Stock Market Today: All You Need To Know Going Into Trade On Dec. 28
Stocks in the news, big brokerage calls of the day, complete trade setup and much more.
Stocks in Asia fell Wednesday after US shares dropped and Treasury yields rose on growing unease that relaxing pandemic measures in China would add further inflation to the global economy.
Stocks in Japan and Australia declined and South Korea’s Kospi benchmark tumbled as much as 2%.
U.S. markets faltered as bond yields weighed on investor sentiment. The S&P 500 was little changed till mid-day, while the tech-heavy Nasdaq 100 fell 0.8%. The yield on 10-year Treasuries advanced nine basis points to 3.84%.
Meanwhile, crude rose 1.7%, while gold futures increased 1.4%. Bitcoin declined 0.4% to trade around $16,800-level.
Overseas investors in Indian equities remained net sellers for the third day in a row.
Foreign portfolio investors offloaded equities worth Rs 867.6 crore, domestic investors, on the other hand, remained net buyers for the 15th day in a row and mopped up stocks worth Rs 621.8 crore, according to NSE data.
India benchmark indices Sensex and Nifty continued their rally for a second day, paring losses from early trade to close higher at the end of a volatile day.
Rupee reversed gains from a day before against the U.S. dollar amid month-end dollar demand among importers and forex outflows.
At 6:42 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.38% to 18,079.5.
Stocks To Watch
Hindustan Petroleum Corporation: Amit Garg appointed as director (marketing) on the board of the company till March 31, 2027.
Punjab & Sind Bank: The board will meet on Dec. 30 to consider raising Rs 250 crore within 12 months.
Aditya Birla Capital: Sanchita Mustauphy appointed chief risk officer of the company, with effect from April 1, 2023, for five years.
Rail Vikas Nigam: The company has been appointed as the implementation agency for the UTF Harbor Project in Maldives, worth Rs 1,544.60 crore. This is a strategic project of the Government of India.
MOIL: Ajit Kumar Saxena has been appointed as chairman and managing director of the company till Dec. 31, 2025.
Suryoday Small Finance Bank: The RBI approved reappointment of Baskar Babu Ramachandran as the MD and CEO of the bank for three years, starting Jan. 23, 2023.
India Pesticides: The company’s subsidiary Shalvis Specialities has received environmental clearance for setting up manufacturing plant of agrochemicals and intermediates, API ingredients and intermediates and fine chemicals manufacturing unit in Hamirpur, Uttar Pradesh.
Radiant Cash Management Services: The IPO was subscribed 0.53 times, or 53% on the closing day. The QIB portion was subscribed 1.01 times, whereas the non-institutional investors placed bids for 66% of their portion. The retail portion was subscribed 21%.
Bajaj Finserv: Jamnalal Sons bought 6.52 lakh shares (0.04%), Rishab Family Trust sold 6.52 lakh shares (0.04%) at Rs 1,540 apiece.
SP Refractories: SK Growth Fund bought 48,000 (0.21%), Aryaman Capital Markets sold 48,000 (0.21%) at Rs 85 apiece.
Yasho Industries: Jignesh Amrutlal Thobhani sold 61.500 shares (0.54%) at Rs 1,613.35 apiece.
Who’s Meeting Whom
DCX Systems: To meet investors and analysts on Dec. 28.
Ex-Date Annual General Meeting: IVRCL
Ex-Date Interim Dividend: Sikko Industries
Ex-Date Bonus: Advait Infratech
Record-Date Face Value Split: Filatex India
Ugar Sugar Works: Promoter Group Sandhya Ashok Kumar Gupta sold 1.88 lakh shares on Dec. 23.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 26.
Titagarh Wagons: Promoter Group Titagarh Logistics Infrastrucutures bought 2.09 lakh shares on Dec. 22.
KCP: Promoter DR. V.L. Indira Dutt bought 10,000 shares between Dec. 23 and Dec. 26.
Money Market Update
Rupee closed 0.25% lower against the U.S. dollar at 82.86 on Tuesday, compared to Monday’s close of 82.65.
Nifty December futures ended at 18,144.15, a premium of 116.85 points.
Nifty December futures fell 19.41% and 30,556 shares in Open Interest.
Nifty Bank December futures ended at 42,886.90, a premium of 233 points.
Nifty Bank December futures fell 19.18% and 11,701 shares in Open Interest.
Securities added to the ban period: Balrampur Chini Mills, IndiaBulls Housing Finance, Punjab National Bank
Securities removed from the ban period: Nil