The BSE Sensex closed 42 points, or 0.10 percent, up at 40,487.43, while Nifty ended 16 points, or 0.13 percent, higher at 11,937.50.
The formation of the head and shoulder patterns are still intact in the Nifty, as per the daily time frame chart. This neckline of this pattern is at 11,880-900 level. A sustainable move below this area could open up a sharp weakness in the market ahead, said experts.
According to the pivot charts, the key support level for Nifty is placed at 11,889.67, followed by 11,841.83. If the index continues moving up, key resistance levels to watch out for are 11,983.67 and 12,029.83.
Nifty Bank closed slightly lower by 0.03 percent at 31,332.10. The important pivot level, which will act as crucial support for the index, is placed at 31,113.3, followed by 30,909.9. On the upside, key resistance levels are placed at 31,528.9 and 31,741.1.
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 pulled back on Monday from near-record levels, as Apple and healthcare shares fell and investors braced for a busy week of political and economic news, including a potential turning point in the US-China trade dispute.
Dow Jones Industrial Average fell 105.46 points, or 0.38 percent, to 27,909.6, the S&P 500 lost 9.94 points, or 0.32 percent, to 3,135.97 and the Nasdaq Composite dropped 34.70 points, or 0.4 percent, to 8,621.83.
Asian Markets
Asian equity markets were a tad lower on Tuesday as investors refrained from making major bets before December 15, when the next round of US tariffs on Chinese imports is due to take effect.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down just 0.04% as the Asian trading day began on Tuesday. Australian shares were also 0.04% lower, while Japan's Nikkei lost 0.23%.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 1.5 points gain or 0.01 percent. The Nifty futures were trading around 11,966-level on the Singaporean Exchange.
Oil slips as weak China exports highlight trade war impact
Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage to global demand by the trade war between Washington and Beijing.
Brent futures settled down 14 cents, or 0.22%, at $64.25 per barrel, after gaining about 3% last week on news that OPEC and its allies would deepen output cuts. West Texas Intermediate oil futures were down 17 cents, or 0.24%, at $59.02 a barrel.
Rupee darts up 16 paise to 71.04 against USD
The rupee pared initial losses and settled 16 paise up at 71.04 against the US dollar on December 9 amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas. Fresh foreign fund inflows and positive developments on the US-China trade front also propped up the local unit, forex traders said.
At the interbank foreign exchange market, the rupee opened at 71.24 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.02 and a low of 71.27 and finally ended the day at 71.04 against the US dollar.
Public sector banks turn profitable in April-September FY20
Public sector banks (PSBs) returned to profitability in 2019-20, posting an aggregate profit of Rs 3,221 crore in the first half ending September, Minister of State for Finance Anurag Singh Thakur said in Parliament on Monday. PSBs had posted huge losses in 2017-18 and 2018-19 financial years due to heavy provisioning for non-performing assets and other contingencies, according to the minister.
State-run lenders had posted aggregate operating profits during 2017-18 and 2018-19 of Rs 1,55,603 crore and Rs 1,53,871 crore respectively.
Central GST falls short of budget estimate by 40% in April-Nov
The Central GST collection fell short of the budged estimate by nearly 40 per cent during the April-November period of 2019-20, according to the data presented in Parliament on December 9.
The actual CGST collection during April-November stood at Rs 3,28,365 crore while the budgeted estimate is of Rs 5,26,000 crore for these months, Minister of State for Finance Anurag Singh Thakur said in a written reply in Lok Sabha.
Tariff hikes can double telcos operating profit in FY21: Report
The steep tariff hikes, effected earlier this month by the battered telcos which held prices at rock bottom levels for nearly five years, can help more than double their operating profit to Rs 60,570 crore in FY21 from Rs 29,450 crore in FY19, says a report.
It is a "structural positive" for the sector which has been weighed down by weak cash flows and mounting debt levels, leading domestic ratings agency Crisil said on December 9, adding the hikes are a good opportunity for the industry to "repair its financials and become sustainable".
NSE launches interest rate options on Government of India bonds
The National Stock Exchange of India (NSE) on December 9 launched interest rate options on 10-year Government of India bonds. The first day of launch witnessed the turnover of 5,926 contracts and participation was observed from more than 50 trading members, the media release claimed.
"By launching interest rate options, we have added one more instrument to the fixed income derivatives asset class. Interest rate options will provide institutional investors the ability to manage risk through a non-linear product that is otherwise not available to them. Market participants can use options to trade and hedge interest rate risk on a transparent platform," said Vikram Limaye, MD & CEO of NSE.
SIP AUM touches all-time high of Rs 3.12 lakh cr in Nov; inflows at Rs 8,272 cr
The assets under management (AUM) of Systematic Investment Plans (SIPs) touched an all-time high of Rs 3.12 lakh crore in November. Inflows through SIPs stood at Rs 8,272 crore as against Rs 8,246 crore in October, registering an increase of almost Rs 26 crore month-on-month.
This data was shared by NS Venkatesh, Chief Executive Officer, Association of Mutual Funds in India in a concall held to discuss AMFI monthly numbers. In the calendar year 2019 so far, the total inflows through SIPs stood at Rs 65,880 crore.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 459.22 crore, while domestic institutional investors (DIIs) also bought shares of worth Rs 74.93 crore in the Indian equity market on December 9, provisional data available on the NSE showed.
Stock under F&O ban on NSE
Yes Bank is under the F&O ban for December 10. 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
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