Market Summary

Nifty fell for the 2nd straight week with most of the indices posting losses.

Companies

ONGC (+5%) rose after the govt slashed windfall taxes on crude. Titan (-5%) declined due to profit booking. Adani Ports (-3%) declined after domestic fund managers trimmed their stakes in the company.

Sectors

Nifty PSU Bank (+1%) rose due to strong performance of UCO Bank, Union Bank and PNB. Nifty Oil & Gas (+1%) rose due to strong performance of GAIL, Oil India and ONGC. Nifty Media (-2%) declined due to weak performance of PVR, Zee Entertainment and Dish TV.

News of The Day

1.​​ Dilip Buildcon receives Letter of Acceptance for a NHAI road in Jharkhand. (Business Standard)

2.Tech Mahindra partners with Airtel to deploy a captive private network at Mahindra’s Chakan unit. (Mint)

3.Biological E gets DGCI nod to market Pneumococcal Conjugate vaccine in India. (Money Control)

4.Tata Motors (+1%) rose after the company signed an agreement with BMTC to supply 921 electric vehicles. (Business Standard)

5.NCPCR summons Byju's CEO over charges of course hard-selling, student exploitation. (Money Control)

Tribe Weekly

19 December: RBI will issue the next tranche of Sovereign Gold Bonds 2022-23 series. Kfin Technologies Limited IPO

20 December: Elin Electronics IPO

21 December: Nippon India Mutual Fund will declare Income Distribution cum income withdrawal on the face value of Rs 10/unit.

22 December: Precision Wires India, Sheela Foam Ltd, and Zim Wires Ltd will issue bonus shares.

23 December: Kama Holdings will buy back shares worth Rs 50 cr at Rs 14,000 per share.

Market Sentiment

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