Market Snapshit

Weekly Trading Diary: 20th to 24th December 2021

Benchmark indices extended Friday’s losses, tanking by over -2% amid rising concerns of the Omicron variant. Dow and Nasdaq futures are down too, indicating a weak opening for US markets.

Brent Crude: 71.38 -2.91%
:heavy_dollar_sign: USD-INR Spot: 75.905 -0.24%
:scroll: India 10Y bond yield: 6.438% +0.42%

Day’s trend:

All sectoral indices were in red today, with the Realty index being the biggest loser.

Amongst the F&O stocks

:chart_with_upwards_trend: Cipla was the top gainer.

:chart_with_downwards_trend:While AU Small Finance Bank was the top dragger.

:newspaper: In the news

Competition Commission of India (CCI) suspended Amazon’s 2019 deal with Future Retail on Friday. As a result, the shares of Future Group’s listed companies rallied up to 20% today.

Retail sales in India grew by 9% in November compared to pre-pandemic levels in the same month in November 2019, indicating an improvement in businesses.

Hindustan Unilever has hiked the pricing of a few soaps and detergents by 7 to 10%.

Cipla gained 3% after the company received final approval from the US Food and Drug Administration (USFDA) for its Lanreotide injection.

Shares of Shriram Properties listed below 20% of the issue price.

IDBI Bank gets hit by ₹6,710 crore loan default by a diamond merchant, the biggest since Nirav Modi. Story here.

:earth_americas: Around the World

China’s central bank cut the benchmark lending rate on Monday for the first time since April 2020, during the height of the coronavirus pandemic in the country.

The World Trade Organization on Monday said that the global merchandise trend fell by 0.8% in the third quarter, adding that the emergence of the Omicron coronavirus variant had raised the risk of missing the forecast 2021 growth rate.

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