Trade Setup: Top 15 things to know before market opens on December 1, 2021

Indian equity benchmarks ended a choppy session on Tuesday mildly lower, dragged losses in financial, oil & gas, and metal shares, though gains in IT and power shares lent some support.

The Nifty50 has formed a small negative candle on the daily chart with a long upper shadow, suggesting sell-on-rise type action, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

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“One may expect the index to move lower again to the low of 16,782 levels in the short term. The negative chart pattern of lower highs and lower lows is intact on the daily chart, and Tuesday’s high of 17,324 could be considered a new lower high of the sequence,” he said.

The broader indices ended in green; the BSE Mid cap index rose 0.29%, while Small cap index was up by 1.45%. The top gaining sectoral indices on the BSE were Consumer Durables up by 2.26%, IT up by 0.95%, Realty up by 0.69%, TECK up by 0.56% and Consumer Discretionary up by 0.49%, while Metal down by 2.34%, Energy down by 1.04%, Bankex down by 0.85%, Auto down by 0.85% and Telecom down by 0.71% were the top losing indices on BSE.

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According to pivot charts, the key support levels for the Nifty are placed at 16,834.84, followed by 16,686.47. If the index moves up, the key resistance levels to watch out for are 17,228.13 and 17,473.07.

Indian Indices

BSE Sensex fell 195.71 points or 0.34% to 57,064.87 and the Nifty was down by 70.75 points or 0.41% to 16,983.20. Sensex touched high and low of 58,183.77 and 56,867.51, respectively and there were 13 stocks advancing against 17 stocks declining on the index. Nifty traded in a range of 17,324.65 and 16,931.40 and there were 22 stocks advancing against 28 stocks declining on the index. 

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SGX Nifty

The trends on SGX Nifty indicate a positive opening for the index in India with a 50-points gain. The Nifty futures were trading at 17,158.20 on the Singaporean Exchange around 07:20 hours IST.

US Markets

On Tuesday, the Dow lost more than 650 points. The S&P 500 shed 1.9% and the tech-focused Nasdaq Composite dipped 1.6%. The small-cap benchmark Russell 2000 tumbled 1.9% as cyclical names dragged on the markets.

European Markets

European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 1.18% while France’s CAC 40 is off 0.81% and London’s FTSE 100 is lower by 0.71%.

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PB Fintech arm Docprime invests Rs 10.8 crore more in Visit Health

Docprime, a fully owned subsidiary of PB Fintech, has made a further investment of over Rs 10.8 crore in healthcare and wellness services provider Visit Health (VHPL) for a minority stake. The board of directors of PB Fintech approved the proposal at a meeting held on Tuesday (November 30, 2021), the company said. The board has approved a further investment of Rs 10,80,94,228 by Docprime Technologies Pvt Ltd in Visit Health Pvt Ltd, PB Fintech said in a regulatory filing. In lieu, VHPL will issue 1,44,511 compulsorily convertible debentures (CCDs) of Rs 748 each to Docprime.

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ICICI Venture divests partial stake in Go Fashion

ICICI Venture, the alternative asset arm of ICICI Bank, on Tuesday said it has divested half of its 13.5 percent stake in the recently concluded IPO of Go Fashion (India) Ltd, which owns women’s wear brand Go Colors. ICICI Venture, through its fourth private equity fund India Advantage Fund Series 4 (IAF4), had invested Rs 100 crore in Go Fashion for a 13.5 percent stake in 2018. Through the stake dilution, the alternative asset firm made five times return in its investment made in Go Fashion, ICICI Venture said in a statement.

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Lumos Alternative Investment Advisors and Gruhas Proptech to raise Rs 500-crore realty fund

Lumos Alternate Investment Advisors Pvt Ltd and Gruhas Proptech LLP have joined hands to raise a Rs 500 crore real estate fund, focused on last-mile funding, structured debt, and acquisition of stressed housing projects. Gruhas Proptech is promoted by entrepreneur Abhijeet Pai and Zerodha Broking Ltd co-founder Nikhil Kamath. It has joined Lumos Alternate Investment as an anchor investor and general partner. The proposed fund will be focussing on structured debt and certain equity opportunities in real estate projects, which have secured required permissions, across major cities of India.

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NMDC slashes lump ore prices by Rs 750 per tonne, fines by Rs 200 per tonne

State-owned mining company NMDC on Tuesday slashed prices of lump ore by Rs 750 a tonne and fines Rs 200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to Rs 5,200 a tonne. While the price of lump ore or low-grade ore has been fixed at Rs 4,560 per tonne.

S&P keeps India’s GDP growth forecast unchanged at 9.5% in FY22

S&P Global Ratings on Tuesday kept India’s economic growth forecast in the fiscal year to March 2022 unchanged at 9.5 percent but raised its predictions for the subsequent year on broadening out of the recovery. The Indian economy had shrunk by 7.3 percent in 2020-21 fiscal (April 2020 to March 2021) as pandemic induced restrictions battered business activity. The gradual lifting of the restrictions has helped the economy to rebound from pandemic lows.

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Zomato plans to connect restaurant owners to investors for fund raise

Online food delivery firm Zomato on November 30 said it will help restaurant owners raise capital to expand business in India by connecting them with the right set of investors. “We constantly ask ourselves – what does it take for a great restaurant to grow further and faster? We believe it is a combination of great food, exceptional customer service, entrepreneurial team, loved brand, and easy access to capital,” the company said in a statement. Through Zomato Wings, the company plans to connect investors with restaurants.

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Bulk Deal Data

iShares Core Emerging Markets Mauritius Co sold 16,45,664 equity shares in DCB Bank at Rs 82.3 per share on the NSE, the bulk deal data showed.

Nomura Funds Ireland Public Limited Company – Nomura Funds Ireland – India Equity bought 2.75 lakh equity shares and Nomura India Investment Fund Mother Fund – The MTBJ AC Nomura India Inves FD acquired 7.25 lakh equity shares in Go Fashion India at Rs 1,277.97 per share on the NSE, the bulk deal data showed.

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Integrated Core Strategies (Asia) Pte Ltd sold 28,49,124 equity shares in Godrej Properties at Rs 1,997.77 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd sold 51,52,809 equity shares in Indian Rail Tourism Corporation at Rs 794.4 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd acquired 25,46,497 equity shares in Ipca Laboratories at Rs 2,103.52 per share on the NSE, the bulk deal data showed.

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Integrated Core Strategies (Asia) Pte Ltd sold 16,21,527 equity shares in MindTree at Rs 4,318.82 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd offloaded 21,51,191 equity shares in MphasiS at Rs 2,895.9 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd bought 2,18,80,648 equity shares in Rural Electrification Corporation at Rs 134.46 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd sold 35,20,150 equity shares in SRF at Rs 2,001.89 per share, and Societe Generale sold 18,77,487 equity shares in the company at Rs 2,021.45 per share on the NSE, the bulk deal data showed.

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Vijay Kishanlal Kedia bought 2,05,524 equity shares in Talbros Automotive Components at Rs 337.48 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd sold 3,28,49,909 equity shares in Tata Power at Rs 216.48 per share on the NSE, the bulk deal data showed.

Integrated Core Strategies (Asia) Pte Ltd sold 4,17,30,413 equity shares in Zomato at Rs 151.87 per share on the NSE, the bulk deal data showed.

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DII and FII data

Foreign institutional investors (FIIs) sold shares worth net Rs 5,445.25 crore, while domestic institutional investors (DIIs) bought shares worth net Rs 5,350.23 crore in the Indian equity market on November 30, as per provisional data available on the NSE.

NSE F&O Ban

Indiabulls Housing Finance is under the F&O ban for December 1. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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Quarterly Results

One 97(Paytm) Standalone September 2021 Net Sales at Rs 1,051.50 crore, up 70.39% Y-o-Y

RR Finance Consolidated September 2021 Net Sales at Rs 3.57 crore, down 1.58% Y-o-Y

Onward Tech Consolidated September 2021 Net Sales at Rs 72.94 crore, up 21.2% Y-o-Y

Reliance Comm Standalone September 2021 Net Sales at Rs 81.00 crore, down 36.72% Y-o-Y

Medinova Diag Consolidated September 2021 Net Sales at Rs 3.36 crore, down 27.82% Y-o-Y

CCCL Standalone September 2021 Net Sales at Rs 38.55 crore, down 33.88% Y-o-Y

Padmanabh Alloy Standalone September 2021 Net Sales at Rs 7.69 crore, down 7.62% Y-o-Y

Premier Explo Consolidated September 2021 Net Sales at Rs 54.82 crore, up 20.96% Y-o-Y

Padmanabh Alloy Standalone September 2021 Net Sales at Rs 7.69 crore, down 7.62% Y-o-Y

Premier Explo Consolidated September 2021 Net Sales at Rs 54.82 crore, up 20.96% Y-o-Y

Motor and Gen F Consolidated September 2021 Net Sales at Rs 0.95 crore, up 113.32% Y-o-Y

CCCL Consolidated September 2021 Net Sales at Rs 39.95 crore, down 32.12% Y-o-Y

Reliance Comm Consolidated September 2021 Net Sales at Rs 136.00 crore, down 30.96% Y-o-Y

Oswal Agro Consolidated September 2021 Net Sales at Rs 0.24 crore, down 96.86% Y-o-Y

Rama Petrochem Consolidated September 2021 Net Sales at Rs 0.53 crore, up 357.8% Y-o-Y

One 97(Paytm) Consolidated September 2021 Net Sales at Rs 1,086.40 crore, up 63.64% Y-o-Y