Stock Market Today: All You Need To Know Going Into Trade On Dec. 5
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Stocks opened on a cautious note in Asia as investors weighed the impact of a hot US jobs report and an accelerated shift toward reopening of the Chinese economy.
Oil advanced after OPEC+ left oil production steady, sanctions on Russian crude took effect and China’s loosening of Covid restrictions improved the outlook for demand.
Investors will watch Reserve Bank of India’s monetary policy, global cues, foreign fund and election results outflows this week.
U.S. jobs data was stronger than expected on Friday, raising fears that the Federal Reserve still may not have room to slow down its hikes. A surge in Treasury 10-year yields fizzled out. The S&P 500 fell as much as 1% but erased gains to close 0.1% lower. The Nasdaq 100 fell 0.4%, while the Dow Jones Industrial Average was little changed.
Back home, S&P BSE Sensex and Nifty 50 snapped their eight-day gaining streak to end lower on Friday. The S&P BSE Sensex closed 415.69 points lower at 62,868.50, while the Nifty 50 shed 116.40 points to end at 18,696.10. Both the benchmarks scaled new lifetime highs earlier in the week.
The focus will stay on the RBI’s Monetary Policy Committee’s rate decision on Dec. 7.
At 6:22 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.16% to 18,555.
Stocks To Watch
Ceat/MRF: The NCLAT disposed of all 14 appeals against the CCI order against certain tyre manufacturers on cartelisation of the industry. The tribunal remitted the matter back to CCI to re-examine arithmetic errors in calculation.
UltraTech Cement: The company commissioned 1.8 MTPA greenfield grinding capacity at Dhule Grinding Unit, Maharashtra, and 1.8 MPTA brownfield clinker-backed second grinding capacity at Dhar Cement Works, Madhya Pradesh.
PNB Housing Finance: The company paid a fine of Rs 3 lakh to BSE and NSE for not having the requisite number of independent directors.
Ion Exchange: The company has won a contract Rs 343.36 crore from Indian Oil Corporation for designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test run and operation and maintenance for five years of zero liquid discharge plant at Panipat refinery.
Hindustan Aeronautics: The company received an income tax refund order worth Rs 427.45 crore.
Easy Trip Planners: The company signed Share Purchase Agreement with Nutana Aviation Capital IFSC to acquire 75% stake in the latter.
State Bank of India: The bank raised Rs 10,000 crore through its maiden infrastructure bond issuance at a coupon rate of 7.51%.
DFM Foods: The Directorate General of GST Intelligence alleged the Company has been misclassifying its products. The company refuted the allegations and would seek an appeal against the order.
Ajmera Realty & Infra India: The board approved continuation of Rajnikant S. Ajmera as the Chairman and Managing Director of the company beyond the age of 70 years.
SpiceJet: The company will hold its AGM on Dec. 26 to approve financial statements for the fiscal ended March 2022, and re-appointment of Ajay Singh as a director.
Mahindra & Mahindra Financial Services: November 2022 business update
The company saw disbursements rise 75% year-on-year to Rs 4,500 crore.
Collection efficiency improved to 96% from 94% a year ago
Uniparts India: The issue was subscribed 25.32 times on the final day. The QIB portion was subscribed 67.14 times, while HNIs placed bids for 17.86 times the portion reserved for them. The retail basket was subscribed 4.63 times.
PB Fintech: Alps Kotak India Growth Fund bought 1.33 lakh shares (0.03%), The Royal Bank of Scotland as trustee of Jupiter India Fund bought 2.81 lakh shares (0.06%), Avendus bought 14 lakh shares (0.31%), Bay Pond bought 6.4 lakh shares (0.14%), BNP Paribas Arbitrage bought 17.8 lakh shares (0.4%), Citigroup Global Markets Mauritius bought 5 lakh shares (0.11%), CMAP Graticule Fund bought 1.39 lakh shares (0.03%), Cohesion MK Best Ideas Sub-Trust bought 2.5 lakh shares (0.06%), Franklin Templeton bought 19.52 lakh shares (0.43%), FundPartner Solutions (Suisse) Sa-Migros-Pensionskasse Fonds-Aktien Welt bought 85,419 shares (0.02%), Ghisallo Master Fund bought 17.4 lakh shares (0.39%), Goldman Sachs (Singapore) bought 10.5 lakh shares (0.23%), Graticule Asia Macro Singapore bought 1.11 lakh shares (0.02%), Jupiter South Asia Investment Company bought 68,590 shares (0.02%), Kotak Funds bought 15.29 lakh shares (0.34%), Max Life Insurance Company bought 14 lakh shares (0.31%), Mirae Asset Mutual Fund bought 4.1 lakh shares (0.09%), Morgan Stanley Mauritius Company bought 27.3 lakh shares (0.61%), Nippon India Mutual Fund bought 27.1 lakh shares (0.6%), Norges Bank on account of the Government Pension Fund Global bought 5 lakh shares (0.11%), Public Sector Pension Investment Board bought 50,533 shares (0.01%), Regal Funds Management bought 3.32 lakh shares (0.07%), Societe Generale bought 26 lakh shares (0.57%), Amazon Market Neutral Fund bought 83,269 lakh shares (0.02%), Tasman Market Neutral Fund bought 85,203 shares (0.02%), Templeton Global Investment Trust bought 2.82 lakh shares (0.06%), SoftBank SVF India Holdings (Cayman) sold 2.28 crore shares (5.08%) at Rs 456.4 apiece.
VST Industries: Damani Estates And Finance sold 93,000 shares (0.6%), Radhakishan Shivkishan Damani bought 93,000 shares (0.6%) at Rs 3,520 apiece.
Hindustan Construction Company: IDBI Trusteeship Services sold 77.77 lakh shares (0.51%) at Rs 18.18 apiece.
NDTV: Vikasa India EIF I Fund sold 3.89 lakh shares (0.6%) at Rs 414.54 apiece.
IIFL Wealth Management: Nirmal Madhu Family Private Trust sold 5.25 lakh shares (0.59%) at Rs 1,800.08 apiece.
Krishna Institute of Medical Sciences: General Atlantic Singapore sold 14.5 lakh shares (1.81%), Amansa Holdings bought 13.96 lakh shares (1.74%) at Rs 1,480 apiece.
Who’s Meeting Whom
Asian Paints: To meet investors and analysts on Dec. 5.
HCL Technologies: To meet investors and analysts on Dec. 8.
Varun Beverages: To meet investors and analysts on Dec. 6 and Dec. 7.
Max Ventures and Industries
Move Into Short-Term ASM Framework: Axita Cotton
Westlife Foodworld: Promoter Group Anurag Jatia sold 1.10 lakh shares between Nov. 30 and Dec. 1.
Ultramarine & Pigments: Promoter Group Deepa Ajay sold 1,398 shares and Promoter Daya Sridhar sold 1,548 shares between Dec. 1 and Dec. 2.
Natco Pharma: Promoter Group Natsoft Information Systems bought 17,400 shares on Dec. 1.
Vaibhav Global: Promoter Group Brett Enterprises bought 4,000 shares on Dec. 1.
Astra Microwave Products: Promoter C. Prameelamma sold 11,000 shares between Nov. 28 and Nov. 30.
KPIT Technologies: Promoter Hemlata Shende sold 1,000 shares on Dec. 1.
IIFL Wealth Management: Promoter & Director Karan Bhagat sold 29,732 shares, Promoter Group M/s Kyrush Investment sold 3.78 lakh shares and Promoter Group Nirmal Madhu Family Pvt. Trust sold 5.25 lakh shares on Dec. 2.
Likhitha Infrastructure: Promoter Srinivasa Rao Gaddipati sold 8.06 lakh shares on Nov. 30.
Pledge Share Details
Prime Focus: Promoter Group Namit Malhotra revoked a pledge of 29.88 lakh shares on Nov. 30.
IIFL Wealth Management: Promoter & Director Karan Bhagat revoked a pledge of 2.25 lakh shares on Dec. 2.
Money Market Update
Rupee lost all gains against the U.S. dollar to close lower at Rs 81.31 on Friday, compared to Thursday’s close of 81.22.
Nifty December futures ended at 18,815, a discount of 133.30 points.
Nifty December futures fell 7.4% and 18,322 shares in Open Interest.
Nifty Bank December futures ended at 43,320.80, a discount of 154.35 points.
Nifty Bank December futures fell 3.29% and 3,700 shares in Open Interest.
Securities added to the ban period: Delta Corp., IndiaBulls Housing Finance, Punjab National Bank
Securities removed from the ban period: Bharat Heavy Electricals
Air India Becoming Larger Post-Merger With Vistara Is On Expected Lines; Positive For Sector: ICICI Securities
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