Sensex, Nifty Likely To Open On Positive Note; Vedanta, SBI, Hero MotoCorp In Focus

The domestic equity market is expected to open higher on Friday positive strong handover from global indices.
Today, GIFT Nifty was down 0.09% at 7:34 am IST indicating that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted start on Friday. Asian shares mostly traded in the green in today's early morning trade.

Bulls dominated Indian markets on Thursday. At market close, the Sensex was up 1.34% at 70,514.20, and the Nifty was up 1.23% at 21,182.70 points.

All three leading U.S. indexes advanced, leaving them on track for weekly gains. The Dow finished at a record high for the second time this year. At the close in NYSE, the Dow Jones Industrial Average added 0.43% to hit a new all time high, while the S&P 500 index gained 0.26%, and the NASDAQ Composite index gained 0.19%.

FII and DII data

Foreign institutional investors (FIIs) net purchased shares worth Rs 3,570.07 crore, while domestic institutional investors (DIIs) bought Rs 553.17 crore worth of stocks on December 14, according to the provisional data available on the National Stock Exchange (NSE).

Gift Nifty

With a loss of 0.09% at 21,423.50 points, trends in the GIFT Nifty indicate a negative start for the Indian equity market.

Asian Markets

Asian shares mostly traded higher today. South Korea's Kospi was up 1% at 2,569.63 points, and the small-cap Kosdaq was up 0.25%. Topix was up 0.54%. Hong Kong's Hang Seng index futures were up 2.34%. Japan's Nikkei 225 rose 1.08% at 33,039.73 points in the early trade on Friday.

Buzzing Stocks:

Vedanta:

Vedanta Board will meet on on December 18 to consider and approve a second interim dividend for the current financial year, which ends on March 31, 2024. The company's shares last closed 0.61% higher at Rs 254.75 per share.

State Bank of India:

The country's largest state-owned lender has executed transaction documents for the purchase of 3,70,644 shares (6.35%) of Canpac Trends Private Limited. The stake will be bought at a price of Rs 1,349 per share.

PVR INOX:

Plenty Private Group and Multiples Private Group are expected to sell a 2.33% stake in the multiplex chain, said a CNBC-TV18 report citing sources. The offer price is likely to be in the range of Rs 1,750-1,769.5 per share, and the offer size may be Rs 404.5 crore.

Hero MotoCorp:

Hero MotoCorp has appointed Vivek Anand as its Chief Financial Officer (CFO). Additionally, the company has given a nod to the acquisition of an additional 3% stake in Ather Energy for Rs 140 crore.