Trade News

2021-12-15 17:51:09 Open / Comment

2021-12-15 17:44:19 USA MARKET UPDATE
Dow Jones 35,553.92 +9.74 +0.03%
S&P 500 4,637.48 +3.39 +0.07%
Nasdaq 15,228.8 -8.8 -0.06% Open / Comment

2021-12-15 17:43:38 Open / Comment

2021-12-15 17:43:34 Open / Comment

2021-12-15 17:42:50 US MARKET UPDATE

Stocks hold steady as investors await Fed decision

U.S. stocks were little changed in early morning trading on Wednesday as investors readied for Wednesday’s highly anticipated Federal Reserve decision.

The Dow Jones Industrial Average was flat, while the S&P 500 rose less than 0.1%. The tech-heavy Nasdaq Composite was down 0.2%.


Retail sales for November came in worse than expected, rising 0.3% month-over-month. Economists surveyed by Dow Jones were looking for a 0.8% month.

On the political front, congressional Democrats passed a bill raising the debt ceiling, sending it to President Joe Biden early Wednesday just under the wire for when Treasury Secretary Janet Yellen said the government would run out of spending power.

On Tuesday, the major averages slipped, exacerbated by selling in software names like Microsoft and Adobe. The Dow Jones Industrial Average lost 106 points. The S&P 500 fell 0.75%.

The technology-focused Nasdaq Composite was the relative underperformer, dipping 1.1% as Facebook-parent Meta Platforms, Amazon, Apple, Netflix and Google-parent Alphabet all closed lower.

Also hurting sentiment Tuesday was the hotter-than-expected inflation reading for November’s producer price index showing a year-over-year increase of 9.6%, the fastest pace on record. This was above the 9.2% expected by economists, according to Dow Jones. The index rose 0.8% month over month, above the 0.5% expected. Open / Comment

2021-12-15 17:42:10 TradeNews Reporting
IPO :

Medplus - Day 3

Medplus IPO received 22.01 times the bid on offer at the end of day 3. It received bids for 27.68 crore shares against an offer of 1.26 crore shares. Retail Individual Investors subscribed to the issue 2.57 times the reserved portion.

Data Patterns - Day 2

Data Patterns IPO received 7.68 times the bid on offer at the end of day 2. It received bids for 5.45 crore shares against an offer of 70.97 lakh shares. Retail Individual Investors subscribed to the issue 12.42 times the reserved portion.

HP Adhesives - Day 1

HP Adhesives IPO received 3.48 times the bid at the end of day 1. It received bids for 87.96 lakh shares against an offer of 25.29 lakh shares. Retail Individual Investors subscribed to the issue 18.57 times the reserved portion. Open / Comment

2021-12-15 17:39:56 Check out Chemslife Groups (@ChemslifeGroups): https://twitter.com/ChemslifeGroups?t=iQtlTmTAh5IgYV3EyRwT4g&s=09 Open / Comment

2021-12-15 17:39:15 Check out Chemslife Groups (@ChemslifeGroups): https://twitter.com/ChemslifeGroups?t=iQtlTmTAh5IgYV3EyRwT4g&s=09 Open / Comment

2021-12-15 17:34:04 #TRADENEWS Reporting

#IndiGo, #KotakMahindra: IndiGo airlines has launched a co-branded credit card in partnership with Kotak Mahindra Bank.

#BurgerKing: Burger King India is planning to raise up to Rs 1,500 crore through further issuance of securities.

#BPCL: has been ranked India’s top oil and gas company for its sustainability performance in the 2021 edition of the S&P Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment (CSA).

#L&T: L&T Construction has secured a 'large' order from the UP government to implement rural water supply projects.

#TataMotors: has tied up with Bandhan Bank for retail finance for its range of passenger vehicles Open / Comment

2021-12-15 17:31:44 USD/INR

• USDINR Dec futures closed 45 paise higher at 76.40, a 20-month high.

• Sell-off in equity markets and carry trade unwinding caused USDINR to inch towards 76.50 levels.

• All eyes on tonight’s US FOMC. Traders are betting on an ultra-hawkish US Fed.

• Volatility will be high post FOMC, tomorrow. If Fed can remain very hawkish by signaling 2/3 hikes and faster taper, then it can push USDINR towards all time highs near 76.90 levels on spot.

• Technically, bias remains upward. Support is near 76.00 levels and resistance is near 76.90/77.00 levels.


EUR/INR

• EURINR Dec futures closed 12 paise higher at 86.05.

• A strong USDINR offset the weakness in EURUSD. EURUSD remained under pressure ahead of the US Fed rate decision. US retail sales were weaker than expectation but that should not be much impactful as the entire focus remains trained on US FOMC.

• Tomorrow we can see a big gap at the open. Depending on the outcome from FOMC, we will decide on the upcoming trades.



GBP/INR

• GBPINR Dec futures closed 72 paise higher at 100.20.

• After a strong labour market report yesterday, today’s CPI inflation report was much more than expected. Strong jobs market and high inflation could become the trigger for BOE to sound hawkish. This expectation pushed GBPINR higher.

• Tomorrow GBPINR can gap at the open and volatility can remain high.



JPY/INR

• JPYINR Dec futures closed 26 paise higher at 67.10.

• JPYINR was pulled higher by rising USDINR, offsetting the negative impact from a firm USDJPY.

• Tomorrow, JPYINR can see large swings. Open / Comment