Stock Market Today: All You Need To Know Going Into Trade On Dec. 4
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian indices fell in the early trade with South Korea's Kospi falling the most after President Yoon Suk Yeol said he will rescind his martial law decree, giving in to the parliament’s opposition just hours after his dramatic move imposing it.
At 7:01 a.m., South Korea's Kospi fell 1.8%, Australia's ASX 200 traded 0.5% down, Japan's Nikkei fell 0.2%, and China's CSI 300 was 0.1% lower.
In US, S&P 500 ended 0.05% up at 6,049.88, Dow Jones closed 0.17% down at 44,705.53 and Nasdaq Composite rose 0.40% to close at 19,480.91.
At 7:04 a.m., GIFT Nifty was at 24,512.00 up by 12 points or 0.04%.
Benchmark equity indices gained for a third consecutive session to close at their highest in around a month as global sentiment was uplifted ahead of monthly jobs data from the US and on the back of gains in heavyweights.
Intraday, Sensex hit a high of 80,949.10, its highest level since Oct. 22, and Nifty hit a high of 24,481.35 points, its highest since Nov. 7.
Nifty ended 0.75% or 181.10 points up at 24,457.15, its highest close since Nov. 6, and Sensex ended 0.74% or 597.67 points higher at 80,845.75, its best close since Oct. 21.
Overseas investors turned net buyers of Indian equities after three consecutive sessions of selling on Tuesday, while the domestic institutional investors turned net sellers after four straight sessions of buying.
Foreign portfolio investors mopped up stocks worth Rs 3,664.67 crore, and the domestic institutional investors bought shares worth Rs 250.99 crore, according to provisional data shared by the NSE.
Stocks To Watch
Reliance Power: The Solar Energy Corp. withdrew the order banning the company from participating in all the future tenders for three years. This means the company and its units, except Reliance Nu Bess, are now eligible to participate in all SECI tenders.
ONGC: The company invested over Rs 10,000 crore in its arm ONGC Petro Additions (OPaL) by way of subscription of shares on a right basis.
Aditya Birla Capital: The company invested Rs 300 crore in its arm, Aditya Birla Housing Finance, on a rights basis.
Indian Energy Exchange: The total electricity trade volume in November rose 15.7% year-on-year to 9,689 million units. The Day-Ahead Market (DAM) volume increased 9.8% to 5,651 MU in November from 5,144 MU in the same month last year.
Kaynes Technology: The company acquired a 54% stake in Austria-based Sensonic, which is a provider of Distributed Acoustic Sensing (DAS) solutions to monitor railway infrastructure.
RVNL: The company received an order worth Rs 187 crore from East Central Railway.
EPACK Durable: The company incorporated wholly owned subsidiary EPACK Manufacturing Technologies. It also informed SIIB officials that they initiated a search at the Rajasthan manufacturing facility on Dec. 2, which concluded without seizing any documents or items.
India Glycols: Promoter Kashipur Holdings increased its stake from 38.14% to 50.35%, making it the holding company. Aggregate shareholding of promoter and promoter group remains at 61.01%.
PB Fintech: The company incorporated PB Healthcare to carry on healthcare services business.
Quess Corp: The company will acquire the catering business of Archer Integrated Services and Astrin Traders and Supplies for Rs 11 crore.
Vakrangee: Amit Sabarwal resigned from the post of Executive Director and Group CEO.
Welspun Living: The board approved the sale of Welspun Home Solutions to Welspun Advanced Materials (India).
Sudarshan Chemical: The company launched a new product named Sumica Bright Gold 41633, a natural mica-based effect pigment for coatings, plastics, and printing inks.
United Breweries: Introduced Amstel Grande in the premium strong beer category in West Bengal.
IPO Offerings
Suraksha Diagnostic: The public issue was subscribed 1.27 times on the final day. The demand for the public offer was led by qualified institutional investors (1.72 times), non-institutional investors (1.41 times), and retail investors (0.95 times).
Bulk Deals
TBO Tek: Augusta TBO (Singapore) Pte sold 40.74 lakh shares (3.75%), and TBO Korea Holdings sold 23.05 lakh shares (2.12%) at Rs 1,465.14 apiece. On the other hand, SBI Mutual Fund purchased 12.5 lakh shares (1.15%), Axis Mutual Fund bought 8.76 lakh shares (0.8%), and ICICI Prudential Mutual Fund acquired 6.63 lakh shares (0.61%), all at Rs 1,465 per share.
Zen Technologies: Kishore Dutt Atluri sold 10 lakh shares (1.18%) at Rs 1800.01 apiece, and Ashok Atluri sold 10 lakh shares (1.18%) at Rs 1801.16 apiece. Buyers include Motilal Oswal Mutual Fund, which bought 11.11 lakh shares (1.32%) at Rs 1,800 apiece.
Medi Assist Healthcare Services: Smallcap World Fund Inc sold 8.5 lakh shares (1.2%) at Rs 588 apiece.
Indegene: CA Dawn Investments sold 1.02 crore shares (4.29%) at Rs 619.82 apiece.
Deepak Nitrite: Motilal Oswal Midcap 30 Fund sold 7.6 lakh shares (0.55%) at Rs 2,653.22 apiece.
Responsive Industries: Brenzett sold 25 lakh shares (0.92%) at Rs 254.59 apiece.
Insider Trades
Sheela Foam: Promoter Rahul Gautam bought 12,500 sahares on Dec. 2
Trading Tweaks
Price Band revised 20% to 5%: Emkay Taps and Cutting Tools.
Ex/record Interim Dividend: Can Fin Homes.
F&O Cues
Nifty November futures are up by 0.43% to 24,547.00 at a premium of 89.85 points.
Nifty November futures open interest fell by 1.32%.
Nifty Options December 5 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 23,500.
Securities in ban period: Granules India, Manappuram Finance, RBL Bank.
Money Market Update
The Indian rupee extended its record fall but ended flat on Tuesday as foreign outflows and domestic growth concerns, coupled with Donald Trump's threat on the BRICS countries, weighed on the currency.
The rupee closed flat at 84.69 after hitting a record low of 84.75, according to Bloomberg data. The local unit closed at 84.7 against the greenback on Monday.
