On Thursday, Indian equity benchmarks saw yet another range-bound trading day and concluded on a flat note, as investors remained cautious in the midst of rising Omicron cases. The major indices began quietly but quickly began to rise slightly in early morning trade.

The broader indices were trading mixed; the BSE Midcap index fell 0.22%, while the Small cap index was up by 0.19%. The top gaining sectoral indices on the BSE were IT up by 0.96%, TECK up by 0.82%, Healthcare up by 0.51%, Consumer Durables up by 0.43% and Telecom up by 0.10%, while Energy down by 1.62%, Oil & Gas down by 1.43%, Metal down by 1.15%, Realty down by 0.99% and Utilities down by 0.94% were the top losing indices on BSE.

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The Nifty50 has formed a small candle on the daily chart with minor upper and lower shadows, hinting at a Doji type pattern, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. “Normally, such Doji at the highs or lows could be considered an impending warning signal for a trend reversal. However, the predictive value of this pattern could be less in this case,” he said.

According to pivot charts, the key support levels for the Nifty are placed at 17,145.43, followed by 17,086.97. If the index moves up, the key resistance levels to watch out for are 17,263.23 and 17,322.56.

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Indian Indices

Sensex fell 12.17 points or 0.02% to 57,794.32 and Nifty was down by 9.65 points or 0.06% to 17,203.95 in the previous session. Sensex touched high and low of 58,010.03 and 57,578.99, respectively and there were 16 stocks advancing against 14 stocks declining on the index while Nifty traded in a range of 17,264.05 and 17,146.35 and there were 23 stocks advancing against 27 stocks declining on the index.

SGX Nifty

The trends on SGX Nifty indicate a positive opening for the index in India with a 122-points gain. The Nifty futures were trading at 17,338.50 on the Singaporean Exchange around 06:15 hours IST.

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Asian Markets

Asian markets finished mixed. The Shanghai Composite gained 0.62% and the Hang Seng rose 0.11%. The Nikkei 225 lost 0.40%.

US Markets

The S&P 500 fell 14.33 points, or 0.3%, to 4,778.73.

The Dow Jones Industrial Average fell 90.55 points, or 0.2%, to 36,398.08.

The Nasdaq fell 24.65 points, or 0.2%, to 15,741.56.

The Russell 2000 index of smaller companies fell 0.45 points, less than 0.1%, to 2,248.79.

European Markets

European markets finished mixed. The DAX gained 0.21% and the CAC 40 rose 0.16%. The FTSE 100 lost 0.24%.

SBI acquires 9.95 percent stake in India International Exchange (IFSC)

State Bank of India (SBI), the country’s largest public-sector lender, December 30 announced the acquisition of 9.95 percent in India International Exchange (IFSC). In a regulatory filing, SBI said the 9.95 percent stake in IFSC is “to be acquired subject to a maximum investment of Rs. 34.03 crore”. “Initial subscription is estimated to be completed by 31st March 2022. Thereafter, the Clearing Corporation may call up the residual commitment from SBI in accordance with the transaction documents and applicable law,” the bank informed the stock exchanges.

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RBL Bank creates a panel to find candidates for the positions of MD and CEO

RBL Bank on December 30 informed the stock exchanges that it has formed a search committee to find suitable candidates who can head the private lender as its managing director and chief executive officer (MD & CEO). The panel comprises the bank’s chairman of the nomination & remuneration committee, two board members, and one external expert, it said. The search committee will evaluate candidates for the position from “within and outside the bank”, it said. The regulatory filing further noted that the bank would attempt at completing the succession process at an early date.

Sterling & Wilson’s board has approved the allocation of 2.93 crore shares to Reliance New Energy at Rs 375 per share

Sterling & Wilson’s board of directors has approved the allotment of 2.93 crore equity shares to Reliance New Energy Solar Limited (RNESL) at a price of Rs 375 apiece, aggregating to Rs 1,099 crore. Post allotment, RNESL will hold 15.46 percent of the total paid-up equity share capital of the firm, the company said in an exchange filing on December 30. The details pertaining to Sterling & Wilson’s issuance of 2.93 crore equity shares to RNESL was disclosed by the Company to the BSE and NSE on October 10, 2021. Following the allotment, Sterling & Wilson’s subscribed and paid-up equity share capital stands increased from 16,03,60,000 to 18,96,93,333 equity shares of the face value of Rs 1 each.

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Dish TV’s 33rd Annual General Meeting: MD Jawahar Lal Goel said a Rs 1,000 crore rights issue might take place in January

Satellite service provider Dish TV’s MD and Director Jawahar Lal Goel, during the company’s 33rd annual general meeting, said that he hopes the Rs 1,000 crore rights issue matter comes up in January next year. “We have passed the resolution but one of the shareholders (Yes Bank) has objected to it so we did not bring the issue to shareholders as of today. I wish and hope the matter should come up in January,” said Goel. Dish TV and Yes Bank, the largest shareholder of the company with a 25.63 percent stake, are currently fighting a legal battle in various forums including National Company Law Tribunal (NCLT), the High Courts, and the Supreme Court.

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CARS24 ties up with Bajaj Finance

Online used car platform CARS24 on Thursday announced its partnership with Bajaj Finance for the financing of pre-owned cars for customers. CARS24 Financial Services Pvt Ltd, a wholly-owned subsidiary of CARS24 Services, offers car financing to used car buyers. This partnership will lead to increased penetration in the used cars industry and enable consumers to further enjoy a hassle-free customer experience with financial solutions from Bajaj Finance Ltd(BFL), CARS24 said in a release. According to CARS24, while the demand for pre-owned vehicles is skyrocketing, the financing penetration in the domestic used cars industry stands at only around 15 per cent.

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Bulk Deal data

India Opportunities Growth Fund Ltd – Pinewood Strategy sold 20 lakh equity shares in Essar Shipping at Rs 11 per share on the NSE, the bulk deals data showed.

Authum Investment & Infrastructure Limited, Meena Ashwin Kothari and Sanatan Financial Advisory Services Private Limited bought 4,21,000, 2,70,000 and 85,560 equity shares in Cantabil Retail Ltd, at Rs 731.09, Rs 705.67, Rs 750 per share respectively on the NSE.

Amit Ratanlal Sekhani sold 2.5 lakh equity shares in Pioneer Embroideries at Rs 65.3 per share, and Anand Ratanlal Sekhani sold 2.5 lakh shares at Rs 65.32 per share on the NSE, the bulk deals data showed.

Investors sold 9,67,487 equity shares in WinPro Industries at Rs 8.02 per share on the NSE, the bulk deals data showed.

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Jindal Ravinder Kumar, Satya Narain Goel and Sunil Kumar Jindal dumped 1,65,000, 1,65,000 and 1,00,040 equity shares in Cantabil Retail Ltd at Rs 725.94, Rs 716.03 and Rs 732 per share respectively in the company on the NSE, the bulk deals data showed.

In Nupur Recyclers Limited, Manglam Financial Services, prarambh securities pvt. Ltd, and Rishi R Bafna each sold 1,10,000 equity shares at Rs 97.5, Rs 97.59 and Rs 97.48 per share, while Vijit Global Securities Private Limited also sold 1,44,000 equity shares Rs 98 apiece on the NSE.

Indusind Bank Ltd Client A/C sold 35,00,000 equity shares in Zee Learn at Rs 15.14 per share on the NSE, according to bulk deals data.

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Intellect Stock Broking Limited sold 34,800 shares in Foce India Limited at Rs 225.76 per share on the NSE, as per the bulk deals data.

IFCI sold 18 lakh shares in MEP Infrastructure Developers at Rs 20.1 per share on the NSE, and 12 lakh shares at Rs 20.05 per share on the BSE, the bulk deals data showed.

Investor Porinju Veliyath offloaded 29,441 equity shares in Danlaw Technologies India at Rs 248.89 per share on the BSE, the bulk deals showed.

Quant Mutual Fund acquired 1.2 lakh shares in Rama Steel Tubes at Rs 283 per share on the BSE, the bulk deals data showed.

Shah Chetan Rasiklal bought 88,000 shares from Mansi Shares & Stock Advisors Pvt Ltd in 21st Century Mgmt Ser Ltd at Rs 44.7 per share on the NSE, the bulk deals data showed.

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DII and FII data

Foreign institutional investors (FIIs) sold shares worth a net Rs 986.32 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 577.74 crore in the Indian equity market on December 30, as per provisional data available on the NSE.

NSE F&O Ban

No security has been put under the F&O ban for December 31. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.