Top 10 things to know about the stock market today before it opens

 Top 10 things to know about the stock market today before it opens

Top 10 things to know about the stock market today before it opens

The GIFT Nifty rises by 20 points, signaling a flat opening for the wider markets. The futures for the GIFT Nifty were at 21,019.50 points.

On December 6, the benchmark Sensex and Nifty indexes are probably going to begin level because of patterns that lead to a muted opening for the overall market, with Gift Nifty rising by 10 points.

On December 5, the market posted its sixth straight session of gains, and Nifty ended comfortably over 20,800, capping the second day of the record rise.

The Nifty was at 20,855.10 at the closing, up 168.30 points or 0.81 percent, while the Sensex was at 69,296.14, up 431.02 points or 0.63 percent.

The Nifty may encounter immediate resistance around 20,869, followed by 20,905 and 20,963, according to the pivot point calculator. Conversely, Nifty may find support at 20,752, followed by 20,716 and 20,657 levels, if it continues to decline.

Keep up with Moneycontrol to find out what's going on in the equities and currency markets right now. Important headlines from various news sources that might affect the Indian and global markets are included below.

present nifty

The GIFT Nifty rises by 20 points, signaling a flat opening for the wider markets. The futures for the GIFT Nifty were at 21,019.50 points.

Wednesday's trading setup: the top 15 items you should know before the opening bell

US marketplace

Tuesday's trading on Wall Street was uneven after the release of new job statistics, which heightened expectations that the US Federal Reserve may lower interest rates as early as March.

At 4,567.18 points, the S&P 500 finished the day down 0.06 percent.

The Dow Jones Industrial Average dropped 0.22 percent to 36,124.56, while the Nasdaq increased 0.31 percent to 14,229.91.

Asian marketplace

In early trade on Wednesday, Asian indexes were up 1.5%, led by gains on the Nikkei in Japan and the Kospi in South Korea.

SBI will purchase a 20% share in SBI Capitals' SBI Pension Fund.

The announcement was made by State Bank of India that it will buy a twenty percent share in SBI Pension Fund. SBI intends to purchase a 20% ownership in SBI Pension Fund from SBI Capital Markets.

SBI now has a 60% share in the SBI Pension Fund. The corporation will own an 80% share in SBI Pension Fund after this transaction. The purchase price for SBI is Rs 229.52 crore. The last 20% of SBI Pension Funds is owned by SBI Funds Management.

The AUM and PAT of SBI Pension Fund as of October 30, 2023, are Rs 3.83 lakh crore and Rs 35.03 crore, respectively.

The planned purchase has received approval from the Pension Fund Regulatory and Development Authority (PFRDA) and Central Bank RBI, according to a regulatory announcement from SBI. Furthermore, according to him, the planned deal is being carried out "on an arm's length basis based on the valuation report of Deloitte Touche Tohmatsu India."

As the labor market cools, US employment creation reaches its lowest point since March 2021.

October saw 8.7 million job opportunities from US firms, the fewest since March 2021. This indicates that while hiring is slowing down as a result of rising interest rates, it is still happening at a solid rate.

9.4 million job opportunities were listed by the Labor Department on Tuesday, a substantial decrease from the 9.4 million positions listed in September.

In October, there was a little rise in layoffs. Additionally, there has been a tiny decrease in the number of Americans quitting their employment, which often indicates confidence in their ability to find better income or working conditions elsewhere.

Employment possibilities are still at historically high levels even with October's drop. They had never surpassed 8 million before 2021, and they have now done it for 32 months running.

oil costs

Doubts about OPEC+'s declaration of voluntary production cuts last week put the market on the back burner as oil prices plummeted to a near five-month low on Tuesday due to a stronger US currency and worries about demand. This was the fourth consecutive day of declines in the market.

U.S. West Texas Intermediate (WTI) crude dropped 72 cents, or 1.0 percent, to $72.32, while Brent crude oil futures sank 83 cents, or 1.1 percent, to $77.20 a barrel.

dollar index

Tuesday saw the US dollar reach a one-week high against a basket of currencies after the release of new employment data that revealed October job vacancies in the US dropped to its lowest level since October 2021.

As a gauge of labor demand, job openings decreased by 617,000 to 8.733 million on the last day of October, below predictions, according to the Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS, report released on Tuesday.

At 103.73, the dollar index was up 0.12 percent, the highest level in over a week. The dollar's increase, according to analysts, was caused by a reversal of recent strong selling that caused the dollar index to fall 3% in November alone—the worst monthly decrease in a year.

gold costs

After reaching an all-time high the day before, gold fell on Tuesday as investors shied away from placing large bets ahead of crucial US employment data that might provide additional light on the direction of interest rates in the US.

At 9:45 a.m. ET (1445 GMT), spot gold was down 0.4 percent, trading at $2,018.29 an ounce. On Monday, gold reached a record high of $2,135.40, but it ended the day down 2%, losing more than $100 in a single day.

US gold futures dropped to $2,036.80, down 0.3 percent.

Data from FII and DII

Provisional data from the National Stock Exchange (NSE) shows that on December 5, domestic institutional investors (DIIs) sold shares worth Rs 1,399.18 crore, while foreign institutional investors (FIIs) purchased shares worth Rs 5,223.51 crore.

NSE stocks prohibited from F&O

In its F&O ban list for December 6, NSE has kept Delta Corp, Indiabulls Housing Finance, India Cements, as well as Zee Entertainment Enterprises.

Restrictions on securities under the F&O sector apply to corporations whose derivative contracts over 95% of the maximum position limit in the market.