10 things to know before you make your opening trade on December 29

Positive global cues pushed benchmark indices higher for second day in a row on Tuesday. The S&P BSE Sensex saw a jump of nearly 500 points while the Nifty50 closed above 17200-mark.  

Rohit Singre, Senior Technical Analyst at LKP Securities said, “Index opened a day with good gap and managed to hold its gain throughout the day & given a close at 17234 with gains of nearly one percent forming a bullish candle on daily chart.”  

“Now fresh base is created at 17200 zone until trading above mentioned support zone one can expect extension in current pullback but if unable to hold then we may see some profit booking towards 17100 zone, on the higher side immediate hurdle is coming near 17300-17400 zone overall structure seems positive as index managing above 17000 mark, Singre said in his post market note.  

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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 US market closed mixed on Tuesday majority of the important indices ended in the red yesterday. Nasdaq Composite closed 0.56% lower, S&P 500 0.10% down, Russell 2000 ended 0.66% negative, while the Dow Jones gained 0.26% on Tuesday's closing.  

Asian Markets:  

The Asian markets were largely trading in the negative territory this morning as Nikkei 225 was trading lower by 0.80%, Hang Seng index 0.85 and Shanghai Composite was down 0.40%   

SGX Nifty:  

Trends on SGX Nifty indicated a negative opening for the index in India. The Nifty futures were trading at 17,216, down 46 points or 0.27%  on the Singaporean Exchange around 07:30 hours IST.  

Brent nears $80 as market shrugs off Omicron  

Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week.  

Brent crude rose by 55 cents, or 0.7%, to $79.15 a barrel by 1410 GMT, after hitting a session high of $79.85. U.S. West Texas Intermediate (WTI) crude rose 73 cents, or 1%, to $76.30, after rising to $76.92. Both contracts traded at their highest in a month.  

"Support comes as well from high aggregated production disruptions in Ecuador, Libya and Nigeria and the expectation of another large drop in U.S. crude inventories," said UBS oil analyst Giovanni Staunovo.  

Gold hits more than one-month peak as dollar subsides  

Gold prices climbed on Tuesday as the U.S. dollar weakened and concerns over the spread of the Omicron coronavirus variant led bullion`s year-end rally to a more than one-month high.  

Spot gold was up 0.3% at $1,816.55 an ounce by 1256 GMT, its highest since Nov. 22, while U.S. gold futures rose 0.5% to $1,818.40.  

"While there are concerns over the Omicron variant, the investment demand is quite flat. So it is just the year-end rally since there is still some risk-on sentiment present," said Jigar Trivedi, a commodities analyst at Mumbai-based broker Anand Rathi Shares.  

Rupee spurts 30 paise to hit 1-month high  

Rising for the ninth straight session, the rupee surged 30 paise to close at a one-month high of 74.70 against the US dollar on Tuesday, tracking positive domestic equities and a weak greenback in the overseas market.  

However, Omicron worries and firm crude oil prices restricted the appreciation bias of the local unit to some extent.  

At the interbank forex market, the local unit opened at 74.95 against the greenback and witnessed an intra-day high of 74.60 and a low of 74.95. Its finally settled at 74.70, registering a rise of 30 paise over the last close. In the previous session, the rupee rose 3 paise to 75 against the US dollar.  

Cooperative banks to build on resilience: RBI  

With turnaround in economic activity, cooperative banks are likely to build on their resilience and leverage on recent financial improvements to increases their reach going ahead, the Reserve bank of India said in its report.  

The cooperative banking segment both urban and rural remained robust throughout the COVID-19 stress, the Report on Trend and Progress of Banking in India 2020-21 released on Tuesday said.  

Going forward, with a turnaround in economic activity, it is expected that the sector may build on its resilience and leverage on recent financial improvements to expand its footprint in order to reach finance to grassroot levels, the report said.  

Sebi board tightens rules for utlisation of IPO proceeds  

Markets regulator Sebi on Tuesday decided to put a cap on IPO proceeds earmarked for making future acquisition of unspecified targets and will bring under monitoring the funds reserved for general corporate purposes.  

The regulator has prescribed certain conditions for selling shares in an Offer-for-Sale (OFS) under IPO by significant shareholders and has extended anchor investors' lock-in period to 90 days, according to a statement issued by Sebi after its board meeting.  

In addition, Sebi has decided to revise allocation methodology for Non-institutional Investors (NIIs).  

Sebi to rationalise settlement proceeding norms  

The time period for filing settlement applications by entities will be 60 days from the date of receipt of the show-cause notice or a supplementary notice, whichever is earlier, according to Sebi.  

The decision, taken at the board meeting of Sebi on Tuesday, is aimed at rationalising norms on settlement proceedings.  

In this regard, changes will be made to the settlement proceedings regulations, which had come into force from January 1, 2019.  

"Time period for filing a settlement application rationalised to 60 days from the date of receipt of the show-cause notice or a supplementary notice, whichever is later," the regulator said in a release.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net buyers for Rs 207.31 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 567.47 cr, provisional data showed on the NSE.  

Stocks under F&O ban on NSE   

Three stocks - 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.)