Pre Market Analysis: Dalal Street may open gap down; SBI, Raymond and Vedanta in news today

Market Opening - An Overview

SGX Nifty futures were down 0.95% at 17,333.5, indicating a gap-down opening for benchmark Indian stock indices.

Asian stock markets fell on Tuesday as the fear of fast spread of Omicron variant dampened investors’ sentiments ahead of a slew of central bank decisions this week, including a key Federal Reserve meeting. Japan’s Nikkei fell 0.48%, Topix was little changed, Hang Seng dropped 1.02% and CSI 300 was down 0.51%.

Indian rupee was flat at 75.77 against the US dollar on Monday.

India’s statistics agency released the country’s CPI inflation data on Monday after market hours. India’s retail inflation rate rose to 4.91% in November from 4.48% in October as food inflation rose to 1.87% from 0.85% over this period. Inflation had a high base of 6.93% in November last year.

FII/DII Trading Data (13-12-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

State Bank of India (SBI): The country’s biggest lender requested staff to reconsider its decision to participate in a two-day strike (December 16-17, 2021) to avoid inconvenience to customers, investors, and the Bank. United Forum of Bank Unions (UFBU) has served a Notice of Strike to protest against the government’s plan to privatise public sector banks.

Raymond Ltd: The fabric and apparel manufacturer said it plans to raise Rs 100 crore from the market by issuing non-convertible debentures (NCDs). The company’s board will meet on December 17 to consider and approve the NCDs, according to its regulatory filing.

Vedanta Group: The Anil Agarwal-led group said it has withdrawn cases in the Delhi High Court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. In a statement, Vedanta said it has used the recently enacted law that scraps all demands levied using a 2012 retrospective tax legislation, to settle the dispute.

Vodafone Idea: The telcom company has partnered with Hungama Music to launch a music streaming service to drive digital adoption and monetisation. The company said that it will offer six months of premium subscription of Hungama Music at no extra cost to its customers.

Bharat Petroleum Corporation (BPCL): The company said it has collaborated with Bhabha Atomic Research Centre (BARC) to scale up Alkaline Electrolyser technology for Green Hydrogen production. BPCL in a statement said that this is a first of its kind initiative to support the country’s commitment to achieve renewable energy targets and reduce greenhouse gas emissions.