Even as the headline index ended flat today, Nifty formed a reasonable positive candle on the daily chart, which signaled the comeback of bulls after a minor downward correction. Analysts said the short term trend of Nifty remains negative, but the emergence of buying from the intraday lows of Monday could be a cheering factor for bulls to make a comeback. A sustainable up move only above the hurdle of 18650 levels could confirm an uptrend continuation pattern. Immediate support is placed at 18350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.Today’s low of 18345 in Nifty is expected to act as a short-term support. On the upside, 18664 could act as a resistance for Nifty.
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US stocks open higher as investors await CPI data, Fed decision
The Dow Jones Industrial Average rose 43.04 points, or 0.13%, at the open to 33,519.50.
Tech View: Nifty charts hint hurdle at 18,650. What traders should do on Tuesday
Even as the headline index ended flat today, Nifty formed a reasonable positive candle on the daily chart, which signaled the comeback of bulls after a minor downward correction. Analysts said the short term trend of Nifty remains negative, but the emergence of buying from the intraday lows of Monday could be a cheering factor for bulls to make a comeback. A sustainable up move only above the hurdle of 18650 levels could confirm an uptrend continuation pattern. Immediate support is placed at 18350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.Today’s low of 18345 in Nifty is expected to act as a short-term support. On the upside, 18664 could act as a resistance for Nifty.
The Bank Nifty index is likely to witness consolidation in the range of 43,000-44,000 where the highest amount of open interest is built up on the put and the call side respectively. The index has to break the range on either side for trending moves which may be seen after the key event of the fed policy due on Wednesday. The undertone remains bullish within the range and one should keep a buy-on-dip approach with immediate support seen at the 43,400 level.
– Kunal Shah, Senior Technical Analyst at LKP Securities
Domestic indices pared its early gains despite strength in global peers. Weak Nov Mutual Fund inflow data and downbeat outlook by IT giant HCL tech led to some profit booking in the market. Nifty opened positive but reversed its initial gains to close with loss of 113 points at 18497 levels. Buying was seen in FMCG, Pharma and Banking sector stocks. IT sector saw sharp decline after HCL Tech said that it expects FY23 revenue growth to be at the lower end of its 13.5%-14.5% guidance due to furloughs and drop in spending in some sectors. Markets seems to be consolidating for last few sessions as participants are lightning their position ahead of crucial US Fed meeting next week. US PPI data to be released later on Friday as well as US CPI data on 13th Dec – would be keenly watched as they would influence the Fed’s interest rate decision. Further, FIIs have remained net sellers (Rs.5500crs) in December so far (baring one positive day) and added to the overall pressure in the market. Nifty has corrected by nearly 400 points (2%) after making a new high of 18,888 last week. We expect the consolidative mode to continue till key central banks like US Fed, ECB, BoE outcome next week. We expect weakness in tech stocks to continue on account of weak growth outlook, FMCG stocks are expected to do well on the back of fall in commodity prices and improving demand.
– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
A tepid start-off in the domestic market was flattened due to a recovery in banking, metals, and oil & gas, while continued selling in IT stocks weighed on the indices. Key inflation numbers are expected to soften from the previous month, owing to a moderation in food prices. Extending the stock market route, the global markets remained fragile as rate decisions by major central banks took centre stage.
– Vinod Nair, Head of Research at Geojit Financial
Rupee weakened 0.3% versus the U.S. dollar, and quoted at 82.53 per dollar as Asian currencies fell at the beginning of a week crowded with high-profile events, including a U.S. Federal Reserve meeting and domestic inflation data.
Closing Bell: Sensex, Nifty end lower after choppy session; LIC rises 4%; Infosys, Titan fall 1%
JP Power to sell its Jaypee Nigrie Cement Grinding Unit to Dalmia Cement for a consideration of Rs 250 crores.
Price as on 12 Dec, 2022 03:30 PM, Click on company names for their live prices.
Dalmia Bharat to buy Clinker, Cement and Power Plants from Jaiprakash Cement and its associate having total cement capacity of 9.4 MnT at an Enterprise Value of Rs 5,666 crore
Price as on 12 Dec, 2022 03:20 PM, Click on company names for their live prices.
IRFC to issue over 10-year bonds – traders
The company has invited coupon and commitment bids between 1030 IST and 1130 IST on Wednesday, they said.
The bonds are rated AAA by CARE, ICRA and CRISIL, and the issue will close for subscription on Friday.
Gold falls Rs 109; silver climbs Rs 934
Silver, however, climbed Rs 934 per kg to Rs 68,503 per kilogram.
“Gold prices traded lower on Monday amid a firmer dollar,” said Dilip Parmar, Research Analyst at HDFC Securities.
European shares fall on caution ahead of cenbanks’ rate decisions
The continent-wide STOXX 600 index was down 0.4% at 0805 GMT.
The index posted its first weekly drop after a seven-week rally on Friday, as fears of an impending global recession from aggressive rate hikes countered optimism around the easing of strict COVID-19 curbs in China.
Investor focus on Monday also turned to a surge in COVID-19 infections in China following loosening of the restrictions, with industrials and some China-exposed luxury firms such as LVMH and Hermes International among biggest drags on the STOXX 600.
Active Stocks
Price as on 12 Dec, 2022 02:45 PM, Click on company names for their live prices.
Mondelēz International expands partnership with HCL Tech to supercharge Digital Workplace Transformation
Price as on 12 Dec, 2022 02:33 PM, Click on company names for their live prices.
Yes Bank will receive Rs 5,100 cr from Carlyle Advent International this week: ET Now
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— ET NOW (@ETNOWlive) 1670832502000
Microsoft to buy 4% stake in London Stock Exchange: Agencies
As part of the deal, LSEG has made a contractual commitment for minimum cloud-related spend with Microsoft of $2.8 billion over the term of the partnership.
Microsoft said the basis of the partnership will be the digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud.
“The initial focus will be on delivering interoperability between LSEG Workspace and Microsoft Teams, Excel and PowerPoint with other Microsoft applications and a new version of LSEG’s Workspace,” the U.S. company said.
Abans Holdings IPO subscribed only 5% during the first three hours of the bidding
The company is selling its shares in the range of Rs 256-270 apiece between December 12-15, with a lot size of 55 shares. The issue comprises issuance of fresh shares worth Rs 102.6 crore and an offer for sale (OFS) of Rs 243 crore.
According to the data from BSE, the investors made bids for 5,78,325 equity shares or only five per cent compared to the 1,28,00,000 equity shares offered for the subscription by 1.10 pm on Monday, December 12.
Sensex down up to 200 pts
Titan, Bata India among top losers from Nifty Consumer Durables
Price as on 12 Dec, 2022 01:18 PM, Click on company names for their live prices.
Nifty IT, Consumer Durables under pressure
Investor network FAAD gets Sebi nod to launch Rs 300 cr fund
“FAAD has received the approval of SEBI for a Category 1 INR 300 cr Alternative Investment Fund ,” the statement said.
The angel network by FAAD was launched in 2019 which has invested over Rs 75 crore in over 60 startups across a multitude of technology sectors, with a minimum cheque size of USD 50,000 to USD 1 million.
Morgan Stanley to slash 2022 banker bonuses in Asia by up to half – sources
The scale of the cuts in Asia could be replicated in Morgan Stanley’s U.S. and European operations, and would be in contrast with 2021 when its top bankers earned up to 20% more in bonuses globally, said the sources.
Bonus payout discussions are currently underway at Morgan Stanley globally, they said.
A third person with knowledge of the matter said the bonus cuts in Asia for the bank are expected to be around 30% on average for all its investment banking teams and markets.
Japan’s Nikkei falls as tech stocks drag ahead of Fed meet
Tech and other so-called growth shares sagged after U.S. producer price data on Friday suggested inflation could prove more persistent than previously thought, ahead of a consumer price report on Tuesday and the Fed policy decision the following day.
However, Toshiba bucked the trend, rising almost 2% amid reports that Japan Industrial Partners has moved closer to securing bank financing for a buyout.
The Nikkei ended the day 0.21% lower at 27,842.33, after hitting its highest level since Dec. 2 on Friday
ONGC to invest Rs 2,150 crore on drilling 53 exploratory wells in Andhra Pradesh
Price as on 12 Dec, 2022 12:44 PM, Click on company names for their live prices.
Power demand growth to boost Coal India’s spot auctions, chairman says
An increase in spot auction sales, which offer higher margins than its mainstay long-term contracts, will help Coal India to build off its record profits from this year and maintain its rising share price, which has climbed 25% since April and outpaced a 5.9% rise in the broader Nifty index .
“I think in the first half, we have done a little over 30 million tonnes. In the next half, our e-auction sales may go up to 40 million tonnes,” Chairman Pramod Agrawal told Reuters in an interview at the company’s headquarters.
The state-run miner, which accounts for 80% of the country’s output of the fuel, typically supplies the bulk of its output to utilities as a part of long-term contracts.
Yes Bank will get Rs 5,100 crore from Carlyle, Advent International this week
#ETNOWExclusive | Yes Bank will get Rs 5,100 cr from Carlyle, Advent International this week @ankurmishrasays has… https://t.co/lsUufSdZa8
— ET NOW (@ETNOWlive) 1670828117000
PSP Projects receives work orders worth Rs 115.49 crores (excluding GST) in Institutional and Industrial categories.
Price as on 12 Dec, 2022 12:25 PM, Click on company names for their live prices.
Macrotech Developers approves offer price of Rs 1026 per share for QIP: Agencies
Price as on 12 Dec, 2022 12:20 PM, Click on company names for their live prices.
Stocks in news: HPCL
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— ET NOW (@ETNOWlive) 1670826490000
Share of Yes Bank rallied over 7% and touched a 52-week high of Rs 21.15 in Monday’s intraday trade on BSE after the private lender got RBI’s nod to raise capital from Carlyle, Verventa Holdings.
Price as on 12 Dec, 2022 11:51 AM, Click on company names for their live prices.
Dollar gains as inflation pressures persist; eyes on central bank meetings
The dollar climbed on Monday after data on Friday showed U.S. producer prices had risen more than expected last month, pointing to persistent inflationary pressures and a chance the Federal Reserve would keep interest rates higher for longer.The dollar rose 0.35% against the Japanese yen to 137.05. Against a basket of currencies, the U.S. dollar index eked out a 0.12% gain at 105.18.The euro was last 0.2% lower at $1.0509.Sterling fell 0.31% to $1.2229 in Asia trade on Monday, while the Aussie edged 0.34% lower to $0.6773.
Crypto Price Today: Bitcoin breached $17K; Dogecoin, Solana & Shiba Inu drop up to 9%
Active stocks in morning trade
Price as on 12 Dec, 2022 11:05 AM, Click on company names for their live prices.
Tata Group to open 100 exclusive Apple stores -Agencies
Indian salt-to-software conglomerate Tata Group plans to open 100 stores across the country that will only sell Apple Inc products, the Economic Times newspaper reported on Monday, citing two people aware of the matter.Tata Group’s Infiniti Retail, which runs the consumer electronics store chain Croma, will be an Apple-authorised reseller and set up stores at shopping malls, high-street and neighbourhood locations, the report said.
Stocks in news: Tracxn Technologies
#StocksInFocus | Tracxn Technologies: Advances for 3 consecutive sessions Recovers over 42% from record low Volume… https://t.co/NtOKnQQxXv
— ET NOW (@ETNOWlive) 1670821751000
Va Tech Wabag hits 52 week high intraday
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Va Tech Wabag secures Industrial Waste Water Treatment order in Romania worth about Rs 260 Crores (EUR 30 Million)
Price as on 12 Dec, 2022 10:18 AM, Click on company names for their live prices.
Sensex pares all losses, lands in green
Uniparts India makes a tepid D-st debut, lists at marginal discount
Uniparts India made a muted debut on Monday, listing at Rs 575 on BSE, a discount of 0.35% over its issue price of Rs 577 apiece.
U.S. equities ended mixed in a volatile trading session. The S&P 500 was off 0.1%, Dow Jones fell 0.6%, while the tech-heavy Nasdaq Composite Index gained 0.1%. The yield on the benchmark 10-year Treasury fell to 3.525%, from 3.699% Wednesday. US consumer spending increased by 0.8% in October, the strongest gain since June. Households spent more on essentials such as rent and food, and new vehicles. Adjusted for inflation, spending rose 0.5%, the biggest increase since January. But the personal-saving rate, hit its lowest level since 2005, a sign that rising prices are squeezing household budgets. Domestic equities closed higher with Nifty gaining 0.3%, while broader markets outperformed the main indices as Nifty Mid Cap and Nifty Small Cap rose 0.9% and 0.4% respectively. Most sectoral indices ended in green. Nifty IT gained the most at 2.4% followed by Nifty PSU Bank and Nifty Media which were up ~2.1% each. Nifty FMCG (-0.4%) and Nifty Oil & Gas (-0.6%) were the major laggards. The unemployment rate in India surged to 8% in Nov ‘22 from 7.7% in Oct ‘22 on account of a significant increase in unemployment in urban India (7.21% in Oct ‘22 to 8.96% in Nov ‘22). However, unemployment rate in rural India fell to 7.55% compared to 8.04% last month. Moreover, RBI’s rate-panel is expected to increase repo rates by 25-35bps in its meeting from 5-7 Dec ‘22. The recent labour data and relatively lower inflation print will reinforce expectations for a smaller 50 bps Fed rate hike on Dec. 14 and perhaps signal a further slowing in the pace of rate increases early next year. The run-up to the exercise for the Budget is building up with job creation and a step-up in government capex, being the primary focus. We expect a recovery in the coming quarters led by softening of commodity prices and monetary easing by central banks which is likely to boost demand going ahead. The movement of rupee, FII flow and crude oil prices will dictate trend in the near term, while volatility is likely to remain due to endless Russia-Ukraine crisis and new COVID cases in China. The markets are likely to see gap up opening; SGX nifty is up 100 points compared to previous spot Nifty closing. Asian Markets are trading mixed; Nikkei is down 1.9% while Heng Seng is up 0.23%.
– Mitul Shah Head of Research – Institutional Desk Reliance Securities
Paytm: Oct-Nov loan disbursements at Rs 6,290 cr, up 374% YoY. (From Agencies)
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— ET NOW (@ETNOWlive) 1670816188000
MTAR Technologies signs MOU with Indian National Space Promotion and Authorization Centre (IN- SPACe) to design and develop two Stageto low Earth orbit all liquid small satellite launch Vehicle.
Price as on 12 Dec, 2022 09:28 AM, Click on company names for their live prices.
Opening Movers
Price as on 12 Dec, 2022 09:24 AM, Click on company names for their live prices.
Heatmap: 25 out of 30 stocks open in the red
Opening Bell: Sensex tumbles over 400 pts; Nifty drops below 18,400; Infosys, HCL Tech fall up to 2%
Rupee Opens
The domestic currency appreciated against the US dollar. It opened at 82.61/USD.
Market Pre-Open
Sensex, Nifty tumble nearly 1% in pre-open session
Asian shares dip, dollar firms ahead of central bank rate hikes
Asian shares dipped on Monday while the dollar drifted higher at the start of a hectic week, as markets awaited a flurry of rate decisions from the U.S. Federal Reserve, the European Central Bank and others.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 43.5 points, or 0.23 per cent, lower at 18,547.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty charts hint at rise in pessimism.
Headline equity index Nifty today formed a long negative candle on the daily chart with minor lower shadow, indicating downside breakout of the range-bound movement of the last few sessions. Analysts fear more weakness in the short term.
Tokyo stocks open lower with eyes on US Fed move
Tokyo stocks opened lower on Monday, tracking Wall Street falls, as stronger-than-expected US data triggered renewed fears that the Federal Reserve will continue to aggressively counter inflation. The benchmark Nikkei 225 index was down 0.57 percent, or 157.71 points, at 27,743.30 in early trade, while the broader Topix index was down 0.46 percent, or 8.93 points, at 1,952.63.
US stocks end in the red on fears of further rate hikes
US stocks tumbled Friday as stronger-than-expected wholesale prices triggered renewed jitters that the Federal Reserve would press on with an aggressive stance to counter inflation.
Oil prices climb on uncertainty over Keystone pipeline restart
Oil prices rose more than 1% in early Asian trade on Monday as a key Canada-United States crude pipeline stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation against a Western price cap on Russian oil exports.
Rupee rises 10 paise to 82.28 against US dollar
The rupee appreciated by 10 paise to close at 82.28 against the US dollar on Friday, tracking the weakening of the American currency in the overseas market. Forex traders said muted domestic equities and foreign fund outflows weighed on investor sentiments and restricted the gains.
Sensex, Nifty on Friday
Slipping below the support level of 18,500 points, the Nifty 50 settled 0.6% down at 18,496. The BSE Sensex closed 0.6% lower at 62,181 points.
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