Indian benchmark indices may start the week on a positive note on Monday following the uptrend in Nifty50 futures listed on the Singapore Exchange. The contract, an early indicator of Nifty50's performance, was up 0.2 percent at 17,741 as of 7:25 am.
Wall Street | Most of the key US indices closed lower on Friday, though gains in several technology companies pushed the Nasdaq Composite index to another record high and its first close over 16,000. The S&P 500 index gave up 0.1 percent and the Dow Jones Industrial Average fell 0.8 percent.
Asian Equities | Shares in Asia-Pacific were mixed on Monday morning with China keeping its benchmark lending rate unchanged. With Covid cases rising again in some parts of Europe, traders are likely to be cautious. Nikkei and Hang Seng were down 0.2 percent each while China's Shanghai Composite was up 0.4 percent.
D-Street | Indian equity benchmarks fell on Thursday amid weak global cues, extending losses to a third straight day. Selling pressure across sectors, led by IT, financial and auto shares, pulled the headline indices lower, though strength in select heavyweights such as HDFC Bank, Reliance Industries and SBI lent some support. Nifty50 had ended 0.8 percent lower at 17764.80 on Thursday while Sensex closed at 59636.01, down 0.6 percent.
Gold | Gold prices stabilised on Monday after hitting their lowest in nearly two weeks, as a retreating dollar lent some support to the metal. Spot gold was little changed at $1,845.48 per ounce by 0055 GMT. U.S. gold futures fell 0.3 percent to $1,846.80.
Crude Oil | US crude prices dropped in early trade on Monday extending big losses on Friday, after Japan said on the weekend it was considering releasing oil reserves to help dampen prices. At the same time, demand concerns are growing as COVID-19 cases surge in Europe. U.S. West Texas Intermediate (WTI) crude futures were down 65 cents, or 0.9%, at $75.25 a barrel at 2327 GMT, after sliding as low as $74.76, the weakest since Oct 1. WTI and Brent prices slumped around 3% on Friday.
Dollar | The safe-haven US dollar traded close to a 16-month high to the euro on Monday on growing anxiety over the impact of surging COVID-19 infections in Europe, with Austria reimposing a full lockdown and Germany considering following suit. The greenback was near its strongest since early October against the riskier Australian and Canadian dollars, with the commodity-linked currencies also pressured by a slump in crude oil.
Rupee | The rupee erased most of its initial gains to settle 4 paise higher at 74.24 (provisional) against the US dollar on Thursday, as some pullback in crude oil prices and a weak greenback in the overseas market supported the local unit. However, a massive sell-off in the domestic equity market was seen restricting the rupee's gain.
Reliance Industries Ltd | “Due to evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” RIL said.
Textile sector | The finance ministry has notified uniform 12 percent GST rate on manmade fibre (MMF), yarn, fabrics and apparel, thereby addressing the inverted tax structure in the MMF textile value chain.
Maruti Suzuki India | The company has ruled out getting back into the diesel segment as it believes sale of such vehicles would further come down with the onset of the next phase of emission norms in 2023, as per a report.