The domestic equity benchmarks ended with decent gains after a volatile session on Wednesday. As per provisional closing data, the barometer index, the S&P BSE Sensex, added 47.51 points or 0.10% at 47,660.59. The Nifty 50 index advanced 49.45 points or 0.35% to 13,981.95.
In the broader market, the S&P BSE Mid-Cap index rose 0.53% while the S&P BSE Small-Cap index gained 0.37%.
The market breadth was positive. On the BSE, 1675 shares rose and 1275 shares fell. A total of 184 shares were unchanged.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 81,975,991 with 1,789,007 deaths. India reported 262,272 active cases of COVID-19 infection and 148,439 deaths while 9,834,141 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
The central government on Monday, 28 December 2020 extended the existing COVID-19 guidelines till 31 January 2021 as well as maintained strict surveillance and caution during this period amid concerns of new and highly infectious COVID-19 strain in the UK. The new Coronavirus variant discovered in the UK has now been detected in Taiwan.
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To prevent the spread of COVID-19, the Maharashtra government has extended lockdown restrictions in the state till 31 January 2021.
Economy:
The government has invited the protesting farmer' unions for talks today to end the impasse over the three farm laws. This will be the sixth round of talk between the government and farmers to end the deadlock. The centre has written to the 40 protesting farmers' unions and invited them for talks. Apart from the farm laws, discussions will be held on MSP and on legislations related to air quality and the electricity.
Buzzing Index:
The Nifty Auto index rose 1.34% to 9,164.80. The index declined 0.25% in the previous session.
Eicher Motors (up 2.46%), Maruti Suzuki (up 2.12%), Mahindra & Mahindra (up 1.69%), Hero MotoCorp (up 0.85%) and Tata Motors (up 0.75%) advanced while Bharat Forge (down 1.37%) and Ashok Leyland (down 0.21%) declined.
Stocks in Spotlight:
AstraZeneca Pharma India rose 2.34% to Rs 4645.20 after the Britain's health regulator approved emergency supply of Oxford-AstraZeneca COVID-19 vaccine in U.K.
AstraZeneca PLC in a press release on Wednesday said the UK Medicines and Healthcare products Regulatory Agency (MHRA) has provided authorisation for emergency supply of COVID-19 vaccine for the active immunisation of individuals 18 years or older.
AstraZeneca aims to supply millions of doses in the first quarter as part of an agreement with the government to supply up to 100 million doses in total.
Following the development, Wockhardt surged 7.71% to Rs 549.25. The scrip jumped 11.31% to hit the day's high at 558, from its intraday low of 501.30 in trade today.
Wockhardt in August this year announced entering into an agreement with the UK Government to fill finish COVID-19 vaccines. The manufacturing would be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.
As per the terms of the agreement, Wockhardt has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against COVID19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech and licensed by AstraZeneca.
JMC Projects (India) gained 2.41% to Rs 68.05. The company announced that it had secured building projects in South India worth approximately Rs 698 crore.
Jindal Steel & Power (JSPL) rose 3.55% to Rs 268.55. The steel maker was awarded 'Regular Supplier' status by Indian Railways for 60kg 880 grade (90UTS) Rails. JSPL has become India's first private company to get 'Regular Supplier' status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.
UPL rose 3.42% to Rs 470.30. The company said that it had completed the pre-payment of US$410 million of 3.25% Senior Notes due October 2021. This prepayment is in line with its commitment to reduce debt.
Coromandel International tumbled 5.64% to Rs 803.55 after the counter witnessed multiple block deals in early trade today, 30 December 2020.
E.I.D.Parry (India) said that it sold 58.50 lakh shares of Coromandel International in the open market at an average price of Rs. 803.1894 per share. Post the share sale, the company held 56.42% stake in Coromandel International as against 58.42% stake as on 30 September 2020. The company said that the proceeds of the sale will be used to bring down the debt of the company including its wholly owned subsidiary, Parry Sugars Refinery India and for general corporate purposes. The scrip jumped 5.84% to Rs 353.15 on the BSE.
Kalpataru Power Transmission added 3.30% to Rs 318.10 after the company said it has secured new orders/notification of award of about Rs 900 crore. The company said that its T&D (transmission and distribution) business has secured an order from the overseas market. The company has also received engineering, procurement, and construction (EPC) orders for pipeline laying and associated works in India.
Global Markets:
European stocks advanced on Wednesday. Lawmakers in the U.K. are to vote on Wednesday, whether to approve the post-Brexit trade deal reached by negotiators on Christmas Eve. Prime Minister Boris Johnson called on parliament to back the deal.
Most Asian shares ended higher on Wednesday. Today is the final trading day in 2020 for stocks in Japan and South Korea as their markets will be closed on Thursday.
China's 2019 GDP growth was revised downward to 6.0%, according to a statement released Wednesday by the country's National Bureau of Statistics. That compared against a pre-revision 2019 growth rate of 6.1%.
U.S. stocks declined moderately from record high on Tuesday, 29 December 2020, with all three indexes the S&P 500 index, the Dow Jones Industrial Average, and the technology-heavy Nasdaq Composite closing lower, as investors elected to cash in on the recent strength in the markets.
At the close of trade, the Dow Jones Industrial Average index declined 68.30 points, or 0.22%, to 30,335.67. The S&P 500 index was down 8.32 points, or 0.22%, to 3,727.04. The tech-heavy Nasdaq Composite Index dropped 49.20 points, or 0.38%, to 12,850.22.
President Donald Trump signed legislation late Sunday providing $900 billion in aid to individuals and businesses and $1.4 trillion to fund government agencies. Trump has called for the direct payments included in the bill to be increased to $2,000 from $600, and the House voted Monday to approve a measure increasing the size of the stimulus checks. However, Senate Majority Leader Mitch McConnell, R-Ken., blocked an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.
In U.S. economic data, the S&P Case-Shiller home price index for October showed a year-over-year rise of 7.9%, the fastest pace in six years.
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