Global Stock Market Updates, IPO Buzz, and Top Cues in Focus Today

Fri, 13 Dec Pre-Open

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On Thursday, Indian share markets traded on a positive note throughout the day and ended higher.

The BSE Sensex closed higher by 169 points to end the day at 40,582. Tata Motors and Yes Bank were among the top gainers.

While the broader NSE Nifty ended up by 62 points to end at 11,972.

Among BSE sectoral indices, metal stocks gained the most, followed by auto stocks and banking stocks.

Top Stocks in Action Today

Larsen & Toubro (L&T) share price will be in focus today as its's construction arm - L&T Construction's Heavy Civil Infrastructure business has secured a prestigious order from Rail Vikas Nigam (RVNL) for the construction of tunnels, bridges and formation works in the state of Uttarakhand.

Maruti Suzuki share price will also be in focus today as the company has partnered with Federal Bank to provide dealer finance and customized auto retail financing solutions to customers.

Market participants will also track Kotak Mahindra Bank share price.

InstantPay, one of India's largest inclusive and neo banking platform, has entered into a strategic partnership with Kotak Mahindra Bank's subsidiary - Kotak Mahindra Life Insurance Company to reach out to the billion uninsured and under banked population of India, including the urban migrant.

From the IPO Space...

EaseMyTrip is planning a Rs 7 billion maiden public share sale that will make it the first online travel agency to be listed in the Indian stock market.

Reports state that the company aims to file the draft red herring prospectus, with the capital markets regulator shortly.

Currently, two Indian online travel companies - MakeMyTrip and Yatra are listed on New York's Nasdaq. A media report recently cited a senior executive at Cleartrip as saying it will look at an IPO in 2-3 years.

In other news, after witnessing a massive subscription of more than 165 times last week in its Rs 7.5 billion IPO, shares of Ujjivan Small Finance Bank listed yesterday on the exchanges with 57% gains.

Earlier this month, USFB raised Rs 2.5 billion in a pre-IPO round.

The bank's parent microfinance lender Ujjivan Financial Services went public in 2016 after receiving an in-principle license from the Reserve Bank of India (RBI) to start a small finance bank.

The stock of Ujjivan Small Finance Bank closed 49.5% higher yesterday.

Fed Leaves Rates on Hold

The US central bank decided to keep rates unchanged and added that more rate changes were unlikely in 2020.

After cutting rates three times earlier this year, the US Fed left its benchmark rate at the target range of between 1.5% and 1.75%.

The Fed in a policy statement said that "the committee judges the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation near the symmetric 2% objective."

The policymakers added that they would continue monitoring global developments in deciding whether interest rates need to change.

Chairman Jerome Powell told reporters that the committee might consider widening reserves management-related treasuries purchases to include short-term coupon-bearing securities, if necessary, to ease liquidity strains in money markets.

Oil Gains amid OPEC Deficit Forecast

In news from the commodity space, oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in US crude inventories.

Crude stockpiles last week rose unexpectedly, gaining more than 800,000 barrels, compared with a Reuters poll that forecast a 2.8-million-barrel decline.

The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday said it now expected a small deficit in the oil market in the next year, suggesting the market is tighter than previously thought - even before the latest pact with other producers to curb supply takes effect.

However, the International Energy Agency (IEA) said that global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts.

It stated that inventories will also rise despite the lower expected production by the US and other non-OPEC countries.

It stated that despite the additional curbs and a reduction in our forecast of 2020 non-OPEC supply growth to 2.1 million barrels per day (bpd), global oil inventories could build by 700,000 bpd in Q1 2020.

How the above developments pan out and what effect it has on crude oil markets remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Speaking of crude oil, the Organization of Petroleum Exporting Countries (OPEC) and Russia last week agreed to cuts in oil production.

In the video below, Vijay Bhambwani shares interesting insights into this space. He talks about what to expect going forward.

Tune in to find out more...

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers