scorecardresearchStocks To Watch: HDFC, IRCTC, NBCC, NDTV are stocks in news today

Stocks To Watch: HDFC, IRCTC, NBCC, NDTV are stocks in news today

Updated: 20 Dec 2022, 08:14 AM IST
TL;DR.
Wall Street equities extended losses for the fourth day in a row, as risk-off sentiment prevailed in the pre-holiday week. Investors await key macroeconomic data due later this week - housing starts, existing home sales, consumer spending and inflation - for cues into the extent of the Fed policy's impact.
The Nifty50 rose 0.27% to end the day at 18,562.75, while the S&P BSE Sensex climbed 0.34% to settle at 62,504.80. (Photo: Mint)

The Nifty50 rose 0.27% to end the day at 18,562.75, while the S&P BSE Sensex climbed 0.34% to settle at 62,504.80. (Photo: Mint)

(Reuters) - Indian shares are set to open lower on Tuesday on recession fears in the U.S. and a surge in COVID-19 cases in China, which has offset optimism over loosening strict pandemic restrictions.

India's NSE stock futures listed on the Singapore exchange were down 0.21% at 18,447.50, as of 7:07 a.m. IST.

Wall Street equities extended losses for the fourth day in a row, as risk-off sentiment prevailed in the pre-holiday week. Investors await key macroeconomic data due later this week - housing starts, existing home sales, consumer spending and inflation - for cues into the extent of the Fed policy's impact. 

Asian markets declined on weak cues, such as a surge in new COVID-19 infections in China and weak macroeconomic indicators, with MSCI Asia ex Japan falling 0.54%. China's business confidence fell to its lowest in nearly a decade.

Investors also await the Bank of Japan's monetary policy decision today - the final central bank decision for 2022.

Capping gains in Indian markets could be oil prices, which rose marginally on a weaker dollar and a U.S. plan to restock its strategic petroleum reserve. [O/R]

The movement in oil prices has a direct impact on local inflation as India is one of the largest importers of the commodity.

Foreign institutional investors sold 5.38 billion rupees ($65.14 million) worth of equities on a net basis on Monday, while domestic investors bought 6.87 billion rupees ($83.17 million) of shares, as per provisional NSE data.

Stocks To Watch:

** Housing Development Finance Corporation: Co increases retail prime lending rate on housing loans by 35 basis points from today.

** IRCTC: Life Insurance Corporation of India raises stake in IRCTC by 2.273% to 7.278%.

** NBCC: Co gets work order worth 693 million rupees from Odisha Power Transmission Corporation.

** New Delhi Television: Vishvapradhan Commercial acquires an additional 8.27% stake in co at 294 rupees per share via open offer, taking its overall shareholding to 37.45%.

 

First Published: 20 Dec 2022, 08:14 AM IST