Stock Market: 10 things to know before the market opens
The market is expected to open slightly higher as the SGX Nifty tends to show a positive opening for the broader Indian index with a gain of 37.50 points. BSE Sensex jumped 721 points to 60,566, while Nifty50 rose 208 points to 18,015 and formed a strong bullish candle on the intraday chart, taking support at 17,800-17,850 level after forming a long bearish candle in the previous trade. According to the pivot chart, the main support level for Nifty is 17839 followed by 17766 and 176 8. If the index goes up, the main resistance levels are 18076 and 181 9 and 18267. Stay tuned to Money control to know what is happening. program Forex and stock markets today. We have compiled a list of the most important news platform headlines that could impact Indian and international markets:
Asian markets traded in early trade on Tuesday, with the Nikkei, Taiwan and Kospi each up 0.5 percent.
SGX Nifty trends suggest a positive opening for the broader Indian index, up 37.50 points. Nifty futures traded around 18,066.50 on the Singapore Exchange.
US retail sales rose 7.6% during the holiday season
US retail sales rose 7.6% from November 1st to December 2th. between, covering most of the holiday season, when steep discounts lured deal-hungry consumers, a report from Mastercard showed on Monday. , The increase is greater than the 7.1 percent increase Mastercard had forecast in September, when it expected consumers to push their purchases into October in search of early bird deals. However, this year’s holiday sales growth is less than 8.5 percent higher than last year, as decades of high inflation, rising interest rates and the threat of recession have made consumers wary.
Japan’s unemployment rate fell to 2.5 percent in November
Japan’s unemployment rate fell to 2.5 percent in November, while job availability remained at the highest level since March 2020, government data showed on Tuesday. , The seasonally adjusted jobless rate met the median forecast of economists in a Reuters poll and fell from 2.6 percent in October. According to the Ministry of Labour, the ratio of, job seekers was 1.35, the same as in October.
BOJ Kuroda rejects short-term exit from easy policy
Bank of Japan (BOJ) President Haruhiko Kuroda on Monday rejected an exit from ultra-loose monetary policy, even as markets and policymakers show increasing attention. about what happens after Kuroda’s term ends. Investors continued to lift Japanese government bond (JGB) rates on expectations that the BOJ will loosen its yield controls under a new governor when Kuroda’s second five-year term ends next April.
The dollar fell sharply on Tuesday, while currencies from Australia and New Zealand rose on risk appetite after China said it would drop its COVID quarantine rule on incoming travelers, a major step to ease border restrictions. . New Zealand dollar rose 0.65 percent to $0.63115, while the Aussie gained 0.25 percent to $0.67 85, mainly on a light year-end holiday. These two currencies are often used as liquid exchange values for the Chinese yuan.
There is no proposal to the government to lower the limit for electronic invoicing CBIC announced on Monday that no proposal has been made to the government to lower the mandatory limit for electronic invoicing from January 1. Currently, companies with a turnover of at least 10 million rupees are required to generate e-invoices for all B2B transactions. “There is currently no proposal pending before the State Council to reduce this threshold to Rs5 crore from 01.01.2023 as no such recommendation has been made by the GST Council,” the Central Bureau of Indirect Taxes and Customs (CBIC) said tweeted. Government may announce new industrial policy; new card investment subsidy scheme After 31 years, the government plans to issue a new industrial policy statement aimed at presenting India as an attractive investment destination to the world. According to sources, the Ministry of Commerce and Industry circulated a draft of the new policy to seek comments from relevant ministries. According to the bill, a new system for investment subsidies is proposed to attract new industries to industrially backward countries. This includes interest subsidy for setting up new institutions in the hill states.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth 97.65 crores, while domestic institutional investors (DIIs) bought shares worth 1285.7 crores on December 26, according to preliminary data from NSE.
Stocks under FandO ban by NSE
The national stock exchange added the Punjab National Bank to its FandO ban list on December 27. Prohibited securities in the FandO segment include firms whose derivative contracts exceeded 95 percent of the market-wide position limit.