All You Need To Know Going Into Trade On December 30
Asian markets have slipped in mid-week trade after U.S. equities staged a pullback from their record highs overnight.
Benchmark indices in Japan, Australia and South Korea are trading with losses this morning. Sentiment was hit after senate republicans blocked an attempt by the democrats to increase direct payments to individuals to $2,000 from $600.
The U.S. Dollar weakened, treasuries edged higher while oil prices were steady.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 13,974 as of 6:55 a.m.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Let’s take a look at the factors that may influence equities in today’s session:
- Futures on the Dow Jones are fluctuating between gains and losses. The index ended 0.2% lower on Tuesday. However, a gauge of smallcap shares in the U.S. fell nearly 2%.
- The MSCI AC World Index of global stocks is set to end the year with gains of almost 14%, after having surged close to 68% from its March low.
- U.S. President-elect Joe Biden criticized vaccine-distribution efforts under President Trump as too slow, while the U.S. top infectious-disease doctor Anthony Fauci told CNN that officials had hoped to have more people vaccinated by now.
- Yield on the 10-year treasuries stood at 0.93%.
- West Texas Intermediate crude rose 0.2% to $48.07 per barrel.
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Stocks To Watch
- Jindal Stainless Limited: The Board of Directors of Jindal Stainless and Jindal Stainless (Hisar) (JSHL) have approved the merger of Jindal Stainless (Hisar) into Jindal Stainless. As per the approved share swap ratio, 195 equity shares of Jindal Stainless will be issued for every 100 equity shares of Jindal Stainless (Hisar). With the appointed date of April 1, 2020, the merger process is expected to be completed in H2 FY22. Merged entity to have stainless steel melt production capacity of 1.9 Million Tonnes Per Annum. The merger will also induce a simplified capital structure, expanding the turnover of the merged business to Rs 20,000 crore.
- Jindal Steel & Power: Indian Railways has awarded Regular Supplier status to the company for 60 kg 880 grade (90UTS) Rails. With this, Indian Railways, its subsidiary and track laying contractors can source 60kg 880 grade (90UTS) Rails manufactured by JSPL and utilise them for their ongoing and upcoming projects.
- UPL: Has completed the pre-payment worth $410 million of 3.25% Senior Notes due October 2021. The pre-payment, which concluded on December 28, 2020, was done using the cash on its balance sheet. This prepayment is in line with its commitment to reduce debt.
- Sadbhav Engineering: A meeting of equity shareholders to be held on January 29, 2021 to consider and approve the Scheme of Amalgamation of Sadbhav Infrastructure Project with Sadbhav Engineering and their respective Shareholders and Creditors.
- NLC India: Has issued and allotted 10,000 Commercial Papers of face value of Rs 5 lakh each, aggregating to Rs 500 crore.
- APL Apollo Tubes: CARE Ratings has revised the credit rating of long-term bank facilities of the company to AA-/Stable and has reaffirmed the credit rating of short-term bank facilities at A1+.
- Gujarat State Fertilisers & Chemicals: India Ratings and Research has affirmed the rating of AA+ on long-term bank facilities and the rating of A1+ on short-term bank facilities of the company.
- Torrent Pharmaceuticals: The company has redeemed and repaid secured NCDs of Rs 166.70 crore out of the total NCDs of Rs 500 crore on December 29.
Pledge Share Details
- Adani Enterprises: Promoters Gautam Adani and Rajesh Adani revoked pledge of 20 lakh shares on December 28.
- Adani Transmission: Promoters Gautam Adani and Rajesh Adani revoked pledge of 44.35 lakh shares on December 28.
- Jindal Steel & Power: Promoter OPJ Trading created pledge of 25.61 lakh shares on December 22.
- Emami: Promoter Diwakar Viniyog revoked pledge of 4.15 lakh shares on December 24.
- Max Financial Services: Promoter Max Ventures Investment revoked pledge of 37,499 shares on December 24.
As Reported On December 29.
- AGC Networks: Ebony Advisors LLP bought 2.50 lakh shares (0.84%) at Rs 764.13 per share. Ncube Ventures LLP sold 2.50 lakh shares (0.84%) at Rs 764.13 per share.
- Snowman Logistics: Adani Logistics sold 80.05 lakh shares (4.8%) at Rs 61.82 per share.
- Acrysil: Everest Finance And Investment Company sold 2.48 lakh shares (0.93%) at Rs 186.60 per share.
- CARE Ratings: FPA Global Opportunity Fund A Series Fund of FPA Hawkeye Fund LLC sold 9.97 lakh shares (3.39%) at Rs 521.08 per share. Phaeacian Accent International Value Fund bought 9.97 lakh shares (3.39%) at Rs 521.08 per share.
Who’s Meeting Whom
- Tata Steel: To meet SBI Life Insurance on December 31.
- Price Band Revised From 10% To 5%: Borosil, Firstsource Solutions, Xelpmoc Design And Tech.
- Price Band Revised From 20% To 10%: Fineotex Chemical, HBL Power Systems, Paisalo Digital.
- Move In To Short-term ASM Framework: Paisalo Digital.
- Move Out Of Short-term ASM Framework: Varroc Engineering, Borosil Renewables, Edelweiss Financial Services.
- Move In To ASM Framework: Firstsource Solutions.
- Indus Towers: Promoter Nettle Infrastructure Investments acquired 17.46 lakh shares on December 28.
- Satia Industries: Promoter Chirag Satia acquired 40,000 shares on December 28.
- Mangalam Cement: Promoter Rambara Trading acquired 1 lakh shares between December 28-29.
- Ganesha Ecosphere: Promoter Seema Sharma acquired 7,383 shares between December 22-28.
- Lincoln Pharma: Promoters Munjal Patel and Kailashben Patel acquired 1 lakh shares between December 28-29.
As Reported On December 29.
Money Market Update
- The rupee gained for the third straight day on Tuesday, ending at 73.42 against the U.S. Dollar, as compared to Monday's close of 73.51.
- Nifty December futures ended at 11,932; premium flat
- Nifty December futures shed 11.9% and 11.2 lakh shares in Open Interest
- Nifty Bank December futures ended at 31,366; premium of 44 points
- Nifty Bank December futures shed 12.9% and 1.8 lakh shares in Open Interest
- Nifty Put-Call Ratio at 1.32
- Out of F&O Ban: Canara Bank
- Stocks In F&O Ban: Punjab National Bank, SAIL
Nifty: December 31 Expiry
- Maximum Open Interest on Call side at 14,000 strike (57.8 lakh shares)
- Maximum Open Interest on Put side at 13,000 strike (60.3 lakh shares)
- Active Options: 14,300 Call (+17.94 lakh shares) and 13,900 Put (+12.85 lakh shares)