Indices at previous closing
Nifty50: 16,985 ▼-263 (-1.5%)
Sensex: 57,011 ▼-889 (-1.5%)
Nifty Bank: 35,618 ▼-930 (-2.5%)
For more updates on F&O, click here.
Govt’s power capex push
According to the power ministry, state-owned power companies increased their capital expenditure (capex) by 45% this fiscal year. These companies have invested around ₹32,137 crore so far, which is more than 60% of the government’s capex target.
Besides the above-mentioned amount, ₹3,491 crore was invested in power infrastructure via development schemes of the ministry. Meanwhile, the Nifty Energy index was down 2% on Friday.
Multiple debuts on D-street this week
Shares of Shriram Properties, MapmyIndia, Metro Brands, MedPlus Health and Data Patterns will make their debuts on the exchanges this week.
Meanwhile, the IPO of Supriya Lifescience, which has been oversubscribed 5.6 times, will close for subscription today. IPO action will continue on D-Street. India’s largest cash management company CMS Info System will launch its IPO tomorrow. To apply and pre-apply for the IPOs on Upstox, click here.
Oil prices to hit a new high
According to the American investment bank Goldman Sachs, the prices of oil may hit the $100 per barrel mark. Experts believe that higher jet fuel demand and growth in the global economy should spur demand for oil in the next two years. They point out that the international travel restrictions are easing.
Besides this, oil supply may struggle to meet the demand going forward as the global economies reopen. Also, the costs for oil companies may rise as they ramp production. All these factors may end up fueling the prices of oil, according to experts.
Sectoral indices (December 17)
| Top gainers | Top losers |
| Nifty IT ▲ 1.3% | Nifty Media ▼ 4.7% |
| NA | Nifty Realty ▼ 3.9% |
Global markets (at 8:00 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.6% |
| Nikkei 225 (Japan) | ▼ 1.7% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (December 17) | ▼ 1.4% |
| NYSE (US) (December 17) | ▼ 1.0% |
| Nasdaq (US) (December 17) | ▼ 0.0% |
| S&P 500 (US) (December 17) | ▼ 1.0% |
Fact of the day
The word “Volkswagen” means people’s car in the German language.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.