What changed for the market while you were sleeping? Top 10 things to know

Trends on SGX Nifty indicate a flat opening for the index in India with an 11 point gain.

December 31, 2020 / 07:48 AM IST
Hi-Klass Trading and Investment | Company to open its Rs 1.43-crore share buyback on December 30.

Hi-Klass Trading and Investment | Company to open its Rs 1.43-crore share buyback on December 30.

The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat opening for the index in India with an 11 point gain.

Sensex ended 133 points, or 0.28 percent, higher at 47,746.22 on December 30 while Nifty settled with a gain of 49 points, or 0.35 percent, at 13,981.95. According to pivot charts, the key support levels for the Nifty are placed at 13,899, followed by 13,816. If the index moves up, the key resistance levels to watch out for are 14,031 and 14,080.

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 Markets

US stocks closed higher on Wednesday, with the Dow Industrials nudging up to a record, as investors looked towards an improving economic outlook in 2021 on the back of COVID-19 vaccine rollouts and hopes for even more fiscal support.

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The Dow Jones Industrial Average rose 73.89 points, or 0.24%, to 30,409.56, the S&P 500 gained 5 points, or 0.13%, to 3,732.04 and the Nasdaq Composite added 19.78 points, or 0.15%, to 12,870.00.

Asian Markets

Asian shares are set to end a tumultuous 2020 by hovering near record highs on Thursday while riskier currencies cruised near 2-1/2-year peaks, buoyed by hopes that COVID-19 vaccine rollouts will help the world beat the pandemic.

E-Mini S&P futures rose 0.11% to 3,728.5, while MSCI’s gauge of Asia-Pacific shares excluding Japan was little changed at 661.76, a hair’s breath from its record high of 661.80. Australian shares lost 0.23% while the Japanese stock market is shut on Thursday.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the index in India with an 11 point gain. The Nifty futures were trading at 13,993 on the Singaporean Exchange around 07:30 hours IST.

Oil set for 20% drop in 2020 as lockdowns weigh

Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralyzed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out more stimulus.

On Thursday, the last trading day of 2020, Brent was trading down 18 cents, or 0.4%, at $51.45 a barrel, as of 0136 GMT and U.S. West Texas Intermediate (WTI) lost 0.1%, or 5 cents, to $48.35 a barrel.

China's factory activity expands at a slower pace in December - official PMI

China’s factory activity expanded in December but at a slower pace, as the country leads a pack of major economies emerging from the coronavirus slump.

The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.9 in December from 52.1 in November, data from the National Bureau of Statistics (NBS) showed on Thursday, remaining above the 50-point mark that separates growth from contraction.

Import monitoring system being developed for several sectors: Commerce Ministry

The commerce ministry on Wednesday said an import monitoring system is being developed for several sectors, including aluminium, copper, footwear, furniture, sports goods, and gym equipment.

The system would help gather advanced information on imports of these products and make it available to the stakeholders, including government and domestic industries. The system is already in place for steel and coal.

Bitcoin jumps to record $28,600 as 2020 rally reaches new heights

Bitcoin on Wednesday jumped to a record $28,599.99 after the digital currency almost quadrupled in value this year amid heightened interest from bigger investors.

The world's most popular cryptocurrency was last up 2.3 percent at $28,012. It has surged by nearly half since breaking $20,000 for the first time on December 16.

India eyes asset sales to partly fund higher spending next year: Report

India is likely to spend more next fiscal year than this year's budgeted $415 billion and prioritise infrastructure projects, relying on asset sales of around $40 billion for some of the funding, two people with knowledge of the plan told Reuters.

After largely keeping its purse strings in check as the coronavirus pandemic choked businesses and threw millions out of jobs, Prime Minister Narendra Modi's government is keen to bring the economy back onto a solid growth path with the budget to be presented on February 1.

Govt extends ban on international flights till January 31, 2021

Indian government has extended the ban on international flights further by a month, till January 31, 2021. The suspension, which first came into effect in March, was earlier to get over on December 31, 2020.

The Directorate General of Civil Aviation (DGCA) announced the extension on December 30. The regulator clarified that cargo flights and limited international flights under bubble arrangement will continue.

India's current account surplus moderates to $15.5 billion in Q2: RBI

India's current account surplus moderated to $15.5 billion or 2.4 percent of the GDP in the July-September quarter of the current fiscal. The same was at $19.2 billion or 3.8 percent of the GDP in the preceding three months on account of a rise in the merchandise trade deficit, the RBI said on Wednesday.

A current account deficit of $7.6 billion or 1.1 percent of the GDP was recorded in the second quarter of 2019-20.

Forex reserves rise by $51.4 billion during April-September 2020

India's foreign exchange reserves increased by $51.4 billion during April-September 2020 as compared with $19.1 billion during April-September 2019, Reserve Bank of India's balance of payments (BoP) data shows.

Apart from this, the foreign exchange reserves in nominal terms rose by $66.9 billion during April-September 2020 as compared with $20.8 billion recorded during the same period in 2019.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,824.52 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 587.43 crore in the Indian equity market on December 30, as per provisional data available on the NSE.

2 stocks under F&O ban on NSE

Canara Bank and Punjab National Bank are under the F&O ban for December 31. 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 31, 2020 07:48 am

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