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    SGX Nifty up 20 points; here's what changed for market while you were sleeping

    Synopsis

    U.S. stock indexes rallied to kick off the trading week on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week.

    markets-shutterShutterstock.com
    The Rs 552-crore IPO of Landmark Cars is set to hit the primary markets on Tuesday
    Domestic equities are likely to rise on Tuesday, drawing comfort from the lower-than-expected consumer price inflation print for November. However, the upside could be capped, as foreign investors are unlikely to take aggressive bets ahead of the US Federal Reserve’s policy action, due on Wednesday.

    Options of Nifty 50 show build-up of positions in 18500 put option, with this strike price now holding the maximum open interest compared with 18600 strike in the previous session.

    Here's breaking down the pre-market actions:

    STATE OF THE MARKETS

    SGX Nifty signals a positive start
    Nifty futures on the Singapore Exchange traded 22.5 points, or 0.12 per cent, higher at 18,620.50, signaling that Dalal Street was headed for a positive start on Tuesday.

    • Tech View: A sustainable upmove above the hurdle of 18,650 levels on Nifty 50 only could confirm an uptrend. Immediate support is placed at 18,350 levels.
    • India VIX: The volatility gauge ended 1.2% down at 13.3175 points on Monday. While volatility was low, caution prevails ahead of the crucial inflation data and the Fed’s policy action in the US, due later this week.

    Wall Street rallies
    U.S. stock indexes rallied to kick off the trading week on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week.
    • Dow up 1.58%
    • S&P 500 rises 1.43%,
    • Nasdaq gains 1.26%

    Asian stocks rise
    Asian stock markets were buoyed on Tuesday by overnight optimism on Wall Street that the U.S. Federal Reserve and other central banks would ease off on the pace at which interest rates have been hiked to tackle the highest inflation levels in decades.

    • S&P 500 futures fell 0.1% at 8:18 a.m. Tokyo time. The S&P 500 rose 1.4%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 gained 1.2%
    • Nikkei 225 futures rose 0.7%
    • Australia’s S&P/ASX 200 Index rose 0.3%
    • Hang Seng Index futures fell 0.4%

    Dollar firm
    The dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks.

    Oil prices gain
    Oil prices rose for a second day on Tuesday as a key pipeline supplying the United States, the world's biggest crude consumer, remained shut and on expectations loosening COVID restrictions in China, the second-biggest user globally, will boost demand.

    Brent crude futures rose 64 cents, or 0.8%, to $78.63 per barrel by 0202 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 64 cents, or 0.9%, to $73.81.


    FII/DII action
    Foreign portfolio investors (FPIs) on Monday net sold shares worth Rs 139 crore, provisional data showed. DIIs net bought shares to the tune of Rs 696 crore.

    Stocks in F&O ban today
    Bharat Heavy Electricals, Punjab National Bank, Delta Corp, and Gujarat National Fertilizers. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.


    Rupee: The Indian unit ended lower against the dollar on Monday, but off the day’s lows. The rupee settled at 82.53 a dollar, compared with 82.27 a dollar on Friday. It tested a low of 82.7350 a dollar during the day.

    Macro news
    * India’s headline inflation based on the consumer price inflation dropped to a 11-month low of 5.88% in November, and moved within RBI’s threshold of 2-6% for the first time in 10 months

    * India's industrial production slumped to a 26-month low in October, contracting 4% on year, against a 4% growth in the same month last year, and a 3.1% growth in September


    IPO Corner
    * Response to Sula Vineyards’ IPO on Day 1 was muted, with the company cumulatively receiving bids for 52,34,670 shares against the issue size of 1,88,30,372 shares.

    * Abans Holdings’ IPO response was subdued on Day 1, as the company received bids for just 14,30,715 shares against the offer size of 1,28,00,000 shares.


    * The Rs 552-crore IPO of Landmark Cars is set to hit the primary markets on Tuesday


    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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