The Indian equity
benchmark indices are likely to start the week on a higher note amid mixed
global cues. The SGX Nifty was trading 0.60% higher at around 17,145 levels,
indicating a positive start for the Indian market. On Friday, Indian markets
suffered heavy losses tracking a sharp sell-off in global markets as the spread
of a new variant of COVID. 19 spooked investors. Expectations of the US
increasing the pace of tapering and huge Full outflows have led to recent
market weakness. Nifty has corrected over 8.5% from its peak, witnessing its
biggest correction in over a year.
Here are key events
that will be in the news today:
Winter Session of Parliament begins:
The Winter Session of
Parliament is set to commence today with the government having a heavy agenda
for the session as its legislative business includes 26 new bills. The session
is scheduled to conclude on December 23.
The government will
take on priority the bill to repeal three farm laws. The bill was cleared by
the union cabinet earlier this week. The government's agenda also includes the
Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.
Among other bills,
some important ones are Electricity Amendment Bill, 2021 to delicense
distribution business; Banking Amendment Bill to privatize two PSU Bank;
Pension Amendment Bill to ensure universal pension; Insolvency & Bankruptcy
Amendment Bill to streamline IBC and Energy Conservation Amendment Bill to meet
Paris convention commitment.
Lookout
-Coal India to mull interim dividend
-Sovereign Gold Bond
Scheme opens
-All the Schools in
Delhi will reopen from today for all classes -Singapore to have a 'vaccinated
travel lane' with India from today
-Mallikarjun Charge
calls Opposition parties meeting to create consensus over issues
-Amid concerns over
'Omicron' variant of COVID, DDMA to meet today
-Roadways staff to
protest today
-Resident doctors'
strike continues, calls for pan
-India meet -IT Ministry to celebrate Azadi Ka Digital Mahotsav event Markets & Economy
Global markets:
Tumbles 900 points for worst day of year Falls
on fears of new Covid variant, S&P 500 drops 2% Dow Jones down 2.52%,
S&P 500 down 2.27% US 10 Year Yield down II bps at 1.48% South Africa
variant triggered a global shift away from risk assets Europe European indices
closed lower on Friday amid covid fears DAX was down 4.15%; FTSE100 closed
3.64% lower CAC40 fell by 4.75%; Stoxx 600 closed 3.67% lower Asia Asian stocks
start the week in the red Nikkei down almost 1% early trade today SGX Nifty
Futures is trading flat with a negative bias Commodities Gold jumps to around
$1,792 on virus fears Crude oil prices rebound from steep fall Oil starts the
week at USD 71.26 a barrel WTI at $71.4; Brent Oil gains 4.23% to $74.62
Currency, bonds, cryptos Dollar index which had fallen below the 96 mark has
recovered and is at 96.2 Treasuries sank amid covid concerns, the 10-year yield
was below 1.5% The 10-year yield has made a swift recovery at 1.531% to start
the week Bitcoin stages recovery after a fall, closing in on the $58,000 mark