Global Market Cues

Global markets exhibited a positive sentiment overnight, setting an optimistic tone for Indian equities. US stock indices closed higher on Thursday, December 18, driven by an encouraging inflation report and robust earnings from technology firms. The S&P 500 advanced by 0.8%, the Dow Jones Industrial Average gained 0.1%, and the Nasdaq Composite climbed 1.4%, with Micron Technology's strong profit report helping AI stocks recover.

In Europe, markets largely closed higher on Thursday. The FTSE 100 rose by 0.65%, the CAC 40 increased by 0.80%, and the DAX saw a gain of 1.00%. The STOXX Europe 50 Index also ended the day 1.06% higher. This positive movement occurred despite initial caution ahead of central bank decisions, with the Bank of England cutting its key interest rate.

Asian markets are trading with positive momentum this morning. Japan's Nikkei 225 is up by 0.56%, South Korea's Kospi has advanced 0.68%, and Australia's S&P/ASX 200 is showing a 0.52% gain in early trade. The Hang Seng index in Hong Kong also closed 0.12% higher on December 18.

GIFT Nifty and Domestic Cues

GIFT Nifty (formerly SGX Nifty) commenced Friday's trading session on a positive note, opening at 25,948, up 0.29%. It is currently trading around 25,926.50, reflecting a gain of 0.19% or 49 points as of 02:33 AM IST. This upward trend in GIFT Nifty indicates a positive start for the Indian benchmark indices today.

On Thursday, December 18, Indian benchmark equity indices closed largely flat after a volatile session. The Nifty 50 settled marginally lower by 3 points at 25,815.55, while the BSE Sensex dipped 78 points (0.09%) to close at 84,481.81. Broader markets displayed a mixed performance, with the midcap index gaining 0.34% and the small-cap index declining 0.28%. The market lacked a clear directional bias due to the absence of fresh positive triggers, ongoing foreign fund outflows, and uncertainties surrounding India-US trade deal negotiations. However, Foreign Institutional Investors (FIIs) turned net buyers on December 18, with net purchases of Rs 596 crore, a positive sign. The India VIX eased to around 9.7, suggesting subdued volatility. The Rupee also showed some recovery, ending Thursday's session at 90.24 per dollar.

Key Stocks in Focus

• Bharti Airtel: The company has made the final call of Rs 401.25 for partly paid shares. Additionally, Bharti Airtel and Singtel have mutually agreed to amend their shareholders' agreement, with Singtel relinquishing certain key reserved rights.
• Ola Electric: The promoter has completed a one-time, limited monetization of a portion of personal shareholding to fully repay a loan, thereby eliminating all promoter pledges.
• HCL Technologies: The IT services company announced its acquisition of HPE's Telco Solutions Business for a total purchase price of up to USD 160 million.
• GPT Infraprojects: A joint venture involving GPT Infraprojects has secured a contract worth Rs 1,804.48 crore from the Municipal Corporation of Greater Mumbai (MCGM), with GPT's share amounting to Rs 469.16 crore.
• ICICI Prudential AMC: The IPO of ICICI Prudential AMC is scheduled for listing today.
• Bajaj Holdings, Waaree Energies, Premier Energies, and Swiggy: These companies are slated to be added to the Futures & Options (F&O) universe from December 31.
• Narayana Hrudayalaya: The board is set to meet shareholders and creditors on January 19 for approval of the merger scheme of Meridian Medical Research into the company.
• Hexaware Tech: The board has approved the merger of Softcrylic Tech Solutions & Mobiquity Softtech with the company.
• Mishra Dhatu Nigam: The company secured an order worth Rs 121.75 crore, bringing its open order position to approximately Rs 2,520 crore.
• Aeroflex Industries: The Board approved capacity addition for liquid cooling skids used in data centers and plans for robotic welding lines and an annealing plant.

Key Events to Watch Today

• US Inflation Data: The cooling US inflation reported overnight may influence global monetary policy outlooks.
• Bank of England Rate Cut: The BoE's decision to cut interest rates could impact global liquidity and investor sentiment.
• India-Oman Trade Agreement: Updates on the India-Oman trade pact will be closely watched.
• Anti-Dumping Duty on Chinese Steel: India's decision to impose anti-dumping duties on Chinese steel could affect related sectors.
• Accenture Earnings: Accenture's Q1 revenue rise, driven by AI, could provide cues for the IT sector.
• SEBI M&A Rule Changes: SEBI is proposing major amendments to merger and acquisition regulations, which could impact future deal timelines and investor protection.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update

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