Domestic stocks are expected to open on a positive note Thursday before the December series M&O contracts expire. Most Asian markets were listless amid limited trading ahead of the New Year, even though US stocks managed to close at a new high overnight. Here is the detail of the actions prior to marketing:

STATE OF THE MARKETS


SGX Nifty signs a positive start
Shrewd futures on the Singapore Stock Exchange traded 36.5 points, or 0.21%, up to 17,306, signaling that Dalal Street was heading for a positive start on Thursday.

  • Technical view: On Wednesday, the Nifty50 ended a two-day winning streak and formed a Doji candle on the daily chart, suggesting indecision among traders. Analysts see support for the index at 17,100 as they see resistance at the 17,300 level.
  • India VIX: The fear gauge fell more than one percent to 16.24 Wednesday from its close at 16.48 Tuesday.

Asian stocks are generally higher
Asian stocks opened mostly higher with cautious trading after a mixed close on Wall Street and ahead of the year-end vacation. The MSCI Asia-Pacific Ex-Japan Equity Index rose 0.29 percent.

  • The Japanese Nikkei lost 0.08%
  • South Korea’s Kospi added 0.07%
  • Australia’s ASX 200 lost 0.11%
  • China’s Shanghai jumped 0.48%
  • Hong Kong’s Hang Seng gained 0.45%

Dow and S&P close at record highs
The Dow Jones and S&P 500 closed at historic highs on Wednesday thanks to a boost from retailers such as Walgreens and Nike, as investors shrugged off concerns about the Omicron variant spreading.

  • The Dow Jones added 0.25% to 36,488.63
  • The S&P 500 gained 0.14% to 4,793.06
  • The Nasdaq fell 0.10% to 15,766.22

Dollar, weak yen in thin trade
The dollar and yen were at the bottom of their recent ranges in thin holiday trading on Thursday, after falling overnight as investors favored riskier currencies as well as stocks.

  • The Dollar Index languished at 95.862
  • The euro stood at $ 1.1352
  • The pound has been raised to $ 1.3500
  • The yen was stable at 114.95 per dollar
  • The yuan traded its hands at 6.3703 against the greenback

REITs sell shares worth Rs 975 crore
Net-net, foreign portfolio investors (REITs) turned sellers of domestic stocks to the tune of Rs 975.23 crore, according to data available from NSE. DIIs became net sellers to the tune of Rs 1,006.93 crore, the data suggests.

MONETARY MARKETS

Rupee: The rupee ended its nine-day winning streak to drop just one paisa to 74.71 against the US dollar on Wednesday, as muted domestic stocks and a strong greenback abroad weighed on on market sentiment.

10-year bonds: India’s 10-year bond fell 0.26% to 6.46 after trading in a 6.46-6.48 range on Wednesday.

Call rates: The weighted average overnight call rate stood at 3.25% on Wednesday, according to RBI data. It has moved in a range of 2.00 to 3.75 percent.