The Indian market is likely to in the green Tuesday as global peers trade higher. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50's performance, indicated a positive start for the Indian market as it rose to 17,270, up over 150 points or 0.9 percent, at 9:15 am. Among major pre-market cues today, Nasdaq closed 1.4 percent higher, crude oil is close to a one-month high and Bitcoin is down 2 percent.
Wall Street: Stocks closed higher on Wall Street Monday as S&P 500 notched another record high, rising over 1.5 percent. The Dow Jones rose over 1 percent, and tech-heavy Nasdaq was up 1.4 percent.
Asian equities: Asian shares were trading mixed Tuesday morning following S&P 500 as it notched another record high. MSCI's broadest index of Asia-Pacific shares outside Japan was flat but green. Japan's Nikkei index surged over 1 percent. Chinese blue chips were flat but down. Hong Kong’s HSI declined 0.3 percent. South Korea’s Kospi was up 0.02 percent. Elsewhere, Australian shares rose over 0.4 percent.
D-Street: The Indian shares ended a volatile session higher Monday. Sensex rose 295 points to 57,420. And the Nifty50 index settled at 17,086, up 82 points. Bank Nifty closed half a percent higher.
Crude oil: Oil prices gained more ground Tuesday with prices trading close to a one-month high on expectations that Omicron will have a limited impact on the global demand. The Brent crude rose 0.13 percent to $78.70 and the US oil surged 0.25 percent to $75.76.
Rupee: The rupee rose for the eighth straight session Monday, closing 3 paise higher near four-week high of 75 helped by firm domestic markets. Meanwhile, the dollar index rose 0.21 percent to 96.21.
Gold: Gold futures on MCX Monday declined by Rs 40 to Rs 48,119 per 10 grams. Silver futures for delivery in March rose by over Rs 20 to Rs 62,298 per kilogram. Both precious metals were rising in the international market Tuesday, with gold at $1,810 and silver at $23.04 per ounce.
Bitcoin: Bitcoin corrected 2 percent Tuesday morning to trade at $49,600. The coin is up over 5 percent over the past seven days, per data from coinmarketcap.com. Ether prices also declined 2.5 percent to $3,972.
Bad bank: The Centre-incorporated ‘bad bank’ is likely to start operations from the second week of January, paving the way for a major clean-up of bad loans in the banking system. Continue reading
CAIT: With just about a few days left for the new GST tax rates on textiles and footwear to kick in, the Confederation of All India Traders (CAIT) has approached Finance Minister Nirmala Sitharaman, seeking a deferment of the new rates and chalking out a middle path. Continue reading
Auto industry: To substitute India's petroleum imports, the government has advised automobile makers to start manufacturing flex-fuel vehicles and flex-fuel strong hybrid electric vehicles complying with BS-VI emission norms within six months. Continue reading