The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 66 points.
On Thursday, the BSE Sensex reclaimed 61,000, rising 224 points to 61,134, while the Nifty50 gained 69 points at 18,191 and formed a long bullish candle on the daily charts, continuing bullish candle formation for fourth straight session.
As per the pivot charts, the key support level for the Nifty is placed at 18,047, followed by 17,991 and 17,901. If the index moves up, the key resistance levels to watch out for are 18,228 followed by 18,284 and 18,375.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
Wall Street's main indices closed higher on Thursday, led by growth stocks in light trading, as US unemployment data signaled the Federal Reserve's interest rate hikes might be starting to dent labor market strength in its bid to fight inflation.
The Dow rose 345.09 points, or 1.05 percent, to 33,220.8; the S&P 500 gained 66.06 points, or 1.75 percent, at 3,849.28; and the Nasdaq Composite added 264.80 points, or 2.59 percent, at 10,478.09
Asian Markets
Asian markets are trading mostly higher in the early trade on Friday with Taiwan Weighted up 1 percent, while Nikkei and Straits Times up marginally.
SGX Nifty
Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 66 points. The Nifty futures were trading around 18,346 levels on the Singaporean exchange.
Dollar
The dollar was on track for its best performance in seven years on Friday, having been buoyed by the Federal Reserve's aggressive monetary policy tightening and concerns about the global growth outlook.
The US dollar index, which measures the greenback against a basket of currencies, has surged more than 8 percent this year, the most since 2015. It was last 0.05 percent lower at 103.93.
Crude Oil
Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with Covid-19 infections spreading in the top oil-importing nation.
China's government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules on Chinese visitors in some countries.
Brent crude futures for February delivery fell by a dollar to settle at $82.26, down 1.2 percent. US West Texas Intermediate crude futures settled at $78.40 per barrel, down by $1.13, or 0.7 percent.
Gross NPAs of Indian banks fall to seven-year low in September: RBI Financial Stability Report
The gross non-performing asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to a seven-year low of five percent in September 2022, the Reserve Bank of India (RBI) said in its financial stability report (FSR) on December 29.
The net non-performing assets (NNPA) dropped to a 10-year low of 1.3 percent in September 2022, the FSR report said.
India's current account deficit surges to all-time high of $36.4 billion in July-September
India's current account deficit (CAD) surged to an all-time high of $36.4 billion in July-September, data released on December 29 by the Reserve Bank of India (RBI) showed.
The latest CAD figure is double the $18.2 billion posted in April-June and nearly four times of what it was in the second quarter of FY22.
The previous record for the highest CAD was $31.77 billion, posted in the third quarter of 2012-13. For 2021-22 as a whole, the CAD was $38.77 billion.
Analysts see muted listing for Elin Electronics on December 30
Electronics manufacturing services provider Elin Electronics is expected to start trading on the stock exchanges on a muted note on December 30. Though the initial public offering (IPO) subscription numbers were decent, but lower-than-expected, which may be a key reason for the expected muted listing.
Another key reason may be the volatility in the markets following the recent correction, analysts said. However, they pointed out that Elin’s public issue was attractively-priced compared to its peers Amber Enterprises and Dixon Technologies, and the company has strong financials (barring slight weakness in operating profit margin).
Sah Polymers mobilises Rs 30 crore via anchor book ahead of IPO
Packaging solutions provider Sah Polymers on December 29 raised nearly Rs 30 crore via anchor book ahead of the launch of its initial public offering (IPO).
Only three investors - Leading Light Fund VCC, Saint Capital Fund, and Maven India Fund - have made an investment in the company via anchor book.
Leading Light Fund VCC bought shares worth Rs 10.33 crore, while Saint Capital Fund and Maven India Fund picked stakes worth Rs 9.74 crore each.
FII and DII data
Foreign institutional investors (FIIs) have net offloaded shares worth Rs 572.78 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 515.83 crore on December 29, as per provisional data available on the NSE.
With inputs from Reuters and other agencies
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