Indian equity indices took a massive hit on Monday, with the Sensex and Nifty falling by more than 2% each. The markets began the day on a downbeat note, as global sentiment remained cautious in the face of growing outbreaks of the omicron variant of the coronavirus throughout the world.
The broader indices ended in the red as well. The BSE mid-cap index was down by 3.42%, while the small-cap index was down by 3.31%. The top losing sectoral indices on the BSE were Realty, down by 4.74%; Oil & Gas, down 3.80%; Metal, down 3.71%; PSU, down 3.62%; and Basic Materials, down 3.31%. There were no sectoral indices in the green.
The Nifty50 has formed a long bear candle on the daily chart with a lower shadow, suggesting sharp downside momentum with a minor recovery, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
“The index has broken below a crucial support at 16,700 on the weekly chart. This is a negative sign and one may expect more weakness in the near term,” he said.
According to pivot charts, the key support levels for the Nifty are placed at 16,402.9, followed by 16,191.6. If the index moves up, the key resistance levels to watch out for are 16,832.8 and 17,051.4.
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Indian Indices
Sensex finished at 55,822.01, down 1189.73 points, or 2.09%, after trading in a range of 55,132.68 to 56,538.15 in the previous session. On the index, there were two stocks that advanced and 28 stocks that declined while Nifty ended at 16,614.20, down 371.00 points or 2.18%, after trading between 16,410.20 and 16,840.10. On the index, there were three stocks that advanced and 47 that declined.
SGX Nifty
The trends on SGX Nifty indicate a positive opening for the index in India with a 20-points gain. The Nifty futures were trading at 16,766.00 on the Singaporean Exchange around 06:45 hours IST.
Asian Markets
Asian markets finished sharply lower yesterday with shares in Japan leading the region. The Nikkei 225 was down 2.13% while Hong Kong’s Hang Seng was off 1.93% and China’s Shanghai Composite was lower by 1.07%.
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US Markets
S&P 500 dropped 1.1% or 52.62 points lower to 4,568.02. The Dow Jones Industrial Average fell 433.28 points, or 1.2%, to 34,932.16. The Nasdaq composite fell 188.74 points, or 1.2%, to 14,980.94.
European Markets
European markets finished broadly lower yesterday with shares in Germany leading the region. The DAX was down 1.83% while London’s FTSE 100 was off 1.03% and France’s CAC 40 was lower by 0.81%.
MapmyIndia debuts today
CE Info Systems, also known as MapmyIndia, will make its stock market debut on December 21. Experts believe the listing premium will be in the region of 50-80% of the issue price, while recent market volatility may have an influence. The predicted listing premium is partly due to the company’s robust financials, which include no debt, and a strong response to its initial public offering (IPO). Non-institutional investors purchased shares 424.69 times the amount put aside for them, qualified institutional buyers purchased shares 196.36 times, and retail investors purchased shares 15.20 times the amount set out for them.
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RBL Bank raises Rs 5.20 crore for inclusive education through a CSR initiative
RBL Bank on Monday said it has raised Rs 5.20 crore through a corporate social responsibility (CSR) initiative focused on cycling in a bid to support the education of underprivileged and special needs children. The private sector lender organised its 8th edition of cyclothon which had 159 cyclists pedal over 1.14 lakh km since October this year to raise the money for two schools, one each located in Hyderabad and Maharashtra, a statement said. In 2020, the Bank had raised Rs 5.12 crore through the cyclothon initiative. The initiative has garnered funds over Rs 21 crores in the past eight years.
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Shriram Properties closes 16% lower on listing day
Shriram Properties opened at a 20.3% discount at Rs 94. It hit an intraday high of Rs 106.35 and a low of Rs 91.75, down 22% before ending the day 15.76% lower at Rs 99.40 on the BSE. On the National Stock Exchange, it closed at Rs 99.60, down 15.6%, after hitting the day’s high of Rs 106.40 and low of Rs 90, which was also the opening price. Shriram Properties traded with a volume of 3 crore equity shares on the NSE and 23.43 lakh shares on the BSE.
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The CCI has approved Tata Group’s acquisition of a stake in Air India
The Competition Commission of India (CCI) on December 20 approved the acquisition of a shareholding in national carrier Air India by Talace, an entity affiliated to salt-to-software conglomerate Tata Group. Talace, which is a wholly-owned subsidiary of Tata Sons, has also been allowed by the anti-trust regulator to acquire shares in Air India Express and Air India SATS Airport Services, the CCI tweeted. “The proposed combination envisages acquisition of 100% equity share capital of Air India Limited (Air India) and Air India Express Limited, and 50% equity share capital of Air India SATS Airport Services Private Limited by Talace Private Limited (Talace),” the Commission said in an official release.
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Wipro to acquire Edgile for $230 million
Wipro on Monday said it will acquire Austin, Texas-headquartered Edgile for $230 million, a move that will strengthen the IT major’s play in the cybersecurity services space. Edgile’s experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers, a regulatory filing said. In addition, the company’s ‘strategy-first’ approach and ‘Quick Start’ solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services, it added. The purchase consideration is $230 million, and the transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions, the filing said.
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HUL hikes prices of soaps, detergents by 7-10%
Hindustan Unilever (HUL) has raised prices of a few products by seven to 10 percent, ET Now reported on December 20. This includes soaps and detergents such as Lifebuoy soap, Lux, Surf Excel detergent cake, and Rin detergent bar. Just a month back, on November 25, prices of select items including soaps and detergents were hiked by HUL citing a surge in input costs.
CMS Info Systems IPO opens on December 21
CMS Info Systems Ltd, one of the country’s biggest cash management firms, will go public on December 21. The issue will remain open for subscription until Thursday, December 23.CMS Info Systems shares will be priced between Rs 205 and 216 per share. The business intends to raise Rs 1,100 crore through a public offering. Investors can bid for a minimum of 69 shares and in multiples of 69 after that. Retail investors can invest a minimum of Rs 14,904 in one lot of shares, subject to the upper price range, and a maximum of Rs 1,93,752 in 13 lots.
Bulk Deal data
Nomura India Investment Fund Mother Fund – The MTBJ AC Nomura India Inves FD bought 20,00,000 shares in Shriram Properties at Rs 95.53 apiece on the NSE.
IMCO Emerging Markets Public Equity LP acquired 6,94,026 equity shares in CCL Products India at Rs 399.20, however, Ontario Pension Board sold 6,94,026 equity shares at Rs 399.20 per share on the BSE, the bulk deals data showed.
Anand Rathi Global Finance Ltd bought 5,00,000 equity shares in Bannari Amman Spinning Mills Ltd at Rs 66.2 per share on the NSE, as per the bulk deals data.
Affluent Investments Fund bought 1,00,344 equity shares in Shree Ganesh Biotech (India) at Rs 183 per share on the BSE, the bulk deals data showed.
Enam Finance Pvt Ltd sold 50,00,000 equity shares in Future Enterprises at Rs 11.6 per share on the NSE.
IMCO Emerging Markets Public Equity LP acquired 1,83,474 equity shares in Solara Active Pharma Sciences at Rs 1,077.95 per share, however, Ontario Pension Board offloaded 1,83,474 equity shares at Rs 1,077.95 per share on the BSE, the bulk deals data showed.
Usha Martin Ventures Ltd picked up 5,00,000 equity shares in Usha Martin Edu & Sol Ltd at Rs 5.6 per share. And, individual investors Guttikonda Rajasekhar and Sanjay K Sethi have individually picked up 4,49,824 and 87,000 shares in Megasoft Limited and IMP Powers Ltd at Rs 54.85 and 23.46 per share respectively on the NSE, the bulk deals showed.
IMCO Emerging Markets Public Equity LP purchased 7,56,583 equity shares in Suprajit Engineering at Rs 415.25 per share, however, Ontario Pension Board sold 7,56,583 equity shares at Rs 415.25 per share on the BSE, the bulk deals data showed.
DII and FII data
Foreign institutional investors (FIIs) sold shares worth a net Rs 3,565.36 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 2,764.02 crore in the Indian equity market on December 20, as per provisional data available on the NSE.
NSE F&O Ban
Escorts and Indiabulls Housing Finance – are under the F&O ban for December 21. 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.
