News Shots

Senate Majority leader Mitch McConnel said that leaders are still talking about fresh aid but believes that “We are going to get there.” Fed Chair Jerome Powell said that the case for fiscal stimulus is ‘very, very strong. Markets may rally if the stimulus is actually announced.

After 4-wheeler stocks, Hero MotoCorp is set to increase the prices of its products by up to Rs 1,500 from January 1, 2021. The increase will vary across models. Steady rise in commodity costs including steel, aluminium cited as the reason behind price hikes.

Snowman Logistics is set to consider a proposal for raising of funds by way of a Qualified Institutions Placement at its meeting on December 21. Adani Logistics continued to sell lakhs of shares.

The Government of India has proposed to offer up to 16 lakh shares of face value of Rs 10 each of IRCTC to the eligible employees of the company at a price of Rs 1377.55 per share.

Aster DM Healthcare through its subsidiary, Aster DM Healthcare FZC, has acquired a company in the Grand Cayman, Cayman Islands – Aster Caribbean Holdings.

Jubilant FoodWorks has launched a new brand, Ekdum, which will offer twenty different biryanis curated from various parts of India. Ekdum will start with three restaurants in Gurgaon.

Cabinet approved Rs 3,500 crore subsidy for sugar farmers and Rs 6,000 per tonne subsidy for sugar exports to be given for 60 lakh tonnes sugar exports. Sugar stocks in focus.

Nomura Singapore acquired 14,96,357 equity shares in CSB Bank at Rs 214.5 per share, whereas Akena sold the same number of shares at the same price on the NSE.

Frigorifico Allana Private Limited bought 16.5 lakh equity shares in LT Foods at Rs 59.95 per share on the NSE.

HDFC Asset Management Company reduced stake in the Sagar Cements to 4.61 percent from 6.66 percent.

Computer Age Management Services(CAMS) has been considered eligible for selection and further grant of registration as a Central Record Keeping Agency under the National Pension Scheme (NPS).

Wipro said it has completed the acquisition of 83.4 per cent equity stake in Chennai-based Encore Theme Technologies.

State oil companies have hiked the rates of cooking gas by Rs 50 per cylinder, the second rise in a fortnight, making the fuel dearer by Rs 100. IOC, HPCL, BPCL in focus.

Oil prices hit a nine-month high early on Thursday after US government data showed that crude stockpiles fell last week and on optimism over a coronavirus relief package in the United States. Oil companies in focus.

What to expect today?

Yesterday, Nifty rallied on hopes of financial aid and GST rate cuts to many sectors, especially housing and auto. HDFC and HDFC Bank were among the top contributors to the rally.

Even with this movement, Bank Nifty remained flat. This was mainly because ICICI Bank cancelled out HDFC Bank’s movements, by being the top-loser in Nifty 50. Click here to read all about yesterday’s movements.

Asian markets are trading mixed. European markets had all closed in the green. The US Federal Reserve(similar to India’s Reserve Bank) announced no change in repo rates. It also promised hundreds of billions worth of buying in the bond market. A stimulus package is said to be “highly likely”, according to government officials and Fed Chairman.

SGX Nifty is currently trading at 13,677.80, a bit down from yesterday’s close. This indicates we might see a slight gap-down opening today.

NIFTY is likely to trade between 13,520 and 13,780 today. 

Maximum Open Interest on Call side at 13,800 strike. Highest Put Option Interest is at 13,000. Are markets set to fall?

Foreign institutional investors (FIIs) net bought shares worth Rs 1,982 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,718 crore.

Reliance still looks bearish and is struggling. HDFC and HDFC Bank are looking to be in a good position. When will NIFTY’s heavyweight, Reliance, reverse?

Nifty is expected to consolidate or fall today, after the confusion in global markets. Let us see if it a small pause to the rally. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!