Market Commentary
Global markets – US indices closed positive on Monday led by broad based gain. Dow Jones closed green by 0.5 pct. While Nasdaq closed higher by 0.5 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 48,362 | 0.5 | 13.7 |
| Nasdaq | 23,428 | 0.5 | 21.3 |
| Hang Seng | 25,856 | 0.2 | 28.9 |
| Nikkei | 50,442 | 0.1 | 26.4 |
Commodities – Gold prices rose and currently stood at USD 4,490 amid geopolitical risk. On the other hand, oil prices stood at USD 61.50/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 4,490 | 1.0 |
| Silver ($) | 69.66 | 0.9 |
| Brent Crude ($) | 61.50 | -0.9 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 25,856 | 58,533 |
| 100 DMA | 25,353 | 56,827 |
| 200 DMA | 24,821 | 55,535 |
Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.2 pct. While Nikkei trading in red by 0.1 pct.
Indian Indices – India’s equity benchmarks are likely to open flat as GIFT Nifty indicates. Benchmark Indices extended gains on Monday on the back of rally in IT and metal stocks.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 85,567 | 0.8 | 9.5 |
| Nifty | 26,172 | 0.8 | 10.7 |
| Nifty Bank | 59,304 | 0.4 | 16.6 |
| Nifty Midcap 100 | 60,815 | 0.8 | 6.3 |
| Nifty Smallcap 100 | 17,593 | 1.2 | -6.3 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -457 | -294996 |
| DII | 4058 | 763,772 |
Stocks to watch
Positive Read through
- Antony Waste – Bags Rs. 3.3 bn 10-year order from Thane Municipal Corporation.
- Zen technologies – Secures Indian patent for 60 mm mortar simulator.
- Hind Zinc/Manappuram – Silver and gold extend record run and trade at all-time highs.
- Coforge – Board to meet on December 26 to consider fund raise via QIP and other means.
- Ramco Cements – Sells non-core assets worth Rs. 5.15 bn to Prestige Estates to pare debt.
- Emcure Pharma – US FDA approves first GLP-1 pill for obesity from Wegovy maker Novo Nordisk.
- USL/UBL – Delhi government amends excise policy and hikes storing limits and annualised possession limits.
- Lloyds Ent – To undertake strategic restructuring to unlock shareholder value in real estate business.
- Sanghvi Movers – Renewables arm bags an order worth Rs. 4.29 bn.
- Paytm – Sets up arms in Indonesia and Luxembourg and inks 51:49 JV in UAE with Emaar Properties founder company.
- HCLTech – Completes USD 240 mn Jaspersoft acquisition and arm to acquire data analytics startup Wobby for €4.5 mn.
- ACC – Ambuja will issue 328 shares for every 100 shares held in ACC as per merger agreement.
- Ambuja – Board approves amalgamation of ACC and Orient Cement with the company.
- Lenskart – Arm to acquire 50 pct stake in Thailand-based Marco Optical for USD 5 mn.
- Saatvik – Bags order worth Rs. 4.86 bn for supply of solar PV modules.
- Stanley Life – Signs licence agreement with Hilker to distribute its products for an agreed royalty.
- GMR Power – Arm completes refinancing of Rs. 27 bn existing debt at a lower borrowing cost.
Negative Read through
- OMC’s – Brent crude rises USD 62/bbl as US ramps up action against Venezuela.
- Belrise – Promoter group likely to sell up to 6.65 pct equity via block deal, floor price at Rs. 153.7/share.
- Sarda Energy – Leakage in pipeline in captive power unit leads to one casualty.
- Chola Invst – Cobrapost alleges worrying pattern of large value cash transactions.
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