Stock Market Today: For Indian markets, which will start trading on Monday, there are still conflicting global indications. Prior to the start of local markets, the Singapore-based SGX Nifty, a leading indicator of NSE Nifty movement, was trading down at 18,577.5, down 83.5 points or 0.45%. Dow Futures were likewise down 169.50, or 0.49 percent, at 34,177.50.
Due to the China market lockout, Asian markets also declined
Following news of the China Covid 19 lockouts, which sparked significant protests against President Xi Jinping’s government’s decision to impose stricter regulations, Asian markets also fell. Nikkei 225 was trading at 28,091.90, down 191.13 points or 0.68 percent, while Shanghai Composite was trading at 3,057.61, down 44.08 or 1.42 percent. At 16,954.23, the Hang Seng was also down more than 3% or 600 points.
On Friday, which saw a short trading day due to Black Friday Sales, US markets likewise ended mixed. S&P 500 closed at 4,026.12, down 1.14 or 0.03 percent, while the Dow 30 ended at 34,347, up 152.97 points or 0.45 percent. The Nasdaq Composite also finished at 11,226.40 down 59 points, or 0.52 percent.
The price of crude oil has also decreased, reaching USD 83 after a correction of 5% the previous week.
At 106, the Dollar Index is practically unchanged
Foreign and domestic investor activity will be one of the primary market-moving domestic triggers today. In contrast to local institutional investors, who net sold shares worth Rs 295.92 crore on Friday, overseas institutional investors spent Rs 369.08 crore buying Indian stocks.
Rupee volatility against the US dollar is something investors need to be aware of. Against a basket of six major currencies, the Dollar Index remains essentially unchanged at 106.
Stock Market Today: Beginning on December 1, Hero Motocorp will increase the cost of its two-wheelers by Rs 1500
In Paytm, where the Reserve Bank of India (RBI) has prompted the company to reapply for its payment services licence in 120 days, expect stock-specific action. Expect stock-specific movement in the car industry as a result of the government’s proposed Vehicle Scrappage Policy announcement, which will force the scrapping of vehicles older than 15 years starting on 1 April 2023. Hero MotoCorp, a manufacturer of two-wheelers, will also raise the prices of its two-wheelers by Rs 1500 beginning on December 1, which could cause movement in this counter.
Primary markets will be active, and the Dharmaj Crop Guard IPO will open for subscription today. The issue’s price range is Rs 216-237, and it expires on November 30. The issue size is Rs 251.2 crore, and the lot size is 60 shares.
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