Sensex, Nifty End Mixed On A Volatile Day As ICICI Bank’s Losses Offset Gains In HDFC Bank

Indian equity benchmarks ended mixed after a topsy-turvy session as gains in HDFC Bank Ltd. were offset by losses in ICICI Bank Ltd.

The S&P BSE Sensex fell 0.04 percent to close at 41,558 while the NSE Nifty 50 rose 0.08 percent to 12,255.85. The broader markets represented by the NSE Nifty 500 Index rose 0.16 percent.

The market breadth was tilted in favour of buyers. About 1,075 stocks advanced and 747 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Auto Index’s 1.5 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 1.2 percent.

ICICI Securities

• Stock swung from a gain of as much as 5.9 percent to fall as much as 6.3 percent.
• Trading volume was almost 13 times its 20-day average.

Federal-Mogul Goetze

• Stock rose as much as 1.1 percent to Rs 664.80.
• Trading volume was more than eight times its 20-day average.

GE Power India

• Stock rose as much as 3.5 percent to Rs 745.
• Trading volume was more than nine times its 20-day average.

Vaibhav Global

• Stock rose as much as 2.6 percent to Rs 829.50.
• Trading volume was more than seven times its 20-day average.

Balaji Amines

• Stock rose as much as 15.1 percent, the most since Nov. 7, 2019, to Rs 416.70, the highest since May 29, 2019.
• Brokerage and research firm HDFC securities recommended investors to buy at Rs 362 and has a target of Rs. 398.50-445.50 in the next 12 months.

Essel Propack

• Stock extended gains for the second consecutive trading session. The stock rose as much as 7.7 percent to hit an all-time high at Rs 185.70.
• The stock returned 70 percent in the past 12 months.

Mindtree

• Stock rose as much as 2.6 percent to Rs 807.
• Fresh longs seen with high open interest of 31 percent.
• Trading volume was 1.5 times its 10-day average.

Rites

• Stock rose as much as 3 percent to Rs 294.
• Board approved to acquire 24 percent stake in IESDC for Rs 48 crore.
• Declared interim dividend of Rs 6.

• Balrampur Chini: About 23 lakh shares of the company changed hands in a large trade.
• Dish TV: About 2.48 crore shares of the company changed hands in a large trade.

Buyers and sellers were not known immediately.
Source: Bloomberg

Shares of Essel Propack extended gains for the second consecutive trading session. The stock rose as much as 7.7 percent to hit an all-time high at Rs 185.70.

The stock returned 70 percent in the past 12 months. The Relative Strength Index was above 70, indicating that the stock may be overbought, according to Bloomberg data.

Shares of SpiceJet rose 6.3 percent to Rs 110.25. The stock had risen as much as 14.8 percent earlier.

Trading volume was 10 times its 20-day average, according to Bloomberg data. Of the shares traded, 44 percent were at the ask price and 46 percent were at the bid.

The stock had declined 25 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Shares of Balaji Amines rose as much as 15.1 percent, the most since Nov. 7, 2019, to Rs 416.70, the highest since May 29, 2019.

Brokerage and research firm HDFC securities recommended investors to buy at Rs 362 and has a target of Rs. 398.50-445.50 in the next 12 months.

Trading volume was 40 times its 20-day average, Bloomberg data showed. The stock advanced 19 percent in the past five days and 12 percent in the past 30 days.

European and U.S. equity futures saw muted moves on Monday following a mixed session in Asia

• S&P 500 futures rose 0.1 percent.
• Euro Stoxx 50 futures fell 0.2 percent.
• Japan’s Topix index fell 0.7 percent.
• Hong Kong’s Hang Seng Index was up 0.3 percent.
• The Shanghai Composite Index rose 1.2 percent.

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Source: Bloomberg

Shares of JSW Steel fluctuated between gains and losses to traded little changed at 268.85.

The company's Netherlands-based subsidiary will offload 39 percent stake in joint venture firm Geo Steel LLC for $23.08 million.

The stock traded 16 times its estimated earnings per share for the coming year, according to Bloomberg data.

Six out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 1.6 percent fall. On the flipside, the NSE Nifty Auto Index was the top sectoral gainer, up 0.56 percent.

Indian equity benchmarks erased opening gains.

The S&P BSE Sensex fell 0.15 percent to 41,511 and the NSE Nifty 50 fell 0.12 percent to 12,231.65. The broader markets represented by the NSE Nifty 500 Index fell 0.07 percent.

Shares of Nava Bharat Ventures halted their two-day losing streak. The stock rose as much as 13.5 percent to Rs 75.70.

Trading volume was almost four times its 20-day average, Bloomberg data showed. The scrip traded at 3.2 times its estimated earnings per share for the coming year.

Nifty’s 12,300 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Jan. 2, rose 13.92 percent to Rs 37.65. Over 9.62 lakh shares were added to the open interest which stood at over 26.10 lakh shares.

Shares of Suzlon Energy extended declines for the second consecutive trading session. The stock fell as much as 7.7 percent, the most since Nov. 15, to hit a new all-time low at Rs 1.80.

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

Shares of Vodafone Idea halted their five-day losing streak. The stock rose as much as 9.5 percent, the most since Dec. 4, to Rs 6.35.

Of the shares traded, 53 percent were at the ask price and 46 percent were at the bid, according to Bloomberg data. The scrip declined 11 percent in the past five days and 15 percent in the past 30 days.

Shares of Adani Ports and Special Economic Zone rose as much as 2 percent to Rs 371. The stock was the best performer on the Nifty Index.

The Adani Group acquired majority stake in Snowman Logistics for Rs 296 crore to foray into cold chain logistics.

“Adani Logistics, a wholly owned subsidiary of Adani Ports and Special Economic Zone, signed definitive agreements to acquire 40.25 percent stake in Snowman Logistics from Gateway Distriparks,” the company said in a statement.

Besides, Adani Logistics will make a mandatory open offer at Rs 44 apiece under SEBI’s takeover norms for a maximum 26 percent of the public shareholding in the Snowman, according to a separate exchange filing. The acquisition, subject to customary condition precedents, is expected to close by March 31, 2020.

Indian equity benchmarks opened higher, extended gains for the second consecutive trading session.

The S&P BSE Sensex rose 0.19 percent to 41,663 and the NSE Nifty 50 rose 0.2 percent to 12,272. The broader markets represented by the NSE Nifty 500 Index rose 0.25 percent.

The market breadth was tilted in favour of buyers. About 869 stocks advanced and 482 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Pharma Index’s 0.51 percent advance. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.08 percent.

Index Futures

• Nifty January futures closed at 12,319.2, premium of 73.4 points
• Nifty January futures open interest up 7 percent, adds 8.3 lakh shares in open interest
• Nifty Bank January futures closed at 32,604.7, premium of 192.4 points
• Nifty Bank January futures open interest up 24 percent, adds 2.9 lakh shares in open interest

Options

• Nifty PCR at 1.45 Vs 1.30 (across all series)

Nifty Monthly Expiry: Jan. 2

• Max open interest on call side at 12,300 (16.4 lakh shares)
• Max open interest on put side at 12,200 (27 lakh shares )
• open interest addition seen at 12,220P (+18.9 lakh shares), 12,250P (+7.8 lakh shares), 12,300C (3.9 lakh shares)

Nifty Monthly Expiry: Jan. 30

• Max open interest on call side at 12,500 (19.2 lakh shares)
• Max open interest on put side at 12,000 (34 lakh shares)

• Navneet Education promoter Shaan Realtors acquired 1.8 lakh shares on Dec. 24.
• Filatex India promoters acquired 3.25 lakh shares from Dec. 17-20.
• Max Ventures and Industries promoter Analjit Singh acquired 1.3 lakh shares from Dec. 23-24.
• Satin Creditcare Network promoter Trishashna Holdings acquired 1 lakh shares on Dec. 26.

• Care Ratings to meet BNP Paribas on Dec. 30.
• Mahindra Lifespace Developers to meet SKS Capital Research and Verba Financial on Jan. 3.
• Eris Lifesciences to meet Kotak Offshore Fund on Dec. 30.
• Torrent Power to meet Kotak Offshore Fund on Dec. 30.
• Mahindra Logistics to meet Sundaram MF on Dec. 30.

• Jindal Polyfilms ex-date for spin-off (demerger).
• Piramal Enterprises ex-date for rights issue at 11:83 at premium of Rs 1298 per share.
• Sundaram Brake Linings, Rane (Madras), Rane Brake Lining, Rane Engine Valve, PG Electroplast, Waa Solar price band revised to 10 percent.
• Birla Precision Technologies, Toyam Industries, Uniply Decor, Sundaram Brake Linings, GTL Infrastructure to move into short term ASM Framework.
• Advance Metering Technology, Vishwaraj Sugar Industries to move out of short term ASM Framework.
• Gini Si lakhMills, Refex Industries to move out of ASM Framework.

• Prince Pipes & Fittings’ shares to start trading on the exchanges after the IPO received 2.2 times demand at Rs 178 apiece.

The Indian rupee opened marginally lower against the U.S. dollar. The home currency depreciated as much as 0.04 percent to 71.38 against the greenback.

Indian equity benchmarks are set to open lower.

The S&P BSE Sensex rose 0.12 percent to 41,626.05 during the pre-market trade and the NSE Nifty 50 rose 0.44 percent to 12,300.15.

• Gateway Distriparks Adani Logistics Ltd., a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd., signed definitive agreements to acquire 40.25 percent stake in Snowman Logistics from the company, the company said in a statement.
• JSW Steel: The company's Netherlands-based subsidiary will offload 39 percent stake in joint venture firm Geo Steel LLC for $23.08 million.
• Gujarat Narmada Valley Fertilizers & Chemicals has advanced its planned shutdown by around three weeks after temporarily suspending the production of TDI at its TDI-II plant at Dahej. The said plant will remain under shutdown from Dec. 27- Jan. 15 due to challenging external environment and market conditions of TDI.
• BEML signed a memorandum of understanding with Ircon International to explore and address opportunities in the overseas market for large infrastructure projects in the transportation sector. This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as construction equipment for Railway projects outside India wherein Ircon will carry out civil and construction work as well as facilitate design validation for rolling stock of BEML.
• Rites: Board declared interim dividend of Rs 6 per share and fixed the record date fixed on Jan. 10. Besides, the board also approved to acquire 24 percent stake in Indian Railway Station Development Corporation for Rs 48 crore.
• Sun Pharma: The National Company Law Tribunal has blocked scheme of arrangement between the company and its U.S. and Netherlands units. The company is reviewing the order in detail and the scheme is an internal restructuring exercise.
• Tata Global Beverages said that date of reviewing terms of joint venture with PepsiCo has been extended from Dec. 31 to June 30.
• SRF said that demand raised by Collector of Stamps amounting to Rs 29 crore in relation to acquisition of captioned division from CEAT, has been paid in the current quarter. This adjustment was already provided for in the second quarter of the current financial year.
• SBI Life Insurance: Statutory Auditor GMJ and Co resigned, as on the senior partners has been nominated by the Central Government as a non-official director on the Central Board of State Bank of India.
• Cadila Healthcare clarified that the company has no plans of selling the company’s two divisions.
• IIFL Wealth Management: IIFL Wealth Advisors amalgamation scheme with the company has become effective from Dec. 27.
• Allahabad Bank has raised Tier 2 Capital fund via bonds aggregating to Rs 1500 crore.
• Seamec: Contract with ONGC for deployment of a vessel has been extended till May 3, 2020.
• Quess Corp: Aditya Birla Sun Life MF increased stake from 1.5 percent to 5.55 percent in the company as the result of the demerger.
• Piramal Enterprises Board approved issue of non-convertible debentures worth Rs 2,750 crore. NCDs will be issued in one or more tranches.

• The Reserve Bank of India will conduct the second round of government bond purchases and sales as part of its open market operations at the end of this month to boost liquidity and ease borrowing conditions. On Dec. 30, RBI will buy Rs 10,000 crore worth of 6.45 percent government securities maturing in 2029.

• The S&P 500 notched a fifth straight weekly advance and the Nasdaq Composite jumped above 9,000. Blue-chip companies led the Dow Jones Industrial Average to a record high.
• Oil posted the longest run of weekly gains since April as prices followed equities higher and a government report showed U.S. crude inventories falling to the lowest in two months.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.09 percent to 12,330.

Asian stocks drifted lower on Monday from the highest level in a year and a half, with few financial-market catalysts going into the year-end.

Equities in Tokyo, Sydney and Shanghai fell, while they opened little changed in Hong Kong. U.S. futures edged up.

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