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All You Need To Know Going Into Trade On Nov. 27

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Stocks in Asia eked out modest gains Tuesday after beaten-down tech shares led the strongest session for U.S. stocks in two weeks.

Equity benchmarks rose in Japan and Australia, and futures in Hong Kong pointed higher, while U.S. contracts slipped. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.5 percent to 10,597 as of 7:15 a.m.

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Here’s a quick look at all that could influence equities today.

U.S. Market Check

Beaten-down tech shares led the strongest session for U.S. stocks in two weeks, extending the run of turbulence that has made this month one of the wildest of the past five years.

Also Read: Trump Signals U.S. Likely to Go Ahead With China Tariff Increase

Europe Market Check

European shares climbed after EU leaders and U.K. Prime Minister Theresa May agreed on a framework deal for Brexit over the weekend, but lost some steam after investors weighed the next hurdle: approval by the British parliament, which is likely to be fraught with discord.

Also Read: May’s Big Gamble: Everybody Is Bored of Brexit

Asian Cues

  • Japan’s Topix index rose 0.5 percent.
  • Australia’s S&P/ASX 200 Index climbed 0.1 percent.
  • South Korea’s Kospi index added 0.1 percent.
  • Hong Kong’s Hang Seng Index futures rose 0.2 percent.
  • S&P 500 futures fell 0.4 percent.

Also Read: Analyst Who Nailed 2018 Has Same S&P 500 Forecast for 2019

Commodity Cues

  • West Texas Intermediate crude was little changed at $51.57 a barrel after jumping 2.4 percent.
  • Brent crude traded 0.55 percent lower at $60.15 a barrel.
  • Gold was steady at $1,222.40 an ounce.

Also Read: Goldman Predicts Commodities Will Soar in 2019

Indian ADRs

Stocks To Watch

  • Sun Pharma entered into a definitive agreement to acquire 100 percent stake in Japan based-Pola Pharma for $1 million. The pharma company said that this acquisition will give commercial presence in dermatology segment in Japan. The pharma major along with its arm enters into settlement in the Modafinil Anti-Trust Litigation in the U.S. .The company said settlements extended to all claims brought by direct purchaser Plaintiffs and the terms of the settlement are confidential.
  • Nava Bharat Ventures and its arm signed a contract with Tata Power Trading for power supply of 125MW to Telengana State Grid. The contract commences from Jan. 15 to Apr. 30, next year at a price of Rs 5.75 per unit.
  • Unichem Laboratories received EIR for post marketing adverse drug experience inspection by U.S. FDA. The report indicates the closure of inspection which started from June 25-29.
  • IFCI received Rs 491.84 crore via NCLT on account of resolution passed by Binani Cements .The company holds 42.16 lakh security receipts in in the Binani Cements of face value of Rs 1,000 each
  • NMDC Apr-Oct Output: Production at 15.47 MT and Sales at 16.55MT.
  • Linde India’s acquisition from BOC Group, Praxair and Linde Holdings Netherlands BV triggered an open offer of its 25 percent equity stake to the public, payable by the acquirers amounting to Rs 589 crore if the full offer is accepted.

Also Read: Next Capital Infusion Of Rs 42,000 Crore In State-Owned Banks By Dec. 15

Media Reports

  • NIIT Technologies promoters are said to be exploring options to sell stake in the company. The promoters hold 30.62 percent stake in the company out of which NIIT owns 23.54 percent stake. (Economic Times)
  • South Korea’s Lotte seeks to buy ONGC’s OPAL (The Bell).

Offerings

  • SBI General Insurance plans IPO in 2020, Deputy CEO says.
  • Metropolis Healthcare gets SEBI’s approval for IPO.

Earnings To Watch

  • Reliance Capital
  • Vadilal Industries

Earnings Reaction To Watch

GIC Housing Finance (Q2, YoY)

  • Net interest income down 5.2 percent at Rs 89.8 crore.
  • Net profit down 1.1 percent at Rs 46.2 crore.

Who’s Meeting Whom

  • Tamil Nadu Newsprint and Papers to meet HDFC Fund on Nov. 27.
  • Ambuja Cement to meet JP Morgan AMC on Nov. 27.
  • Eicher Motors to meet JP Morgan Global on Nov. 27.
  • BSE to meet Hoskin Partners, Jupiter AMC and other investors on Nov. 27.

Insider Trading

  • JM Financial promoter group Vishal Kampani acquired 1.5 lakh shares on Nov. 22.
  • Axis Bank promoter United India Insurance sold 58,000 shares between Nov. 19-22.
  • Nitin Spinners promoter Nitin Nolakha acquired 52,000 shares between Oct. 10 – Nov. 22

(As reported on Nov. 26)

Money Market Update

  • Rupee snapped its seven-day rising streak and closed at 70.87/$ on Monday versus 70.69/$ on Thursday.

F&O Cues

  • Nifty November futures closed trading at 10,639,  premium of 11 points.
  • Nifty November open interest down 2.8 percent; Nifty Bank Nov open interest up 12.9 percent.
  • Max open interest for November series at 11,000 call option (open interest at 32.6 lakh shares)
  • Max open interest for November series at 10,500 put option (open interest at 42.3 lakh shares)

Stocks In F&O Ban

  • Adan Enterprises
  • Adani Power
  • Jet Airways
  • DHFL

Put-Call Ratio

  • Nifty PCR at 1.64 from 1.46.
  • Nifty Bank PCR at 1.34 from 0.94.

. Read more on Markets by BloombergQuint.