Stock Market Today: All You Need To Know Going Into Trade On Jan. 4
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Shares in Asia faced a muted opening Wednesday after a decline in US stocks and the price of oil signaled unease about the dimming outlook for the global economy. Treasuries and the dollar rallied and the yen stabilized after a Tuesday jump
U.S. stocks declined in the first trading session of the year as rout in major stocks dragged indices. The S&P 500 was trading 1% lower, while the tech Nasdaq 100 was down 1.4%.
At 6:10 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, fell 0.34% to 18,243.
Crude prices fell 3.1%, while gold was up 1%. Bitcoin broke 0.7% to trade around $16,600-level.
Domestic indices recorded gains for the second day in a row, with the market breadth skewed in favour of the bulls.
Rupee erased early gains of as much as 8 paise against the U.S. dollar to close lower against the strengthening greenback.
Overseas investors were net sellers of Indian equities for the eighth day in a row on Tuesday. Foreign portfolio investors net sold Indian equities worth Rs 628.1 crore, while, the domestic institutional investors bought Rs 350.6 crore worth of Indian stocks.
Stocks To Watch
Reliance Industries: Reliance Consumer Products, the FMCG arm of Reliance Retail Ventures will acquire 50% in stake in Gujarat-based Sosyo Hajoori Beverages.
Advanced Enzyme Technologies: The company acquired 50% stake in Saiganesh Enzytech Solutions, and additional 4.83% stake in subsidiary JC Biotech.
Satin Creditcare Network: The board will meet on Jan. 6 to consider raising funds through private placement of non-convertible debentures.
RailTel Corporation of India: The company received a work order worth Rs 186.19 crore from South Eastern Coalfields for providing MPLS VPN services at 529 Locations under SECL Command Area for the period of five years.
NTPC: The company commissioned India's first green hydrogen blending project in the piped natural gas network of NTPC Kawas township, Surat.
Equitas Small Finance Bank: The Reserve Bank of India allowed SBI Funds Management to acquire up to 9.99% shareholding of the bank through the schemes of SBI Mutual Fund.
PNC Infratech: The company's subsidiary Akkalkot Highways received appointed date of Dec. 28, 2022, for construction of six-lane with access controlled greenfield highway on a section of NH-150C under Bharatmala Project.
LTIMindtree: Venugopal Lambu resigned from the position of whole-time director and president, Markets II, effective Jan. 10.
Can Fin Homes: The company appointed Apurav Agarwal as chief financial officer, effective Jan.4, 2023, after the resignation of Prashanth Joishy from the post.
Themis Medicare: The company launched Lenzetto, a global brand of Estradiol Novel Drug Delivery System for treatment of menopausal symptoms.
HDFC: Business Update For December Quarter (Y-o-Y)
- The lender assigned loans worth Rs 8,892 crore, against Rs 7,468 crore in corresponding quarter last year.
- Loans sold in the preceding 12 months increased to Rs 35,937 crore from Rs 27,591 crore in the previous year.
- The gross income from dividend increased to Rs 482 crore from Rs 195 crore last year.
Vedanta: Business Update For December Quarter (Y-o-Y)
- The total aluminum out declined 2% to 566,000 tonnes
- Integrated zinc output fell 2% to 210,000 tonnes
- Power sales increased 5% to 3,616 million units.
Avenue Supermarts: Business Update For December Quarter (Y-o-Y)
- Revenue from operations rose 24.7% to Rs 11,304.58 crore.
- The company added four stores during the quarter.
IndusInd Bank: Business Update For December Quarter (Y-o-Y)
- Net advances increased 19% to Rs 2.72 lakh crore.
- Deposits grew 14% to Rs 3.26 lakh crore.
- CASA ratio declined to 42% from 42.4%.
Punjab and Sind Bank: Business Update For December Quarter (Y-o-Y)
- Total deposits increased 9.11% to Rs 1,09,497 crore.
- CASA deposits grew 11.33% to Rs 36,460 crore.
- Gross advances increased 17% to Rs 78,049 crore.
Sah Polymers: The IPO was subscribed 5.35 times on the third day. The QIB portion was subscribed 1.05 times, while the HNI portion was subscribed 6.49 times. The retail portion was subscribed 16.53 times.
Radiant Cash Management Services: The company will list its shares on the exchanges on Jan. 4. The issue has been priced at Rs 94 per share. The IPO, which ran from Dec. 23 to 27, was subscribed only 53%. The QIB portion was subscribed 1.01 times, whereas the HNI portion was subscribed 66%. The retail portion was subscribed 21%.
Multi Commodity Exchange: Norges Bank - Government Pension Fund Global bought 3.38 lakh shares (0.66%) at Rs 1,482.59 apiece.
Who’s Meeting Whom
Safari Industries: To meet investors and analysts on Jan. 4.
Blue Star: To meet investors and analysts on Jan. 31.
Persistent Systems: To meet investors and analysts on Jan. 19.
Gati: To meet investors and analysts on Jan. 4.
Record Date Interim Dividend: Shriram Finance
Move Into Short-Term ASM Framework: GIC Housing Finance, Universal Cables, BF Investment, SML Isuzu, Media Matrix Worldwide
Move Out Of Short-Term ASM Framework: Goodluck India
NRB Bearings: Promoter Group Aziz Yousuf Zaveri bought 1,488 shares on Dec. 29.
Star Cement: Promoter group Hardeo Das Kamakhya Prasad HUF bought 20,985 shares between Dec. 29 and 30, promoter group Kamakhya Chamraria bought 5,000 shares on Dec. 29 and promoter group Rahul Chamaria bought 14,000 shares on Dec. 30.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Industries pledged 11.5 lakh shares between Dec. 29 and 30.
Money Market Update
Rupee closed 0.17% lower against the U.S. dollar at 82.89 on Tuesday, compared to Monday’s close of 82.75.
Nifty January futures ended at 18,315, a premium of 39.15 points.
Nifty January futures rose 2.66% and 5,692 shares in Open Interest.
Nifty Bank January futures ended at 43,634.95, a premium of 241.15 points.
Nifty Bank January futures rose 4.78% and 4,182 shares in Open Interest.
Securities added to the ban period: Nil
Securities removed from the ban period: Nil