View on market: Stay Cautious, be with quality business:
Most Asian stocks rose Thursday following a rally in U.S. equities after U.S. central bank projected three quarter-point interest-rate increases in 2022, another three in 2023 and two more in 2024. The Fed also flagged off economic risks due to omicron strain. Japanese shares led regional gains, South Korea climbed and Australia slipped. Futures for Hong Kong slid amid concerns about more U.S.sanctions on Chinese companies. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.61% to 17,357.00, as of 8:30 a.m.
Economic Calendar:
- INR: Bank Loan Growth on 17th December, 2021.
- INR: Foreign Exchange Reserve on 17th December, 2021.
- USD: US Baker Hughes Oil Rig Count on 17th December, 2021.
- USD: Fed Waller Speaks 17th December, 2021.
Brokerage Radar:
ANTIQUE ON UPL: Maintain BUY, Target at 960/share Margin concerns behind; compelling valuation Agricultural demand remains healthy globally US, Europe and Brazil are witnessing stable season Erratic climatic condition has impacted India growth EBITDA margin to surge in 2HFY22 driven by product price hikes
CREDIT SUISSE ON ITC Maintain Outperform , Target at 280/share FMCG on a strong footing Open restructuring options to unlock value, Cigarette business has growth potential if there is tax stability, FMCG now a scaled-up yet fast-growing business Savlon and Nimyle acquisitions have proven big successes.
CITI ON SUN PHARMA: Maintain BUY, Target at 1000/share Maintain, top pharma pick Co is very well positioned from the risk-reward perspective Valuations are reasonable at 5Yr mean Specialty sales are picking up well Contribution of US generics is relatively small but pipeline is decent
International Markets:
U.S & Europe
| Particulars | 15th Dec | Chg | Chg(%) |
| Nasdaq | 15,565.58 | 327.94 | 2.15 |
| Dow | 35927.43 | 383.25 | 1.08 |
| FTSE | 7,170.75 | -47.89 | -0.66 |
| CAC | 6,927.63 | 32.32 | 0.47 |
| DAX | 15,476.35 | 22.79 | 0.15 |
| Dow Fut.* | 35934.8 | 7.4 | 0.02 |
Asian markets:
| Particulars | 16th Dec | Chg. | Chg(%) |
| SGX Nifty | 17,360.00 | 108.5 | 0.63 |
| Nikkei | 28,904.25 | 444.53 | 1.56 |
| Straits Times | 3,117.72 | 2.84 | 0.09 |
| Hang Seng | 23,308.83 | -111.93 | -0.48 |
| Shanghai | 3,663.75 | 16.12 | 0.44 |
ADR Watch:
| Particulars | 15th Dec | Chg. | Chg.(%) |
| Dr Reddy | 60.46 | -0.34 | -0.56 |
| HDFC Bank | 64.18 | -0.53 | -0.82 |
| ICICI Bank | 19.41 | -0.25 | -1.27 |
| Infosys | 23.26 | 0.37 | 1.62 |
| Tata Motor | 32.15 | 0.46 | 1.45 |
| Wipro | 8.67 | 0.05 | 0.58 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.23 | 0.48 |
| Brent | 74.63 | 0.42 |
| Gold | 1782.85 | 1.04 |
| Silver | 22.157 | 2.84 |
FIIs & DII
| Particulars | 15thDec | 14thDec |
| FIIs | -3407.04 | -763.18 |
| DIIs | 1553.01 | 425.43 |
News Update:
Adani Ports and Special Economic Zone: The Company has signed a share purchase agreement with Adani Transmission for divestment of 100 percent equity stake of MPSEZ Wipro: The company will acquire LeanSwift Solutions for $21 million in an all-cash deal. The deal is expected to be completed by March 2022. Besides, the technology major has entered into a partnership with Italy-based UMPI, a smart lighting and building products maker, who will use the Wipro Sewage Monitor to empower water companies, municipalities in Europe.
Vodafone Idea: The telco is reportedly targeting a four-fold jump in annual capital expenditure to $2 billion, the company’s top management has said, as it looks to take on stronger rivals.
India bulls Housing Finance: A block trade of 10-11 percent is likely today. Promoter Sameer Gehlaut is likely to sell his stake in the company while two large investors are expected to pick up 6-7 percent stake.
Vakrangee: The Company partnered with Pharmeasy to provide online medicines & healthcare services across its platform.
Cipla: The Company has acquired up to 33 percent of the partnership interest in Clean Max Auriga Power LLP. This agreement is in line with the company’s commitment to enhance the share of renewable power sources in its operation and to comply with the regulatory requirement for being a captive user under electricity laws.
Sun Pharmaceutical Industries: The Company’s subsidiary has received final approval from the US FDA for its abbreviated new drug application for generic Amphotericin B Liposome for injection.
Power Grid Corporation of India: The board of directors has approved to pay Rs 7/share as interim dividend.