Tuesday, November 30, 2021
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SGX Nifty up 80 points; here’s what changed for market while you were sleeping

Ahead of an extended weekend, the domestic equity market is likely to open on a higher note on Thursday, tracking global cues. Asian peers were trading higher, tracking dollar that took a breather after US inflation readings. Rising crude prices are a concern. Here’s breaking down the pre-market actions:


SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 78.5 points, or 0.43 per cent, higher at 18,258.50, signaling that Dalal Street was headed for a positive start on Thursday.

  • Tech View: Nifty50 on Wednesday formed a bullish candle, with analysts suggesting the bullish gap area of 18,050-18,008 should act as a critical support in the short term.
  • India VIX: The fear gauge rose 2 per cent to 16.10 level on Wednesday over its close at 15.85 on Tuesday.

Asian shares opened mostly lower
Major Asian shares opened higher on Thursday as concerns over US inflation eased, with the latest data broadly in line with market expectations. MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.43 per cent.

  • Japan’s Nikkei advanced 1%
  • South Korea’s Kospi soared 1.07%
  • Australia’s ASX 200 added 0.92%
  • China’s Shanghai gave up -0.02%
  • Hong Kong’s Hang Seng gained 0.23%

Wall Street settled mostly higher
US Stock settled mostly higher on Wednesday. The S&P 500 and Nasdaq advanced, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.

  • Dow Jones settled flat at 34,377.81
  • S&P 500 gained 0.30% to 4,363.80
  • Nasdaq jumped 0.73% to 14,571.64

Dollar pauses after rallying to one-year high
The dollar touched its lowest this week against major peers on Thursday, taking a breather from a rally that had lifted it to a one-year high powered by expectations for quicker Federal Reserve interest rate hikes.

  • Dollar index held steady at 94.016
  • Euro pinned flat at $1.1599
  • Pound little changed to $$1.3665
  • Yen exchanged hands at 113.37 per dollar
  • Yuan appreciated to 6.4366 against the greenback

Oil rises as winter approaches
Oil prices rose on Thursday, reversing previous losses, on expectations that high natural gas prices as winter approaches may drive a switch to oil to meet heating demand needs. Brent crude futures gained 28 cents, or 0.3 per cent, to $83.46 a barrel. US West Texas Intermediate (WTI) crude futures climbed 22 cents, or 0.3 per cent, to $80.66 a barrel.

FPIs buy shares worth Rs 937 crore
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 937.31 crore, data available with NSE suggested. DIIs turned net sellers to the tune of 431.72 crore, data suggests.

Q2 earnings today
HCL Technologies, Cyient, Century Textiles & Industries, Mahindra CIE Automotive, Indiabulls Real Estate, GPTL Hathway, Inox Winds, Den Networks, Ganesh Housing Corporation and Inox Wind Energy are among the companies that will announce their September quarter results today.


Rupee: The rupee on Wednesday rebounded by 15 paise to close at 75.37 against the US dollar following a rally in domestic equities and weak American currency in the overseas markets.

10-year bond: India 10-year bond eased 0.19 per cent to 6.31 after trading in 6.31 – 6.33 range.

Call rates: The overnight call money rate weighted average stood at 3.18 per cent on Wednesday, according to RBI data. It moved in a range of 1.95-3.40 per cent.


  • Q2 Results: HCL | Indiabulls Real Estate | Cyient
  • AU Unemployment Rate SEP (6 am)
  • CN Inflation Rate SEP (7 am)
  • IN WPI Fuel YoY SEP (12 pm)
  • IN WPI Manufacturing YoY SEP (12 pm)
  • IN WPI Food YoY SEP (12 pm)
  • IN WPI Inflation YoY SEP (12 pm)
  • EA ECB Enria Speech (12:30 pm)
  • GB BOE Credit Conditions Survey (2 pm)
  • US Fed Bostic Speech (7:30 pm)
  • US EIA Gasoline Stocks Change 08/OCT (8:30 pm)
  • US EIA Crude Oil Stocks Change 08/OCT (8:30 pm)
  • US Fed Williams Speech (10:30 pm)
  • US Fed Barkin Speech (10:30 pm)


Five banks may bid for Citi’s India consumer businesses
Five top lenders, including HDFC Bank and Kotak Mahindra Bank, are expected to submit binding bids for the Citi India consumer businesses before the October 26 deadline, two officials aware of the development told ET.

IndiGo sees Tata as ‘formidable competition’
India’s largest airline IndiGo NSE -1.12 % expects Tata Sons to be “formidable competition” once the conglomerate finalises its $2.4 billion purchase of Air India from the government, the budget airline’s chief executive said.

Big hotels sold out for Dussehra weekend
This could probably be the biggest spike in short-haul travel on a weekend after the catastrophic second wave as restrictions ease further across states following vaccinations and a lower case count. A MakeMyTrip spokesperson said the company is seeing a ‘strong’ demand for hotels and homestays during the upcoming long-weekend with many opting for a quick weekend getaway to the hills or to the beaches of Goa and Pondicherry.

Retail sales rebound in September
Retail sales in India have rebounded to 96% of pre-pandemic levels, thanks to a heightened consumer purchases from food to fashion products. A survey by the Retailers Association of India (RAI) said retail sales in September recovered 96% of 2019 levels, up from 88% in August.

Mundra Plant to bring relief to worst-hit states
Power crisis in five most-affected states is likely to ease soon as Tata Power restarted its mega power plant at Mundra on Wednesday after Punjab and Gujarat agreed to pay actual costs. Some other states are likely to follow.

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