SGX Nifty pointed at a dismal opening for Nifty and Sensex on weak global trends. The sale of electronic products is referred to as “electronic commerce.”
Indian benchmark indexes BSE Sensex and NSE Nifty 50 are set to begin in red on negative global signals. SGX Nifty hinted to a gloomy opening for local markets as Nifty futures traded marginally down at 18449 level. “We’ve been witnessing this tendency that chosen heavyweights come to rescue the index during the correction phase and it’s no different this time. A definitive closing over 18,500 in the Nifty might push the rise further, or profit taking may resume. We advise remaining choosy and favoring the top performers in the participating sectors.
Keep a watch on overnight leveraged transactions as well because volatility is expected to continue, advised Religare Broking’s VP Of Technical Research Ajit Mishra.
Investing ideas for Tuesday, December 20th.
Dabur: Dabur India promoters are trying to sell shares worth over Rs 800 crore ($100 million) via a block auction on Monday, according to sources. According to the sources, the promoters might sell the interest at a 4% discount to the market price. They further stated that Goldman Sachs is the broker in charge of the block sale. Dabur India’s promoter and promoter group, which consisted of 26 shareholders as of September 30, had a 67.24% interest in the firm.
Wipro:Wipro Consumer Care made its debut into the packaged food and spice industry on Monday by purchasing Nirapara, one of Kerala’s best-selling traditional food brands. The size of the transaction was not revealed by the corporation. With this purchase, Wipro Consumer Care joins FMCG giants such as Dabur, Emami, Tata Consumer Products Ltd and ITC, who are already involved in the spices sector.
IRCTC: The Life Insurance Corporation of India (LIC) purchased a further 2.27% interest in IRCTC through open market transactions on October 17 and December 16, this year. With this, LIC’s stake in IRCTC climbed to 7.278%, up from 5.005% previously.
HDFC (Housing Development Finance Corporation): The term “responsibility” refers to the act of determining whether or not a person is responsible for his or her own actions. It is adjustable rate house loans (ARHL) are benchmarked on retail prime lending rate.
IndiGo: IndiGo recovered the top place in the on-time performance (OTP) category in November but its market share was the poorest since May. According to statistics supplied by the Directorate General of Civil Aviation, at least 92.5% of IndiGo flights arrived on time in Bengaluru, Delhi, Hyderabad, and Mumbai (DGCA). IndiGo’s market share declined to 55.7% in November from 56.7% in October 2022.