News Shots

Zee Entertainment to acquire film production and distribution business on a slump sale basis from Zee Studios, a wholly-owned subsidiary. Acquisition to be done for a cash consideration of Rs 275 crore.

The Department of Horticulture, Government of Telangana has allotted area admeasuring 28,164 Hectares in the Mahabubabad District of Telangana to Godrej Agrovet, for the purpose of oil palm cultivation/expansion.

Life Insurance Corporation of India has acquired 6.28 crore shares of Canara Bank through the QIP, taking its total shareholding in the bank to 8.35% from 4.533%.

Crude oil climbed yesterday and touched a nine-month high, with traders optimistic about progress toward a US fiscal stimulus deal and very high refining demand in China and India.

Borosil Renewables raises Rs 200 crore through its QIP issue. The company has set an issue price of Rs 126.55 per share, which is a 5% discount from the QIP floor price of Rs 133.19 per share.

Aarti Industries, HDFC AMC, Dr Lal Pathlabs to Be Available In F&O Segment From January 1, 2021.

Adani Logistics sold 11.02 lakh shares (0.66%) of Snowman Logistics at Rs 58.58 per share.

Info Edge Ventures said Temasek has committed Rs 375 crore (about $50 million) to Info Edge Ventures. It is a Rs 750 crore early-stage venture capital fund backed by Info Edge, the parent company of Naukri.

Larsen & Toubro(L&T) is set to win orders worth Rs 13,000 crore after the company emerged the best bidder for two tenders floated by HPCL Rajasthan Refinery.

India’s third-largest private lender, Axis Bank, said it could see an increase in retail non-performing loans in the third and fourth quarters of this financial year before the situation normalises in 2021-22.

Private telecom operators Vodafone Idea (Vi) and Bharti Airtel may have to spend 5-10 per cent more on network gear if Chinese vendors Huawei and ZTE are left out of India’s list of trusted supplier sources, said industry executives and analysts.

SpiceJet said it would start 30 new domestic flights in a phased manner from next week.

What to expect today?

Yesterday Nifty took a good resistance near 13,780-13,800. Keep watching this zone today.

Bank Nifty established 30,800-31,000 as a good consolidation zone. Keep watching the index outside this range. Was also fun to see ICICI Bank’s rally pushing up Bank Nifty by even creating gaps in the chart.

European markets closed mixed Asian markets are mostly up. US markets are a bit in green. SGX NIFTY is trading at 13,764.20, which is 24 points higher, indicating a flat to gap-up opening in the Indian Market.

NIFTY is likely to trade between 13,620 and 13,880. 

Highest Call Open Interest is at 14,000 and highest Put Open Interest at 13,500.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,355.25 crore whereas domestic institutional investors (DIIs) net sold shares worth Rs 2,494.36 crore in the market yesterday.

HDFC Bank rallied yesterday, along with HDFC. It has covered almost all of its fall after the restrictions on Digital 2.0 came in. In fact, HDFC has even made a 52-week high.

Nifty is all set to make a fresh high today, with financial services sector bullish. We had discussed the possible reason yesterday in The Stock Market Show. The reason is FII money is probably being pumped into the Nifty Financial Services index stocks because derivative trading on the index is going to start from January.

Will NIFTY take a break before conquering 14,000? Do remember that heavyweight Reliance is still under Rs 2,000, more than 300 points down from its high.

But like we have seen after previous expiry days, markets may jump up today. Watch if NIFTY sustains above 13,800 is all I have to say. Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!