Top 10 things you must know before the market opens today

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© Sunil Matkar Top 10 things you must know before the market opens today

The market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with an 69-point loss.

The BSE Sensex jumped 650.98 points to close at 60,395.63, while the Nifty50 closed above crucial 18,000 mark, rising 190.60 points to 18,003.30, and formed a bullish candle on the daily charts, backed by banking and financials, auto and select metals and IT stocks.

According to pivot charts, the key support levels for the Nifty are placed at 17,915.87, followed by 17,828.43. If the index moves up, the key resistance levels to watch out for are 18,054.07 and 18,104.84.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

Wall Street’s three major indexes staged a late-session comeback on Monday as the Nasdaq managed to eke out a tiny gain and investors swooped in to hunt for bargains, while the S&P 500 and the Dow Jones Industrial Average finished well above their session lows.

The Dow Jones Industrial Average fell 162.79 points, or 0.45%, to 36,068.87, the S&P 500 lost 6.74 points, or 0.14%, to 4,670.29 and the Nasdaq Composite added 6.93 points, or 0.05%, to 14,942.83.

Asian Markets

Asia-Pacific markets mostly fell across the board on Tuesday as investors remain concerned about inflation as well as likely policy tightening from central banks such as the U.S. Federal Reserve.

Japan’s Nikkei 225 declined 0.83% while the Topix index was down 0.8%. The Japanese market was closed in the previous session for a public holiday.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with an 69-point loss. The Nifty futures were trading at 17,978 on the Singaporean Exchange at around 07:20 hours IST.

NSE gets SEBI nod to launch derivatives on Nifty Midcap Select Index

National Stock Exchange said it got approval from Securities Exchange Board of India(SEBI) to launch derivatives on Nifty MidCap Select Index and will start from January 24.

“Nifty Midcap Select index aims to track the performance of a focused portfolio of 25 stocks within the Nifty Midcap 150 index. All the index constituent stocks are individually available in derivatives. The weight of the stocks is based on free-float market capitalization methodology”, NSE said in a statement.

Domestic air passenger traffic at 111 lakh in December; up 52% YoY: Report

Domestic air passenger traffic remained 44 per cent lower in the April-December period of FY21 to 111 lakh against the corresponding period of FY20, but saw a jump of 52 per cent compared to December 2021, according to rating agency ICRA.

The total domestic passenger traffic had stood at 73 lakh in December 2020, according to a report by the rating agency. It also said that the emergence of new coronavirus variant and reactionary restrictions impacting air travel remain near term-challenges for the airline industry.

SEBI puts in place framework for operationalising gold exchange

Capital markets regulator SEBI on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to SEBI for approval of trading in the new segment, the regulator said in a circular.

The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches– creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.

Oil prices fall on demand concerns and rising Libyan output

Oil prices fell on Monday as concerns about demand fears stoked by the rapid global rise in Omicron coronavirus infections overtook concerns about oil supply reduction from Kazakhstan.

Brent crude fell 88 cents, or 1.1%, to settle at $80.87 a barrel. U.S. West Texas Intermediate (WTI) crude was down 67 cents, or 0.9%, at $78.23.

Gold muted ahead of key US inflation data

Gold prices were flat on Tuesday, as markets anticipated quicker rate hikes based on key December U.S. inflation data due later this week, while stronger bond yields continued to cap gains.

Spot gold was little changed at $1,803.29 per ounce by 0017 GMT. The US gold futures were up 0.2 percent to $1,802.20. The benchmark US 10-year Treasury yield hit an almost two-year high on Monday, as investors increasingly expect the Federal Reserve to begin tightening its policy with an interest rate hike as soon as March.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 124.23 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 481.55 crore in the Indian equity market on January 10, as per provisional data available on the NSE.

Stocks under F&O Ban on NSE

Three stocks – Delta Corp, Indiabulls Housing Finance and RBL Bank – are under the F&O ban for January 10. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters & other agencies