Stock Market: Trade Setup for Thursday (Dec 24, 2020)

Top 10 things to know before Opening Bell

Smriti Singh

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5 min readDec 24, 2020

Global Indices

America’s Indices

The Dow Jones Industrial Average rose 114.32 points, or 0.38%, to 30,129.83, the S&P 500 gained 2.75 points, or 0.07%, to 3,690.01 and the Nasdaq Composite dropped 36.80 points, or 0.29%, to 12,771.11.

Europe Indices

European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.26% while France’s CAC 40 is up 1.11% and London’s FTSE 100 is up 0.66%.

Indian Indices

NSE

BSE

The BSE Sensex jumped 437.49 points or 0.95 percent to 46,444.18 on December 23 while the Nifty50 rose 134.80 points or 1 percent to 13,601.10
The broader markets outpaced the benchmark indices as the Nifty Midcap index was up 2.38 percent and Smallcap gained 2.73 percent.

Indian Sector Indices

NSE

BSE

Sectorally, the action was seen in the BSE Realty index, Metal, IT, and telecom stocks.

Top Gainers & Losers

Gainers

Losers

ADR’s and FII/DII data

ADR

Cash FII/DII

F&O FII/DII (Index)

F&O FII/DII (Stocks)

Ahead of Market

Xiaomi’s market valuation crosses $100 billion mark: Report

Chinese smartphone maker Xiaomi Corp.’s market value breached past the $100 billion mark on December 23, giving a reason for founder Lei Jun to rejoice. The Chinese firm has been looking to cross the figure since it listed two years ago.

Xiaomi’s stock surged as much as 9.1 percent on Wednesday at the Hong Kong stock exchange. With this, the Chinese smartphone maker emerged as 13th stock in the city’s benchmark Hang Seng Index to have a market capitalisation above $100 billion. Xiaomi ended the trading day 7.6 percent higher, with a market value of $103 billion (HK$802 billion), Bloomberg reported.

In May 2018, Xiaomi had eyed a $100 billion valuation for its initial public offering. However, it could reach only the half level on its debut, while its shares traded below the HK$17 offering price during the last two years as a public firm.

Infosys, Wipro win multi-billion dollar deals with German firms

The country’s two IT giants Infosys Ltd and Wipro Ltd bagged multi-billion dollar deals from Germany’s Daimler AG and Metro AG, respectively, on Tuesday.

Infosys has reportedly won its largest deal ever from German automotive manufacturer Daimler that is estimated at $3.2 billion. Infosys and Daimler AG deal is much bigger than the $1.5 billion Vanguard deal which was signed in August, this year.

The new multi-billion dollar deal between Infosys and Daimler involves infrastructure overhaul and migration of the hybrid cloud environment. The deal will boost Infosys’ presence in the automotive expertise, and for Daimler, it will help strengthen digital capabilities and core engineering.

After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data centre, networks and SAP Basis together with Infosys.

As a part of this transaction, Wipro will take over the IT units of Metro AG Metro-NOM GMBH in Germany and Metro Systems Romania S.R.L.

Stocks in the news

Mrs Bectors Food Specialities: Company to debut on bourses on December 24, final issue price has been fixed at Rs 288 per share.

Dish TV, Den Networks, GTPL Hathway, Hathway Cable etc in focus: Cabinet approved the change in norms to allow 100% FDI in DTH services, saying DTH licence will be issued for 20 years and licence fee will be collected quarterly.

Bharti Airtel: Company added 36.74 lakh users in October against 37.8 lakh additions in September, 2020.

Vodafone Idea: Company lost 26.56 lakh users in October against the loss of 46.53 lakh users in September.

Orient Bell: Equity Intelligence India & Porinju Veliyath increased shareholding in the company to 5.02% from 4.91% earlier.

ARSS Infrastructure Projects: Company received order for execution of work of 4 laning of Itanagar to Banderdewa section of NH-415 on EPC mode in Arunachal Pradesh.Stocks in the news