Opening Bell:
Gift Nifty is down by 13.5 points in the early morning trade, indicating a positive opening for Indian stock market.
Asian markets dipped Monday at the start of the penultimate week of 2023, after most markets in the region rallied last week following the US Federal Reserve’s decision to hold rates and its roadmap for rate cuts in 2024 and 2025. Japan’s Nikkei down 1.23 percent and and Kospi index down 0.3 percent.
The S&P 500 ended a choppy session little changed on Friday but registered a seventh straight week of gains in its longest winning streak since 2017 after this week’s dovish pivot by the Federal Reserve. The Dow Jones industrial average notched a record high close for the third session in a row. The Dow Jones Industrial Average rose 56.81 points, or 0.15 percent, to 37,305.16, the S&P 500 lost 0.36 points, or 0.01 percent, to 4,719.19 and the Nasdaq Composite added 52.36 points, or 0.35 percent, to 14,813.92
Stocks News:
👉 ITC’s largest shareholder, British American Tobacco, indicated that it would be open to trimming its 29.02 percent stake in the cigarettes-to-hotels conglomerate.
👉 Adani’s group has acquired a majority stake in news agency IANS India Pvt Ltd for an undisclosed sum as the group expands its presence in the media space. In a regulatory filing, Adani Enterprises — the firm that holds the group’s media interest — said its subsidiary “AMG Media Networks Ltd has acquired a 50.50 per cent stake constituting equity shares of IANS India Pvt Ltd.”.
👉 Softbank entity SVF Python II Cayman sold 1,14,21,212 equity shares in the Policybazaar operator PB Fintech via open market transactions on December 15. SVF offloaded these shares at a price of Rs 800.05 per share, valuing at Rs 913.75 crore.
👉 Tata Power Solar Systems, a wholly owned subsidiary of Tata Power Renewable Energy, has signed a contract to supply 152 MWp DCR solar PV modules for NTPC’s Nokh solar PV project in Rajasthan. The project order value is approximately Rs. 418 crore. NTPC is developing 3*245 MW (735 MW) Nokh Solar Park at Pokaran, Rajasthan.
👉 Foreign institutional investors (FIIs) net bought shares worth Rs 9,239.42 crore, while domestic institutional investors (DIIs) sold Rs 3,077.43 crore worth of stocks on December 15, provisional data from the National Stock Exchange (NSE) showed.
Domestic and International Events
- Given the optimistic mood at Dalal Street with benchmark indices as well as broader markets and several sectors achieving new milestones day after day, the primary market also seems to be more energetic now providing several investment opportunities for investors as a total of 12 companies will be opening their initial public offerings next week along with lined up of eight new listings.
- The Reserve Bank of India (RBI) has announced that the Sovereign Gold Bond (SGB) Scheme Series III for the financial year 2023-2024 will open on December 18. The launch of the new series has come on the back of gold prices increasing by more than 10 percent in 2023 and defying expectations amid a high interest rate environment.
- India is set to sign trade facilitation deals with five more key partners over the next three months. The Central Board of Indirect Taxes and Customs will shortly sign pacts with Australia and Russia, followed by deals with Japan, South Africa, and the eight-nation East African Community by March.
- Oil prices rose nearly 1% in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.
- The price of 24-carat gold remained stable during early trade on Monday, with ten grams of the precious metal selling at Rs 62,510, according to the GoodReturns website. The price of silver was also flat with one kilogram of the precious metal selling at Rs 77,700
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 16,792 | 2.4 % |
| Shanghai Composite | 2,943 | (0.6) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 37,305 | 0.2 % |
| DAX | 16,751 | 0.0 % |
| FTSE 100 | 7,576 | (1.0) % |
| Nikkei | 32,971 | 0.9 % |
| Straits Times | 3,117 | (0.2) % |
