weak demand in India over the past few months. Standalone business sales are anticipated to show flat UVG and mid-single-digit growth.
JSW Energy: The company's subsidiary has received a letter of award from NTPC for a 400 MW ISTS-connected solar power project through a tariff-based competitive bid. This adds to the company's total generation capacity, which now stands at 19.6 GW, including 4.4 GW from solar projects.
Bansal Wire Industries: The company has started production of specialty wires, including bead wire, hose wire and steel tyre cord at its Dadri plant. The official product launch date will be announced soon.
Inox Green Energy Services: The company has signed a share purchase agreement to sell its entire stake in subsidiaries, including Flurry Wind Energy and Flutter Wind Energy.
Laurus Labs: The subsidiary has signed a definitive agreement for an equity investment of Rs 120 crore from Eight Roads Ventures and F-Prime Capital. Additionally, the company has agreed to co-invest Rs 40 crore at the same valuation.
Bajaj Healthcare: The company’s API manufacturing site in Gujarat has received approval from the Therapeutic Goods Administration of Australia. The site is already approved by the USFDA and EU.
NLC India: The company has emerged as a successful bidder for the new Patrapara South Coal Mine in Odisha.
Star Health and Allied Insurance: The company has received a show-cause notice from the Insurance Regulatory and Development Authority of India based on an inspection conducted in 2022.
Delta Corp: The board decided to optimide the Dhargal Project by transferring its arm Deltin Hotel and Resorts. The remaining hospitality and real-estate business will be demerged into Delta Penland. Additionally, Deltin Cruises and Entertainment will be amalgamated with the company.
Wipro: The company signed an agreement with SIAM.AI for an AI-powered digital assistant for the Tourism Authority of Thailand.
Allcargo Terminals: The company has executed a lease agreement for land parcels measuring approximately 22 acres at Maharashtra, for capacity expansion.
Alembic Pharmaceuticals: The company dissolved six step-down subsidiaries.
Intellect Design Arena: The board approved winding up AIFs Category II to repurpose investment initiatives.
Shree Renuka Sugars: The NCLT approved the scheme of merger of three units with the company.
Trading Tweaks
Price Band revised 5% to 20%: Aditya Birla Money.
Moved into short term ASM: Lincoln Pharmaceuticals.
Who's Meeting Whom?
Aegis Logistics: To meet investors and analysts on Dec. 13.
Karur Vysya Bank: To meet investors and analysts on Dec. 11.
Stove Kraft: To meet investors and analysts on Dec. 13.
Balkrishna Industries: To meet investors and analysts on Dec. 12.
AGI Greenpac: To meet investors and analysts on Dec. 11.
Firstsource Solutions: To meet investors and analysts on Dec. 13.
F&O Cues
Nifty November futures up by 0.04% to 24,775 at a premium of 98 points.
Nifty November futures open interest up by 1.64%.
Nifty Options December 12 Expiry: Maximum call open interest at 26,200 and maximum put open interest at 21,600.
Securities in ban period: Granules India, Manappuram Finance, PVR Inox, RBL Bank.
Money Market Update
The Indian rupee closed stronger after the Reserve Bank of India's monetary policy committee kept the benchmark rates unchanged while unleashing measures to boost liquidity.
The domestic currency strengthened 3 paise to close at 84.70 against the dollar, according to Bloomberg data. The rupee closed at 84.73 against the greenback on Thursday.
