Weekly Market Analysis for December 2 to 6, 2024

FII selling continues; Gold Breaches 80K Mark; Adani Stocks bounce back; NSE Revises Expiry Days; SEBI Mandates Backup Trading and much more...

What happened last week?

Nifty closed the week at 24131, up 0.9% from last week.

After 8 weeks, it has made a higher high and a higher low. The first signs of a possible reversal.

We witnessed a postive start to the week driven by the victory of BJP Led Alliance in Maharashtra state assembly.

Banking stocks led the gains; HDFC Bank hit a record high. Most sectors ended in green.

FIIs sold ₹-5,026.77 Cr and DIIs bought ₹6,924.78 Cr in the cash market last week. FIIs sold ₹45,000 crore in November following heavy outflows of ₹1.14 lakh crore in October.

After 38 days of continuous selling, FII/FPIs turned net buyers with +₹9947 Cr on Monday. Much of this activity was concentrated in HDFC Bank, driven by an increase in its Foreign Inclusion Factor (FIF) and MSCI Rebalancing rather than a strucural FPI shift. More details here.

FIIs have increased their shorts on Index Derivatives compared to previous week.

This indicates that they might continue to remain net sellers at the Index level.

Nifty Sentiment Analysis…

Both Weekly and Monthly Max Pain of Nifty have inched slightly upwards. The sentiment is not as negative as it was 2 weeks back. Positional Traders have added long positions throughout the week.

Whenever the blue and the pink lines move upwards together we will turn bullish and when they move downwards together we will turn bearish. You can check more details here.

What else happened?

• Adani group stocks rose late in the week after clarification that Gautam Adani, Vineet Jain and Sagar Adani weren't charged under the FCPA.

• Gold prices have breached ₹80,000 per 10 grams in several cities in India.

• NSE has announced revision in expiry days of monthly contracts for BANKNIFTY, FINNIFTY, MIDCPNIFTY, and NIFTYNXT50, standardizing them to last Thursday of expiry month.

• SEBI has mandated NSE and BSE to serve as backup trading platforms for each other during technical outages, ensuring continuous market operations and protecting investor interests during disruptions.

Key Upcoming Events

December 2 (Monday):

- India Manufacturing PMI Data

December 4 (Wednesday):

- India Services PMI Data

December 6 (Friday):

- RBI Interest Rate Decision

- India Foreign Exchange Reserves Data

Key Stock Announcements

New Orders & Projects:

• BEML secures INR 3658 crore contract for metro rolling stock.

• Ashoka Buildcon wins INR 1,391 crore NHAI project for economic corridor.

• KEC International secures INR 1,114 crore orders across multiple business verticals.

• Premier Energies secures INR 1087 crore solar module orders.

• RVNL awarded INR 837.67 crore ER multi-tracking project contract.

• CG Power’s subsidiary wins KAVACH order from Indian Railways worth INR 500 - 600 crore.

• Talbros secures INR 475 crore orders; boosts exports and EV growth.

• NBCC secures INR 316 crore work order for Odisha school hostels.

• Surya Roshni secures INR 214.68 crore worth of orders.

• Sathlokhar Synergys E&C Global bags a new order worth INR 58.16 crore.

• Frog Cellsat secures 4G/5G Guwahati Airport OneDAS deployment contract.

• R.P.P Infra Projects Ltd has secured new orders worth INR 21.83 crore.

• Supreme Power Equipment Limited secures new order worth INR 15.95 crore.

• Marine Electricals secures INR 12.93 crore orders from Cochin, Adani.

• H.G. Infra secures INR 238,000/MW/month contract for battery storage.

• RVNL receives contract for Parbhani-Parli track doubling project from SCR.

• A B Infrabuild receives contract from Western Railways for construction project.

• BHEL secures HVDC project with Hitachi Energy India.

• DEV IT wins Bhavnagar Municipal Corporation contract for tax system.

• Waaree Energies receives 600 MWp solar module supply order.

• TCS extends SPARSH partnership, streamlining pensions for 30 lakh.

• RateGain partners with Kamat Hotels to boost direct bookings and visibility.

• BCL Industries to supply 60 lakh liters Extra Neutral Alcohol to RSGSM.

• Sarveshwar Foods' subsidiary secures 12,000 MT rice order.

• Australian Premium Solar secures INR 27 crore solar order for 2025.

• Vietjet Thailand partners with AirGain for fare precision and leadership.

Partnerships, Acquisitions & Investments:

• Mphasis partners with Haas F1 Team to revolutionize motorsport technology.

• Route Mobile (UK) acquires 99.9% stake in PT Route Mobile Indonesia.

• Dhanuka Agritech acquires Iprovalicarb and Triadimenol from Bayer AG.

• UPL partners with CH4 Global to reduce methane emissions in cattle.

• TIPS Music partners with TikTok to expand its global music reach.

• Gateway Distriparks acquires 4,79,925 Snowman Logistics shares via open market.

• HUDCO signs MoU with NBCC for 10-acre NOIDA project development.

• Reliance acquires 21% stake in Wavetech Helium for USD 12 million.

• L&T Mindtree partners with Microsoft to accelerate AI adoption.

• Lumax Auto acquires 60% of Greenfuel Energy for INR 153.09 crore.

• BLS E-Services acquires 57% stake in Aadifidelis for INR 123 crore.

• TII acquires 67% stake in Kcaltech for INR 62 crore.

• Suprajit forms joint venture with Chuo Spring to manufacture cables.

• TCS collaborates with IIT KGP on advanced digital health, robotics innovation.

• GAIL partners with INEOS to revive Mangalore PTA plant operations.

• AU SFB partners with Bharti AXA for comprehensive insurance solutions.

• ITC acquires 100% Greenacre Holdings for INR 42.10 crore.

• Adani Airport Holdings acquires 99% stake in Aviserve and Aviground.

• Hinduja Tech acquires TECOSIM, expanding global automotive engineering capabilities.

• TVS Motor acquires 39.11% in DriveX, increasing stake to 87.38%.

• Macrotech acquires Janus Logistics for INR 47.94 crore, strengthening infrastructure.

• DLF sells Kolkata Tech Park to RDB Primarc for INR 637 crore.

Business Operations:

• Marksans Pharma gets USFDA nod for allergy med Loratadine.

• Hyundai Motor India to set up 2 renewable energy plants.

• Prakash Industries secures mining lease for Bhaskarpara Coal Mine.

• Paras Defence opens new optical systems testing facility in Navi Mumbai.

• Paytm launches UPI Lite auto top-up for small payments.

• Angel One receives SEBI approval to launch mutual fund business.

• Interarch expands capacity, upgrades plants, and strengthens R&D initiatives.

• Crompton launches LED TabLight for domestic B2C lighting market.

• Stovekraft commissions new cast iron foundry in Harohalli.

• Zen Technologies gets patent for T90 Containerized Crew Gunnery Simulator.

• Ashoka Buildcon's bid for NH 116A Project 1 canceled; eligible for re-bidding.

• Glenmark launches generic Travoprost Ophthalmic Solution in US.

• EaseMyTrip launches EMT Desk, a corporate travel management platform.

• Tilaknagar Industries launches Monarch Legacy Edition luxury brandy.

• Dr. Reddy's launches Toripalimab in India for nasopharyngeal carcinoma treatment.

• Revolt Motors launches electric motorcycles in Sri Lanka.

• GAIL signs charter with "K" LINE for LNG transport.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This weekly update highlights market trends and upcoming events for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

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