Stock Market: Trade Setup for Tuesday(Dec 22, 2020)

Top 10 things to know before Opening Bell

Smriti Singh

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Dstreet Games

6 min readDec 21, 2020

Global Indices

American Indices

Europe Indices

European markets are broadly lower today with shares in Germany off the most. The DAX is down 3.00% while London’s FTSE 100 is off 2.64% and France’s CAC 40 is lower by 0.39%.

Asian Indices

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.76%, while the Hang Seng led the Nikkei 225 lower. They fell 0.63% and 0.18% respectively.

Indian Indices

NSE

BSE

Sensex closed at 45,553.96, down 1,407 points, or 3 percent, and the Nifty settled at 13,328.40, down 432 points, or 3.14 percent.
The broader markets took a more severe beating, as the BSE midcap index plunged 4.1 percent and the smallcap index 4.5 percent.

Indian Sector Indices

NSE

BSE

Sectorally, the selling pressure was seen in the public sector, infrastructure index, metals, oil & gas and realty indices. The NiftyBank fell over 4 percent to 29,456.

Top Gainers & Losers

Gainers

Losers

IndusInd Bank, M&M, SBI, NTPC, ITC, Axis Bank, Power Grid, ICICI Bank, Sun Pharma, Bharti Airtel and Bajaj Finance were down 4–7 percent each.

ADR’s and FII/DII data

ADR

Cash FII/DII

F&O FII/DII (Index)

F&O FII/DII (Stocks)

Ahead of Market

Italy-based confectionery giant Ferrero to buy Eat Natural

Italy-based global confectionery major Ferrero Group has announced that it will acquire Eat Natural, the maker of high-quality cereal bars, toasted muesli and granola. The value of the deal has not been disclosed.

Eat Natural, a British cereal bars maker was created 23 years ago by two friends of the Indian origin — Preet Grewal and Praveen Vijh. It has now grown considerably in the healthier snacking segment.

On December 17, Ferrero Group announced that it will enter into a definitive agreement to acquire Eat Natural.

Ferrero, with a consolidated turnover of over 11.4 billion euros, is amongst the market leaders of the sweet packaged foods market worldwide.

It is the producer of many iconic brands including Nutella, Ferrero Rocher, Tic Tac, Kinder and Raffaello, which are sold in over 170 countries.

Mahindra’s South Korean arm Ssangyong Motor files for bankruptcy

Mahindra & Mahindra’s (M&M) South Korean arm, Ssangyong Motor Co (SYMC), filed for bankruptcy in a Seoul court on Monday, December 21, the Indian conglomerate said in a regulatory filing.

The SYMC has filed an application for commencement of rehabilitation procedure under the Debtor Rehabilitation and Bankruptcy Act of South Korea, M&M stated in its BSE filing.

The troubled car manufacturer has also applied for an autonomous restructuring support (ARS) programme, which is a court designed process, M&M added.

Burger King India share hits 10% lower circuit for third session

In a volatile trading session, Burger King India share fell 10% today for the third straight session.

In early deals earlier today, Burger King India shares opened with a loss of 8.33% at Rs 148 and hit 10% lower circuit at Rs 145.35 apiece on BSE as compared to the previous close of Rs 161.45.

Later, the share gained in afternoon trade to touch an intraday high of Rs 175, rising 8.39% on BSE. Burger King share ended 2.01% lower at Rs 158.20 on BSE.

The stock fallen 20.6% in the last 3 days.

The share has gained 14% in a week. Market cap of the firm stood at Rs 5,152 crore on BSE.

Stock Market Highlights

➢IDBI Bank raises Rs 1,435 crore via issue of equity shares to 44 investors

IDBI Bank has raised Rs 1,435 crore through an issue of equity shares to 44 qualified institutional investors, according to a regulatory filing. The bank had targeted to raise Rs 2,000 crore (base size Rs 1,000 crore and the green-shoe option of Rs 1,000 crore) through the QIP issue at a floor price of Rs 40.63 apiece.

The QIP committee of the board of directors at its meeting held on December 19, 2020, approved the issue and allotment of 3,71,808,177 equity shares to 44 eligible qualified institutional buyers at the issue price of Rs 38.60 per share, IDBI Bank said in a regulatory filing.

The shares were issued at a discount of 5 per cent to the floor price of Rs 40.63 apiece, it said. The QIP issue had opened on December 15 and closed on December 18, 2020.

Among the investors who were allotted more than 5 per cent of the equity shares in the QIP issue were Punjab National Bank (20.90 per cent subscription); Bank of Baroda (13.94 per cent); State Bank of India (13.93 per cent); Indian Bank (6.97 per cent); Canara Bank (6.97 per cent) and Societe Generale-ODI (5.66 per cent).

➢ONGC was the biggest loser among Sensex stocks, falling over 9 percent due to more than 5 percent correction in oil prices which were trying to stabilise above $50 a barrel recently due to likely increase in oil demand.

➢Tata Motors also fell more than 9 percent following strict lockdown measures in the United Kingdom where Jaguar Land Rover operates.

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