Stock Market Today: All You Need To Know Going Into Trade On Jan. 11
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian shares advanced on Wednesday following Wall Street gains on Tuesday as traders bet that the upcoming US consumer price index will show further softening.
U.S. stocks were waiting for a cue from Fed Chair Jerome Powell, who refrained from divulging clues on the policy outlook. Stocks moved decidedly higher in afternoon New York trading, with the S&P 500 finishing above its key 3,900 mark.
At 6:04 a.m., the Singapore-traded SGX Nifty, an early indicator of India's benchmark Nifty 50, was up 0.07% to 17,998.5.
Domestic indices closed 1% lower as losses in telecom, financials, banking, and technology stocks weighed the gauges down.
Overseas investors in Indian equities were net sellers for the 13th day in a row on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 2,109.34 crore, while domestic institutional investors mopped up stocks worth Rs 1,806.62 crore.
Rupee extended its rally against the U.S. dollar to close below the 82-mark for the first time since Dec. 6, 2022.
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Stocks To Watch
Adani Ports and Special Economic Zone: The Adani-Gadot combine has completed the acquisition of Haifa port in, the finance ministry of Israel said in a statement.
Tata Motors: The company’s subsidiary Tata Passenger Electric Mobility completed the acquisition of Ford India’s Sanand-based manufacturing plant.
Bank of Baroda: The bank has hiked lending rates across tenors in the range of 20-35 basis points, with effect from Jan. 12.
Shree Renuka Sugars: The company’s board will meet on Jan. 27 to consider and approve change in terms of its non‐convertible debentures.
Uttam Sugar Mills: The company’s board approved increasing daily capacity of its ethanol distillery in Barkatpur by 100 kilolitres to 250 kilolitres with a capex of Rs 56 crore. The company will also send Rs 40 crore to increase its cane crushing capacity enhancement to 26,200 tonnes of cane per day.
Agarwal Industrial Corporation: Investor Ashish Kacholia increased his stake in the company to 3.82%.
Adani Wilmar: Business Updates for December Quarter (YoY)
- The company registered overall volume growth in high teens and value growth of high single-digit.
- Edible oil segment saw high-single digit volume growth, and low-single digit rise in value.
PC Jeweller: Business Updates for December Quarter (YoY)
- The company recorded 38% growth in domestic turnover at Rs 829.10 crore.
- It also opened a new franchisee showroom in Bihar.
Results
National Standard (India)
Bulk Deals
Rama Steel Tubes: Nomura Singapore sold 5 lakh (0.11%) at Rs 42.8 apiece.
Jindal Stainless: To meet investors and analysts on Jan. 11.
Xpro India: To meet investors and analysts on Jan. 11.
Electronics Mart India: To meet investors and analysts on Jan. 11.
Trading Tweaks
Ex Date Amalgamation: JMC Projects (India)
Ex Date Special Dividend: Welspun Enterprises
Record Date Amalgamation: JMC Projects (India)
Record Date Special Dividend: Welspun Enterprises
Move Out Of Short-Term ASM Framework: GRM Overseas, Southern Petrochemicals Industries Corporation, Themis Medicare
Money Market Update
Rupee closed 0.69% higher against the U.S. dollar at 81.79 on Tuesday, compared to Monday’s close of 82.36.
F&O Cues
Nifty January futures ended at 17,988.45, a discount of 184.75 points.
Nifty January futures rose 3.38% and 7,609 shares in Open Interest.
Nifty Bank January futures ended at 42,222.20, a discount of 545.15 points.
Nifty Bank January futures rose 3.02% and 2,610 shares in Open Interest.
Securities added to the ban period: Gujarat Narmada Valley Fertilizers and Chemicals, IndiaBulls Housing Finance
Securities removed from the ban period: Nil
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Research Reports
Consumer Sector Q3 Results Preview - Demand Tepid, Margins Improve Sequentially: Prabhudas Lilladher
Orient Electric - Near-Term Challenges Persists; Long-Term Growth Potential Intact: ICICI Securities
HUDCO - Stable NPAs, Strong Capital Adequacy; Valuations Remains Inexpensive: HDFC Securities
Titan Company - Fine-Tuning Right To Win In South India: ICICI Securities