Sensex, Nifty Second-Best Yearly Gains In Five Years

Indian equity benchmarks registered their second-best yearly gains in five years

The S&P BSE Sensex returned 14.3 percent in 2019 to close the year at 41,253 and the NSE Nifty 50 advanced 12.1 percent during the period to end at 12,176.30.

That comes as Indian stocks witnessed a roller-coaster ride in 2019 as uncertainties stemmed from the general election, a tax surcharge on the super rich and its partial rollback, a global trade war, a slowing economy and much more.

On Tuesday, the 30-share index fell 0.7 percent and the 50-stock gauge fell 0.65 percent. The 500-stock index 0.53 percent.

Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.5 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 0.7 percent.

Shares of Jubilant FoodWorks extended gains for the fourth consecutive trading session. The stock rose 2.3 percent to hit an all-time high at Rs 1,665.50.

EIH

• Stock fell as much as 1.4 percent to Rs 140.
• Trading volume was more than 20 times its 20-day average.

ICRA

• Stock rose as much as 10.2 percent to Rs 3,224.
• Trading volume was more than 11 times its 20-day average.

CRISIL

• Stock rose as much as 8.5 percent to Rs 1,975.
• Trading volume was almost 12 times its 20-day average.

KNR Constructions

• Stock rose as much as 9.1 percent to Rs 256.50.
• Trading volume was almost eight times its 20-day average.

Care Ratings

• Shares extended gains for the sixth consecutive trading session. The stock rose as much as 19.6 percent, the most since December 2012, to Rs 648.
• Trading volume was 70 times its 20-day average, Bloomberg data showed.

Power Finance Corporation

• Stock rose as much as 4 percent to Rs 118.80.
• Fresh longs seen with high open interest of 11 percent.
• Trading volume was four times its 20-day average.

Chalet Hotels

• Stock rose as much as 12.9 percent to Rs 402.
• The company signed five new agreements with Marriott International for 1,500 plus keys in Luxury and Upper-Circle Hotel Tiers. The company will build hotels and extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad and Mumbai.

Kalpataru Power Transmission

• Stock rose as much as 2.4 percent to Rs 409.85.
• The company bagged orders worth Rs 979 crore, the manufacturer of transmission line towers said in a stock exchange filing.

Stocks in Asia drifted in thin trading on the last day of a year that has delivered spectacular returns across asset classes.

• Australia’s S&P/ASX 200 Index fell 1.8 percent.
• Hang Seng Index slipped 0.5 percent.
• Shanghai Composite Index was flat.
• S&P 500 futures drifted 0.1 percent higher.
• The S&P 500 Index fell 0.6 percent.

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Indian equity benchmarks traded lower, led by the fall in Reliance Industries Ltd. and HDFC Bank Ltd.

The S&P BSE Sensex fell 0.27 percent to 41,447 and the NSE Nifty 50 fell 0.25 percent to 12,225. The broader markets represented by the NSE Nifty 500 Index fell 0.13 percent.

Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Media Index’s 0.6 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral performer, up 0.52 percent.

Shares of CARE Ratings extended gains for the sixth consecutive trading session. The stock rose as much as 19.6 percent, the most since December 2012, to Rs 648.

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

Nifty’s 12,200 put 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 95.74 percent to Rs 34.45. Over 2.05 lakh shares were added to the open interest which stood at over 28.78 lakh shares.

Shares of Jet Airways resumed gains after a one-day blip. The stock hit an upper circuit of 5 percent at Rs 29.05.

The Hinduja Group is preparing a bid to buy grounded carrier, Bloomberg reported quoting people familiar with the matter.

“The U.K.-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the Jan. 15 deadline, signaling its intent to make a formal offer,” the report added quoting the people who requested anonymity as the deliberations are private.

Shares of Kalpataru Power Transmission rose as much as 2.4 percent to Rs 409.85.

The company bagged orders worth Rs 979 crore, the manufacturer of transmission line towers said in a stock exchange filing.

Of the shares traded, 46 percent were at the ask price and 45 percent were at the bid, according to Bloomberg data. The stock advanced 4.7 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Shares of Chalet Hotels extended gains for the fourth consecutive trading session and rose as much as 12.3 percent to hit an all-time high at Rs 402.

The company signed five new agreements with Marriott International for 1,500 plus keys in Luxury and Upper-Circle Hotel Tiers. The company will build hotels and extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad and Mumbai.

The stock traded at 59 times its estimated earnings per share for the coming year, according to Bloomberg data.

Indian equity benchmarks opened lower, led by the declines in HDFC twins.

The S&P BSE Sensex fell 0.15 percent to 41,490 and the NSE Nifty 50 fell 0.18 percent to 12,234. The broader markets represented by the NSE Nifty 500 Index fell 0.13 percent.

The market breadth, however, was tilted in favour of buyers. About 759 stocks advanced and 591 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 0.4 percent gain. On the flipside, the NSE Nifty FMCG Index was the top sectoral loser, down 0.14 percent.

Index Futures

• Nifty January futures closed at 12,329.3, premium of 73.5 points.
• Nifty January futures open interest down 0.5 percent, sheds 55,000 shares in open interest.
• Nifty Bank January futures closed at 32,554, premium of 199 points.
• Nifty Bank January futures open interest down 9 percent, sheds 1.3 lakh shares in open interest.

Options

• Nifty PCR at 1.39 versus 1.45 (across all series)

Nifty Monthly Expiry: Jan. 2

• Max open interest on call side at 12,300 (24 lakh shares).
• Max open interest on put side at 12,200 (26.7 lakh shares ).
• Open interest addition seen at 12,300C (+7.5 lakh shares), 12,250P (+6.2 lakh shares), 12,350C (5.9 lakh shares).

Nifty Monthly Expiry: Jan. 30

• Max open interest on call side at 12,500 (19.5 lakh shares)
• Max open interest on put side at 12,000 (34.5 lakh shares)

• Alembic promoter Nirayu acquired 55,000 shares from Dec. 26-27.
• Filatex India promoter Gunjan Bhageria acquired 2.15 lakh shares from Dec. 24-27.
• Max Ventures and Industries promoter Analjit Singh acquired 1.5 lakh shares from Dec. 26-27.
• Laurus Labs promoters sold 50,000 shares from Dec. 24-27.

• Mahindra Holidays & Resorts to meet Renaissance Investments on Dec. 31.

• Jindal Polyfilms record date for spin-off (demerger).
• Piramal Enterprises record date for rights issue at 11:83 at premium of Rs 1298 per share.
• Ingersoll Rand record date for special dividend payment (Rs 25 per share).
• PG Electroplast, Agro Phos Gujarat Themis Biosyn to move into short term ASM Framework.
• Godawari Power And Ispat, Lyka Labs to move out of short term ASM Framework.
• Choice International, Hisar Metal Industries price band revised to 10 percent.
• PMC Fincorp and 7NR Retail price band revised to 5 percent.

The Indian rupee fluctuated between gains and losses to trade little changed at 71.28 against the U.S. dollar.

Indian equity benchmarks are set to open higher.

The S&P BSE Sensex rose 0.27 percent to 41,657.22 during the pre-market trade and the NSE Nifty 50 rose 0.25 percent to 12,289.

• Dr. Reddy’s Laboratories launched Sodium Nitroprusside Injection single-dose vial in the U.S. Markets. The injection is a generic equivalent of Nitropress which is used to lower blood pressure.
• RBL Bank’s committee approved allotment of 1.98 crore shares worth Rs 675.8 crore to East Bridge Capital Master Fund, FEG Mauritius FPI, lshana Capital Master Fund and WF Asian Reconnaissance Fund. Allotment will be done at Rs 340.7 per share, which is at a discount of 1.2 percent to closing prices of Dec. 30.
• Jet Airways: The Hinduja Group is preparing a bid to buy grounded carrier, Bloomberg reported quoting people familiar with the matter. “The U.K.-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the Jan. 15 deadline, signaling its intent to make a formal offer,” the report added quoting the people who requested anonymity as the deliberations are private.
• Rattan India Power: Goldman Sachs and Varde Partners settled dues of the company under resolution process. Rs 6,575 crore worth debt settled at Rs 4,050 crore, while the resolution was completed outside insolvency framework. The company stated in its press release that while most deals in the power sector, resolved under the National Company Law Tribunal framework in the past have been settled at Rs. 1.2-1.5 crore per MW, this afore-mentioned transaction closed at Rs 3 crore per MW.
• Chalet Hotels entered into five new agreement with Marriott International for 1,500 plus keys in Luxury and Upper-Circle Hotel Tiers. The company would build hotels & extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad and Mumbai.
• HEG: Life Insurance Corporation of India reduced stake in the company from 8.9 percent to 6.85 percent.
• Gayatri Highways defaulted in payment of interest and principal for a term loan worth Rs 45.69 crore which was due on Nov. 29 to lender IL&FS Financial Services. The total amount of borrowings from financial institutions stand at Rs 100.69 crore.
• PTC India Financial Services received fresh sanction of fresh long-term loan of Rs 500 crore from Bank of India for a period of 10 years for lending to infra-projects and other operational requirements.
• Sintex Industries defaulted in payment of non-convertible debentures interest worth Rs 3.51 crore which were due on Dec. 30.
• Inox Leisure commenced operations of its 6-screen theatre in Lucknow.
• Indian Bank reduced MCLR rate by five basis points across various tenors to be effective from Jan. 3. One-month MCLR at 8 percent and one-year MCLR at 8.3 percent.
• Piramal Enterprises approved allotment of NCDs aggregating to Rs 1,600 crore.
• Emami promoters hold 52.74 percent stake in the company, out of which 71.6 percent stake is encumbered.
• Vardhman Industries effective date for implementation of resolution plan with JSW Steel set on Dec. 31.

TRAI October Data

• Reliance Jio added most subscribers despite price hikes in October.
• Jio added 1.44 crore active users – most in last three years.
• Airtel added 68.2 lakh active users – first time in last 12 months.
• Vodafone Idea lost 7.4 lakh active users – lowest in last 11 months.
• Vodafone Idea has been losing active users now for 18th consecutive month; it has lost close to 12 crore active users in last 18 months.

Active User Base Market Share:

• Bharti Airtel: 31.5 percent
• Reliance Jio: 31 percent
• Vodafone Idea: 30.8 percent

• India to release fiscal deficit for April-November period and eight core industries output data for November.

• Oil is on track for the biggest yearly gain since 2016 as declining U.S. crude stockpiles eased oversupply concerns, and heightened geopolitical risk gave the commodity a boost.
• U.S. stocks fell in light trading on the penultimate day of a blockbuster year for markets.
• European shares fell on Monday after a mixed session in Asia, with traders continuing to focus on developments in U.S.-China negotiations.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.3 percent to 12,287.50 as of 8:20 a.m.

Asian stocks drifted in thin trading on the last day of a year that has delivered spectacular returns across asset classes.

Equities in Sydney had the biggest decline, with volumes more than 30% below average. New Zealand ended down. Hong Kong and China shares were mixed. Several markets including Japan are closed for holidays, while some have shortened trading sessions. U.S. futures drifted higher.

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