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Sensex, Nifty Start On Tepid Note On Weak Global Cues; NTPC Top Gainer
In line with the weakness on the SGX Nifty, indices in India started on a tepid note after hitting fresh highs in Monday's (December 14, 2020) session. Nifty opened weak by 0.29% at 13520, while Sensex traded lower by 0.3% at 46113.
Early gainers in trade on the Sensex are NTPC, HDFC Bank, Bharti Airtel, Kotak Mahindra and HCL Tech while top losers include Axis Bank, Asian Paints, ICICI Bank among others.
Financials and banking stocks will be in focus once again as the SC is to resume the hearing on interest waiver case today.
As per a TV report, shares of DHFL will be in focus today after US-based Oaktree Capital Management has emerged at the top bidder for the NBFC company. Adani Group offered the lowest amount for the entire portfolio of DHFL as the deadline to make the bid ended this morning. And the amount quoted by Oaktree Capital for DHFL is Rs. 36,646 crores.The third suitor for the acquisition of the company has been Piramal Group. The scrip was down close to 5%.
Shares of NMDC traded after the company said its Rs. 1378 crore buyback offer will open on Thursday and end on December 31. The scrip was down 1.5%.
BPCL shares will also be in focus today as preliminary bids for government's stake sale (52.98 percent) in the company shall be evaluated. The share was up marginally.
The Rs. 540 crore Mrs Bectors Food IPO will go public today. The bakery and confectionary company has a strong presence in Northern India and sells bakery products and other goodies under the brand 'English Oven' and 'Cremica'.
At the time of writing this copy, most Asian markets were trading with losses as concern over rising coronavirus cases in various countries countered the optimism around roll out of the vaccine in the US.
Oil in trade today has slipped as demand concerns weigh again as Covid 19 led restrictions have been tightened in Europe. Also, escalation of tension in Middle-East resulted in oil price decline in early trade today.
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