Sensex, Nifty50 to open in the red amid mixed global cues – Reliance Industries, Rail Vikas Nigam, IEX among stocks to watch out for
By The Businessinsider
- SGX Nifty, an early indicator of how the markets may perform, declined 0.45% or 83 points early in the morning today.
- Global markets were mixed on Wednesday amid rising concerns of inflation surging as China relaxes Covid restrictions.
- RIL, Rail Vikas Nigam, Indian Energy Exchange and Punjab & Sind Bank are among stocks to watch out for on December 28.
India’s benchmark indices Sensex and Nifty50 are likely to open in the red on Wednesday amid mixed global cues.
SGX Nifty, an early indicator of how the markets may perform, declined 0.45% or 83 points early in the morning today.
Equity markets around the world were mixed on Tuesday evening and Wednesday morning amid rising concerns of inflation surging
as China relaxes Covid restrictions. US treasury yields also rose on this account, adding to the pressure on equity markets in a holiday
shortened week. Earlier yesterday, Sensex rose 0.6% to close at 60,927 points, while Nifty50 gained 0.65% toclose at 18,132 points, led by a
rally in metal and realty stocks. The benchmark S&P 500 fell 0.4%, while Dow Jones Industrial Average wasmarginally up by 0.11%.
The tech-heavy Nasdaq fell 1.38%, however, led by a rout in the Tesla stock which continued to decline and fell 11%.
Markets in Asia were mixed, too, with the Hang Seng index rising 2.25% to cross the 20,000 level for the first time since August this year.
The Taiwan Weighted index declined 0.99%, while KOSPI fell 2.25%. Nikkei 225 declined 0.29%, while the Shanghai Compositendex
wasdown 0.17% .
Crude oil prices remained on the boil, rising 0.15% to $84.82 per barrel after Russia announced a ban on supply of crude oil to countries that
imposed the price cap.
The ban will go into effect in February 2023.
Stocks to watch
Reliance Industries: After acquiring Metro Cash & CarryIndia last week, Reliance Retail is expected to convert those 31outlets into B2
stores, which cater to bulk buyers and kirana stores, according to a report by Business Standard.
RIL, Adani Enterprises/ BPCL, GAIL: According to a Reuters report, India is planning a $2 billion incentive program for the green
hydrogen industry in a bid to cut emissions.
Rail Vikas Nigam: The company has received a letter of award for appointment as project implementation agency for the UTF Harbor
project in Maldives.
This is a strategic project of the government and the cost is pegged at ₹1,544.60 crore.
Indian Energy Exchange: The company announced the setup of a new subsidiary International Carbon Exchange to explore business
opportunities in the voluntary carbon market.
Punjab & Sind Bank: The bank is scheduled to meet on December 30 to consider a proposal for raising up to ₹250 crore through equity
and bond issuance.
Stocks in F&O ban on Wednesday
Punjab National Bank, Balrampur Chini Mills, and Indiabulls Housing Finance are in the F&O ban list of NSE on Wednesday.
