The market is expected to open in the red on December 29 as trends in the SGX Nifty indicate a weak start for the broader index in India with a loss of 74 points.
In the previous session, the BSE Sensex declined 17 points to 60,910, while the Nifty50 fell 10 points to 18,122 and formed a bullish candle on the daily charts as the closing was higher than the opening levels
As per the pivot charts, the key support level for the Nifty is placed at 18,081, followed by 18,056 & 18,016. If the index moves up, the key resistance levels to watch out for are 18,161 followed by 18,186 and 18,226.
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 main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.
The Nasdaq Composite ended at 10,213.288, the lowest since the bear market began in November 2021 after the index hit a record high. The last time the Nasdaq ended lower was in July 2020. Its previous closing low for 2022 was 10,321.388 on Oct. 14.
The Dow Jones Industrial Average fell 365.85 points, or 1.1 percent, to 32,875.71; the S&P 500 lost 46.03 points, or 1.20 percent, at 3,783.22; and the Nasdaq Composite dropped 139.94 points, or 1.35 percent, to 10,213.29.
Asian Markets
Asian Markets were trading lower in the early trade on Thursday with Nikkei, Kospi, Taiwan Weighted down 1 percent each, while Straits Times down 0.5 percent.
SGX Nifty
Trends in the SGX Nifty indicate a weak start for the broader index in India with a loss of 74 points. The Nifty futures were trading around 18,063 levels on the Singaporean exchange.
DoT dials telcos on call drops, service quality issues
The telecom department on Wednesday met operators to discuss rising instances of call drops and service quality-related issues, as it deliberated on policy interventions that can be considered for improving call quality.
The meeting, which comes amid the rollout of massive 5G networks in the country, was chaired by Telecom Secretary K Rajaraman and attended by telecom service providers, including Bharti Airtel, Reliance Jio, and Vodafone Idea.
Indian Railways denies reports of data breach, says IRCTC carrying out further investigation
The Indian Railways has denied reports that it suffered a data breach on December 27, amid reports surfacing that the Indian Railway Catering and Tourism Corporation's (IRCTC) data is up for sale on a hackers’ forum.
"On analysis of sample data, it is found that the sample data key pattern does not match with IRCTC history API. Reported/suspected data breach is not from the IRCTC servers," an Indian railway spokesperson said in a media statement.
The Indian Railways while denying the report by TechloMedia said it has shared a possible data breach incident alert of CERT-In to IRCTC reporting a data breach pertaining to Indian Railways passengers.
The Indian Railways added that further Investigation on the possible data breach is being done by IRCTC.
KFin Technologies to make stock market debut
KFin Technologies: The financial services platform will make its debut on the BSE and NSE on December 29. The issue price has been fixed at Rs 366 per share.
Dollar hits one-week high vs yen
The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as COVID-19 curbs loosen.
The dollar rallied by as much as 0.67 percent against the yen to 134.40 in Asian trading, the most since Dec. 20, when the Bank of Japan sent the pair spiraling lower with an unexpected loosening of the 10-year Japanese government bond yield policy band.
The dollar was last up 0.55 percent against the Japanese yen at 134.240.
Oil
Oil prices settled lower on Wednesday as traders weighed concerns over a surge in COVID-19 cases in China, the world's top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand.
Brent crude futures fell $1.07, or 1.3 percent, to settle at $83.26 a barrel, while U.S. West Texas Intermediate crude futures settled at $78.96 per barrel, down 57 cents, or 0.7 percent.
FII and DII data
Foreign institutional investors (FIIs) have net-offloaded shares worth Rs 872.59 crore, while domestic institutional investors (DIIs) net-purchased shares worth Rs 372.87 crore on December 28, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
The National Stock Exchange has retained Balrampur Chini Mills and Indiabulls Housing Finance under its F&O ban list for December 29, the monthly futures & options expiry day. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.
With inputs from Reuters and other agencies