Indices at 9:30 am
Nifty50 13,733 ▼ 7 (-0.0%)
Sensex 46,826 ▼ 63 (-0.1%)
Nifty Bank 30,688 ▼ 158 (-0.5%)
In the news
Axis allays NPA fears
- As per reports, Axis Bank believes that the retail asset quality situation isn’t as grave as was feared initially—despite the overall job losses, salary cuts due to the pandemic.
- However, the retail non-performing assets could inch up in the second half of FY21 and will go back to the pre-Covid levels in FY22. Meanwhile, shares of Axis Bank (-1.2%) are consolidating so far in December after rising 22.1% in November.
US rally shrugs off higher jobless claims
- The number of Americans filing first-time claims for jobless benefits unexpectedly rose last week to 8.85 lakhs. This came on the heels of weak retail sales data, which fell for the second month in a row.
- US equity markets seemed to overlook these weaknesses and inched higher as all eyes are set on a nearly $900bn stimulus package.
Copper price near eight-year high
- The price of copper on the London Metal Exchange is nearing its eight-year high levels due to lower inventory, optimism over US stimulus and a general bullish trend across commodities.
- On the MCX, copper has surged nearly 81% since March 2020.
Antony Waste Handling IPO opens on Monday
- Antony Waste Handling, a solid-waste management company, has no listed industry peers in India. The company plans to raise ₹300 crore from its initial public offer. The issue opens on Monday and the price band is fixed at ₹313-315 per share.
- It has been a record-breaking year for IPOs, not just for the returns delivered but also for oversubscription. Mrs. Bectors IPO has been subscribed 198 times.
Sectoral indices
| Top gainers | Top losers |
| Nifty IT ▲ 1.8% | Nifty Realty ▼ 1.4% |
| Nifty Pharma ▲ 0.0% | Nifty Media ▼ 1.3% |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▼ -0.1% |
| Hang Seng (Hong Kong) | ▼ -0.6% |
| SSE Composite (China) | ▲ 0.1% |
| Dow Jones (US) | ▲ 0.4% |
Fact of the day
The word 'jugaad' was added to the Oxford English Dictionary in 2017. The noun jugaad means a flexible approach to solve a problem, that uses limited resources in an innovative way.
Source: Indian Express
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