News Shots

Mahindra and Mahindra has said that it will increase the prices of its commercial and passenger vehicles from 1 January next year. Last week, Maruti had announced the same.

Future Enterprises Ltd (FEL) is planning to prepay the debentures holders of the company from the money to be received after selling its retail and other businesses to Reliance Retail Ventures.

Embassy Office Parks REIT is looking to raise $500 million(~Rs 3,700 crore) through a Qualified Institutional Placement (QIP), said two persons with direct knowledge of the development.

Majesco Unifi AIF and Unifi AIF (11189) sold a total of 5.8 lakh shares of Majesco. At the end of September, it held a 1.89 per cent stake in the company. The company made headlines yesterday after announcing a dividend almost same as its stock price. It is the proceeding of sales of the India unit to Majesco US. Not a good time to invest, due to multiple reasons. Best is to avoid the stock.

Adani Logistics continued to trim its stake in Snowman Logistics as it sold another 14.43 lakh shares in the company at Rs 59.12 per share.

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.

IDBI Bank has launched fund raising through Qualified Institutional Placement(QIP) issue. Floor price of Rs 40.63 per share is a 3.8% discount to Tuesday’s closing price. The bank aims to raise Rs 2,000 crore through QIP.

Punjab National Bank also has launched QIP issue to raise funds. The floor price of Rs 37.35 per share is a 7.6% discount to Tuesday’s closing price. The bank aims to raise Rs 7,000 crore through the QIP.

PVR to consider fund raising via various methods at its board meeting on December 18.

Mrs Bectors Food Specialities IPO sees overall subscription of 3.72 times on the first day of bidding. The QIB portion saw subscription of 0.02 times while the non-institutional investor portion saw subscription of 1.37 times. The retail portion was subscribed 6.83 times.

Burger King India shares again went up 20% to close at Rs 162. The issue price was Rs 60. Looks like it is going up again today. When will profit booking start?

What to expect today?

The trend of FIIs buying while DIIs sell continues. Every time market tries to fall, it is pulled back up. Media stocks outperformed again yesterday. Auto stocks will benefit from the price increase. Government is also looking in to pump money into the market and increase the liquidity of NBFCs(might be the reason they went up yesterday).

Bank Nifty fell sharply yesterday, but did not recover like NIFTY. A red candle was created in the 1-day chart.

Asian markets are ALL trading in green. European markets mostly closed in green, except in UK where a new COVID strain has been found. Keep following this news. US markets have also closed in green. SGX Nifty is currently trading at 13,645.20, up 80 points. This indicates we might see a gap-up opening today.

NIFTY is likely to trade between 13,460 and 13,680 today. 

Maximum Open Interest on Call side at 13,600 strike. Highest Put Option Interest is at 13,500. Will markets consolidate between this range?

Foreign institutional investors (FIIs) net bought shares worth Rs 2,487 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,667 crore

Reliance tried to go up yesterday, after Mukesh Ambani’s comments at the Fuel for India event with Mark Zuckerberg. But nothing can be talked about the bullishness of the stock until it sustains above Rs 2,000.

Will Nifty touch a fresh all-time high today? I feel like it will, let me know in the comments if you feel the same!

Yesterday, FII Buying dipped below DII selling but still the market went up. This is because money is being redistributed among the heavyweights of NIFTY.

Nifty is expected to go up today, after the positivity from around the world. Let us see if the gap-up will be sustained. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!