Sensex, Nifty Recoup Most Of Weekly Losses In Friday Rally  

Indian equity benchmarks halted a three-day losing streak and erased most of weekly losses with just today’s rally.

The S&P BSE Sensex rose 1 percent to close at 41,575.14 and the NSE Nifty 50 rose 0.98 percent to end at 12,245.80. The broader markets represented by the NSE Nifty 500 Index rose 0.93 percent.

The market breadth was tilted in favour of buyers. About 1,116 stocks advanced and 678 shares declined on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 2.9 percent advance.

ICICI Securities

• Shares of ICICI Securities rose as much as 14.3 percent to Rs 415.80, the heist since May 2018.
• The stock was the best performer on NSE Nifty 500 Index.

HG Infra Engineering

• Stock rose as much as 10.9 percent, the most since Nov. 15, 2019, to Rs 269.80.
• Declared L-1 Bidder for HAM Project in Haryana for worth Rs 372.1 crore.

PVR

• Stock rose as much as 3.7 percent to Rs 1,889.
• Fresh longs seen with high open interest of 26 percent.
• Trading volume was three times its 20-day average.

Indian Overseas Bank

• Stock rose as much as 13.7 percent to Rs 12.85.
• Government infuses Rs 4360 crore via preferential allotment.

Federal-Mogul Goetze India

• Stock rose as much as 1.4 percent to Rs 662.90.
• Trading volume was 17 times its 20-day average.

Bank of Maharashtra

• Stock swung from a gain of as much as 5.3 percent to fall as much as 4.9 percent.
• Trading volume was seven times its 20-day average.

Stocks climbed worldwide and propelled global benchmarks to fresh records on Friday as robust gains in tech shares make 2019 a year to remember for risk assets.

• The Stoxx Europe 600 Index advanced 0.2 percent.
• Futures on the S&P 500 Index climbed 0.2 percent.
• The U.K.’s FTSE 100 Index gained 0.3 percent.
• The MSCI Asia Pacific Index jumped 0.5 percent.

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Source: Bloomberg

Shares of Sical Logistics hit their lower circuit of 5 percent at Rs 16.25.

The company said that they would default on payment of non-convertible debentures interest worth Rs 5.5 crore falling due on Dec. 27, due to a cash flow mismatch.

Of the shares traded, 12 percent were at the ask price and 85 percent were at the bid, Bloomberg data showed.

Shares of HG Infra Engineering rose as much as 10.9 percent, the most since Nov. 15, 2019, to Rs 269.80.

The company was declared L-1 Bidder for HAM Project in Haryana for worth Rs 372.1 crore.

The stock returned 12 percent in the past five days and 5.5 percent in the past 30 days, according to Bloomberg data.

Shares of Reliance Capital hit their lower circuit of 5 percent at Rs 14.80. The stock halted its four-day gaining streak.

The stock declined 94 percent in the past 12 months compared to a 16 percent gain in the Sensex.

Shares of KPIT Technologies halted their two-day losing streak and rose as much s 5.8 percent to Rs 94.

The analyst consensus price target tracked by Bloomberg is 31.6 percent higher than the current market price. The scrip traded at 16 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of Minda Corporation extended gains for the second consecutive trading session. The stock rose as much as 7.9 percent to Rs 104.15.

The scrip advanced 15 percent in two days. Trading volume was 12 times its 20-day average, according to Bloomberg data.

The stock returned 12 percent in the past five days and 13 percent in the past 30 days.

Shares Kaveri Seed Company rose as much as 13.6 percent, the most since May 2016, to Rs 543.

Trading volume was more than 20 times its 20-day average, according to Bloomberg data. Of the shares traded, 41 percent were at the ask price and 40 percent were at the bid.

The scrip traded at 15 times its estimated earnings per share for the coming year, Bloomberg data showed. The stock declined 8 percent n the past 12 months compared to a 16 percent gain in the Sensex.

Shares of the Rane Group companies extended rally for the second consecutive trading session.

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 3.3 percent rally. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.03 percent.

Indian equity benchmarks extended opening gains.

The S&P BSE Sensex rose 0.6 percent to 41,414 and the NSE Nifty 50 rose 0.64 percent to 12,202. The broader markets represented by the NSE Nifty 500 Index rose 0.62 percent.

Shares of ICICI Securities rose as much as 14.3 percent to Rs 415.80, the heist since May 2018.

Trading volume was more than 20 times its 20-day average, according to Bloomberg data. The Relative Strength Index was above 70, indicating that the stock may be overbought.

The stock advanced 55 percent in the past 12 months compared to a 16 percent gain in the Sensex.

Nifty’s 12,200 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire Jan. 2, rose 52.88 percent to Rs 54.35. Over 4.07 lakh shares were added to the open interest which stood at over 19.17 lakh shares.

Shares of SpiceJet extended gains for the third consecutive trading session. The stock rose as much as 6.6 percent to Rs 102.60.

The scrip advanced 9 percent in three trading sessions. Trading volume was more than two times its 20-day average, Bloomberg data showed. Of the shares traded today, 51 percent were at the ask price and 32 percent were at the bid.

Shares of CARE Ratings rose as much as 3.5 percent to Rs 527. while shares of ICRA swung from a fall of as much as 3.6 percent to traded little changed at Rs 2,801.05.

The market regulator imposed a Rs 25 lakh-penalty for their failure to exercise skill, care and due diligence in rating the non-convertible debentures of Infrastructure Leasing & Financial Services Ltd. and its non-bank lending unit.

Shares of Allahabad Bank rose as much as 10.9 percent, the most in over four months, to Rs 19.70.

The lender received fresh capital of Rs 2,153 crore from the government.

Trading volume was more than 20 times its 20day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold.

Indian equity benchmarks opened higher after declining for three consecutive trading sessions.

The S&P BSE Sensex rose 0.36 percent to 41,312.61 and the NSE Nifty 50 rose 0.39 percent to 12,174. The broader markets represented by the NSE Nifty 500 Index rose 0.37 percent.

The market breadth was tilted in favour of buyers. About 918 stocks advanced and 453 shares declined on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 1.4 percent advance.

Index Futures

• Nifty Jan futures closed at 12,195.7, premium of 69 points.
• Nifty futures open interest across series up 9 percent, adds 13.8 lakh shares in open interest.
• Nifty Bank Jan futures closed at 32,186, premium of 188 points.
• Nifty Bank futures open interest across series down 11 percent, sheds 2 lakh shares in open interest.
• Rollovers –Nifty 70 percent, Nifty Bank 78 percent.

Options

• Nifty PCR at 1.30 Vs 1.47 (across all series).

Nifty Monthly Expiry: Jan. 2

• Max open interest on call side at 12,200 (15 lakh shares).
• Max open interest on put side at 12,000 (11.7 lakh shares).
• open interest addition seen at 12,220C (+12.2 lakh shares), 12,300C (+6.5 lakh shares), 12,000P (4.5 lakh shares).

Nifty Monthly Expiry: Jan. 30

• Max open interest on call side at 12,200 (16.5 lakh shares).
• Max open interest on put side at 12,000 (26.7 lakh shares).

• Eris Lifesciences to meet Antique Stock Broking on Dec. 27.
• Torrent Power to meet Franklin Templeton Investment and Tata MF on Dec. 27.
• Allcargo Logistics to meet Philip Capital and BoB Capital Markets from Dec. 27-30.
• Mahindra Logistics to meet Templeton AMC on Dec. 30.

• Dishman Carbogen Amcis, Mercator, Monnet Ispat & Energy, Oil Country Tubular, Rama Steel Tubes to move into short term ASM Framework.
• Arvind Fashions, BGR Energy Systems, Viji Finance to move out of short term ASM Framework.
• Oil Country Tubular, Monnet Ispat & Energy, Igarashi Motors, Birla Precision Technologies price band revised to 10 percent.

Indian equity benchmarks are set to open higher.

The S&P BSE Sensex rose 0.2 percent to 41,272 during the pre-market trade and the NSE Nifty 50 rose 0.43 percent to 12,179.75.

• CARE Ratings, ICRA: The market regulator imposed a Rs 25 lakh-penalty for their failure to exercise skill, care and due diligence in rating the non-convertible debentures of Infrastructure Leasing & Financial Services Ltd. and its non-bank lending unit. “Brazen failure” of the credit rating agencies clearly defeated the objective of investor protection and orderly development of securities market, the Securities and Exchange Board of India said in an order. It concluded that CARE and ICRA violated the provisions of SEBI Act, 1992, and the its code of conduct.
• HG Infra Engineering was declared L-1 Bidder for HAM Project in Haryana for worth Rs 372.1 crore.
• Adani Ports & SEZ: Life Insurance Corporation of India increased stake in the company to 11.82 percent from 9.82 percent between Dec. 8-23.
• Allahabad Bank: Receives fresh capital of Rs 2,153 crore from the government.
• Hindustan Aeronautics: CARE Ratings downgraded long-term banking facilities worth Rs 7,300 crore to ‘AA+’ from ‘AAA’ with outlook unchanged at ‘Stable’.
• Sical Logistics said that the company would default on payment of non-convertible debentures interest worth Rs 5.5 crore falling due on Dec. 27, due to a cash flow mismatch.
• Punjab National Bank allotted bonds worth Rs 1,500 crore on a private placement basis.
• Future Consumer said 91.9 percent promoters stake is encumbered. Promoters have a 46.29 percent stake in the company.
• GPT Infraprojects: CARE Ratings downgraded long-term banking facilities worth Rs 554.21 crore to ‘BBB-’ from ‘BBB’ with outlook unchanged at ‘Stable’.
• Simplex Infra defaulted on payment of NCDs interest worth Rs 4.85 crore which was due to Dec. 26, due short-term temporary liquidity crisis, according to Bloomberg report.
• IFGL Refractories: Sikandar Yadav to resign as chief financial officer with effect from Jan. 14.

• RBI to announce weekly foreign-exchange, bank credit data.

• Gains in technology shares sent the Nasdaq Composite Index above 9,000 for the first time. Amazon.com Inc. was among the top equity performers after the e-commerce giant reported a “record breaking” holiday season. European markets remained shuttered.
• Oil advanced in light trading, with prices set for the biggest monthly gain in almost a year on speculation that supplies are shrinking.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.28 percent to 12,227.50 s of 8:10 a.m.

Asian stocks were mixed on Friday after technology shares propelled U.S. benchmarks to fresh record highs.

South Korea’s Kospi sank at the open as a number of companies traded without the right to the next dividend payment, though it bounced back later. Ex-dividend trading also held back Japanese stocks. Australian equities edged up, while Hong Kong and Shanghai opened higher. U.S. futures were little changed.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.