Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 102 points.
Equity indices settle marginally low
The BSE Sensex surged 886.51 points to 57,633.65, while the Nifty50 jumped 264.40 points to 17,176.70 and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,025.77, followed by 16,874.83. If the index moves up, the key resistance levels to watch out for are 17,289.66 and 17,402.63.
US Markets
Wall Street's main indices finished Tuesday's session with strong gains as investors shook off some anxiety about the latest coronavirus variant and boosted Nasdaq by piling into technology stocks.
The Dow Jones Industrial Average rose 492.4 points, or 1.4 percent, to 35,719.43, the S&P 500 gained 95.08 points, or 2.07 percent, to 4,686.75 and the Nasdaq Composite added 461.76 points, or 3.03 percent, to 15,686.92.
Asian Markets
Chinese stocks lagged other Asia-Pacific markets on Wednesday, and troubled real estate developers are back in the spotlight. Local social media giant Weibo made its market debut in Hong Kong. Japan's Nikkei 225 bounced 1.1 percent, and the Topix climbed 0.63 percent.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 102 points. The Nifty futures were trading around 17,313 levels on the Singaporean exchange.
Live Updates
- 8 Dec 2021 6:28 AM GMT
Paytm extends losses
One 97 Communications, the parent company of Paytm, was down 0.61% on Wednesday after RBI said that it will release a discussion paper on digital payments. The stock hit an intra-day low of Rs 1,560 per share.
- 8 Dec 2021 6:22 AM GMT
RateGain Travel IPO updates: The public offer of RateGain Travel Technologies has garnered bids for 84.38 lakh equity shares against IPO size 1.73 crore equity shares, subscribed 49 percent on December 8, the second day of bidding.
Retail investors continued to provide strong support to the issue, putting bids 2.62 times the portion set aside for them, while employees bought 37 percent of the shares reserved for them.
- 8 Dec 2021 6:21 AM GMT
Shriram Properties IPO issue subscribed 45% on Day 1
The initial public offering (IPO) of Shriram Properties, a south India-based real estate developer, was subscribed 45 percent on December 8, the first day of bidding.
Bids had come in for 1.31 crore equity shares against issue size of 2.93 crore equity shares. The portion set aside for retail investors was subscribed 2.48 times, while employees had bid for 6 percent of the shares reserved for them.
Non-institutional investors and qualified institutional buyers were yet to put in their bids for the offer.
- 8 Dec 2021 3:23 AM GMT
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,584.97 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 2,605.81 crore in the Indian equity market on December 7, as per provisional data available on the NSE.
- 8 Dec 2021 3:23 AM GMT
Gold inches higher as US Treasury yields ease
Gold prices rose slightly on Wednesday as US Treasury yields eased from their recent highs, reducing the metal's opportunity cost, while investors looked ahead to key inflation data that could settle the course of interest rates.
Spot gold rose 0.1 percent to $1,785.48 per ounce. Benchmark 10-year and 30-year US Treasury yields pulled back from their one-week highs hit on Tuesday.
- 8 Dec 2021 3:22 AM GMT
Oil edge lower as investors try to assess Omicron impact
Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the Omicron coronavirus variant on global fuel demand and the effectiveness of existing vaccines.
Brent crude futures dropped 25 cents, or 0.3 percent, to $75.19 a barrel at 0129 GMT, after settling 3.2 percent higher on Tuesday. US West Texas Intermediate crude was at $71.86 a barrel, down 19 cents, or 0.3 percent, having gained 3.7 percent in the previous session.
- 8 Dec 2021 3:21 AM GMT
US trade deficit shrinks as exports hit record high
The US trade deficit narrowed sharply in October as exports soared to a record high, potentially setting up trade to contribute to economic growth this quarter for the first time in more than a year.
The commerce department said on Tuesday that the trade gap plunged 17.6 percent to $67.1 billion. That was the biggest percentage decline since April 2015. Economists polled by Reuters had forecast a $66.8 billion deficit.
- 8 Dec 2021 3:21 AM GMT
Reliance, Abu Dhabi-based TA’ZIZ form joint venture for $2 billion chemical projects in Ruwais
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) on December 7 announced the launch of a strategic joint venture with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA'ZIZ) for chemical projects worth $2 billion in Ruwais, a town located 240 km to the west of Abu Dhabi City.
The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than $2 billion,” RIL said in a statement. The joint venture, named ‘TA’ZIZ EDC & PVC’, will be a “world-scale chemical production partnership” at the TA’ZIZ Industrial Chemicals Zone in Ruwais.
- 8 Dec 2021 3:20 AM GMT
Japan’s Q3 GDP revised down to 3.6 percent annualised contraction
The Japanese economy shrank 3.6 percent in the third quarter, worse than the initial estimate of a 3.0 percent contraction, revised government data showed on Wednesday, posting a decline as private spending took a hit from a resurgence in COVID-19.
The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 3.1 percent contraction in a Reuters poll.
On a quarter-on-quarter basis, the GDP fell 0.9 percent, slightly worse than the initial reading and median forecast for a 0.8 percent drop.
