10 things to know before you make your opening trade on December 28

Positive global cues pushed benchmark indices higher on Monday. The S&P BSE Sensex saw a jump of nearly 300 points while the Nifty50 closed above 17000-mark.  

Mohit Nigam, Head - PMS, Hem Securities said, “Over the past few quarters, banks have strengthened their balance sheet through higher provisioning, fundraising, cautious lending and strengthened risk metrics.”   

Except metal, all other sectoral indices ended in green today with pharma index gaining around 1.62 per cent today. RBL tanks almost 18 per cent after the sudden exit of MD and CEO Vishwavir Ahuja.  

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Nigam said, the overall asset quality started improving, which will be reflected in the GNPA levels in the coming quarters.   

“We believe banking stocks are at the start of another growth phase from H2FY22. Bank Nifty has a good support at 34500 and today itself Bank Nifty rebounded from this point,” the analyst said.  

He also stated, “We can witness more upside in Bank Nifty up to 35800 in near term. Immediate support and resistance for Nifty 50 are 16800 and 17200 respectively.”  

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:    

Global Markets:  

The Wall Street indices ended in the green yet another day as Dow Jones added 351 points, Nasdaq Composite gained 218 points, S&P 500 settled 65 points higher and Russell 2000 gained 20 points in Monday's closing.  

Asian Markets:  

The Asian markets were off ro a good start as Hang Seng Index was trading 51 points higher, Japanese Nikkei 225 gained 293 points and Shanghai Composite was trading 5 points higher at 7.20 am on Tuesday morning  

SGX Nifty:  

Trends on SGX Nifty hinted at a positive opening for the Indian markets. The Nifty futures were trading at 17,188.50, up 82.50 points or 0.48% on the Singaporean Exchange around 07:30 hours IST.  

Oil prices rise about 3% as Omicron concern eases  

Oil prices rose around 3% on Monday due to hopes that the Omicron COVID-19 variant will have a limited impact on global demand in 2022, even as surging cases caused flight cancellations   

Global benchmark Brent crude rose $2.53, or 3.3%, to $78.67 a barrel by 11:01 a.m. EST (1601 GMT). U.S. West Texas Intermediate (WTI) crude rose $2.01, or 2.7%, to $75.80 a barrel. The U.S. market was closed on Friday for a holiday.  

Gold hovers near 1-week high  

Gold prices reversed course to approach a one-week peak on Monday, as renewed risks to global economic growth from rising cases of the Omicron coronavirus variant overshadowed pressure from a firmer U.S. dollar.  

Spot gold was up 0.3% at $1,812.81 an ounce by 10:41 EDT (1541 GMT), maintaining above the key $1,800 level reached last week. U.S. gold futures gained 0.1% to $1,812.80 per ounce.  

The outlook for gold in the first quarter of 2022 is upbeat, with the main driver being inflation, which is keeping a floor under prices, said Jim Wyckoff, a senior analyst at Kitco Metals.  

Rupee hits nearly 4-week high  

Rising for the eighth straight session, the rupee on Monday appreciated 3 paise to nearly four-week high of 75 against the US dollar amid a firm trend in domestic equities and rising appetite for riskier assets.  

However, a strong US dollar overseas and firm crude oil prices restricted the rupee's rise.  

At the interbank forex market, the local unit opened at 75.15 against the greenback and witnessed an intra-day high of 74.95 and a low of 75.16.  

It finally settled at 75, showing a gain of 3 paise against the previous close.  

Exports rise 36% during Dec 1-21: Govt  

The country's exports rose by 36.2 per cent to USD 23.82 billion during December 1-21 this year, according to preliminary data of the commerce ministry.  

Exports, excluding petroleum, have increased by 28.08 per cent during the period under review.  

"The value of export is USD 23.82 billion, up by 36.20 per cent over the same period of 2020-21 (USD 17.49 billion) and up by 27.70 per cent over the same period of 2019-20 (USD 18.65 billion)," it said.   

China will step up forex market monitoring in 2022 - regulator   

China will strengthen foreign exchange market monitoring and step up risk prevention and control in 2022, the country`s FX regulator said in a statement on Monday.  

In 2022, China will also promote cross-border investment of private equity investment funds, the State Administration of Foreign Exchange said in the statement.  

Gadkari to automakers: Start producing flex-fuel vehicles in 6 months  

To substitute India's petroleum imports, the government has advised automobile makers to start manufacturing flex-fuel vehicles and flex-fuel strong hybrid electric vehicles complying with BS-VI emission norms within six months, Union minister Nitin Gadkari said on Monday.  

Gadkari further said this move will drastically reduce greenhouse gas emissions from vehicles on a well-to-wheel basis, helping India to comply with its commitment made at COP26 to reduce the total projected carbon emissions by one billion tonnes by 2030.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 1038.25 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 955.79 cr, provisional data showed on the NSE.  

Stocks under F&O ban on NSE   

Four stocks - Escorts, Indiabulls Housing Finance, Idea, and RBL Bank - are under the F&O ban on Tuesday. 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 PTI, Reuters and other agencies)  

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)