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Stock Market Today: Top 10 critical updates to know before the market opens

Market Opening Trends, Stock market Today:

  • GIFT Nifty indi­cates a pos­i­tive start, with a gain of 56 points (0.27%).
  • Sen­sex cur­rent­ly trad­ing at 69970, up by 42 points and Nifty at 21014 up by 17 points.

Milestones in Indian Equity:

  • In a remark­able ses­sion on Decem­ber 11, the Sen­sex achieved a his­toric high, cross­ing the 70,000 mark for the first time.
  • Simul­ta­ne­ous­ly, the Nifty reached a new pin­na­cle at 21,026.10, show­cas­ing wide­spread buy­ing across sec­tors, except for phar­ma.

Closing Figures:

  • Sen­sex closed at 69,928.53, reg­is­ter­ing a gain of 102.93 points (0.15%).
  • Nifty closed at 20,997.10, up 27.70 points (0.13%).

Nifty Pivot Points:

  • The piv­ot point cal­cu­la­tor sug­gests imme­di­ate resis­tance at 21,021, fol­lowed by 21,046 and 21,085.
  • On the low­er side, poten­tial sup­port lev­els are at 20,943, 20,919, and 20,880.

GIFT Nifty Futures:

  • Nifty futures are trad­ing around the 21,147 lev­el, indi­cat­ing pos­i­tive sen­ti­ment.

Asian Markets:

  • Asian mar­kets exhib­it­ed pos­i­tive trends on Tues­day, with Japan’s Nikkei ris­ing by 0.66%.
  • Tai­wan Weight­ed and Kospi also showed gains of 0.4% and 0.3%, respec­tive­ly.

Corporate News:

Tata Consultancy Services (TCS) Buyback:

  • TCS deter­mines a buy­back accep­tance ratio of around 35%.
  • Small share­hold­ers’ buy­back ratio set at 1 share for every 6 shares held.
  • For oth­er share­hold­ers, the ratio is 2 shares for every 209 held.

SpiceJet Board Meeting:

  • Spice­Jet resched­ules its board meet­ing to con­sid­er fundrais­ing and Q2FY24 results to Decem­ber 12.

Sterling and Wilson Renewable Energy QIP:

  • Ster­ling and Wil­son Renew­able Ener­gy launch a qual­i­fied insti­tu­tion­al place­ment (QIP) issue.
  • Floor price set at Rs 365.02 per share, with a poten­tial dis­count of up to 5%.

Oil Prices:

  • Oil prices main­tained sta­bil­i­ty on Tues­day, await­ing key inter­est rate pol­i­cy and infla­tion data.
  • Brent crude futures at $76.03, while U.S. West Texas Inter­me­di­ate crude futures at $71.35.

Dollar Index:

  • The yen faced loss­es on Tues­day as traders adjust­ed expec­ta­tions for a Japan rate hike.
  • The dol­lar is await­ing US infla­tion data and var­i­ous cen­tral bank meet­ings.

Gold Prices:

  • Gold prices declined on Mon­day due to a firmer US dol­lar.
  • Spot gold down 0.5% at $1,993.44 per ounce, while US gold futures eased 0.3% to $2,009.30.

FII and DII Data:

  • For­eign insti­tu­tion­al investors (FIIs) net bought shares worth Rs 1,261.13 crore.
  • Domes­tic insti­tu­tion­al investors (DIIs) sold Rs 1,032.92 crore worth of stocks on Decem­ber 11.

Infosys Stock Update:

  • Infos­ys faces chal­lenges as CFO Nilan­jan Roy resigns, caus­ing a near­ly 3% drop in ADRs.
  • Mor­gan Stan­ley notes sur­prise and antic­i­pates poten­tial sen­ti­ment impact.
  • Jayesh Sanghra­j­ka to take over as new CFO from April 1, 2024.
  • Infos­ys is cur­rent­ly trad­ing at 1477 down by 10 points.

Jammu and Kashmir Bank QIP:

  • Jam­mu and Kash­mir Bank ini­ti­ates a Qual­i­fied Insti­tu­tion­al Place­ment (QIP) to raise Rs 750 crore.
  • Floor price set at Rs 112.66 per share, reflect­ing a dis­count of 10.02% from the pre­vi­ous clos­ing price.

In sum­ma­ry, the Indi­an stock mar­ket antic­i­pates a pos­i­tive open­ing, sup­port­ed by recent mile­stones, cor­po­rate actions, and glob­al mar­ket trends. The volatil­i­ty in oil prices, the dol­lar index, and gold prices adds to the intri­cate mar­ket dynam­ics. Investors are close­ly watch­ing key cor­po­rate devel­op­ments, includ­ing Infos­ys’ CFO res­ig­na­tion and Jam­mu and Kash­mir Bank’s QIP, as they nav­i­gate the day’s trad­ing land­scape.

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