Stock Market Today: On the daily chart, Nifty on Friday formed a red candle with modest upper and lower shadows after ending 121 points down and below the 20-DMA. The NSE IX’s GIFT Nifty rose 45 points, or 0.23 percent, to close at 19,282.50, indicating that Dalal Street would begin the week on a good note.
Rupee falls; Tokyo stocks opened lower
Due to FX outflows, a strong US dollar, and bearish equities markets, the rupee lost 8 paise on Friday to end a three-day surge and trade at 82.64 against the US dollar.
Following gains on Wall Street, Tokyo markets may open higher on Monday as US Fed chief Jerome Powell outlined a cautious course for monetary policy.The broad Topix index increased 0.95 percent, or 21.61 points, to 2,288.01, while the benchmark Nikkei 225 index rose 1.05 percent, or 331.71 points, to 31,955.99 in early trade.
Stock Market Today: What to expect from Reliance’s 46th AGM?
Investors are anticipating a number of significant announcements, and the 46th annual general meeting (AGM) of index heavyweight Reliance Industries is anticipated to set the tone for the markets in the upcoming week. The oil-to-chemicals (O2C) segment continues to provide up the largest portion of the conglomerate’s income, but RIL’s AGM has shifted in recent years to focus more on its newest businesses that are expanding quickly. After the introduction of 5G connection worldwide in India, company had already said that it would enter the green energy market in 2021 and has added Google as a modest investor.
Stocks in focus
HDFC Bank
Sanmoy Chakrabarti has been reappointed as the bank’s Chief Risk Officer (CRO) for a further five years with the approval of the bank’s board of directors. Between December 14, 2023, and December 13, 2028, the reappointment will be in force.
Indostar Capital Finance
A sizeable percentage of the non-banking financing company’s corporate loan book is sold to Phoenix ARC. The sale consisted of a number of accounts that were classified as Stage 2 due to outstanding debts totaling Rs 915 crore. Phoenix ARC will establish a trust to keep tabs on the development of the real estate projects and will also consider contributing a specific amount to the financing of these projects’ completion.
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