MARKET OUTLOOK
Indian equity markets made a slightly positive start and experienced volatility, ending slightly in the red as traders avoided taking positions ahead of the Christmas holiday. Retail inflation for farm workers and rural laborers dipped to 5.35 percent and 5.47 percent in November compared to 5.96 percent and 6 percent in October this year. China's finance ministry reaffirmed its plan to increase public spending with a focus on boosting consumption to support the economy next year. BoJ's meeting minutes revealed that policymakers agreed in October to keep raising interest rates if the economy moves in line with their forecast. Saurabh Garg, in a MoSPI statement, said that India needs to leverage data and make data-driven decisions if it wants to achieve a higher rate of growth. The near-term market trajectory hinges on the outcome of Q3 results and the Union budget, but caution prevails due to a strong dollar, high bond yields, INR hitting an all-time low, and concerns over rate cuts.
Morning Note
| Sensex | 78472.87 | -67.30 | -0.086% |
| Nifty 50 | 23727.65 | -25.80 | -0.11% |
| Nifty Bank | 51233.00 | -84.60 | -0.16% |
| Dow Jones | 42906.95 | +66.69 | +0.16% |
| SGX | 23764.50 | +25.50 | +0.11% |
NIFTY 50 FUT
CORPORATE NEWS
- Telecom subscriber base in India sees decline in October 2024: TRAI
- Indian data centre industry’s capacity set to more than double by fiscal 2027: Crisil
- Railway station redevelopment to offer Rs 30k cr business opportunities for EPC players: ICRA
- HG Infra Engineering’s arm enters into battery energy storage purchase agreement
- Reddy's Laboratories’ arm incorporates wholly-owned subsidiary in Finland
- Oberoi Realty executes agreement for development of land in Alibaug
- Royal Orchid Hotels to launch Regenta Evolife Dome City in Prayagraj
- TVS Motor acquires additional 39.11% share capital of DriveX
- PNB raises Rs 3000 crore through bonds
- Macrotech Developers raises Rs 300 crore through NCDs
- Gulf Oil Lubricants enters into strategic partnership with Nayara Energy
- Renaissance Global raises Rs 163.49 crore through preferential allotment of equity shares
- IndiGo reports passenger load factor of 90.3% in November
- TVS Holdings’ arm acquires 100% stake in Radial IT Park phase II, III
- SpiceJet reports passenger load factor of 87.9% in November
CORPORATE ACTIONS
| Symbol | Face Value | Purpose | Ex-Date | Record Date |
| RELIGARE | 10 | Annual General Meeting | 24-Dec-24 | - |
| GENCON | 5 | Annual General Meeting | 24-Dec-24 | - |
| NTL | 10 | Annual General Meeting | 24-Dec-24 | - |
| VEDL | 1 | Interim Dividend - Rs 8.50 Per Share | 24-Dec-24 | 24-Dec-24 |
| GOENKA | 1 | Annual General Meeting | 26-Dec-24 | - |
| SOUTHWEST | 10 | Extra Ordinary General Meeting | 26-Dec-24 | - |
| DHANBANK | 10 | Rights 14:25 @ Premium Rs 11/- | 27-Dec-24 | 27-Dec-24 |
| HARDWYN | 1 | Bonus 2:5 | 27-Dec-24 | 27-Dec-24 |
| MAZDOCK | 10 | Stock split from Rs 10/-Share To Rs 5/-Share | 27-Dec-24 | 27-Dec-24 |
| GVKPIL | 1 | Annual General Meeting | 27-Dec-24 | - |
| NMDC | 1 | Bonus 2:1 | 27-Dec-24 | 27-Dec-24 |
| BANCOINDIA | 2 | Bonus 1:1 | 30-Dec-24 | 30-Dec-24 |
| KAMDHENU | 10 | Stock split from Rs 10/-Share To Rs 1/-Share | 08-Jan-25 | 08-Jan-25 |
| SHRIRAMFIN | 10 | Stock split from Rs 10/-Share To Rs 2/-Share | 10-Jan-25 | 10-Jan-25 |
| Company | LTP | Resistance | Support | ||
| R1 | R2 | S1 | S2 | ||
| NIFTY 50 | 23,727.65 | 24024 | 24321 | 23395 | 23063 |
| NIFTY BANK | 51,233.00 | 51873 | 52514 | 50516 | 49798 |
| FINNIFTY | 23,737.60 | 24034 | 24331 | 23405 | 23073 |
| TATAMOTORS | 735.10 | 744 | 753 | 725 | 715 |
| ADANIENT | 2372 | 2402 | 2431 | 2339 | 2306 |
| EICHERMOT | 4800 | 4860 | 4920 | 4733 | 4666 |
| NESTLEIND | 2,170.00 | 2197 | 2224 | 2140 | 2109 |
| BPCL | 291.55 | 295 | 299 | 287 | 283 |
| ITC | 478.25 | 484 | 490 | 472 | 465 |
| DRREDDY | 1351.9 | 1369 | 1386 | 1333 | 1314 |
| TRENT | 6,995.00 | 7082 | 7170 | 6897 | 6799 |
| NTPC | 335.7 | 340 | 344 | 331 | 326 |
| COALINDIA | 385.30 | 390 | 395 | 380 | 375 |
| BRITANNIA | 4733 | 4792 | 4851 | 4667 | 4600 |
| TCS | 4182 | 4234 | 4287 | 4123 | 4065 |
| BAJAJ-AUTO | 8802.3 | 8912 | 9022 | 8679 | 8556 |
| KOTAKBANK | 1,750.00 | 1772 | 1794 | 1726 | 1701 |
| AXISBANK | 1081.9 | 1095 | 1109 | 1067 | 1052 |
| ASIANPAINT | 2,285.00 | 2314 | 2342 | 2253 | 2221 |
| TATACONSUM | 905 | 916 | 928 | 892 | 880 |
| M&M | 2,916.50 | 2953 | 2989 | 2876 | 2835 |
| ICICIBANK | 1298.95 | 1315 | 1331 | 1281 | 1263 |
| RELIANCE | 1224.2 | 1240 | 1255 | 1207 | 1190 |
| SUNPHARMA | 1,817.10 | 1840 | 1863 | 1792 | 1766 |
| BAJAJFINSV | 1563.9 | 1583 | 1603 | 1542 | 1520 |
| CIPLA | 1475.5 | 1494 | 1512 | 1455 | 1434 |
| HDFCBANK | 1,799.65 | 1822 | 1845 | 1774 | 1749 |
| HDFCLIFE | 622.00 | 630 | 638 | 613 | 605 |
| SHRIRAMFIN | 2,880.05 | 2916 | 2952 | 2840 | 2799 |
| TECHM | 1710 | 1731 | 1753 | 1686 | 1662 |
| LT | 3633 | 3678 | 3724 | 3582 | 3531 |
| BHARTIARTL | 1,583.00 | 1603 | 1623 | 1561 | 1539 |
| HINDUNILVR | 2,333.00 | 2362 | 2391 | 2300 | 2268 |
| HEROMOTOCO | 4,258.90 | 4312 | 4365 | 4199 | 4140 |
| TATASTEEL | 140.90 | 143 | 144 | 139 | 137 |
| HCLTECH | 1,892.05 | 1916 | 1939 | 1866 | 1839 |
| BEL | 292.65 | 296 | 300 | 289 | 284 |
| APOLLOHOSP | 7221 | 7311 | 7402 | 7120 | 7019 |
| ONGC | 239.25 | 242 | 245 | 236 | 233 |
| WIPRO | 305.75 | 310 | 313 | 301 | 297 |
| MARUTI | 10745.05 | 10879 | 11014 | 10595 | 10444 |
| HINDALCO | 629.00 | 637 | 645 | 620 | 611 |
| ADANIPORTS | 1,182.00 | 1197 | 1212 | 1165 | 1149 |
| BAJFINANCE | 6,810.00 | 6895 | 6980 | 6715 | 6619 |
| INDUSINDBK | 936.6 | 948 | 960 | 923 | 910 |
| ULTRACEMCO | 11,360.05 | 11502 | 11644 | 11201 | 11042 |
| SBIN | 813.00 | 823 | 833 | 802 | 790 |
| GRASIM | 2,500.00 | 2531 | 2563 | 2465 | 2430 |
| INFY | 1,903.35 | 1927 | 1951 | 1877 | 1850 |
| TITAN | 3359 | 3401 | 3443 | 3312 | 3265 |
| SBILIFE | 1,387.30 | 1405 | 1422 | 1368 | 1348 |
| JSWSTEEL | 923.80 | 935 | 947 | 911 | 898 |
| POWERGRID | 310.00 | 314 | 318 | 306 | 301 |
CHART OF THE DAY
