10 things to know before you make your opening trade on December 9

The Indian markets for second straight session closed positive on Wednesday, as RBI MPC kept repo rate unchanged and maintained accommodative stance. Sensex gained by over 1000 points and Nifty50 reclaimed important level above 17450-mark.   

Mohit Nigam, Head - PMS, Hem Securities said, “Benchmark Indices continued its upward journey on the second consecutive day with Nifty and Sensex hovering near day’s high. The Nifty reclaimed 17450 levels. Among sectors, all the key indices were trading with a positive momentum.”  

He added, “RBI will maintain accommodative stance as long as necessary to revive and sustain growth which gives a clear signal that RBI is giving a strong and durable support to the economy without downsizing any support which will be beneficial for the equity markets as well.”  

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“Hence, the markets have given a stellar run up today giving a thumbs up to RBI's comments today. Despite record equity selling by FIIs, RBI has done well to defend the currency and made sure that imported inflation is under check”, the analyst said in a note.  

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 markets closed with stregth for the third consecutive day on Wednesday. Dow Jones gained 0.99% or 35.32 points or 0.099 per cent to 35,754.75, Nasdaq Composite gained 100 points or 0.64per cent to 15,786.99 and S&P 500 setteled for 4,701.21, up 14.46 points or 0.31% in Wednesday's closing.  

Asian Markets:  

The Asian markets were trading mixed this morning. Japanese Nikkei 225 was trading 0.12% or 33 points lower, Hang Seng Index was up 1.13 per cent and Shanghai Composite was trading flat with positive bias with 0.07 per cent gain around 7.15 am.   

SGX Nifty:  

SGX Nifty Futures hinted positive opening for the Indian markets as the index traded higher by 54 points to 17,539.00 around 7.15 am in the early trade on Wednesday morning.   

Output gap may take many years to close, says RBI  

Admitting that credit growth is "very low" given the size and growth rate of the economy, the Reserve Bank on Wednesday said for both the numbers to match, "the very very wide output gap" has to close.  

The central bank also clarified that low credit growth does not necessarily mean low credit flow to the economy, or choking of credit to the system, as bank credit growth numbers that the central bank publishes regularly represent only the outstanding credit in the system.  

Output gap means due to poor demand conditions, companies are unable run their plant at full installed capacity or, in a larger sense, an economy is not producing optimally as the demand is missing.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 579.27 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1735.5 crore, provisional data showed on the NSE.  

Stocks under F&O ban on NSE    

One stock: Indiabulls Housing Finance placed under the F&O ban on Wednesday. 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.  

Shriram Properties IPO garners 89% subscription on first day  

The initial public offer of Shriram Properties attracted 89 per cent subscription on the first day of the offer on Wednesday.  

The quota for the Retail Individual Investors (RIIs) was subscribed 4.85 times. The realty player is the 57th company to come out with an Initial Public Offer (IPO) so far this calendar year.  

The latest data available on the BSE showed that for 2,93,51,639 shares of the company on offer, bids were received for 2,60,79,375 shares, which translates to a subscription of 89 per cent.  

For the RII category, there were bids for 2,56,48,125 shares against 52,83,185 shares on offer.  

Rategain Travel Tech IPO gets 75% subscription on 2nd day  

The initial public offer of Rategain Travel Technologies Ltd received 75 per cent subscription on the second day of the offering on Wednesday, with the retail investors' portion getting subscribed 3.98 times.  

The sale, which opened on Tuesday, attracted bids for 1,29,32,815 shares as against 1,73,51,146 shares on offer. This translates to 75 per cent subscription, according to latest data available with the BSE.  

A fresh issue of up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares make up the Initial Public Offer (IPO). The price band for the offer is Rs 405-425 per share.  

The category reserved for Retail Individual Investors (RIIs) was subscribed 3.98 times with more than 1.24 crore bids coming in. Around 31.31 lakh shares are on offer in this segment.  

Oil steadies as investors assess Omicron’s impact  
Oil prices edged lower in choppy trade on Wednesday, taking a breather after gains earlier this week, as investors assessed the impact of the Omicron coronavirus variant on the global economy.  

The market had a muted reaction to U.S. weekly inventory figures, which showed a smaller-than-anticipated decline in crude stocks and another bump up in overall production, giving credence to expectations that supply will increase in coming months. [EIA/S]  

Brent crude futures were down 15 cents, or 0.2%, to $75.29 a barrel at 10:52 a.m. EDT (1552 GMT). U.S. West Texas Intermediate crude was at $71.94 a barrel, down 16 cents or 0.3%.  

Brent crude prices have rebounded by over 9% since Dec. 1 on signs Omicron has had only a limited impact on oil demand, after a 16% drop since Nov. 25.  

Rupee slips to near 2-month lows  

The Indian rupee fell to a near two-month low of 75.50 against the US dollar on Wednesday as RBI's bi-monthly monetary policy decision failed to enthuse forex market participants.  

Meanwhile, the Reserve Bank left the key policy rate unchanged and retained its accommodative policy stance to support economic growth.  

At the interbank forex market, the local unit opened strong at 75.38 against the greenback but could not hold on to the gains and slipped into negative territory. The local unit witnessed an intra-day high of 75.36 and a low of 75.57.  

It finally ended at 75.50 against the American currency, registering a fall of 6 paise over its previous close of 75.44.  

‘Over 1.26 lakh jewellers registered for gold hallmarking during July-Nov’  

More than 1.26 lakh jewellers have registered for gold hallmarking since its mandatory implementation from June this year, the government said on Wednesday.  

Mandatory gold hallmarking, a purity certification of the precious metal, came into force from June 23 in a phased manner. The government has identified 256 districts from 28 states and union territories for its phase-1 implementation.  

Minister of State for Consumer Affairs Ashwini Kumar Choubey, in his written reply to the Lok Sabha, said about 1,26,373 jewellers have registered for hallmarking as of November 30.  

And about 4.29 crore pieces of jewellery have been hallmarked since the implementation of mandatory hallmarking of gold ornaments from July 1 to November 30, he said.  

(With inputs from PTI, Reuters and other agencies)  

(Disclaimer: The views/suggestions/advices 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.)