Global markets down! More fall coming?
Good Morning Everyone, As discussed in the weekly meeting yesterday, 16800 will be the next level to watch out for on the lower side and 17200-17300 will act as a resistance on the higher side.
Most global markets are down again and we might see some more sell-off in the opening today.
Also as I told you yesterday, today's market movement is very important to decide this week's movement. Let's watch the market closely.
If the fall continues today, let us plan to invest funds to buy some good quality stocks at a discount. Will keep you informed in the community.
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In Friday's session, the Dow Jones Industrial Average fell 1.48% to end at 35,365.44 points, while the S&P 500 lost 1.03% to 4,620.64. The Nasdaq Composite dropped 0.07% to 15,169.68
Asian share markets fell and oil prices slid on Monday as surging Omicron cases triggered tighter restrictions in Europe and threatened to drag on the global economy into the new year.
A seasonal lack of liquidity made for a bumpy start and S&P 500 futures led the way with a 0.7% drop, while Nasdaq futures shed 0.6%.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.4% and Japan's Nikkei 0.7%.
Trends on SGX Nifty indicate a weak opening for the index in India with a 72 points loss.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,069.90 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,478.52 crore in the Indian equity market on December 17
Stock Specific News:
Shriram Properties | The company will make its debut on the bourses today. The issue price has been fixed at Rs 118 per share.
Kotak Mahindra Bank | The bank's subsidiary, Kotak Securities, will buy around a 7.50 percent stake in Entroq Technologies.
Zomato | The company has completed the acquisition of a 7.89 percent stake in Bigfoot Retail Solutions.
Indiabulls Real Estate | The company will meet on December 22 to consider raising funds.
Future Retail | The Competition Commission of India suspended Amazon's deal with Future Group after it reviewed complaints that the American e-commerce giant concealed information while seeking regulatory approval.
Mahanagar Gas | The company has hiked CNG price by Rs 2 to Rs 63.50/kg and PNG by Rs 1.50 to Rs 38/SCM.
UltraTech Cement | The company has commenced operations from its bulk terminal at Kalamboli, Navi Mumbai.
RBL Bank | The lender has been authorised by RBI to collect indirect taxes on behalf of the Central Board of Indirect Taxes and Customs.
GAIL India | The company will set up 500 KL/day bio-ethanol plant in Gujarat.
Brookfield India Real Estate Trust | The REIT approved the acquisition of Seaview Developers, which owns Candor Techspace N2.
Ircon International | The company emerged as the lowest bidder for a project floated by the National Highways Authority of India. Besides, the company entered into a pact with Ayana Renewable Power for setting up a 500 MW solar power plant through a joint venture company which will be incorporated by IRCON International and Ayana.