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Updated on: Friday, December 24, 2021, 09:25 AM IST

Stock market indices open in green amid positive global cues; Sensex above 57,300, Nifty crosses 17,000-mark

Among early gainers on the Nifty at the opening bell were HCL Technologies, SBI Life Insurance, TCS, Wipro and IOC. Power Grid Corporation, IndusInd Bank, Sun Pharma, Tata Consumer Products and ICICI Bank were major losers./Representational Pic |

Among early gainers on the Nifty at the opening bell were HCL Technologies, SBI Life Insurance, TCS, Wipro and IOC. Power Grid Corporation, IndusInd Bank, Sun Pharma, Tata Consumer Products and ICICI Bank were major losers./Representational Pic |

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The stock markets opened in green on Christmas Eve --December 24 amid positive global cues. The Sensex was up 69.96 points or 0.12 percent at 57385.24. The Nifty was up 13.20 points or 0.08 percent at 17085.80. About 1,396 shares have advanced, 517 shares declined, and 80 shares are unchanged.

Among early gainers on the Nifty at the opening bell were HCL Technologies, SBI Life Insurance, TCS, Wipro and IOC. Power Grid Corporation, IndusInd Bank, Sun Pharma, Tata Consumer Products and ICICI Bank were major losers.

Nifty closed higher for the third consecutive session on December 23 after opening gap up. It remained in a 90 point range throughout the day. At close Nifty was up 0.69 percent or 117 points at 17,072.6.

Nifty rose with an upgap but formed a doji after a rise suggesting indecision on the part of the traders at higher levels. Advance decline ratio continued to remain positive. Till 17,119 is crossed, there would remain a possibility of a correction of the recent rise. 16936-16971 on the downside remains a support band.

Asian stocks steady

Asian stocks were steady Friday after US shares reached an all-time high amid optimism that the economic recovery will shrug off the outbreak of the omicron virus strain. Stocks rose after a U.K. study suggested that the infections are less likely to lead to hospitalisation.

US stocks close record high

The S&P 500 index scored its 68th record close of the year Thursday, ahead of the long Christmas holiday weekend, on optimism that the omicron variant of COVID won’t derail global economies.

The Dow Jones Industrial Average rose 0.8 percent to 36,039.74 and the S&P 500 gained 0.79 percent to 4,733.86. The Nasdaq Composite added 0.96 percent, to 15,671.44. MSCI's gauge of stocks across the globe gained 0.86 percent.

Investors also were absorbing a relatively benign batch of US data, including inflation, durable goods orders and jobless benefit claims published Thursday. Trading volumes were expected to be thinner than usual ahead of the Christmas and New Year holidays. The US stock market will be closed on Friday in observance of the Christmas holiday.

Wall Street improved following reassurances this week from the White House that no 2020-style lockdowns were on the table as part of its plan to fight the coronavirus’ omicron variant.

First-time jobless claims were unchanged at 205,000 in the week ended December18, while consumer spending and personal spending nudged higher, the 12-month PCE inflation indicator rose 5.7 percent in November. Durable goods orders rose 2.5 percent for the month. The University of Michigan’s gauge of consumer sentiment rose slightly to a final December reading of 70.6 from the initial figure of 70.4. U.S. new home sales jumped 12.4 percent to a seasonally-adjusted annual rate of 744,000 in November from a revised 662,000 in the prior month.

Oil prices extend gains

Oil prices extended gains on Thursday as the signs the worst effects of the Omicron variant might be containable prevailed over the threat of new travel curbs, Reuters said.

US crude recently rose 1.24 percent to $73.66 per barrel and Brent was at $76.71, up 1.89 percent on the day. Spot gold added 0.3 percent to $1,807.91.

Fuel prices unchanged

Oil marketing companies on Friday kept the prices of diesel and petrol unchanged today--past 51 days in a row now.

Earlier, the Delhi government had reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. As a result, petrol prices in the national capital were slashed by Rs 8.56 per litre.

Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively. In Mumbai, petrol is retailed at Rs 109.98 per litre, while diesel is being sold at Rs 94.14 per litre. Among the metro cities, fuel rates are still the highest in Mumbai.

Diesel and petrol prices also remained static in Kolkata at Rs 89.79 and Rs 104.67. In Chennai too, they remained unchanged at Rs 91.43 and Rs 101.40.

Card tokenisation extended

The Reserve Bank of India (RBI) on Thursday extended the deadline for the card-on-file (CoF) tokenisation deadline by six months to June 30, 2022, in view of various representations received from industry bodies.

Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions. Tokenisation means replacement of credit and debit cards details with an alternate code called a "token".

The earlier deadline was December 31, 2021.

''In light of various representations received in this regard, we advise...the timeline for storing of CoF data is extended by six months, ie., till June 30, 2022 and post this, such data shall be purged,'' RBI said in a notification addressed to all payment system providers and payment system participants.

Tokenised cards are considered safe for online transactions, as the card details are not shared with the merchant during transaction processing.

Data Patterns to list today

Defence and aerospace electronics solutions provider Data Patterns (India) Limited IPO received bids for 84,89,85,725 shares against 70,97,285 shares on offer on the last day of subscription, according to the NSE data. It will make its stock market debut today.

Four stocks under F&O ban

Four stocks – Escorts, Indiabulls Housing Finance, Vodafone Idea, and Zee Entertainment Enterprises – are under the F&O ban for December 24.

(With inputs from agencies)

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Published on: Friday, December 24, 2021, 09:25 AM IST
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