Stock Market Today: All You Need To Know Going Into Trade On Dec. 5

As traders prepare for the market on December 5, it's essential to understand the recent trends and developments affecting the stock exchange.

Market Overview

The NSE Nifty 50 and BSE Sensex both closed higher on December 4, marking the fourth consecutive day of gains, with the best winning streak observed in recent months. The Nifty 50 finished at 24,467.45, up by 10.30 points or 0.04%, while the Sensex increased by 110.58 points or 0.14%, closing at 80,956.33. The gains over the last four sessions for the indices were reported at 1.39% for the Nifty and 1.45% for the Sensex.

During the trading session, Nifty rose as much as 0.47% to reach a peak of 24,573.20, while Sensex ascended 0.49% to 81,245.39, successfully reclaiming the 81,000 mark for the first time since October 21.

Investor Activity

Foreign investors continued to show interest in Indian equities, remaining net buyers for the second consecutive day. During this period, foreign portfolio investors accumulated stocks worth Rs 1,797.60 crore, while domestic institutional investors sold shares amounting to Rs 900.62 crore.

Trade Setup for December 5

The Nifty 50 is expected to test levels around 24,900, indicating potential upward momentum.

Key Stocks to Watch

• Indus Towers: Vodafone Group Plc plans to sell its 3% stake, amounting to 7.9 crore shares, to repay $101 million against borrowings linked to its Indian assets.
• Vodafone Idea: The board is set to discuss fundraising options up to Rs 2,000 crore in a meeting scheduled for December 9.
• Fusion Finance: The board has approved a rights issue to raise up to Rs 800 crore, while retaining the option for a preferential issue.
• Torrent Pharmaceuticals: The company has signed an agreement to acquire three anti-diabetes brands from Boehringer Ingelheim International.
• Hero MotoCorp: Launch of the VIDA V2 series of electric scooters has been announced.
• Bharat Forge: Initiated a qualified institutional placement aiming to raise Rs 1,650 crore with a floor price set at Rs 1,323.54 per share.
• Larsen & Toubro: Finalized a deal to acquire a 15% stake in E2E Networks.
• Indraprastha Gas: A proposal for a bonus share issue will be evaluated by the board on December 10.
• Sonata Software: Awarded the AWS Generative AI competency, showcasing its capability in advancing generative AI technologies.
• RailTel Corp: Secured a work order worth Rs 10.64 crore from Gail.
• Muthoot Microfinance: Announced its third interest rate cut for the year.
• Brigade Enterprises: Reported slow progress towards achieving its development target due to delayed approvals.
• Mastek: The global CFO, Arun Agarwal, has resigned.
• RPP Infra: Signed an agreement for the '96 Legends' development project in Sri Lanka.
• Bondada Engineering: Awarded a work contract worth Rs 109 crore from the Bihar Renewable Energy Development Agency.
• Suraj Estate Developers: Acquired a parcel of land in Mumbai for Rs 101 crore, with a projected gross development value of Rs 525 crore.
• Dynamic Services and Security: Received an offer letter for a solar project from the Maharashtra government.
• Vimta Labs: CFO Rama Narahai Naidu Dodda has resigned.
• PG Electroplast: Board approved a QIP to raise Rs 1,500 crore.
• Infosys: Partnered with Kardex to enhance business operations using SAP S/4HANA.
• Kirloskar Pneumatic: Acquired a controlling stake in Systems and Components.
• Lancer Container: Formed a partnership for vessel chartering operations.
• Rajesh Exports: Undergoing forensic accounting investigations per SEBI notifications.
• Unicommerce Solutions: Partnered with Hummel for e-commerce solutions.
• Ipca Labs: Secured approval for voluntary closure of a subsidiary in Mexico.
• Quick Heal Technologies: Launched the Seqrite malware analysis platform.
• Lemon Tree Hotels: Awarded a redevelopment project for Orchid Hotel by the Meghalaya government.

Market Movements & Adjustments

Block Deals: In a recent block deal, Saltoro Alpha LP acquired 1.71 lakh shares of Marathon Nextgen Realty. Meanwhile, Ratnamani Metals and Tubes saw sales from Nalanda India Fund.

Pledge Share Details: Promoter Anupama Kailash Katkar of Quick Heal Technologies cancelled a pledge on 13.5 lakh shares, while a new pledge of 37.5 lakh shares was established by a promoter of Paisalo Digital.

Money Market Insights

The Indian rupee is under pressure and recently closed lower after two days of declines, amid anticipation of the Reserve Bank of India's interest rate decision. It weakened by four paise to settle at 84.73 against the US dollar.

market, stocks, trade