SGX Nifty Trades Flat | Rising Crude Oil Prices | Ellin Electronics IPO | Top Buzzing Stocks Today

Tue, 20 Dec Pre-Open

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On Monday, Indian share markets continued their upward momentum and extended gains as the session progressed.

Benchmark indices registered healthy gains despite negative global cues and fear of recession gripping the market as stocks rose across the board.

IT sector stocks continued their downtrend and fell after Accenture Plc forecasted lower-than-expected sales for the upcoming quarter.

At the closing bell on Monday, the BSE Sensex stood higher by 468 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 151 points (up 0.8%).

Adani Ports, Mahindra & Mahindra, and Eicher Motors were among the top gainers.

TCS, Infosys, and ONGC on the other hand, were among the top losers.

Broader markets settled on a positive note. The BSE MidCap inched 0.6% higher while the BSE SmallCap index ended 0.3% higher.

If you're looking to midcap stocks that offer growth in the long run, check out the 5 midcap stocks for long term.

Sectoral indices ended on a mixed note yesterday with stocks in the FMCG sector, auto sector, metal sector and power sector witnessing heavy buying.

While stocks in the IT sector, and media sector witnessed selling.

From the best auto stocks, shares of M&M added 3.1% on the back of its EV business getting some momentum.

Shares of Britannia, Adani Enterprises, V Guard Industries hit their 52-week highs.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 82.7 against the US$.

Gold prices for the latest contract on MCX were trading higher by 0.3% at Rs 54,470 per 10 grams, at the time of Indian market closing hours on Monday.

At 7:50 AM today, the SGX Nifty was trading down by 21 points or 0.1% lower at 18,470 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Speaking of the stock market, Co-head of Research at Equitymaster Tanushree Banerjee talks about smallcap stocks for 2023, in her latest video.

In the video, she chalks out a few high-quality smallcap stocks that could be wealth-creating juggernauts over the next decade.

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Top Buzzing Stocks Today

UTI Asset Management share price will be in focus today.

Reportedly Tata Group is in talks to buy majority stake in the company from public sector undertaking (PSU) finance entities.

The stock has been in focus after state-owned Punjab National Bank (PNB) announced its plans to divest its holdings in the asset manager.

Specialty Restaurants will also be a top buzzing stock.

Yesterday the company announced that its board will meet on 21 December 2022.

The meeting of the board of directors of the company is scheduled to be held on Wednesday, inter-alia, to consider and evaluate proposals for raising of funds by way of issue of equity shares or any other eligible convertible securities, through permissible modes.

Market participants will also track the share price of Praj Industries.

On Monday the government lowered the GST rate on ethanol meant for blending under Ethanol Blended Petrol Programme to 5% from earlier 18%.

Ethanol manufacturers and ethanol plant manufacturers such as Praj Industries are likely to benefit from this development. Praj holds dominance in domestic ethanol plants.

Gold Prices Fall

Gold rates in India remained steady yesterday after some correction, mirroring a similar global trend. On MCX, gold futures were near one-week low of Rs 54,355 while silver edged up 0.2% to Rs 67,808 per kg.

Last week, gold had jumped above Rs 55,000 before seeing some profit-taking after Fed signalled more rate hikes in 2023. In international markets, gold rates were flat near US $1,791.5 (about Rs 140,833.8) per ounce while silver lost 0.4%.

A decline in dollar index supported gold while prospects of further interest rate hikes by the US Federal Reserve next year capped gains.

A weaker greenback makes bullion more attractive to holders of other currencies.

Gold registered its biggest weekly decline since mid-November on Friday after Fed Chair Jerome Powell said the US central bank would deliver more hikes next year, despite growing recession worries.

Ellin Electronics to Hit the Market Today

The initial public offering (IPO) of Elin Electronics is going to open for subscribers on 20 December 2022 and it will remain open for bidders till 22 December 2022. The public issue worth Rs 4,750 m aims to raise Rs 1,750 m from fresh issue whereas Rs 3,000 m of the net proceeds has been kept reserved for OFS (offer for sale) route.

As the public issue is going to hit primary markets today, shares of the company have become available in grey market. According to market observers, Elin Electronics shares are available at a premium of Rs 47 in grey market today.

Price band of the IPO has been fixed at Rs 234 to Rs 247 and finalization of share allocation is expected on 27 December 2022. The public issue is proposed for listing on BSE and NSE and probable listing date for the IPO is 30 December 2022.

The company manufactures and assembles a wide array of products and provides end-to-end product solutions. It is associated with branded clients. The topline of the Issuer is growing consistently.

Oil Prices on the Rise

Oil edged higher at the week's open on bullishness from the Biden administration's plan to begin refilling its strategic crude reserves and a pledge from China to revive consumption as covid zero is abandoned.

West Texas Intermediate rose towards US $75 a barrel after dropping almost 4% in the final two sessions of last week.

The US is starting to replenish the Strategic Petroleum Reserve, starting with a 3-million barrel, fixed-price purchase, the Department of Energy said on Friday, last week. The announcement caps a year that saw President Biden make unprecedented use of the SPR to help curb soaring domestic energy costs that followed Russia's invasion of Ukraine.

In China, the world's largest crude importer, top leaders including President Xi Jinping said restoring and expanding consumption should 'take the precedence' as they concluded a meeting setting economic priorities for 2023.

That pledge may help buttress energy demand even as Covid cases surge and the repoening process turns bumpy, with Shanghai shutting most schools again.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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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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