Market Ahead, December 11: Top factors that could guide markets today

The BSE Sensex locked its five-session winning run to finish at 144 points lower on Thursday. The more extensive NSE Nifty also finished 0.38 per cent lower. Nevertheless, the national benchmark indices are anticipated to return to their winning methods today as shown by the SGX Nifty which was trading 30 points up at 13,550 levels.

This arises on the back of a mixed-to-positive trend in global markets. The central Wall Street indices stopped mixed overnight among Covid-19 aid package confidence and jobless profits topping to a near three-month high. To sum it up, the Dow Jones fell 0.23 per cent, the S&P 500 lost 0.13 per cent and the Nasdaq appended above half a per cent.

In Asia, stocks remained mixed early, on December 11. Australian ASX 200 was under 0.3 per cent in first-morning tradings, while Japan’s Nikkei also down 0.7 per cent. Kospi gained 0.8 per cent. While, in Britain, Prime Minister Boris Johnson stated there existed a “strong possibility” the country could break from the European Union without a trade arrangement.

In products, oil prices escalated approximately 3 per cent, with Brent cracking levels not seen following early March, on faiths of a quicker restoration thankfulness to Covid-19 vaccines. Brent crude surged 2.8 per cent to settle at $50.25 a barrel. Investors will trace global ideas for the more comprehensive drift, but will also watch macro data, Covid vaccine newsflow, and stock-specific improvements.

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In terms of macro data, manufacturing production and inflation data are set to be published post market hours soon. CPI in India raised to 7.61 per cent in October from 7.27 per cent in September. On the Covid aspect, India’s position tally now stands at 97.96 lakh while the country’s death losses have mounted to 1.42 lakh.

Let’s look at some improvements that might trigger stock-specific responses.

Shares of UPL will proceed to be in focus on Friday after the administration explained that the matter flagged by a whistleblower was an earlier matter and was informed to the audit committee in 2017. After an independent examination, the matter was settled, it said.

The offer-for-sale for the IRCTC got a favourable acknowledgement from non-retail investors recently as the issue was supported nearly two times on day one. Retail investors will get the opportunity to bid for the OFS today, which is the last day for the distribution.

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The TVS group on Thursday elected to go for restructuring by providing each family group comprehensive ownership of businesses they will manage and discarding the holding company. There won’t be any cross-holdings, the family has agreed, according to the current terms. And, state-run Canara Bank recently said it has accepted the issue price at Rs 103.50 per share for its adequate institutional placement to accumulate Rs 2,000 crore.

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