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Stock Market Today: SGX Nifty, Asian Markets, Oil, Dollar, LTIMindtree List and More

 


Domestic stocks are expected to get off to a positive start in Monday’s trading amid optimism about the easing of Covid restrictions in China. Asian markets were trading broadly higher at the start of trading while the dollar traded a little lower. The day would see LTIMindtree shares listed as a merged entity. Here’s what you need to know before the opening bell:

Clever prospects

On Friday, Nifty settled below the 18,900 level and recorded its first drop in nine sessions. The 50-pack index reversed its higher low and formed a bearish candle on the daily chart. On the weekly scale, the index formed a bullish candle but with a long wick, suggesting selling at higher levels.

SGX Nifty reports positive start

Nifty futures on the Singapore Stock Exchange quoted 47.50 points, or 0.25%, higher at 18,872, hinting at a positive start for the domestic market on Monday.

Asian stocks rise, dollar falls

Asian stocks rose Monday morning amid the lifting of Covid-related restrictions in China. Japan’s Nikkei rose 0.07%, China’s Shanghai Composite added 0.81% while Hong Kong’s Hang Seng rose 2.70%. South Korea’s Kospi was flat. The dollar index, which has an inverse relationship with equities, was trading down 0.24% to the 104.19 level.

US stocks settle down

US stocks fell slightly on Friday, although major indexes rebounded from their worst levels of the day as November’s payrolls report fueled expectations that the Federal Reserve would maintain its rate hike path. interest in fighting inflation. Dow Jones rose 34.87 points, or 0.10%, to 34,429.88. The S&P500 index lost 4.87 points, or 0.12%, to end at 4,071.70. The Nasdaq Composite fell 20.95 points, or 0.18%, to 11,461.50.

Oil rises after OPEC+ maintains oil production targets

Oil prices edged higher in early trading after OPEC+ countries reaffirmed their oil production targets ahead of a European Union ban and Russian crude price cap, which will begin on Monday, a report said. reported Reuters. Meanwhile, in a positive sign for fuel demand, more Chinese cities eased Covid restrictions over the weekend. Brent crude futures climbed 39 cents, or 0.5%, to $85.96 a barrel, while U.S. WTI crude futures rose 37 cents, or 0.5% , at $80.35 a barrel.

Corporate Actions Today

Monday would see LTIMindtree’s re-listing ceremony. The new LTIMindtree shares awarded in place of Mindtree shares will be available for trading today, along with the company’s existing shares, upon listing. Shares of Panchsheel Organics will become ex-dividend today. . The boards of Alfa Transformers and Gujarat Toolroom will meet today to consider the proposals for the preferential issuance of shares. In addition, the board of directors of Marg Techno Projects will consider a proposed stock split. The board of Sukhjit Starch & Chemicals, meanwhile, is reportedly considering an interim dividend today.

Stocks under F&O ban

Shares of Delta Corp, Indiabulls Housing and Punjab National Bank are banned from the F&O segment today. Derivative contracts on a security are prohibited when it exceeds 95% of the market-wide position limit (MWPL). No new position can be created in the derivative contracts of this security. This ban is lifted when the open interest in the stock falls below 80% of MWPL across all exchanges.

DIIs buy shares worth Rs 712 crore

Provisional data available from NSE suggests REITs were net buyers of domestic equities at Rs 214.76 crore on Friday. Domestic Institutional Investors (DII) bought shares to the tune of Rs 712.34 crore.

The rupee drops 7 paise against the dollar

The Rupee pared initial gains to settle 7 paises lower at 81.33 against the US Dollar on Friday as support from Dollar weakness was negated by weakness in domestic markets and gains in Crude Oil prices. Forex traders said the outflow of foreign funds was also weighing on investor sentiment. In the interbank FX market, the local unit opened at 81.11 but pared gains and ended at 81.33, down 7 paise from its previous close.

Read also: Sensex, Nifty: Key factors that could influence Dalal Street this week

Also read: Nifty sees profit booking after 8-day rally; 18,900 a major hurdle, analysts say

Sources

1/ https://Google.com/

2/ https://www.businesstoday.in/markets/market-perspective/story/stock-market-today-sgx-nifty-asian-markets-oil-dollar-ltimindtree-listing-more-355202-2022-12-05

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