Indices at 10:30 am
▲ Nifty50 12,945 (+0.05%)
▲ Sensex 44,185 (+0.01%)
▲ Nifty Midcap 100 19,049 (+0.66%)
▲ Nifty Smallcap 100 6,164 (+0.64%)
In the news
Hero MotoCorp
- India’s largest two-wheeler maker said that it sold 14 lakhs units in retail sales during the festive period this year. That is 98% of the 2019 festive volumes and 103% in the same period in 2018.
- Investor concerns over the dealer inventory level have been put to rest as the company said it is now less than four weeks, the lowest ever post-festive inventory.
- The stock is a top gainer in the auto pack and is up 4% today.
Pfizer
- The US pharma giant has completed the vaccine trial and will apply for US authorization within a few days. It’s vaccine, which has a 95% success rate, is expected to be available in the US before the end of December this year.
- In India, mass-scale delivery of Pfizer’s vaccine seems hard given that it needs to be kept at -70 degree Celsius temperature.
- Shares of Pfizer’s Indian arm were up 3.6% today.
Snowman Logistics
- Shares of the leading cold storage service provider have caught investor attention after the news that the Covid-vaccine would require to be transported at sub-zero temperature levels.
- The company management has highlighted two key challenges in vaccine distribution, viz. volume to be distributed and the time constraint. It has further added that Snowman has capability to store vaccines as low as -30 degree Celsius.
- The stock is up 5.6% today and has soared over 70% in this month.
Sectoral indices
- Among the key sectoral indices, the Nifty Realty index was a top gainer (+2.8%) backed by rise in DLF (+3.6%) and Godrej Properties (4.6%).
- After a strong rally recently, banks are taking a breather today. The Nifty Bank index is down 0.6% today mainly due to ICICI Bank (-1.3%) and HDFC Bank (-1.1%).
Global markets
- Key Asian markets are trading in the red due to weak global cues as the Dow Jones ended lower (-1.1%) yesterday.
- Japan’s Nikkei 225 extended its decline from yesterday and is down 0.9% today. Hong Kong’s Hang Seng Index is down 0.5%. While China’s SSE Composite Index is nearly flat at +0.1%.
Fact of the day
India has the highest number of people not connected to the internet — 68.55 crore people, which is nearly 50% of its population.
Source: News21
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Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.