Monday, December 6, 2021
HomeMarket Live UpdatesSGX Nifty up 25 points; here's what changed for market while you...

SGX Nifty up 25 points; here’s what changed for market while you were sleeping


After rallying for six straight sessions, domestic stocks may see a cautious start on Monday amid mixed cues from other Asian markets. Oil prices hit multi-year high, which is a cause of concern. All eyes are on China’s third quarter GDP data. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 25 points, or 0.14 per cent, higher at 18,429, signaling that Dalal Street was headed for a positive start on Monday.

  • Tech View: Nifty50 on Thursday ended up forming a bullish candle on the daily chart. Analysts said this rally can extend further and the 18,500 level is a possibility.
  • India VIX: The fear gauge fell 2.06 per cent to 15.77 level on Thursday over its close at 16.10.

Asian shares on edge in early trade
Asian shares were on edge on Monday morning ahead of the release of Chinese economic data for the third quarter. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trading on Monday, off 0.07 per cent.

  • Japan’s Nikkei declined 0.34%
  • South Korea’s Kospi fell 0.18%
  • Australia’s ASX 200 up 0.35%
  • China’s Shanghai fell 0.75%
  • Hong Kong’s Hang Seng dip 0.71%

Wall Street settled higher on Friday
Major indices ended higher again on Wall Street Friday, giving the S&P500 index its best week since July. Encouraging reports on the economy and corporate profits helped the market steady itself following a shaky few weeks.

  • Dow Jones added 1.1% to 35,294.76
  • S&P500 rose 0.7% to 4,471.37
  • Nasdaq added 0.5% to 14,897.34

Dollar wavering as global inflation surges
The dollar made a wobbly start to the week on Monday with the kiwi and sterling edging higher after a red-hot inflation readout in New Zealand and hawkish remarks from Britain’s central bank chief that put rate rises in investors’ sights.

  • Dollar index fell 0.5% to 93.9
  • Euro declined to $1.1587
  • Pound rose 0.1% to $$1.3762
  • Yen trades at 114.22 per dollar
  • Yuan firm at 6.4324 against the greenback

Brent prices rise to highest since Oct 2018
Oil prices hit new multi-year peaks, continuing their recent surge amid a global energy shortage, with US crude at a fresh seven-year high and Brent at a three-year high. Brent crude oil futures rose 87 cents, or 1 per cent, to $85.73 a barrel, the highest price since October 2018. US WTI crude futures climbed $1.12, or 1.4 per cent, to $83.40 a barrel, highest since October 2014.

FPIs buy shares worth Rs 1,682 crore
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1,681.6 crore on Thursday, data available with NSE suggested. DIIs were sellers to the tune of Rs 1,750.59 crore, data suggests.

Q2 results today
UltraTech Cement, L&T Infotech: Tata Coffee, Route Mobile, Alok Industries, Hatsun Agro Products and Hathway Bhawani Cabletel are among companies which will report their September quarter results today.

MONEY MARKETS


Rupee:
The rupee gained 11 paise to close at 75.26 against the dollar on Thursday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.

10-year bond: India 10-year bond rose 0.22 per cent to 6.328 after trading in 6.318-6.332 range.

Call rates: The overnight call money rate weighted average stood at 3.27 per cent on Thursday, according to RBI data. It moved in a range of 1.95-3.45 per cent.

DATA/EVENTS TO WATCH

  • Q2 Results: UltraTech Cement | L&T Infotech | Route Mobile
  • CN GDP Growth Rate YoY Q3 (7:30 am)
  • CN Industrial Production YoY SEP (7:30 am)
  • CN Retail Sales YoY SEP (7:30 am)
  • US Fed Quarles Speech (3 pm)
  • US Industrial Production SEP (6:45 pm)
  • US NAHB Housing Market Index OCT (7:30 pm)
  • US Monthly Budget Statement SEP (11:30 pm)

MACROS


Mauritius may be out of FATF Grey List this month

Global investors and offshore funds entering India through Mauritius are betting that in a few weeks the tax haven will shed some of its stigma and come out of the ‘grey list’ of the Financial Action Task Force (FATF) – an intergovernmental policy body that monitors the colour of money by setting anti-money laundering standards.

Average spot power prices drop as rains bring relief across states
Widespread rains dampening electricity demand and operationalisation of more imported coal-based generation units by Tata Power and Adani Power led to decline in average spot power prices by nearly three-fourths, signalling relief from the coal crisis in the country.

Car, two-wheeler sales lack sparkle
Retail sales of passenger vehicles and two-wheelers in the festive season’s initial phase appear relatively dull pan-India, in comparison with record property registrations in Mumbai. A chronic chip shortage and tepid demand for commuter motorcycles is causing a rare shrinkage in an otherwise booming consumer economy.

Indian tea exports may witness recovery
India’s tea exports, which suffered heavily owing to availability of Kenyan tea at lower prices in the global markets, may witness a recovery as the Kenyan government has fixed a minimum reserve price for tea to protect the interest of tea producers in the country.

Ecommerce sales boom this festive month
The share of e-commerce in the overall sales pie touched new highs in the first fortnight of this month, market trackers and companies said, with several categories, including smartphones, consumer electronics, apparel and daily necessities, growing faster than last year.



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