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Share Market LIVE Updates: The Sensex and Nifty 50 are expected to begin falling in response to global trends

Share Market LIVE Updates: The Sensex and Nifty 50 are expected to begin falling in response to global trends

 In contrast to an index of global equities, which increased by 0.21 percent, MSCI’s broadest index of Asia-Pacific shares outside of Japan increased by only 0.04 percent.

The strong tightening of monetary policy by central banks in 2022 caused the pan-European STOXX 600 index to lose over 12 percent of its value, but it has since recovered part of that loss.

With many markets idle for a vacation and a slew of economic reports expected this week, traders were hesitant to trust early-year beginnings in stock and bond movements.

The minutes from the US Federal Reserve meeting in December, European inflation statistics, and US labour market data were some of the things Piet Haines Christiansen, chief analyst at Danske Bank, thought would be worth monitoring.

Christiansen advised caution when analysing any changes made this morning.

Australian, British, Hong Kong, Irish, Japanese, Singaporean, and American markets were all closed.

Christiansen anticipated that central banks and inflation would once again be in the spotlight when the new year began. He warned that traders will be on the lookout for any warning indications of an impending recession.

He said that the reason for Europe’s buoyant stock prices may be related to survey findings released on Monday that suggested a resurgence in manufacturing managers’ optimism in the euro zone.

The final manufacturing Purchasing Managers’ Index (PMI) from S&P Global increased from 47.1 in November to 47.8 in December, matching a preliminary figure but falling short of the 50-point threshold distinguishing expansion from contraction.

According to Russ Mould, investment director at AJ Bell, “Europe is taking the most recent round of PMIs well enough, as the final readings help to confirm the view (hope?) that the worst may be over for the EU bloc’s manufacturers, especially as energy prices have declined to levels from last February.”

Struggling to maintain strength, Dollar

In other news, the euro and pound both declined by 0.4 percent and 0.3 percent, respectively, while the dollar moved up almost 0.1 percent versus a basket of major currencies.

Ulrich Leuchtmann, head of currency research at Commerzbank, stated: “There is an attempt by the dollar index to climb higher today but we do see that it is losing a large portion of the power it earned last year.”

“The market was not convinced following the most recent Fed meeting that interest rates wouldn’t be lowered later in 2023. The coming year is going to be fascinating.”

Following a vacation on Monday, US Treasury trading will resume on Tuesday.

In response to more hawkish signals from the European Central Bank, German government bond rates on Monday declined from their highest levels in more than a decade (ECB).

According to ECB President Christine Lagarde, salaries in the euro zone are increasing more quickly than previously anticipated, and the central bank must stop this from driving up inflation, which is already high.

After reaching its highest level since 2011 on Friday at 2.57 percent, the yield on Germany’s 10-year bonds dropped 13 basis points to 2.43 percent.

Despite the fact that oil markets were closed, a Reuters poll on Friday indicated that oil prices are expected to rise modestly in 2023 as a result of COVID-19 outbreaks in China and a deteriorating economic environment that threaten demand growth and counteract the effects of supply shortages brought on by Russian sanctions.

 Here are the stocks to watch out for in today’s trading session

ONGC  From its previous rate of Rs. 1,700 per tonne, the federal government has hiked the windfall tax on domestically produced crude oil to Rs. 2,100 per tonne. The new pricing are in place as of right now. Following the drop in oil prices, windfall tax was reduced on December 16 to Rs 1,700 per tonne from Rs 4,900 per ton.
On Monday, the food aggregator Zomato announced the resignation of Gunjan Patidar, a co-founder and CTO. According to the business, Patidar was one of its initial few workers and established the key technological infrastructure. In the past two months, there have been four high-profile departures from the organization.
Mahindra & Mahindra Finance  Disbursements increased by 80% year over year to Rs. 14,450 crore. The quarter’s collection efficiency remained at 95%. In the current month and quarter, Stage 3 and Stage 2 assets have witnessed a sequential improvement. Stage 3 assets are estimated by the corporation to be 6.2 percent, while stage 2 assets are estimated to be 8.5 percent. Nearly Rs 77,000 crore in business assets, up 4.3% from the previous quarter.
CSB Bank  Total deposits increased by over 19% while gross advances increased by over 25% from the prior year’s December quarter. During the quarter, advances against gold and gold jewellery increased by 50.8 percent to Rs 8,772 crore. Additionally, it is higher than the Rs 8,027 crore amount for the September quarter.
According to the lender’s business update, advances during the December quarter increased 12.3 percent year over year while total deposits grew 7.9 percent. CASA climbed by over 10%, and the CASA ratio increased from 31.3 to 31.9 percent during the course of the year.
South Indian Bank  While deposit growth was just 3% in the December quarter, gross advances increased by 18% year over year. From 31.95 percent last year, the CASA ratio climbed by 189 basis points to 33.84 percent this year.

HFCL |Acquires a 95.38 crore rupee order for optical fibre cables from Reliance Projects and Property Management Services Ltd. By next month, the order is meant to be carried out.
For a government project worth Rs 1,364.47 crore to create a cutting-edge high rise office building for the Surat Municipal Corporation, PSP Projects | Emerges as the L1 bidder.
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