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Top 10 things to check out before the market opens today

Moneycontrol logo Moneycontrol 04-01-2022 Sandip Das
a large white building: Top 10 things to check out before the market opens today © Rakesh Patil Top 10 things to check out before the market opens today

The stock market may open on a cautious note as trends on the SGX Nifty indicate a flat opening for the index in India.

The BSE Sensex rallied more than 1,000 points intraday, before settling at 59,183.22 with 929.40 points, while the Nifty50 jumped 271.70 points to close at 17,625.70 and formed a bullish candle on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 17,457.1, followed by 17,288.5. If the index moves up, the key resistance levels to watch out for are 17,720.5 and 17,815.3.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of developments from across news platforms which could impact the Indian as well as international markets today. Let’s check out.

US Markets

The S&P 500 and Dow Jones Industrial Average posted closing record highs on the first trading day of the year on Monday, helped by gains in Tesla Inc and bank shares.

The Dow Jones Industrial Average rose 246.76 points, or 0.68 percent, to 36,585.06; the S&P 500 gained 30.38 points, or 0.64 percent, at 4,796.56; and the Nasdaq Composite added 187.83 points, or 1.2 percent, at 15,832.80.

Asian Markets

Shares in Asia-Pacific were higher in Tuesday morning trade, following gains overnight stateside that saw the Dow Jones Industrial Average and S&P 500 closing at record on their first trading day of 2022.

The Nikkei 225 in Japan climbed 1.35 percent in the morning trade, with the Topix index gaining 1.26 percent. Over in Australia, the S&P/ASX 200 rose 1.47 percent. Shares in Japan and Australia started their trading year on Tuesday following a Monday holiday. South Korea’s Kospi rose 0.2 percent.

SGX Nifty

Trends on SGX Nifty indicate a cautious opening for the index in India. The Nifty futures were trading at 17,697 on the Singaporean Exchange at 7:30am Indian time.

China’s December factory activity returns to growth, beats forecasts- Caixin PMI

China’s factory activity grew at its fastest pace in six months in December, driven by production hikes and easing price pressures, but a weaker job market and business confidence added uncertainty, a private survey showed on Tuesday.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.9 in December - its highest level since June. Economists in a Reuters poll had expected the index to rise to 50.0, which separates growth from contraction on a monthly basis, from  49.9 in November.

Oil settles higher on 2022 demand optimism

Oil settled higher on Monday on hopes of further demand recovery in 2022, despite OPEC+ looking set to agree to another output increase and persistent concerns about how rising COVID infections might affect demand.

Brent crude settled up $1.20, or 1.5 percent, at $78.98 a barrel, having earlier risen as high as $79.05. US West Texas Intermediate (WTI) crude settled up 87 cents at $76.08 a barrel.

Exports cross $300 billion in the first 9 months of 2021-22

India’s exports crossed $300 billion in the first nine months of 2021-22, the first time ever that this has occurred. December 2021 also saw the highest level of monthly outbound trade at $37 billion. Exports in December saw 37 percent growth over December 2020 and an increase of 37.5 percent over December 2019.

“With this, we are on track to achieve our target of $400 billion worth of annual exports,” Commerce and Industry Minister Piyush Goyal said.

Sebi tweaks exercise mechanism of options on commodity futures

Capital markets regulator Sebi on Monday tweaked the “exercise mechanism” of option contracts on commodity futures. The decision has been taken based on feedback received from stock exchanges and the recommendations of Commodity Derivatives Advisory Committee of Sebi. In a circular, Sebi said the prescribed mechanism will be adopted by exchanges for exercise of the options contracts on expiry.

Under the mechanism, Sebi said All In the Money (ITM) option contracts will be exercised automatically, unless ‘contrary instruction’ has been given by long position holders of such contracts for not doing so. Besides, All Out of the Money (OTM) option contracts shall expire worthless, it said.

GPT Healthcare gets Sebi nod to go ahead with IPO

GPT Healthcare, which runs the chain of ILS Hospitals, has received the go-ahead from the capital markets regulator Sebi to raise up to Rs 500 crore through an initial share sale.

The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 17.5 crore and an offer-for-sale (OFS) of up to 2.98 crore equity shares by a promoter entity and an investor, according to the Draft Red Herring Prospectus (DRHP).

The OFS consists of sale of up to 38.05 lakh equity shares by GPT Sons and up to 2.61 crore equity shares by private equity firm BanyanTree Growth Capital II LLC. The private equity firm will be fully exiting the company through the IPO.

Sebi allows bourses to set up gold exchange in India

Markets regulator Sebi has notified rules for vault managers that allow bourses to set up a gold exchange in the country. The instruments representing gold will be called electronic gold receipts (EGRs) and will be notified as securities.

These EGRs will have trading, clearing and settlement features akin to any other securities. The gold exchange, encompassing the entire ecosystem of trading of EGR and physical delivery of gold, is expected to create a vibrant gold ecosystem in India.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 902.64 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 803.11 crore in the Indian equity market on January 3, as per provisional data available on the NSE.

With inputs from Reuters and other agencies

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