Stock Market: Trade Setup for Friday(Dec 18, 2020)

Top 10 things to know before Opening Bell

Smriti Singh

Published in

Dstreet Games

6 min readDec 18, 2020

Global Indices

America’s Indices

The Dow Jones Industrial Average jumped 0.49% on thursday.The S&P 500 index popped 0.58%. The Nasdaq composite advanced 0.84%.

Europe Indices

European markets finished mixed as of the most recent closing prices. The DAX gained 0.75% and the CAC 40 rose 0.03%. The FTSE 100 lost 0.30%.

Asian Indices

Indian Indices

NSE

BSE

The Sensex closed 223 points higher at 46,890, while the Nifty50, ended the day with gains of 58 points at 13,741.
the overall market breadth was negative and broad market indices like Nifty Midcap and Smallcap closed 0.27 percent lower and 0.15 percent higher respectively.

Indian Sector Indices

NSE

BSE

Sectorally, action was seen in finance, capital goods, realty, while metals, oil & gas and utilities saw some profit-taking.

Top Gainers & Losers

Gainers

Losers

Positive setup was seen in Jubilant Foodworks, Page Industries, SRF, Berger Paints, HDFC, Bajaj Finance, Bharat Electronics, Divis Labs and TCS while weakness was seen in PNB, BOB, RBL Bank, Maruti Suzuki, PVR and Petronet LNG

ADR’s and FII/DII data

ADR

Cash FII/DII

F&O FII/DII (Index)

F&O FII/DII (Stocks)

Ahead of Market

Equity Intelligence India picks up 0.6% stake in BEML, ICICI Bank buys 0.6% shares in Majesco

・Investor Porinju Veliyath-owned Equity Intelligence India has acquired 0.63 percent equity stake in BEML, the state-owned heavy equipment manufacturer, via open market transaction on December 17.

・Equity Intelligence India bought 2.65 lakh equity shares in BEML (representing 0.63 percent of total paid-up equity) at Rs 847.63 per share, the bulk deals data available on the National Stock Exchange (NSE) showed.

Google wins EU antitrust nod for $2.1 billion Fitbit deal

・Alphabet’s Google won EU antitrust approval on December 17 for its $2.1 billion bid for Fitbit after agreeing restrictions on how it will use customers’ health related data.

・The deal had triggered criticism from privacy advocates on both sides of the Atlantic, consumer organisations and Google rivals about the company’s market power and the use of people’s health data in targeted advertising.

・Fitbit, once the leader in the wearable devices market, has lost market share to Apple, Xiaomi, Samsung and Huawei in recent years.

BPCL board approves buying out Oman Oil’s stake in Bina refinery

・Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on December 17 said its board has approved buying out Oman Oil Company’s stake in the Bina refinery project in Madhya Pradesh on mutually agreeable terms. The BPCL board at its meeting on Thursday also approved merging Bharat Gas Resources Ltd (BGRL) with itself, the company said in a filing to the stock exchanges.

・The board also approved a proposal to approach the Madhya Pradesh government for acquiring 2.69 crore warrants held by it in BORL. BPCL said BORL was incorporated in February 1994.

・BORL became a subsidiary of BPCL in March this year when it converted warrants into shares, taking the state-owned refiner’s stake in the erstwhile equal joint venture to 63.38 percent. In addition to the equity investment in BORL, BPCL had subscribed to zero percent compulsorily convertible debentures of Rs 1,000 crore and share warrants of Rs 1,585.68 crore, which on conversion would turn BORL into a subsidiary of BPCL.

Toscafund to buy UK broadband firm TalkTalk in $1.5 billion deal

・British broadband company TalkTalk said on December 17 it has agreed a 1.1 billion-pound ($1.5 billion) takeover by shareholder Toscafund and private-equity investor Penta.

・The buyers said TalkTalk would be able to access more debt and equity options as a private company and would not face the regulatory burdens of being listed.

・The value of the 97 pence-per-share agreed offer is unchanged from a proposal from Toscafund, the second largest shareholder in TalkTalk with a 29.5% stake, on Oct 8.

・The deal has the backing of TalkTalk founder and chairman Charles Dunstone, who owns nearly 30%. He said he was pleased to have the opportunity to continue to be a major shareholder.

Burger King shares take first fall, hit 10% lower circuit after rallying 265%

・Shares of the quick-service restaurant (QSR) chain Burger King India plunged 18 percent from the intraday high in the afternoon trade and closed 10 percent lower on December 17 after surging for three days.

・The stock opened in the upper circuit and rose 10 percent to Rs 219.15 on the BSE, taking the four-day gains to 265 percent over its issue price of Rs 60 per share. But in the afternoon, it wiped out all its gains and was locked in 10 percent lower circuit as it closed at Rs 179.35, the first fall for the counter after its market debut.

・As a result, the company’s market capitalisation also dropped to Rs 6,844.98 crore, compared to Rs 8,363.96 crore in the morning. It was, however, still higher than that of its closest peer Westlife Development’s Rs 6,802.47 crore as the shares of the McDonald’s operator also corrected 7 percent.

Stocks in the news

➢TCS: The company’s Rs 16,000-crore share buyback offer opens on December 18.

➢Dishman Carbogen: Promoter to sell 4.4 percent stake in the company via offer for sale on December 18 and December 21; floor price is set at Rs 145.70 per share.

➢Zee Entertainment Enterprises: The board approved the acquisition of film production & distribution business as a going concern, on a slump sale basis from Zee Studios, and approved the transfer of the digital publishing biz division to Rapidcube Tecbnologies. The board also approved the appointment of Sasha Mirchandani & Vivek Mehra as independent directors.

➢IDFC: Sipadan Investments (Mauritius) sold 2.17 percent stake in IDFC during November 23-December 16, reducing total shareholding to 7.3 percent.

➢ISGEC Heavy Engineering: The company secured a new order for Rs 431 crore.

➢Trent: Arisaig India Fund sold 2.05 percent stake in the company via open market transactions, reducing total shareholding to 5.54 percent.

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