According to an analyst import duties to curb dumping coupled with the PLI scheme need to assist corporate India and the coming week ahead of Christmas promises to be an fascinating week ahead
Nifty futures had been trading 49 points reduced at 13,733 on Singaporean Exchange, indicating a damaging opening for BSE Sensex and Nifty 50 on Monday. In the preceding session, headline indices rose from the day’s lows and ended marginally larger. According to an analyst, provided the upcoming Budget preparations and thrust on reforms, the value of great healthcare infrastructure has turn out to be a priority. “Import duties to curb dumping coupled with the PLI scheme should in our view help corporate India and the coming week ahead of Christmas promises to be an interesting week ahead,” stated S Ranganathan, Head of Research at LKP Securities.
Global watch: Asian stock markets had been trading reduced in the early trade on Monday. Japan’s Nikkei 225 fell .59 per cent whilst the Topix index was down .66 per cent. South Korea’s Kospi was down .4 per cent. On Friday, US stocks ended reduced due to uncertainty about a coronavirus stimulus deal. The Dow Jones Industrial Average fell 124.32 points, the S&P 500 lost 13.07 points, and the Nasdaq Composite dropped 9.11 points.
EU nations halt UK flights: According to a news report by Associated Press, various European Union (EU) nations banned flights from the UK on Sunday and other people had been thinking of comparable action in a bid to block a new strain of coronavirus sweeping across southern England from establishing a sturdy foothold on the continent.
FII and DII information: Last week on Friday, foreign portfolio investors (FPI) lapped up shares worth Rs 2,720.95 crore whilst domestic institutional investors (DIIs) sold shares worth Rs 2,424.61 crore on a net basis in the capital industry, according to the information readily available on NSE.
Nifty assistance and resistance: “Nifty continued with range movement and showed upside recovery from the intraday dip. The consolidation movement could continue for the early part of next week, before showing further upside momentum in the mid part. The next crucial long term resistance to be watched around 13900-14000 levels for the next 1-2 weeks. Immediate support is placed at 13660,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Bulk bargains: Adani Logistics sold 15.14 lakh shares of Snowman Logistics at Rs 56.54 per share. While Vanguard Emerging Markets Funds purchased 51.19 lakh shares of Mindspace Business Parks REIT at Rs 321.88.