The benchmark indices closed marginally lower on Wednesday snapping two days gain. The S&P BSE Sensex saw a fall of nearly 100 points while the Nifty50 closed above 17200-mark.   

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Mohit Nigam, Head - PMS, Hem Securities said, “Strong buying is seen in selected pharma stocks while some selling pressure is seen in metal stocks today. Bajaj Auto is going to invest Rs 300 crore to build capacity for 5 lakh EVs per year, stock gained around 3 per cent today. Bajaj Auto can be a lucrative buy for investors as the stock is very cheaply priced currently.”   

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Similarly, strong buying interest is also seen in newly listed IPOs such as Latent View, Data Patterns, MapmyIndia, Supriya Lifesciences etc. Speciality Chemical Company Aether Industries files DRHP for Rs 1000 crores IPO, Hem Securities analyst added.   

“On the technical front, overall structure looks positive for Nifty 50 as it manages to sustain above 17200 level on a closing basis. 17000 and 17400 are immediate support and resistance in Nifty. For Bank Nifty, 34500 and 35500 are immediate support and resistance,” Nigam said in a comment.   

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:  

Wall Street indices closed mixed on Wednesday. Dow Jones gained 90 points, Nasdaq Composite declined 16 points, S&P500 added 7 points and Russell 2000 marginally gained 3 points to close Wednesday's session on flat note.   

Asian Markets:  

Asia market indices largely traded in the red on Thursday morning. Nikkei 225 was trading down 0.17%, Hang Seng index slid 0.07% and Shanghai Composite traded flat with marginal 0.04% gain around 7.15 am this morning.  

SGX Nifty:  

Trends on SGX Nifty indicate a flat to positive opening for the index in India. The Nifty futures were trading at 17,227.00, up 13.50 points or 0.08% on the Singaporean Exchange around 07:15 hours IST.  

Oil prices rise over 1% as US oil inventories fall   

Oil prices rose on Wednesday after government data showed U.S. crude and fuel inventories fell, offsetting worries that rising coronavirus cases might reduce demand.    

Brent crude rose $1.16, or 1.5%, to $80.10 a barrel by 10:55 a.m. EST (1555 GMT). U.S. West Texas Intermediate (WTI) crude rose $1.25, or 1.7%, to $77.23 a barrel.    

Both contracts are trading near their highest in a month, aided by strength in global equities.    

Crude inventories fell by 3.6 million barrels in the last week to 420 million barrels, compared with analysts` expectations in a Reuters poll for a 3.1 million-barrel drop.    

Gold slips to 1-week low as equities thrive  

Gold prices slid to a one-week low on Wednesday, dragged by growing appetite for riskier assets and firmer U.S. Treasury yields, although the metal pared some earlier losses on a weakening dollar.  

Spot gold was last down 0.3% to $1,799.91 per ounce by 10:38 a.m. EDT (1538 GMT), having hit a low of $1,788.33 an ounce earlier. U.S. gold futures dropped 0.5% to $1,801.40.  

"Risk appetite might be a little stronger today," said Peter Mooses, a senior market strategist at RJO Futures, adding that the pullback might not be long term and just last for a couple days amid the uncertainty around the Omicron variant cases.  

Rupee snaps 9-day winning streak  

The rupee snapped its nine-day winning streak to settle 3 paise lower at 74.73 (provisional) against the US dollar on Wednesday, following weakness in domestic equities.  

At the interbank foreign exchange, the rupee started on a tepid note at 74.69 against the dollar. During the day, it witnessed a high of 74.68 and a low of 74.86.  

On Tuesday, the rupee registered its ninth straight session of gain and surged 30 paise to close at a one-month high of 74.70 against the greenback.  

Retail-led credit model facing headwinds: RBI    

The Reserve Bank has flagged concerns on the deteriorating credit quality in the retail books of lenders and warned that the retail-led model of selling credit, led by housing loans, is confronting headwinds now.  

Between April and the first week of December, credit disbursal grew to 7.1 per cent as against 5.4 per cent growth a year ago and 5.2 per cent in March 2021, according to the financial stability report released on Wednesday.  

Income tax returns filing for FY21 crosses 5 cr: I-T dept  

Over five crore income tax returns (ITR) for the financial year ended March 2021 have been filed so far, the I-T department said on Wednesday.  

"More than five crore income tax returns for AY 2021-22 filed till 5:45 pm today!" the income tax department tweeted.  

The department has already extended the deadline for individual taxpayers to file income tax returns, by five months till December 31, 2021.  

For the financial year 2019-20, 5.95 crore ITRs were filed till the extended deadline of January 10, 2021.  

NSEIL settles case with Sebi; pays Rs 4.87 cr as settlement fee  

The National Stock Exchange of India Ltd (NSEIL) on Wednesday settled with markets regulator Sebi a case pertaining to alleged violation of Straight Through Processing (STP) services guidelines after paying Rs 4.87 crore towards settlement fee.  

It was alleged that NSEIL functioned as a STP centralised hub without obtaining the renewal of approval from Sebi and also failed to ensure if its STP service providers were having valid approvals, which resulted in violation of several provisions of the STP Guidelines.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 975.23 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1006.93 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.)