STATE OF THE MARKETS
SGX Nifty signals negative start
Shrewd futures on the Singapore Stock Exchange traded 76 points, or 0.45%, down to 16,943, signaling that Dalal Street was heading for a negative start on Monday.
- Technical view: Nifty50 resumed its downtrend on Friday, with the index sliding below its immediate support range, signaling further weakness to come. The index broke its 61.8% retracement of the recent upward stage as well as the lower end of the bullish channel on the hourly chart.
- India VIX: The fear gauge jumped about 3% to 16.34 on Friday from its close at 15.90 on Thursday.
Asian stocks open lower amid virus concerns
Asian stocks opened lower on Monday after falls on Wall Street as investors remained cautious over coronavirus fears and the Fed’s decision to accelerate its withdrawal from the pandemic stimulus. The MSCI Asia-Pacific ex-Japan equity index fell 0.84%.
- Japan’s Nikkei plunged 1.84%
- South Korean Kospi tanked 1.33%
- Australian ASX 200 loses 0.47%
- Shanghai’s China fell 0.33%
- Hong Kong’s Hang Seng fell 0.76%
US stocks retreated
Wall Street ended lower on Friday, weighed down by Big Tech as investors worried about the Omicron variant of the coronavirus and digested the Federal Reserve’s decision to end its pandemic-era stimulus more quickly.
- The Dow Jones lost 1.48% to 35,365.44
- The S&P 500 dipped 1.03% to 4,620.64
- The Nasdaq lost 0.07% to 15,169.68
The dollar is shining, the euro is sagging
The US dollar hovered near the highest since July last year against its major peers on Monday after a Federal Reserve official signaled that a first interest rate hike in the era of the pandemic could occur as early as March.
- The Dollar Index surged to 96.629
- The euro stood at $ 1.1245
- The pound fell to $ 1.3232
- The yen gained slightly to 113.59 per dollar
- The yuan traded hands at 6.3781 against the greenback
Oil prices drop following the Omicron surge
Oil prices fell about 2% early on Monday, as increased cases of the Omicron coronavirus variant in Europe and the United States fueled investor fears that new restrictions on companies to fight its spread can affect fuel demand.
Brent crude futures fell $ 1.36, or 1.9%, to $ 72.16 a barrel at 12:36 GMT, while US West Texas Intermediate (WTI) crude futures fell. fell $ 1.51, or 2.1%, to $ 69.35 a barrel.
REITs sell stocks worth Rs 2,070 cr
Net-net, foreign portfolio investors (REITs) turned sellers of domestic stocks to the tune of Rs 2,069.9 crore, according to data available from NSE. DIIs have become net buyers to the tune of Rs.1478.52 crore, the data shows. The REITs withdrew 13,470 crore rupees from the shares between December 1 and December 17.
List of properties of Shriram
Shriram Properties shares will debut on Dalal Street on Monday. The South India-based real estate actor sold his shares in the Rs 113-118 range between December 8-10 to raise Rs 600 crore via the main road. Prior to listing, the script traded at a discount of Rs 10-15 on the gray market.
MONETARY MARKETS
Rupee: The rupee reduced its initial losses to edged up 3 paise to 76.06 against the US dollar on Friday, although concerns over foreign cash outflows and rising crude oil prices weighed on the market. general feeling.
10-year bonds: India’s 10-year bond jumped 0.58% to 6.41 after trading in a 6.38-6.42 range on Friday.
Call rates: The weighted average overnight call rate stood at 3.54% on Friday, according to RBI data. It has moved within a range of 2.00 to 4.50 percent.