#MarketAtClose | Market closes in the red, but off intra-day lows, down for 4th straight day
Sensex & Nifty down more than 15% from record highs hit in oct 2021
Nifty Bank is now down more than 20% from record high
Sensex & Nifty down more than 15% from record highs hit in oct 2021
Nifty Bank is now down more than 20% from record high
Russia is demanding that Ukraine cease military action, change its constitution to enshrine neutrality, acknowledge Crimea as Russian territory and recognise the separatist republics of Donetsk and Lugansk as Independent territories , Kremlin Spokesperson Dmitry Peskov Said
*Nickel futures spiked by over 72%*
* Nickel futures spiked by over 72% in intraday session from Friday’s close, to just over 3795 on MCX while on LME prices tested $56,000 per metric ton at the peak, an all-time record, and then settled down a bit and is currently at $50,271 per metric ton, up by 73% in one day on the LME, the biggest spike in the history of the futures contract going back 35 years.
* Russia is the world's third-largest nickel producer, according to the US Geological Survey, with roughly two-thirds of global nickel production used to make stainless steel. Nickel is also key in the growing market for batteries used in electric vehicles. Last week, nickel already jumped 19% as futures speculators reacted to the sanctions that caused banks and metals suppliers to reduce their exposure to Russia, and as shipping companies avoided Russian ports.
* Russia is a large producer of nickel, supplying about 6% of global demand, according to Bloomberg. Over 70% of the nickel production is used in stainless steel. And 7% goes into EV batteries, where demand is growing in leaps and bounds. But EV batteries use highly pure “Class-1” nickel, of which Russia’s MMC Norilsk Nickel PJSC produces 17% of the supply.
* Liquidity deteriorated dramatically in the nickel market overnight as sellers rushed to the sidelines, leading to sharp price jumps between trades as short-position holders scrambled to buy back positions.
* The previous record of $51,800 per metric ton was reached in April 2007, during the mother of all nickel spikes, when the price surged from $10,000 per metric ton in October 2005 to $51,800 in April 2007, and then crashed back below $8,000 by December 2008. These commodities price spikes are madness. And they can go crazy for months, but they cannot last long term, as the 2007 episode has shown.
* “Price risks are skewed to the upside over the coming month across the metals complex,” said Citi, citing supply shortages for metals produced in Russia and Ukraine.
* LME nickel stocks, at 76,830 tonnes, are down 70% since April last year at the lowest in more than two years, and a fraction of demand estimated at around 3 million tonnes. “The continued fall in LME inventories and increased supply chain issues prompted the market’s scarcity pricing,” said ING.
* Disruptions to Russian nickel supplies exacerbating shortages pushed the premium for the cash over the three-month contract to $690 a tonne on Friday, the highest since 2007. It was last at $123 a tonne.
* Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of affordable electric vehicles. Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse the long-term trend of falling costs of batteries, the most expensive part of EVs, hampering the broader adoption of the technology.
* Tesla raised the price for its least expensive Model 3 sedan by 18% to $44,990 since December 2020, as supply chain woes weigh. Musk also said in January that Tesla is not developing a $25,000 car he promised during 2020 battery day, saying there are too many things on his plate.
* Nickel futures spiked by over 72% in intraday session from Friday’s close, to just over 3795 on MCX while on LME prices tested $56,000 per metric ton at the peak, an all-time record, and then settled down a bit and is currently at $50,271 per metric ton, up by 73% in one day on the LME, the biggest spike in the history of the futures contract going back 35 years.
* Russia is the world's third-largest nickel producer, according to the US Geological Survey, with roughly two-thirds of global nickel production used to make stainless steel. Nickel is also key in the growing market for batteries used in electric vehicles. Last week, nickel already jumped 19% as futures speculators reacted to the sanctions that caused banks and metals suppliers to reduce their exposure to Russia, and as shipping companies avoided Russian ports.
* Russia is a large producer of nickel, supplying about 6% of global demand, according to Bloomberg. Over 70% of the nickel production is used in stainless steel. And 7% goes into EV batteries, where demand is growing in leaps and bounds. But EV batteries use highly pure “Class-1” nickel, of which Russia’s MMC Norilsk Nickel PJSC produces 17% of the supply.
* Liquidity deteriorated dramatically in the nickel market overnight as sellers rushed to the sidelines, leading to sharp price jumps between trades as short-position holders scrambled to buy back positions.
* The previous record of $51,800 per metric ton was reached in April 2007, during the mother of all nickel spikes, when the price surged from $10,000 per metric ton in October 2005 to $51,800 in April 2007, and then crashed back below $8,000 by December 2008. These commodities price spikes are madness. And they can go crazy for months, but they cannot last long term, as the 2007 episode has shown.
* “Price risks are skewed to the upside over the coming month across the metals complex,” said Citi, citing supply shortages for metals produced in Russia and Ukraine.
* LME nickel stocks, at 76,830 tonnes, are down 70% since April last year at the lowest in more than two years, and a fraction of demand estimated at around 3 million tonnes. “The continued fall in LME inventories and increased supply chain issues prompted the market’s scarcity pricing,” said ING.
* Disruptions to Russian nickel supplies exacerbating shortages pushed the premium for the cash over the three-month contract to $690 a tonne on Friday, the highest since 2007. It was last at $123 a tonne.
* Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of affordable electric vehicles. Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse the long-term trend of falling costs of batteries, the most expensive part of EVs, hampering the broader adoption of the technology.
* Tesla raised the price for its least expensive Model 3 sedan by 18% to $44,990 since December 2020, as supply chain woes weigh. Musk also said in January that Tesla is not developing a $25,000 car he promised during 2020 battery day, saying there are too many things on his plate.
STOCKS in ACTION 8 Mar
Shree Ganesh Biotech India Ltd recommends 1:1 bonus issue
UPL: To Seek Board Nod For Share Buyback At EGM On March 30
Kings Infra Ventures raises funds through NCDs
Aavas Financiers: To Issue Non-Convertible Debentures Worth Up To 1b Rupees On Private Placement Basis
DCW: To Issue Non-Convertible Debentures Up To 3.5b Rupees || Co Approved Optionally Convertible Debentures Up To 600m Rupees
NATCO Launches First Generic Version of Revlimid® in the U.S. market
Dodla Dairy: Approved Purchase Of Asset Upto 550m Rupees company Approved Funding For Orgafeed Pvt Ltd Upto 400m Rupees
Sterlite Power secures INR 440 crores funding from Tata Cleantech Capital for Nangalbibra project
Greatship contracts to sell an R-class Platform Supply Vessel
Danlaw Technologies India Ltd to sell stake in Danlaw Technologies Inc
The Ramco Cements Ltd initiates afforestation program at Pandalgudi
NTPC: Official Says NTPC'S Thermal Capacity Expected To Grow At 4.3% Till Fy 2032
Future Retail: Shareholders, creditors to meet on April 20-21 to discuss the Reliance deal.
Axis Bank: Report on Citi India retail deal speculative. Lender denies taking any such decision
ICICI Prudential Life: February new business premium falls 22.8% year-on-year
Dish TV: SEBI passed an interim order against the company, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations. The capital markets regulator also directed the compliance officer to disclose the voting results of the AGM and told depositories to freeze the demat accounts of Dish TV’s directors and compliance officer until they are out
Shree Ganesh Biotech India Ltd recommends 1:1 bonus issue
UPL: To Seek Board Nod For Share Buyback At EGM On March 30
Kings Infra Ventures raises funds through NCDs
Aavas Financiers: To Issue Non-Convertible Debentures Worth Up To 1b Rupees On Private Placement Basis
DCW: To Issue Non-Convertible Debentures Up To 3.5b Rupees || Co Approved Optionally Convertible Debentures Up To 600m Rupees
NATCO Launches First Generic Version of Revlimid® in the U.S. market
Dodla Dairy: Approved Purchase Of Asset Upto 550m Rupees company Approved Funding For Orgafeed Pvt Ltd Upto 400m Rupees
Sterlite Power secures INR 440 crores funding from Tata Cleantech Capital for Nangalbibra project
Greatship contracts to sell an R-class Platform Supply Vessel
Danlaw Technologies India Ltd to sell stake in Danlaw Technologies Inc
The Ramco Cements Ltd initiates afforestation program at Pandalgudi
NTPC: Official Says NTPC'S Thermal Capacity Expected To Grow At 4.3% Till Fy 2032
Future Retail: Shareholders, creditors to meet on April 20-21 to discuss the Reliance deal.
Axis Bank: Report on Citi India retail deal speculative. Lender denies taking any such decision
ICICI Prudential Life: February new business premium falls 22.8% year-on-year
Dish TV: SEBI passed an interim order against the company, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations. The capital markets regulator also directed the compliance officer to disclose the voting results of the AGM and told depositories to freeze the demat accounts of Dish TV’s directors and compliance officer until they are out
*What Happened Overnight*
- S&P -2.95%, Nasdaq -3.62%
- UST yields higher; 5y +7 bps, 10y +4 bps to 1.77%
- Brent oil +5.2% to $124.24/bbl
- USD outperformed amid surging commodities
- #RussianUkrainianWar : No signs of de-escalation
- March FOMC pricing stayed at 22 bps
- S&P -2.95%, Nasdaq -3.62%
- UST yields higher; 5y +7 bps, 10y +4 bps to 1.77%
- Brent oil +5.2% to $124.24/bbl
- USD outperformed amid surging commodities
- #RussianUkrainianWar : No signs of de-escalation
- March FOMC pricing stayed at 22 bps
STOCKS in ACTION 9 Mar
Shalimar Paints: Approved The Raising Of Funds Of Upto 1.50b Rupees Via Issue Of Warrants On Private Placement Basis
Brookfield India: has approved allotment of 52,800,000 units at an Issue price of Rs 110.46 per unit to Westwood Business Consultancy. The transaction is part of its Space Teleinfra deal.
ZydusLifesciences : Sentynl Therapeutics and BridgeBio Pharma announce asset purchase agreement
ISGEC Heavy Engineering: Bags Large Order For Cement Waste Heat Recovery Boilers From Shree Cement
Bharat Forge: Subsidiary Kalyani Strategic Systems has incorporated Sagar-Manas Technologies, a joint venture with Open Joint Stock Company Dastan Transnational for upgradation and manufacturing/ providing solutions for marine and defense products
Yasho Industries Limited to consider capex for new greenfield project
Atul: Expands Sulphur Black Manufacturing Capacity To 26,000 MTA
Infosys: To collaborate on Dow Jones’ digital transformation
Adani Ports: Indian Oil Corp. Ltd. will add new oil tanks at Adani’s Mundra port for expansion.
Shyam Metalics and Energy commissions new capacity at Odisha, West Bengal
Jindal Stainless: Says We Are Witnessing Never-Seen- Before Spikes In Prices Of Nickel || Co Says Continue To Follow A Prudent Risk Management Policy To Sync Our Sales Order And Raw Material Booking
Indian Overseas Bank: The bank has reduced the base rate to 8.10% from the existing of 9.10% effective from March 10, 2022.
Indo Thai Securities Ltd makes further investment in Femto Green Hydrogen Ltd
Adani Ports and SEZ forms subsidiary company 'HDC Bulk Terminal Limited
Petronet LNG forms subsidiary in Singapore
JSW Steel: Exec Says Expect Coking Coal Prices To Start Correcting After A Month And Touch $300/Tonne Levels Soon After || Co Exec Says Expects India To Start Increasing Coking Coal Imports From Russia Once Ukraine Crisis Is Over
DB Corp : Dainik Bhaskar Brand Marketing Campaign for Digital Business App Awareness
Dish Tv : has disclosed the results of its annual general meeting held on Dec. 30, after SEBI's order directing it to do so. All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing
Shalimar Paints: Approved The Raising Of Funds Of Upto 1.50b Rupees Via Issue Of Warrants On Private Placement Basis
Brookfield India: has approved allotment of 52,800,000 units at an Issue price of Rs 110.46 per unit to Westwood Business Consultancy. The transaction is part of its Space Teleinfra deal.
ZydusLifesciences : Sentynl Therapeutics and BridgeBio Pharma announce asset purchase agreement
ISGEC Heavy Engineering: Bags Large Order For Cement Waste Heat Recovery Boilers From Shree Cement
Bharat Forge: Subsidiary Kalyani Strategic Systems has incorporated Sagar-Manas Technologies, a joint venture with Open Joint Stock Company Dastan Transnational for upgradation and manufacturing/ providing solutions for marine and defense products
Yasho Industries Limited to consider capex for new greenfield project
Atul: Expands Sulphur Black Manufacturing Capacity To 26,000 MTA
Infosys: To collaborate on Dow Jones’ digital transformation
Adani Ports: Indian Oil Corp. Ltd. will add new oil tanks at Adani’s Mundra port for expansion.
Shyam Metalics and Energy commissions new capacity at Odisha, West Bengal
Jindal Stainless: Says We Are Witnessing Never-Seen- Before Spikes In Prices Of Nickel || Co Says Continue To Follow A Prudent Risk Management Policy To Sync Our Sales Order And Raw Material Booking
Indian Overseas Bank: The bank has reduced the base rate to 8.10% from the existing of 9.10% effective from March 10, 2022.
Indo Thai Securities Ltd makes further investment in Femto Green Hydrogen Ltd
Adani Ports and SEZ forms subsidiary company 'HDC Bulk Terminal Limited
Petronet LNG forms subsidiary in Singapore
JSW Steel: Exec Says Expect Coking Coal Prices To Start Correcting After A Month And Touch $300/Tonne Levels Soon After || Co Exec Says Expects India To Start Increasing Coking Coal Imports From Russia Once Ukraine Crisis Is Over
DB Corp : Dainik Bhaskar Brand Marketing Campaign for Digital Business App Awareness
Dish Tv : has disclosed the results of its annual general meeting held on Dec. 30, after SEBI's order directing it to do so. All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing
Market Update:-
10th March very imp.. Weekly expiry along with Polling Result announcement..
Russia & Ukrain 4th round talk. Fed meet next week..
10th March very imp.. Weekly expiry along with Polling Result announcement..
Russia & Ukrain 4th round talk. Fed meet next week..
STOCKS in ACTION 10 Mar
PNB Housing Finance to raise Rs. 2500 crores through Rights Issue
Diligent Industries Limited board approves stock split
SPV Global Trading Ltd to consider rights issue terms on March 15, 2022
Uttam Sugar: has redeemed 1,00,000, 6.50% non-cumulative redeemable preference shares of Rs 100 each
Zydus receives final approval from USFDA for Nitroglycerin Sublingual Tablets
Kkalpana Industries gets NCLT approval for demerger
Jindal Stainless, Hisar, gets international certification in aerospace industry
J. Kumar Infraprojects: has bagged work order from Pune Municipal Corporation for development of Mula Mutha River from Bund Garden Bridge to Mundhwa worth Rs 604.75 crore. The company also received a letter of acceptance from Delhi Metro Rail Corporation worth 1,426 crore
Tata Power: Resurgent Power, in which the Tata Group firm holds 26% stake, has emerged as the successful bidder for South East UP Power Transmission
Gufic Biosciences enters into research collaboration with Selvax Pty Ltd
Aditya Vision Ltd opens its 76th showroom at Deoghar, Jharkhand
NTPC commissions commercial production at Unit 3 of Nabinagar Power project
Karnataka Bank partners with SELCO Solar Light Private Limited
Indian Overseas Bank increases interest rates on Deposits
Vakrangee : RBI renews the authorization issued to Vakrangee for White Label ATMs
Venus Remedies wins WHO GDP certification for quality services across entire supply chain
Lasa Supergenerics files another Suit for permanent injunction against one of its competitors
Future Lifestyle: has received termination notices on sub-leased properties from Reliance entities. Notices pertain to 34 Central stores and 78 Brand Factory stores that contribute 55-65% of retail revenue operations
Bharti Airtel Limited to acquire 9.012% stake in Avaada CleanTN Project Pvt Ltd
Restaurant Brands Asia completes acquisition of 87.75% in BK Indonesia
Brightcom Group Ltd allots 1.50 crore shares to Shankar Sharma
Jai Balaji Industries Ltd announces settlement with Canara Bank
PNB Housing Finance to raise Rs. 2500 crores through Rights Issue
Diligent Industries Limited board approves stock split
SPV Global Trading Ltd to consider rights issue terms on March 15, 2022
Uttam Sugar: has redeemed 1,00,000, 6.50% non-cumulative redeemable preference shares of Rs 100 each
Zydus receives final approval from USFDA for Nitroglycerin Sublingual Tablets
Kkalpana Industries gets NCLT approval for demerger
Jindal Stainless, Hisar, gets international certification in aerospace industry
J. Kumar Infraprojects: has bagged work order from Pune Municipal Corporation for development of Mula Mutha River from Bund Garden Bridge to Mundhwa worth Rs 604.75 crore. The company also received a letter of acceptance from Delhi Metro Rail Corporation worth 1,426 crore
Tata Power: Resurgent Power, in which the Tata Group firm holds 26% stake, has emerged as the successful bidder for South East UP Power Transmission
Gufic Biosciences enters into research collaboration with Selvax Pty Ltd
Aditya Vision Ltd opens its 76th showroom at Deoghar, Jharkhand
NTPC commissions commercial production at Unit 3 of Nabinagar Power project
Karnataka Bank partners with SELCO Solar Light Private Limited
Indian Overseas Bank increases interest rates on Deposits
Vakrangee : RBI renews the authorization issued to Vakrangee for White Label ATMs
Venus Remedies wins WHO GDP certification for quality services across entire supply chain
Lasa Supergenerics files another Suit for permanent injunction against one of its competitors
Future Lifestyle: has received termination notices on sub-leased properties from Reliance entities. Notices pertain to 34 Central stores and 78 Brand Factory stores that contribute 55-65% of retail revenue operations
Bharti Airtel Limited to acquire 9.012% stake in Avaada CleanTN Project Pvt Ltd
Restaurant Brands Asia completes acquisition of 87.75% in BK Indonesia
Brightcom Group Ltd allots 1.50 crore shares to Shankar Sharma
Jai Balaji Industries Ltd announces settlement with Canara Bank
Insider Trades
Chambal Fertilisers & Chemicals: Promoter SIL Investments bought 80,000 shares between March 7 and March 8.
Maharashtra Seamless: Promoter Group Sudha Apparels bought 2.18 lakh shares between March 7 and March 8.
Usha Martin: Promoter Peterhouse Investments sold 4 lakh shares on March 8.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,000 shares on March 8.
Apar Industries ;Promoter & Director Chaitanya N Desai bought 6,387 shares on March 8.
Bajaj Auto: Promoter Group Maharashtra Scooters bought 10,000 shares on March 7.
MAS Financial Services: Promoter & Director Kamlesh Chimanlal Gandhi bought 2,000 shares between March 7 and March 8.
Meghmani Finechem: Promoter Kaushal Ashishbhai Soparkar bought 1,000 shares on March 8.
Chambal Fertilisers & Chemicals: Promoter SIL Investments bought 80,000 shares between March 7 and March 8.
Maharashtra Seamless: Promoter Group Sudha Apparels bought 2.18 lakh shares between March 7 and March 8.
Usha Martin: Promoter Peterhouse Investments sold 4 lakh shares on March 8.
Vaibhav Global: Promoter Group Brett Enterprises bought 2,000 shares on March 8.
Apar Industries ;Promoter & Director Chaitanya N Desai bought 6,387 shares on March 8.
Bajaj Auto: Promoter Group Maharashtra Scooters bought 10,000 shares on March 7.
MAS Financial Services: Promoter & Director Kamlesh Chimanlal Gandhi bought 2,000 shares between March 7 and March 8.
Meghmani Finechem: Promoter Kaushal Ashishbhai Soparkar bought 1,000 shares on March 8.
*Russia Ukraine meeting updates*
*RUSSIA CONVEYED WILL CONTINUE ATTACK UNTIL DEMANDS MET*
*KULEBA: RUSSIA SEEKS SURRENDER, UKRAINE WONT SURRENDER*
*Impact: No signs of deescalation. Positive for commodities*
Source: Bloomberg
*RUSSIA CONVEYED WILL CONTINUE ATTACK UNTIL DEMANDS MET*
*KULEBA: RUSSIA SEEKS SURRENDER, UKRAINE WONT SURRENDER*
*Impact: No signs of deescalation. Positive for commodities*
Source: Bloomberg
FII / FPI & DII activity for 10-Mar-2022.
Net Trends in Fund Flows( in Cr. )
FIIs : -1,981.15
DIIs : 945.71
FII DERIVATIVES STATISTICS FOR 09-Mar-2022
INDEX FUTURES =
INDEX OPTIONS = 677.851,358.96
STOCK FUTURES = -178.80
STOCK OPTIONS = -151.07
NIFTY 50 Closed for the day, Dated : Mar 10, 2022 3:31 PM at : 16594.9 with change of 249.55 (1.53 %) from Yesterdays Closing 16345.35 . Days High : 16757.3 || Days Low : 16447.9
Net Trends in Fund Flows( in Cr. )
FIIs : -1,981.15
DIIs : 945.71
FII DERIVATIVES STATISTICS FOR 09-Mar-2022
INDEX FUTURES =
INDEX OPTIONS = 677.851,358.96
STOCK FUTURES = -178.80
STOCK OPTIONS = -151.07
NIFTY 50 Closed for the day, Dated : Mar 10, 2022 3:31 PM at : 16594.9 with change of 249.55 (1.53 %) from Yesterdays Closing 16345.35 . Days High : 16757.3 || Days Low : 16447.9
Insider Trades
Bajaj Holdings & Investment: Promoter group Bachhraj & Company bought 1.01 lakh shares between March 7 and March 8.
Elecon Engineering Company: Promoter group Akaaish Mechatronics bought 55,000 shares between March 7 and March 9.
Safari Industries (India): Promoter group Safari Commercial LLP bought 30,000 shares on March 9.
Vaibhav Global: Promoter group Brett Enterprises bought 1,500 shares on March 9.
Geojit Financial Services: Promoter BNP Paribas SA sold 1.25 lakh shares between March 7 and March 8.
Ramkrishna Forgings: Promoter & Director Chaitanya Jalan bought 16,000 shares between March 8 and March 9.
DB Corp: Promoter Bhawna Agarwal bought 59,482 shares between Feb. 28 and March 9.
Star Cement: Promoter & Director Sajjan Bhajanka bought 1.06 lakh shares on March 9.
NUVOCO VISTAS : Niyogi Enterprise bought 2 lakh shares on March 8.
KCP: Promoter Group S Nalini bought 905 shares between March 2 and March 4.
Bajaj Holdings & Investment: Promoter group Bachhraj & Company bought 1.01 lakh shares between March 7 and March 8.
Elecon Engineering Company: Promoter group Akaaish Mechatronics bought 55,000 shares between March 7 and March 9.
Safari Industries (India): Promoter group Safari Commercial LLP bought 30,000 shares on March 9.
Vaibhav Global: Promoter group Brett Enterprises bought 1,500 shares on March 9.
Geojit Financial Services: Promoter BNP Paribas SA sold 1.25 lakh shares between March 7 and March 8.
Ramkrishna Forgings: Promoter & Director Chaitanya Jalan bought 16,000 shares between March 8 and March 9.
DB Corp: Promoter Bhawna Agarwal bought 59,482 shares between Feb. 28 and March 9.
Star Cement: Promoter & Director Sajjan Bhajanka bought 1.06 lakh shares on March 9.
NUVOCO VISTAS : Niyogi Enterprise bought 2 lakh shares on March 8.
KCP: Promoter Group S Nalini bought 905 shares between March 2 and March 4.
Invest in a good growth mutual fund as soon as possible if you get a job...
In the next 15 years, the Indian market will rally like anything.
In the next 15 years, the Indian market will rally like anything.