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Live: Sensex, Nifty Extend Gains Led By IT, Energy Shares

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Suven Life Sciences Gains On Securing Product Patents

Shares of the Hyderabad-based drugmaker rose as much as 2.86 percent to Rs 228 after it secured two product patents in Brazil and Eurasia.

The patent is for New Chemical Entities used in treatment of Neurodegenerative diseases, Suven Life Sciences said in an exchange filing.

Sun Pharma Gains As Arm Gets Injunctive Relief By U.S. Court

Shares of the country's largest drugmaker rose as much as 2.50 percent to Rs 424 after its subsidiary Dusa Pharmaceuticals got Preliminary Injunctive Relief by U.S. federal district court prohibiting defendants Biofrontera from using Dusa’s proprietary trade secret information.

Earlier this year, the Sun Pharma arm filed a lawsuit against Biofrontera alleging trade secret misappropriation and patent infringement of the company’s photodynamic therapy patents and Levulan Kerastick drug.

F&O Check: Nifty's 10,800 Call Most Active Ahead Of Expiry

Nifty's 10,800 call option contract was among the most active option contracts on the National Stock Exchange.

Premium on the contract fell 12.42 percent to Rs 20.45. Over 7.55 lakh shares were added to the open interest which stood at over 33.34 lakh shares.

On the other hand, the Nifty's 10,800 put was the second most active option contract. Premium on the contract slumped 53 percent to Rs 33.70 and over 14.67 lakh shares were added to the open interest.

Click here to see the complete options chain

CIMMCO Slumps After Titagarh Wagons Start Share Sale Via OFS

Shares of the Noida-based railroad cars maker fell as much as 8.67 percent, the most since Dec. 10, to Rs 39 after its promoter Titagarh Wagons started sale of 15.4 lakh shares (5.64 percent equity) via offer for sale.

The floor price for OFS set at Rs 38 per share, which is at a discount of 11 percent to yesterday's closing price.

Oil Retailers Fall As Crude Surges Most In Two Years

Shares of the oil retailers declined after Brent crude gained the most since December 216, to close at $54.47 per barrel.

  • Indian Oil fell 1.5 percent intraday to Rs 132.70 apiece.
  • HCPL fell 1.6 percent to Rs 244.90.
  • BPCL declined 1.7 percent to Rs 360.10.

NBFCs Gain On Hopes Of Easier Regulations After Meeting With PM Modi

Shares of non-banking finance companies rose on hopes of easier regulations after representatives from non-banking finance companies and housing finance industry met Prime Minister Narendra Modi on Wednesday to seek easier norms regulating the sector as they battle a funding crunch.

The agenda for the meeting with the prime minister comprised a number of requests for easier regulations governing the NBFC and housing finance sectors.

  • Indiabulls Housing Finance up 1.57 percent
  • IIFL Holdings up 1.2 percent
  • PNB Housing Finance up 1.34 percent
  • GRUH Finance up 1.31 percent
  • Edelweiss Financial Services up 0.32 percent
  • Bharat Financial Inclusion up 1.90 percent
  • Dewan Housing Finance up 2.27 percent

Opening Bell: Sensex, Nifty Surge On Strong Global Markets

Indian equity benchmarks rose sharply mirroring gains in other Asian markets after the biggest rally in U.S. equities since 2009 offered relief from this month’s wrenching downturn.

The S&P BSE Sensex rose 0.88 percent or 312 points to 35,962 and the NSE Nifty 50 index rose 0.83 percent or 88 points to 10,819.

Reliance Industries, HDFC Bank and ICICI Bank were leading the rally ahead of expiry of December futures and option contracts later in the day.

All the 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Metal Index's 1.4 percent gain.

Pre-Market: Sensex Surges Over 350 Points, Nifty Above 10,800

Indian equity benchmarks rose sharply in the pre-market session taking cues from a strong rally in U.S. markets overnight.

The S&P BSE Sensex rose 352 points to 36,002 and the NSE Nifty 50 Index climbed 88 points to 10,817 compared with yesterday's close of 10,730.

Rupee Opens Lower At 70.21/$

Rupee opened lower at 70.21 per dollar against yesterday's close of 70.07 after crude extended its biggest advance in two years.

The local unit fell as much as 0.30 percent or 21 paise to 70.28 against the greenback.

Brokerage Radar: Motilal Oswal Maintains Buy On Petronet LNG And More!

Motilal Oswal on Petronet LNG

  • Maintained ‘Buy’ with a price target of Rs 317.
  • Increasing LNG glut to support prices.
  • Competition to remain moderate.
  • See strong earnings visibility.

Motilal Oswal on Indian Telecom

  • Earnings pressure persists; revival bleak.
  • High cash burn leading to dilution and asset sale.
  • Airtel’s cash burn & leverage situation reaching uncomfortable level.
  • Vodafone Idea on ventilator with six-to-eight quarters of cash even after recent dilution plan.

Edelweiss on Metals

  • LME aluminium slipped below $1,900 per tonne for the first time since August 2017
  • Weak Chinese demand in the second half of 2018 and further uncertainties to remain in 2019.
  • Prefer Hindalco among non-ferrous players.

F&O Cues: Maximum Open Interest At 11,000 Strike Price Call

  • Nifty December futures closed trading at 10,749, premium of 20 points.
  • Maximum open interest for December series call at 11,000 strike price, open interest at 44.0 lakh shares.
  • Maximum open interest for December series put at 10,500 strike price, open interest at 36.7 lakh shares.

Trading Tweaks: Rites, Sayaji Industries, Triveni Turbine And More!

  • Rites ex-date for interim dividend at Rs 4.75 per share.
  • Sayaji Industries ex-date for stock split from Rs 10 to Rs 5.
  • Triveni Turbine ex-date for share buyback.
  • Ortel Communications to move into ASM Framework.
  • SPL Industries price band revised to 10 percent.
  • Kushal price band revised to 2 percent.

Grasim Industries Promoter Raised Stake In Company

Insider Trades

  • Grasim Industries promoter Pilani Investment and Industries acquired 2,233 shares on Dec. 24.

Mahindra Logistics, Crompton Greaves Consumer To Meet Investors

Who’s Meeting Whom

  • Crompton Greaves Consumer Electricals to meet HDFC Securities on Dec. 27.
  • Mahindra Logistics to meet Motilal Oswal AMC and Morgan Stanley from Jan. 3 to Jan. 7.

Stocks To Watch: Sun Pharma, HUL, Man Industries And More!

  • Sun Pharma arm ‘Dusa Pharmaceuticals’ got awarded Preliminary Injunctive Relief by U.S. federal district court prohibiting defendants Biofrontera from using Dusa’s proprietary trade secret information. Earlier this year, the Sun Pharma arm filed a lawsuit against Biofrontera alleging trade secret misappropriation and patent infringement of the company’s photodynamic therapy patents and Levulan Kerastick drug.
  • Hindustan Unilever clarified on the news of GST Authority finding guilty of profiteering Rs 383 crore stating that no methodology has been determined by National Anti-Profiteering Authority as required under the law to determine if benefit has been passed or not. HUL will consider legal options available to it. On Dec. 24 the anti-profiteering authority ruled passed on order against the company to deposit Rs 223 crore.
  • Man Industries: Securities and Exchange Board of India slapped Rs 10 crore fine on three promoters of the company for failing to make an open offer to the company’s shareholders. The regulators conducted a probe in the shareholding of the company during June to September in the year 2010, while observing that shareholding of the promoter’s increased from 51.29 percent to 55.18 percent. Under the SEBI regulations, it is mandatory to make an open offer if the promoter’s shareholding crosses the threshold limit of 55 percent.
  • NTPC: Investment approval has been accorded for Bilhaur Solar Project of 140 MW capacity and Auraiya Solar Project of 20 MW capacity. Previously on Oct. 11, the company had won 160 MW solar capacities in Uttar Pradesh’s Energy Agency’s Solar Tender.
  • Entertainment Network (India) clarified that terrestrial broadcasting was disrupted for only 30 hours due to fire in its Mumbai’s Common Transmission Infrastructure and the amount of damage is not significant and the equipment of the company at these common infrastructures is already insured.
  • Cimmco’s promoter Titagarh Wagons to sell 15.4 lakh shares (5.64 percent equity) today and tomorrow through an offer for sale route. The floor price for OFS set at Rs 38 per share, a discount of 11 percent to the last regular trade.

Talking Points: NBFCs Seek Easier Regulations, Asian Debt Defaults Seen Rising And More!

SGX Nifty Indicates Positive Start For Indian Markets

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.26 percent or 27 points to 10,789 as of 7:17 a.m.

Asian stocks climbed on Thursday after the biggest rally in U.S. equities since 2009 offered relief from this month’s wrenching global market downturn.

Japanese benchmarks jumped about 4 percent at the open and Australian shares advanced more than 1 percent as trading resumed after holidays there. Korean stocks were flat, however, and U.S. futures dipped, suggesting the follow-through from the blow-out session on Wall Street -- where key indexes climbed about 5 percent or more -- has limits.

Stocks

  • The MSCI Asia Pacific Index rose 1.1 percent as of 9:08 a.m. in Tokyo.
  • Japan’s Topix gained 3.9 percent and the Nikkei 225 rose 3.8 percent.
  • Futures on the S&P 500 Index dipped 0.2 percent. The underlying gauge rose 4.96 percent at the close in New York, after falling within two points of a bear market earlier in the session. The Nasdaq 100 surged 6.2 percent and the Dow Jones Industrial Average rallied 1,086 points.
  • Futures on the FTSE China A50 climbed 1.2 percent earlier.
  • Kospi dropped 0.3 percent.

Currencies

  • The Bloomberg Dollar Spot Index climbed 0.3 percent Wednesday.
  • The euro was at $1.1365 after falling 0.3 percent.
  • The Japanese yen traded at 111.30 per dollar after sliding almost 1 percent Wednesday.
  • China’s offshore yuan was little changed at 6.8915 per dollar.

Commodities

  • West Texas Intermediate crude rose 0.6 percent to $46.49 a barrel after gaining 8.7 percent Wednesday.
  • Gold was flat at $1,269.48 an ounce.

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