News Shots

IT services major Tata Consultancy Services (TCS) on Monday said it has expanded its strategic partnership with Star Alliance, the world’s largest airline alliance.

Kotak Mahindra Bank said the RBI has approved the re-appointment of Uday Kotak as managing director of the bank for a further period of three years.

US-based Oaktree on Monday outbid Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources.

JSW Steel raised $250 million(~Rs 1,800 crore) by selling bonds overseas. The bond sale is an extension to its earlier issuance in October, when the steel maker raised $500 million.

Bharti Airtel is of the view that average revenue per users (ARPUs) would have touched Rs 200 already had the pandemic not happened and believes that the company should get there in the next few months, according to a latest Goldman Sachs report.

Burger King jumped 130.67 per cent on its debut on Monday, from its issue price of Rs 60. It closed at the 20% Upper Circuit yesterday.

Adani Logistics continued to reduce its stake in Snowman Logistics as it sold another 12,45,956 shares in the company at Rs 62.21 per share.

Tata Steel has increased its aggregate indirect shareholding in Tata Steel Minerals Canada to 82% after acquiring 4.32% additional equity in TSMC. Acquisition was done via share swap and other inter-company adjustments.

Computer Age Management Services(CAMS) has incorporated a wholly-owned subsidiary named CAMS Payment Services. The subsidiary will be making an application to the RBI for being registered as a payment aggregator.

Mukesh Ambani-promoted Reliance Jio, which is the largest telco with 40.4 crore subscribers, approached the regulator alleging that rivals Bharti Airtel and Vodafone Idea (VI) were taking away its users under the guise of farmer support.

Promoters Gautam Adani, Rajesh Adani and Adani Tradeline revoked pledge of 94.98 lakh shares in Adani Enterprises between December 10-11.

The US Electoral College has formally declared Joe Biden’s victory over Donald Trump. In other news from the US, the first person in the country was vaccinated yesterday.

What to expect today?

Just like Friday, NIFTY saw a sharp fall near noon yesterday. But even before the 13,400 level, it took support. Media and PSU were the top gainers. You can read all about yesterday’s movements here.

Bank Nifty heavily consolidated yesterday, in less than a range of 250 points. This is very unusual for the index. Consolidation was due to HDFC Bank falling and other banks going up.

European markets have all fell from day’s high and closed mixed, after opening in green yesterday. US Markets have closed in red after trading in green. SGX NIFTY is trading at 13,545, which is 5-10 points lower, indicating a flat opening in the Indian Market. 

NIFTY is likely to trade between 13,420 and 13,650 today. 

Highest Open Interest on Call side has moved to 13,600 strike(Market looking bearish?). Maximum Open Interest on Put side at 13,000 strike.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,264.38 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,721.11 crore

Heavyweights HDFC Bank and Reliance fell once more yesterday. Reliance has admitted it is facing customer loss after the Farm Protests have begun, definitely not good for the company. HDFC Bank continues to be in a downtrend.

Nifty touched a fresh all-time high again yesterday. 13,600 was taken as the resistance. Will it test a new high after opening with a gap-up today? Let me know in the comments below, if you are on the marketfeed mobile app.

FIIs have not stopped pumping in money to the markets, but buying has reduced. Similarly, DII selling has also reduced.

As we talked yesterday, NIFTY is still expected to consolidate. We actually did see the midcap index outperforming NIFTY, as predicted. Let us wait for more of such moves. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!