The market ended a lacklustre session with a moderate loss on December 23, snapping its four-day winning streak. BJP's failure to win a majority in the Jharkhand elections also dented sentiment.
The BSE Sensex ended down 38.88 points at 41,642.66 while the Nifty 50 lost 9 points to 12,262.80, forming a small-bodied green candle as closing was higher than the opening tick.
Market breadth was in favour of bears with about 1,374 shares declining against 1,102 advancing on the NSE.
Experts expect the market to remain rangebound in the coming sessions due to the lack of triggers. They believe 12,000 would act as crucial support.
According to the pivot charts, the key support level for Nifty is placed at 12,221.6, followed by 12,180.4. If the index gains strength, key resistance levels to watch out for are 12,295.6 and 12,328.4.
Nifty Bank closed 0.14 percent lower at 32,339.50 on December 23. The important pivot level, which will act as crucial support for the index, is placed at 32,189.87, followed by 32,040.33. On the upside, key resistance levels are placed at 32,495.87 and 32,652.33.
Stay tuned to Moneycontrol to find out what happens in 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 MarketsWall Street's main indexes posted record closing highs on Monday after President Donald Trump said an initial U.S.-China trade pact would be signed soon, while Boeing gave the Dow a big boost after the planemaker ousted its chief executive officer.
Oil prices inch higher amid support for supply cuts, lower inventory forecastOil prices edged higher on Tuesday after Russia's energy minister, Alexander Novak, said cooperation with OPEC on supporting the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories.
Trends on SGX Nifty indicate a flat opening for the broader indices in India, a loss of 16 points or 0.13 percent. Nifty futures were trading around 12,263-level on the Singaporean Exchange.
Rupee down 6 paisa at 71.18 against US dollarThe rupee depreciated by 6 paise to close at 71.18 against the US dollar on December 23 amid muted activity in domestic equities and steady rise in crude oil prices. Forex traders said the rupee is trading in a narrow range amid lack of cues from the global market.
At the interbank foreign exchange market, the domestic currency opened weak at 71.15 and later fluctuated between a high of 71.11 and a low of 71.24.
Govt may introduce methanol-blended fuel to cut India's annual oil import bill by Rs 5,000cr: ReportThe government is considering introducing methanol-blended fuel across the country to trim the oil import bill and check the rising pollution levels, according to a report by The Economic Times.
If implemented, it could cut save the country nearly Rs 5,000 crore annually in oil imports, trim consumers' fuel bills by nearly 10 percent and slash vehicular pollution levels by over 30 percent. Currently, the country uses a 10 percent ethanol-blended fuel. But, ethanol production at Rs 42 a litre is almost double that of methanol at Rs 20 a litre.
RBI caps lending on P2P platforms at Rs 50 lakhTo protect consumers interest, the Reserve Bank on December 23 said that on a peer-to-peer lending (P2P) platform the permissible exposure of a lender to all borrowers should not exceed Rs 50 lakh at any given point of time. "On a review, it has been decided that the aggregate exposure of a lender to all borrowers at any point of time, across all P2P platforms, shall be subject to a cap of Rs 50,00,000 provided that such investments of the lenders on P2P platforms are consistent with their net-worth," the RBI said in a notification.
The lender investing more than Rs 10 lakh across P2P platforms will produce a certificate to P2P platforms from a practising Chartered Accountant certifying minimum net-worth of Rs 50 lakh.
"Further, all the lenders shall submit declaration to P2P platforms that they have understood all the risks associated with lending transactions and that P2P platform does not assure return of principal/payment of interest," the RBI said in a notification.
CDSL gets Sebi nod to open IFSC branch at GIFT CityCentral Depository Services (India) Ltd on December 23 said it has received approval from markets regulator Sebi for setting up its IFSC (International Financial Services Centre) branch at the GIFT City in Gujarat. CDSL will be the first depository to launch its branch operations from the precincts of IFSC in the GIFT city.
"Adding to the list of many firsts, CDSL besides being the first listed depository in India would also be the first depository to set-up its branch at the IFSC Center at GIFT City. We are fully committed to bring in the world class sophistication and services in the products as permitted from time to time.
RBI purchases Rs 10,000-cr G-Secs, sells Rs 6,825 cr securities via OMOsThe Reserve Bank on December 23 purchased Rs 10,000 crore worth of long-term government securities and sold Rs 6,825 crore of four short-term securities through the special open market operations (OMOs). Last week, the RBI had announced simultaneous purchase and sale of government securities under OMOs for Rs 10,000 crore each.
In the OMO purchase of 6.45 per cent GS 2029, which is a benchmark security, the RBI received Rs 20,826 crore worth of bids from the participants but accepted Rs 10,000 crore of bids.
"The RBI offered to purchase the 10-year benchmark security which is liquid and highly traded in the secondary market. The outstanding stock of this bond is around Rs 67,447.851 crore. This would have attracted the bidders to buy it through OMO purchase," said a bank treasurer at a state-run bank.
FII and DII dataForeign institutional investors (FIIs) bought shares worth Rs 1,463.28 crore, while domestic institutional investors (DIIs) sold shares worth Rs 1,947.36 crore in the Indian equity market on December 23, provisional data available on the NSE showed.
Stocks under F&O ban on NSEDish TV is under the F&O ban for December 24. 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.
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