Rupee Hits Fresh Low Against US Dollar
Market breadth was skewed in favour sellers. Around 3,476 stocks declined, 652 stocks declined, and 114 stocks remained unchanged on BSE.
Dec Total Jaguar sales down 64% at 382 units vs 1,068 units (YoY)
Dec Total Land Rover sales down 20% at 3,629 units vs 4,519 units (YoY)
Total Jaguar sales rose 16.7% to16,617 units vs 14,235 units (YTD)
Total Land Rover sales rose 14.8% at 61,290 Units vs 53,388 units (YTD)
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The human metapneumovirus (HMPV) outbreak in China, and two cases in Bengaluru have prompted health authorities in India to take precautionary measures. Speaking to NDTV Profit, Dr. Rakesh Verma, principal consultant at the Ministry of Health, addressed the situation and provided guidance on how to manage this new 'threat'.
Read story here.
The Nifty 50 was off nearly 10% from the 52-week high of 26,277 hit on Sept. 27 last year. It was trading at 23,611 as of 1:55 p.m.
The total market capitalisation of stocks in the 50-share Nifty fell Rs 3.25 lakh crore.
Indian benchmark indices declined 1.4% as of 1:21 pm. The Nifty 50 was down 320 points to around 23,670 while the BSE Sensex lost over 1,000 points to hover just above 78,000. ITC Ltd. was the top drag in the Nifty 50 in terms of points contribution.
Read the reasons for the selloff here.
The Indian rupee hit another all time low of 85.846 against the US dollar, as per Bloomberg data.
The Nifty IT index is the sole sectoral holdout in Monday's selloff. The index was up 0.2% at 43,812.35, while the benchmark Nifty and Sensex were down 1.1% each as of 1:10 p.m.
Wardwizard Innovations & Mobility has signed a strategic memorandum of understanding with C4V to strengthen the development of battery technology, according to an exchange filing.
ITC Hotels Listing: All You Need To Know About Demerger, Listing, Valuation, Ex- Date, Trading Details
Standard Glass Lining Technology IPO was oversubscribed within the first few hours of the issue opening on its day one.
The price band is set from Rs 133 to Rs 140 per share. The Rs 410.05-crore IPO issue is a combination of a fresh issue of Rs 210 crore and rest offer for sale.
The IPO has been subscribed 2.74 times as of 10:51 a.m. on Monday.
Qualified institutional buyers: Nil.
Non-institutional investors: 3.74 times.
Retail investors: 3.82 times.
Read story here.
Indian benchmark indices declined 0.5% as of 10:45 a.m.
The Nifty 50 was down over 130 points to 23,860 while the BSE Sensex lost 400 points to 78,800.
The rupee declined 4 paise to a record low of 85.82 against the US Dollar. The local currency opened flat at 85.77 a dollar Monday. It closed at 85.78 a dollar on Friday.
Internationally, the dollar index was marginally below 109.
Source: Bloomberg
Read here.
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Rupee opens flat against US dollar.
The domestic unit opened at 85.77 against the US dollar.
It closed at 85.78 on Friday.
Source: Bloomberg
Osho Krishan of Angel One, Vaishali Parekh of Prabhudas Lilladher, Aditya Agarwala of Invest4edu; and Sudeep Shah of SBICAP Securities share their buy calls, which can deliver upside of up to 7%.
Read the analyst calls and trading tips here.
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The Nifty January futures were down by 0.86% to 24,092 at a premium of 88 points, with the open interest down by 1.48% on Friday.
The open interest distribution for the Nifty 50 Jan. 9 expiry series indicated most activity at 26,500 call strikes, with the 21,850 put strikes having maximum open interest.
Global Economic Data This Week, ITC Record Date, Q3 Updates | Rise With Profit
Today, the only macro data to be released is HSBC Flash India Composite Output Index—a seasonally adjusted index to measure combined manufacturing and services output. The reading will be for the month of December.
In November, the index rose to to 59.5, from a final reading of 59.1 in October.
The Bloomberg Dollar Spot Index down 108.9
The euro up 0.05% to $1.0313
The British pound up 0.1% to $1.2437
The Japanese yen down 0.2% to 157.61 per dollar
Japan’s benchmark Nikkei 225 index dipped 0.75% to 39,557 in its first session after a prolonged holiday.
South Korea's Kospi was trading near 2,450, up 0.26%.
China's Shanghai Composite plunged 0.5% to 3,195 while the broader CSI 1000 was up 0.16% at 5,634.
In Australia, shares climbed as much as 0.4%.
Read story here.
US stocks on Friday recovered after a five-day losing streak, buoyed by renewed interest in major tech stocks.
The S&P 500 finished 1.26% higher at 5,942.5, while the Nasdaq Composite advanced 1.77% to 19,621.68. The Dow Jones also increased by 0.8%, closing at 42,732.13.
Early Monday, US futures were little changed. S&P 500 contracts are down 0.1% at 5,983.75, while those for Dow Jones down 0.1% at 42,979. Nasdaq futures were trading 0.14% lower at 21,486.5.
The dollar showed mixed results against major currencies, with the yen retreating slightly from its late-week gains, trading around 157 per dollar. The US Dollar Index stood at 109.01.
Read story here.
Stock Market Highlights: Sensex, Nifty End Lower, But Post Second Consecutive Weekly Gains