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Trends on SGX Nifty indicate a positive opening for the index in India with a 30-point gain.

December 30, 2021 / 08:12 AM IST
Stock market news

Stock market news

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 30-point gain.

The BSE Sensex was down 91 points at 57,806.5, while the Nifty50 fell 20 points to 17,213.6 and formed a Doji kind of pattern on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 17,164.9, followed by 17,116.2. If the index moves up, the key resistance levels to watch out for are 17,274.1 and 17,334.6.

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 that could impact Indian as well as international markets:

US Markets

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The Dow and S&P 500 closed at all-time highs on Wednesday on a boost from retailers including Walgreens and Nike, as investors shrugged off concerns on the spread of Omicron variant.

The Dow Jones Industrial Average rose 90.42 points, or 0.25%, to 36,488.63, the S&P 500 gained 6.71 points, or 0.14%, to 4,793.06 and the Nasdaq Composite declined 15.51 points, or 0.1%, to 15,766.22.

Asian Markets

Asian markets got off to a listless start on Thursday as the spread of Omicron clouded the last trading day of the year for many exchanges around the globe, while oil was close to finishing 2021 with gains of more than 50 percent.

Japan’s Nikkei slipped 0.7 percent on Thursday, which left the index with a modest gain of 4.6 percent for the year and some way off its three-decade top reached in September. Tokyo will be shut on Friday.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 30-point gain. The Nifty futures were trading at 17,243 on the Singaporean Exchange at around 07:35 hours IST.

Oil prices edge higher as US oil inventories fall

Oil prices rose on Wednesday, after government data showed US crude and fuel inventories fell last week, offsetting concerns that rising coronavirus cases might reduce demand.

Brent crude rose 29 cents to settle at $79.23 a barrel. US West Texas Intermediate (WTI) crude rose 58 cents to settle at $76.56 a barrel.

ICRA upgrades telecom services industry outlook to 'stable' amid tariff hike, relief measures

The telecom tariff hike along with the recent relief package offers sufficient headroom for the industry to undertake deleveraging as well as fund capex for 5G tech upgrade, ICRA said on Wednesday, revising outlook on telecom services sector to 'stable' from 'negative'. The hikes coupled with consistent upgradation of subscribers to 4G from 2G and increase in usage of services is expected to boost industry ARPU (average revenue per user) to around Rs 170 by the end of FY2023, it said.

Sebi specifies fine, action to be taken in case of non-compliance by non-convertible securities issuers

Markets regulator Sebi on Wednesday introduced guidelines for levying fines and taking action for non-compliance with continuous disclosure requirements by the issuers of listed non-convertible securities and commercial papers. The circular will come into force for the due dates of compliances falling on or after February 01, 2022.

The fines realised need to be credited to the Investor Protection Fund of the concerned stock exchange. The fines will continue to accrue till the time of rectification of the non-compliance and to the satisfaction of the concerned recognised stock exchange.

RBI Financial Stability Report: At 4.56%, fintech loan delinquencies higher than that of private banks, NBFCs

Delay in loan repayments and defaults are rising in the fintech-led consumer credit space, according the Reserve Bank of India's annual Financial Stability Report. Delinquency levels were at 1.82 percent of loans sanctioned by fintechs in September 2020 and that number increased to 4.56 percent in September this year, according to data by credit information company TransUnion CIBIL.

The data is based on repayments due past 90 days, which in banking are categorised as non-performing assets. At 4.56 percent, fintech loan delinquencies are much higher than that of private sector banks and non-banking financial companies or housing finance companies.

Gold holds above $1,800 as weak dollar checks yield pressure

Gold prices steadied above the key $1,800 per ounce level on Thursday as a weak US dollar, which makes bullion attractive for holders of other currencies, balanced pressure from firm Treasury yields which erode the metal's appeal.

Spot gold was steady at $1,803.03 per ounce by 0059 GMT. US gold futures were down 0.1% at $1,804.30. Benchmark 10-year US Treasury yields firmed near a one-month peak, raising the opportunity cost of holding non-interest paying gold.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 975.23 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,006.93 crore in the Indian equity market on December 29, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Three stocks - Indiabulls Housing Finance, Vodafone Idea, and RBL Bank - are under the F&O ban for December 30. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters & other agencies
Sandip Das
first published: Dec 30, 2021 08:12 am
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