Sensex, Nifty Halt Three-Day Gaining Streak As RIL, ITC Drag

Indian equity benchmarks halted a three-day winning streak, led by the declines in Reliance Industries Ltd. and ITC. Ltd.

The S&P BSE Sensex fell 0.17 percent to end at 40,938.72 and the NSE Nifty 50 fell 0.27 percent to 12,053.95. The broader markets represented by the NSE Nifty 500 Index fell 0.31 percent.

In the opening trade, the 31-share index had risen as much as 0.43 percent to hit an all-time high at 41,185.03. The NSE Nifty Bank, too, hit an all-time high at 32,186.95 after rising as much as 0.54 percent. It swung to fall as much as 0.36 percent thereafter and closed 0.13 percent lower.

The market breadth was tilted in favour of sellers. About 990 stocks declined and 807 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 1.4 percent fall. On the flipside, the NSE Nifty IT Index was the top sectoral gainer, up 0.97 percent.

Ashiana Housing

• Stock rose as much as 16.5 percent to Rs 104.
• Company sees booking of 244 units in Jamshedpur project. Around 3.5 lakh square feet of area has been booked.

Eris Lifesciences

• Stock rose as much as 5.1 percent to Rs 486.15.
• Company to proceed with the share-buyback at the earliest. Buyback was kept at hold due to change in buyback rules.
• Buyback price at Rs 575 per share, aggregating upto Rs 100 crore.

Indoco Remedies

• Stock rose as much as 6.5 percent to Rs 156.95.
• Receives EU GMP Certification from U.K.’s MHRA (Health Regulator)
• Certification is for sterile manufacturing facility in Goa

Ramco Systems

• Stock rose as much as 8.5 percent to Rs 147.
• Gets contract from China Aircraft Services for aviation management software.

Sheela Foam

• Stock swung from a gain of as much as 1.3 percent to fall as much as 1.2 percent.
• Trading volume was more than six times its 20-day average.

JM Financial

• Stock rose as much as 6 percent to Rs 96.80.
• Trading volume was more than six times its 20-day average.

Alkem Laboratories

• Stock rose as much as 1.2 percent to Rs 2,100.
• Trading volume was more than four times its 20-day average.

Sundaram-Clayton

• Stock swung from a gain of as much as 1 percent to fall as much as 1.7 percent.
• Trading volume was more than four times its 20-day average.

Stocks in Europe and U.S. equity futures started the week on the front foot amid hopes a partial trade deal between America and China eases a key risk for investors headed into year-end.

• Futures on the S&P 500 Index gained 0.3 percent.
• The Stoxx Europe 600 Index rose 0.7 percent.
• The MSCI Asia Pacific Index dipped 0.1 percent.
• The MSCI Emerging Market Index was little changed.

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Source: Bloomberg

Shares of Dishman Carbogen Amcis rose as much as 6.7 percent, the most since Nov. 25, to Rs 128.60.

The stock declined 44 percent in the past 12 months compared to a 14 percent gain in the Sensex, The stock traded at 8.9 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of Sterlite Technologies halted their two-day gaining streak and fell as much as 5.7 percent to Rs 114.25.

The stock traded at 8.1 times its estimated earnings per share for the coming year, Bloomberg data showed. Of the shares traded on NSE, 53 percent were at the ask price and 41 percent were at the bid, according to Bloomberg data.

The NSE Nifty Bank Index, which hit an all-time high at 32,186.95, swung from a gain of as much as 0.54 percent to fall as much as 0.36 percent.

The declines in the 12-sare gauge were led by RBL Bank Ltd., Punjab National Bank, and HDFC Bank Ltd.

Coal Secretary says:

• JSPL’s price lower than Coal Ministry’s assessment of current market situation.
• The base price for the block based on various norms.
• Even the highest premium to base price doesn’t reflect true indicative value of block.

Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty IT Index’s 1.3 percent advance. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 0.95 percent.

Shares of eClerx Services resumed gains after a one-day blip. The stock rose as much as 7 percent to Rs 537.45.

The stock advanced 12 percent in the past 12 months and rallied 23 percent in the past 30 days, according to Bloomberg data.

The scrip traded at 10 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of Punjab National Bank fell as much as 2.9 percent to Rs 62.60.

The public sector lender under-reported its non-performing assets by Rs 2,617 crore for the fiscal year 2018-19, PTI reported quoting RBI’s risk-assessment report.

The stock had declined 13 percent in the past 12 months compared to a 14 percent rally in the Sensex, Bloomberg data showed.

Shares of GAIL extended gains for the fourth consecutive trading session. The stock rose as much as 1.8 percent to Rs 122.

The stock advanced 9.7 percent in four trading sessions. Of the shares traded today on NSE, 53 percent were at the ask price and 39 percent were at the bid, according to Bloomberg data.

Nifty’s 12,100 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 Dec. 19, fell 31.70 percent to Rs 55.60. Over 5.77 lakh shares were added to the open interest which stood at over 17.58 lakh shares.

Indian equity benchmarks erased opening gains.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,008.81 and 12,083 respectively. The broader markets represented by the NSE Nifty 500 Index, too, traded flat.

The 31-share index had earlier risen as much as 0.43 percent to hit an all-time high at 41,185.03

Shares of PC Jeweller extended gains for the third consecutive trading session. The stock rose as much as 7.5 percent to Rs 28.60.

The scrip advanced 31 percent in three trading sessions, registering its best three-day rally in nine months.

Trading volume was more than three times its 20-day average, according to Bloomberg data.

Shares of Reliance Industries extended gains for the fourth consecutive trading session. The stock rose as much as 0.69 percent to Rs 1,593.90.

The company’s wholly-owned unit—Reliance Industrial Investments and Holdings signed binding agreements with Brookfield Infrastructure Partners and its institutional partners for an investment of Rs. 25,215 crore in the units to be issued by the Tower Infrastructure Trust, according to its statement on the exchanges.

Besides, the Mukesh Ambani-led conglomerate acquired 51.78 percent stake in Asteria Aerospace for Rs 23.12 crore. The company has proposed to make a further investment of up to Rs 125 crore which will increase the stake to 87.3 percent and the investment is expected to be completed by December 2021.

Reliance Industries traded at 20 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of AU Small Finance Bank rose as much as 1.1 percent to Rs 803.95.

The bank has completed Temasek’s investment in 4.8 percent stake in the Bank. The lender said in a media statement that the Temasek Group has invested Rs 525 crore towards conversion of 1.01 crore warrants.

Post the transaction, the bank’s net worth would increase by more than 4000 crore. Besides, the company will seek RBI’s approval to appoint part time chairman, who will be appointed from March 30, 2020.

The stock advanced 26 percent in the past 12 months compared to a 14 percent advance in the Sensex, Bloomberg data showed.

Shares of Sun Pharmaceutical Industries fell as much as 2.9 percent to Rs 426.40.

The drugmaker received eight Form 483 observations by the U.S. FDA for its Halol facility in Gujarat, according to its statement on the exchanges. The GMP inspection was conducted from Dec. 3-13.

The stock traded at 23 times its estimated earnings per share for the coming year, according to Bloomberg data. The scrip was the worst performer on Sensex and Nifty.

Indian equity benchmarks opened higher, extending gains for the fourth consecutive trading session.

The S&P BSE Sensex rose as much as 0.43 percent to hit an all-time high at 41,185.03 and the NSE Nifty 50 rose as much as 0.4 percent to 12,134.65. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.

The market breadth was tilted in favour of buyers. About 848 stocks advanced and 626 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty IT Index’s 0.6 percent gain. On the flipside, the NSE Nifty Pharma Index was the top sectoral loser, down 0.44 percent.

Futures

• Nifty December futures closed at 12,142.3, premium of 55.6 points versus 56.8 points.
• Nifty December futures series OI up 0.2 percent, adds 33,000 shares in OI.
• Nifty Bank December futures closed at 32,102.7, premium of 88.5points versus 51.6 points.
• Nifty Bank December futures series OI down 8 percent, sheds 1 lakh shares in OI.

Options

• Nifty PCR at 1.62 versus 1.54 (across all series)

Nifty Weekly Expiry: Dec 19

• Max OI on call side at 12,100 (11.8 lakh shares)
• Max OI on put side at 12,000 (21.2 lakh shares)
• OI addition seen in 12,000P (+11,700 shares), 12,100P (+9.6 lakh shares), 12,200C (+4.9 lakh shares)

Nifty Monthly Expiry: Dec 26

• Max OI on call side at 12,000 (25.3 lakh shares)
• Max OI on put side at 12.000 (41.7 lakh shares)

Stocks In F&O Ban

• Yes Bank

• Alembic promoter Nirayu acquired 1.02 lakh shares on Dec. 11
• Nava Bharat Ventures promoter Ashwin Devineni acquired 1.4 lakh shares from Dec. 10-12

(As reported on Dec.13)

• Trident record date for share split (10:1)
• MIRC Electronics, Sintex Industries, OCL Iron and Steel , HDIL to move out of ASM Framework
• S Chand And Company, Orient Green Power, Alok Industries, Precision Camshafts, Reliance Communications, GTL, Sintex Plastics Technology, Indiabulls Integrated Services to move out of short term ASM Framework
• TCI Finance, McLeod Russel price band revised to 5 percent.

The Indian rupee fluctuated between gains and losses against the U.S. dollar. The home currency traded little changed at 70.82 against the greenback.

Indian equity benchmarks are set for a positive start.

The S&P BSE Sensex rose 0.63 percent to 41,269 during the pre-market trade and the NSE Nifty 50 rose 0.3 percent to 12,133.80.

• Apollo Hospitals: Birla MF acquired seven lakh shares or 0.5 percent equity at Rs 1,352.16 each.

• Sun Pharmaceutical Industries received eight Form 483 observations by the U.S. FDA for its Halol facility in Gujarat. The GMP inspection was conducted from Dec. 3-13.
• AU Small Finance Bank has completed Temasek’s investment in 4.8 percent stake in the Bank. The lender said in a media statement that the Temasek Group has invested Rs 525 crore towards conversion of 1.01 crore warrants. Post the transaction, The bank’s net worth would increase by more than 4000 crore. Besides, the company will seek RBI’s approval to appoint part time chairman, who will be appointed from March 30, 2020.
• Reliance Industries acquired 51.78 percent stake in Asteria Aerospace for Rs 23.12 crore. The company has proposed to make a further investment of up to Rs 125 crore which will increase the stake to 87.3 percent and the investment is expected to be completed by December 2021.
• Ashiana Housing said that the company has booked 244 units in its Project in Jamshedpur.
• Reliance Capital defaults on interest/principal obligation on NCDs due on Dec 13.

• Hester Biosciences to consider raising capital via QIP or preference shares on Dec. 18.
• Aster DM Healthcare plans to close the operations of its loss-making clinics in Philippines by Dec. 31.
• Granules India has entered into an agreement to sell 3.3 crore equity shares in its China JV with Biocause Pharma for a consideration of RMB 109 million or Rs 110.56 crore.
• SBI: CCI has approved acquisition of 9.99 percent stake in SBI General Insurance by Warburg Pincus’ arm Honey Wheat.
• Edelweiss Financial Services: CCI has approved Sanaka Growth’s investment in Edelweiss Securities up to $44 million.

• United Bank: has reduced MCLR across various tenors with effect from Dec. 16. One-year MCLR at 8.4 percent.
• Minda Industries: has completed the acquisition of German based company- Delvis Gmbh.
• Eris Lifescience: to proceed with the share-buyback at the earliest.
• Syndicate Bank revised MCLR across various tenors with effect from Dec. 15. One-month MCLR at 7.8 percent and one-year MCLR at 8.25 percent.

• India to release wholesale price inflation data for November at noon. Estimate 0.82 percent.
• China’s industrial production and retail-sales data will be on focus Monday -- they are expected to accelerate on a year-on-year basis.

• U.S. stocks ended a tumultuous session higher on Friday with major benchmarks notching records as investors attempted to assess the contours of a partial deal reached between the U.S. and China.
• Oil fell after ending 1.6 percent higher on Friday. The Asian crude benchmark—Brent crude—fell 0.34 percent to $65 per barrel today.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.12 percent to 12,135 as of 8:30 a.m.

Asian stocks were mixed Monday as investors minded that the accord has yet to be signed and may not reflect continuing disagreements.

Stocks were little changed in Tokyo, Hong Kong and Shanghai. Australian shares outperformed. U.S. futures edged higher.

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