Nifty50: 18,701 ▲ 4 (+0.02%)
Sensex: 63,834 ▲ 33 (+0.05%)
Namaste, friends !
Talk about marking the ‘marriage’ market. A wedding invite that has gone viral invites guests to the couple’s IPO or ‘Invitation of Precious Occasion’. It speaks of how the bride and groom have decided to explore their F&O (futures and options) together and urges guests to ‘bless merged entities’. With the shaadi season well upon us, you would do well to brush up on your stock market terminology. Or better still, read this newsletter!
- Markets remained range-bound in a volatile session.
- In of the Nifty50 universe, 27 stocks gained.
- Investors are now keeping an eye on the RBI’s interest rate decision, which will be announced this week.
Among the Nifty sectoral indices, Metal (+1.8%) and PSU Bank (+1.2%) were the top gainers, while IT (-0.5%) and Oil & Gas (-0.3%) were the top losers.
| Top gainers | Today's change |
| Hindalco | 482 ▲ 20 (+4.5%) |
| TATA Steel | 115 ▲ 3 (+3.0%) |
| UPL | 803 ▲ 19 (+2.4%) |
| Top losers | Today's change |
| Apollo Hospitals | 4,775 ▼ 96 (-1.9%) |
| Reliance | 2,682 ▼ 40 (-1.4%) |
| Tata Motors | 429 ▼ 6 (-1.4%) |
What’s trending
⭐ M&M Finance hits 52-week high
M&MFIN (NSE): 241 ▲ 12 (+5.2%)
Shares of M&M Finance were in the spotlight after the company reported 75% year on year rise in its monthly disbursement to ₹4,500 crore in November. The company’s gross asset stands at nearly ₹76,300 crore. The company credited a positive macro environment for the growth. Auto and Utility vehicle financing makes up 34% of the company’s total disbursement portfolio.
⭐ Tea, Rice exports in hot water
DAAWAT (NSE): 144 ▼ 1.7 (-1.5%), KRBL (NSE): 422 ▼ 4.4 (-1.0%)
Iran, one of the key importers of tea and rice from India, has stopped signing new contracts. Traders blame the anti-hijab movements for the fall in demand. Others blame the slowdown in new orders on the Indo-Iran discussions on the rupee trade settlement. Iran imports nearly 35 million kg of tea and about 1.5 million kg of basmati rice from India every year.
⭐ Tata cars to get costlier
TATAMOTORS (NSE): 429 ▼ 6.2 (-1.4%)
Tata Motors plans to increase the prices of its passenger vehicles in the coming months. As per the company management, the price revision would help offset the impact of commodity prices, which have remained high for the most part of the year. The price hike will also help the company lessen the impact of new regulatory changes that will kick in from April 2023.
⭐ Avanti Feeds adds capacity
AVANTIFEED (NSE): 401 ▲ 3.8 (+0.9%)
Animal feed manufacturer Avanti Feeds started production at its new feed manufacturing plant in Andhra Pradesh. The new capacity addition of 1,75,000 MTs has been done at its existing plant at an estimated cost of ₹125 crores. The company’s total production capacity now stands at 7,75,000 MTs.
In Focus
Oil boils
Crude oil prices in the international market rose nearly 3% on Monday after Russia rejected the price cap set by G7 nations on Russian oil. The surge was also supported by OPEC+ policy to reduce oil production by 2 million barrels per day.
The G7 - an organisation of the world’s seven largest economies-had decided to cap the price of Russian oil at $60 a barrel to prevent Russia from making huge profits amidst Russia-Ukraine conflict. The cap came into effect from December 5. Meanwhile, India continues to purchase crude oil from Russia at a discount below the $60 price cap.
Crude prices have been easing globally. Prices had fallen 13% since the start of this fiscal year. Correspondingly, inflation in India also slowed down, coming in at 6.7% for November.
Any movement in global crude prices is particularly significant for India, which is among the largest exporters of crude, worldwide.
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Good to know
What are domestic institutional investors?
Domestic institutional investors (DIIs) are large investors that invest in securities in their home country. These include big organisations like mutual funds, banks and insurance companies. Just like foreign institutional investors, DIIs play a key role in the performance of stock markets, as they make large investments that can impact market movements.
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