Stock markets in Asia-Pacific region rose early Tuesday, taking cues from gains on Wall Street as investors await for a slew of economic data from the region, and the U.S.
Nikkei was trading 1.64% higher at 33,919.03, and S&P ASX 200 was 1.06% up at 7,530 as of 6:34 a.m.
In Tokyo, consumer prices, which leave aside fresh food came at 2.1% on year in December, compared to 2.3% in November. Japan's capital city's inflation figure is an early indicator for national figures which will be announced next week, Bloomberg reported.
Market participants will keep an eye on China to see whether the country raises its monetary support to stimulate the faltering economy.
The U.S. CPI is scheduled for release on Thursday, which will provide further insight to investors about the Federal Reserve's monetary policy path going ahead.
A rally in big tech sent U.S. stocks higher at the start of a week that will bring key inflation data and bank earnings, Bloomberg reported.
The S&P 500 index and Nasdaq 100 advanced 1.41% and 2.11%, respectively, on Monday The Dow Jones Industrial Average rose 0.58%.
Brent crude was trading 2.64% lower at $76.12 a barrel. Gold was up 0.32% at $2,034.59 an ounce.
India's benchmark indices snapped their two-session rally to end lower on Monday, led by losses in financial services, FMCG and IT stocks.
The Nifty ended 197.80 points, or 0.91%, lower at 21,513.00 points, while the Sensex fell 670.93 points, or 0.93%, to close at 71,355.22. Nifty hit an intraday low of 21,492.90, and the Sensex fell to 71,301.04.
Overseas investors remained net buyers of Indian equities for the third consecutive session on Monday. Foreign portfolio investors mopped up stocks worth Rs 16 crore, while domestic institutional investors mopped up equities worth Rs 156 crore, according to provisional data from the National Stock Exchange.
The Indian rupee strengthened 2 paise to close at Rs 83.14 against the U.S. dollar on Monday.
Stocks To Watch
Bajaj Auto: The company has approved a Rs 4,000-crore buyback via a tender offer. It plans to buy back 40 lakh fully paid-up equity shares of face value of Rs 10 each at Rs 10,000 apiece.
Zee Entertainment Enterprises: Sony Group is planning to call off the $10 billion merger pact with the company, according to Bloomberg.
Adani Group Companies: The conglomerate has signed a Memorandum of Understanding to invest over Rs 42,700 crore in Tamil Nadu.
Eicher Motors: The company’s unit, Royal Enfield, signed a non-binding Memorandum of Understanding with the Tamil Nadu government. It will invest around Rs 3,000 crore over eight years in the state to set up greenfield and brownfield projects in the region.
Brigade Enterprises: The company has signed a Memorandum of Understanding with the Tamil Nadu government to invest over Rs 3,400 crore for multiple construction projects.
Ashok Leyland: The company signed a Memorandum of Understanding with the Tamil Nadu government to invest Rs 1,200 crore in three to five years.
Bajaj Finserv: The company’s unit, Bajaj Alliance, reported a total new business premium of Rs 962 crore and a gross direct premium of Rs 1,425.1 crore for December.
IRB Energy: The company signed a Memorandum of Understanding with the Tamil Nadu government to invest up to Rs 858 crore over the years.
Caplin Point Laboratories: The company signed a Memorandum of Understanding with the Tamil Nadu government to invest Rs 700 crore over five years in diverse projects.
BEML: The company bagged an order worth Rs 329.87 crore from the Ministry of Defence for the supply of Mechanical Minefield Marking Equipment Mark-II.
Adani Enterprises: The company's unit, Mumbai International Airport, secured relief from an arbitration panel against the Airports Authority of India in the matter related to payment of the monthly annual fee during the COVID-19 period.
Cipla: The company’s UK-based arm announced a joint venture with Kemwell Biopharma and Manipal Education & Medical Group to develop novel cell therapy products for major unmet medical needs in the United States, Japan, and EU regions.
Life Insurance Corp.: The company will invest 10% in the new company promoted by the National Housing Bank for residential mortgage-backed securities.
Cupid: The company has received an additional purchase order worth Rs 16.23 crore from the Central Medical Services Society for the supply of male condoms.
Tata Motors: The company reported Jaguar Land Rover wholesales at 1.01 lakh units, up 27% YoY and retail sales at 1.09 lakh units, up 29% YoY. The order book continues to be strong, the company said.
Sanghi Industries: Ambuja Cements' open offer for acquiring a 26% stake in the company will open on Jan. 15 and close on Jan. 29.
Aurobindo Pharma: The U.S. FDA conducted its inspection at the company’s Telangana manufacturing facility. It ended with a 'Voluntary Action Indicated' classification.
Gujarat State Fertilizers and Chemicals: The company has commissioned a manufacturing plant at Fertilizernagar in Vadodara for the production of ammonium sulphate. The facility has an installed capacity of manufacturing 1,32,000 MT of ammonium sulphate.
Gujarat Mineral Development Corp. has received approval for environmental clearance from the Ministry of Environment, Forestry, and Climate Change to expand its capacity from 3 MTPA to 5 MTPA of lignite at Surkha (N) Lignite Mine.
Metropolis Healthcare: The company, in its Q3 business update, announced that its core business revenue grew by 12% YoY. It was largely driven by 9% volume growth and lower margins.
Fino Payments Bank: The company has applied for a small finance bank licence from the Reserve Bank of India.
Earnings in Focus
Delta Corp.
IPO Offerings
Jyoti CNC Automation: The IPO will open for bids on Tuesday. It will comprise a fresh issue of Rs 1,000 crore. The price band is fixed at Rs 315–331 apiece. The company has raised Rs 447.7 crore from anchor investors.
Bulk Deals
Hi-Tech Pipes: Manisha Gupta sold 9.99 lakh shares (0.76%), while Bandhan Mutual Fund bought 10 lakh shares (0.76%) at Rs 141 apiece.
Pledge Share Details
Emami: Promoter group Suraj Finvest revoked a pledge for 6.7 lakh shares between Jan. 3 and 4. Promoter Diwakar Finvest revoked a pledge for 3 lakh shares on Jan. 4.
Who’s Meeting Whom
Pricol: To meet analysts and investors on Feb. 2.
Ajanta Pharma: To meet analysts and investors on Feb. 12 and 13.
Vishnu Chemicals: To meet analysts and investors on Jan. 11.
Wardwizard Foods and Beverages: To meet analysts and investors on Jan. 8. and 10.
Tilaknagar Industries: To meet analysts and investors on Jan. 11.
One 97 Communications: To meet analysts and investors on Jan. 20.
Trading Tweaks
Price band revised from 20% to 10%: Allcargo Terminals.
Price band revised from 5% to 20%: Motisons Jewellers.
Moved into a short-term ASM framework: GTL Infrastructure.
F&O Cues
Nifty January futures down by 1.03% to 21,569.95 at a premium of 56.95 points.
Nifty January futures open interest up by 0.6%.
Nifty Bank January futures down by 1.57% to 47,630 at a premium of 179.75points.
Nifty Bank January futures open interest up by 27%.
Nifty Options Jan 11 Expiry: Maximum Call open interest at 21,700 and Maximum Put open interest at 21,000.
Bank Nifty Options Jan 10 Expiry: Maximum Call Open Interest at 48,000 and Maximum Put open interest at 46,000.
Securities in the ban period: Balrampur Chini Mills, Bandhan Bank, Chambal Fertilizer, Delta Corp, Escorts Kubota, Gujarat Narmada Valley Fertilizer and Chemicals, Hindustan Copper, Indian Energy Exchange, India Cements, National Aluminium, Piramal Enterprise, SAIL, Zee Entertainment.
Money Market Update
The Indian rupee strengthened 2 paise to close at 83.14 against the U.S. dollar on Monday.
Research Reports
Q3 FY24 Results Preview - Domestic Cyclicals To Drive Earnings Amid Benign Macros: Motilal Oswal
Banks Q3 Results Preview - Core Profitability To Decline Sequentially: Prabhudas Lilladher
Metals Q3 Results Preview - Miners Make Merry; Ferrous Drag: ICICI Securities
Chemical Sector Q3 Results Preview - Revival Likely But Timing Is Uncertain: Nirmal Bang
Oil, Gas Q3 Preview - Weak Operating Results Anticipated: Prabhudas Lilladher
Disclaimer: NDTV is a subsidiary of AMG Media Networks Ltd, an Adani Group Company.
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