Markets rallied on Tuesday to regain its control above the key resistance of 18580 on the back of upbeat global markets and a surge in USDJPY. The lower-than-expected US CPI data bolstered hopes that the Fed may not have to raise rates further todays expected 50 bps hike. However, US markets came off the highs to end with marginal gains after Dollar Index fell sharply.
Wall Street closed with gains after the US inflation surprise but came off intraday highs. Brent above $80 per barrel as dollar slumps of slowing inflation. Fed meets outcome today, 50 bps hike expected.
Nifty 50 index
Stocks to watch
Positive Read through
- Bank of Baroda- approves divestment of holding in Nainital Bank.
- GMR Hyderabad Airport raises Rs 1,150 cr via NCDs.
- NCD proceeds are to be used for partial refinancing of USD 140 m of existing ECB Bonds.
- HDFC and HDFC Bank – BSE and NSE give in-principle approval for the merger.
- Adani Transmission incorporates a wholly-owned subsidiary named Adani Cooling Solutions.
- UltraTech commissions 1.9 mtpa clinker-backed grinding capacity in Rajasthan.
- TVS Motors – plans to introduce Euro-5 compliant two-wheelers for Turkey customers.
- HDFC, HDFC Bank- BSE, and NSE give in-principal approval to the merger.
- Adani Transmission- incorporates a subsidiary named Adani Cooling Solutions.
- IFB Ind- to invest up to Rs 97 cr in IFB Refrigeration in 2 tranches.
- Patel Engg- to consider fundraising via rights issue on Dec 16.
Negative Read through
- Paytm announces open market buyback of Rs 850 cr, the total cost at Rs 1048 cr.
- Reliance Infra- Singapore court asks Co to pay Rs 1215 cr in Shanghai Electric Arbitration case.
- IIFL Wealth- General Atlantic Singapore sells 31.1 lakh shares (3.4% stake).
- Bayer Crop- discontinues operations at the formulations plant in Himatnagar, Gujarat.
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