Stock Market Today: All You Need To Know Going Into Trade On Jan. 6
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Stocks in Asia were mixed and US futures climbed ahead of additional crucial jobs data, on Friday morning. U.S. stocks were weighed down by strong labour market data on Thursday, which is considered a precursor to further rate hikes by the Fed.
Equities rose in Australia but fluctuated in Japan and South Korea. Futures for Hong Kong and Chinese benchmarks advanced, indicating an extension to the rally seen this week following positive news on China’s reopening.
The S&P 500 fell 1.2% by mid-day in New York, while the tech-heavy Nasdaq 100 was also down 1.2%. Meanwhile, yield on 10-year Treasuries advanced four basis points to 3.72%.
At 6:22 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was down 0.32% to 18,007.5.
Overseas investors were net sellers of Indian equities for the tenth day in a row on Thursday. Foreign portfolio investors net sold Indian equities worth Rs 1,449.45 crore, while the domestic institutional investors broke their 21-day buying streak and sold 194.09 crore worth of Indian stocks on Thursday.
Domestic indices closed in the red for the second day in a row after trading flat for most of the session, even though the market breadth saw most stocks advance.
Rupee extended its rally against the U.S. dollar to close 25 paise higher at the day’s high of 82.55.
Stocks To Watch
IDBI Bank: SEBI allowed classification of government stake as public shareholding after divestment of the bank.
Tata Motors: The board of the company will convene on Jan. 25 to consider and approve the financial results for quarter ended December 2022.
Rail Vikas Nigam: The company received order worth Rs 166 crore from Gujarat Metro Rail Corporation for design, supply, installation, testing and commissioning of ballast-less track from Sarthana to Dream City under first phase of Surat Metro Rail Project.
Coal India: The company’s registered a growth of 10.3% in production on-year, while India’s total coal production increased by 10.81% to 82.87 million tonnes.
Ambuja Cement: The company incorporated Ambuja Resources for manufacturing cement and allied products, alternate fuel and power generation.
Larsen & Toubro: The company’s subsidiary L&T Realty Developers entered into an Agreement to sell its entire stake of 99% in Think Tower Developers for Rs 1 lakh.
Aster DM Healthcare: The company’s chief financial officer Sreenath Pocha Reddy resigned from the post, effective Jan. 5, 2023.
Reliance Industries: English football club Manchester City has partnered with Jio Platforms, a subsidiary of the company, where the latter will be the club’s official mobile communications network partner in India.
Pokarna: The U.S. Department of Commerce ruled that the company’s subsidiary Pokarna Engineered Stone Ltd. did not make sales of subject merchandise at less than normal value during the period of review Dec. 13, 2019 through May 31, 2021, thereby not violating anti-dumping regulations.
RHI Magnesita: The board approved acquiring Dalmia OCL from Dalmia Bharat Refractories in a share swap, where the company will allot 2.7 crore shares at issue price of Rs 632.50 apiece to DBRL in exchange for its 8.25 crore shares.
Kewal Kiran Clothing: The company, which runs the fashion brand Killer, has entered a strategic partnership Board of Control for Cricket in India to become an official partner of the Indian cricket team.
Mukand: The company completed the sale of 45.94 acres of the land in Thane, Maharashtra to AGP DC Infra Two for Rs 796.46 crore.
Mahindra & Mahindra: The company’s subsidiary Mahindra and Mahindra South Africa (Proprietary) informed that step-down subsidiary Mahindra West Africa was dissolved as on Jan. 4, 2023 by the Corporate Affairs Commission, Nigeria.
Bajaj Finserv: Bajaj Allianz General Insurance December Business Update
- The gross direct premium underwritten for the month stood at Rs 1,209.25 crore.
- The same for the period up to December 2022 was Rs 11,608.60 crore.
Who’s Meeting Whom
Aarti Drugs: To meet investors and analysts on Jan. 6.
Tata Power: To meet investors and analysts on Jan. 6.
Ex Date Buyback: Jagran Prakashan
Ex Date Face Value Split: Supreme Petrochem
Ex Date Bonus: Rama Steel Tubes
Record Date Buyback: Jagran Prakashan
Record Date Face Value Split: Supreme Petrochem
Record Date Bonus: Rama Steel Tubes
Move Out Of Short-Term ASM Framework: Salasar Techno Engineering
Money Market Update
Rupee closed 0.31% higher against the U.S. dollar at 82.55 on Thursday, compared to Wednesday’s close of 82.81.
Nifty January futures ended at 18,070.05, a discount of 33 points.
Nifty January futures fell 0.07% and 156 shares in Open Interest.
Nifty Bank January futures ended at 42,752.25, a discount of 383.90 points.
Nifty Bank January futures rose 2% and 1,874 shares in Open Interest.
Securities added to the ban period: IndiaBulls Housing Finance
Securities removed from the ban period: Nil