Investors will keep tabs on stock-specific development, foreign fund flow, oil and rupee movement and other global cues.
Nifty futures were trading 16 points lower at 13,135 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty50 on Wednesday. The Reserve Bank of India’s monetary policy committee (MPC) will begin its two-day meeting today and the resolution will be announced on December 4. The Rs 810-crore Burger King India initial public offer (IPO) will open for subscription today. Investors will keep tabs on stock-specific development, foreign fund flow, oil and rupee movement and other global cues. According to analysts, based on the daily charts, Nifty 50 index is heading for 13200/13300 levels in the near term.
Stocks in focus today:
Bank and financial stocks: RBI’s two-day monetary policy committee meeting will begin today and will announce its decision on Friday. Analysts expect RBI to hold interest rates and maintain stance accommodative. Banks and financial stocks will remain in focus today.
Tata Motors, Hero MotoCorp: Auto stocks will trade actively today as sales numbers for November have started pouring in. Stocks such as Tata Motors, Hero MotoCorp, Eicher Motors will remain on investors’ radar today.
YES Bank: Yes Bank is in talks with the newly-founded So Hum Bharat Digital Payments for a 9.99% equity stake in a proposed new umbrella entity (NUE) for retail payments.
Vodafone idea: According to PTI report, telecom operator Vodafone Idea has raised the price of select postpaid plans by Rs 50 in the UP East circle. According to details available on the company’s website, Vodafone Idea customers will have to pay Rs 649 per month for the postpaid plan, which was priced at Rs 598 earlier, and Rs 799 as against Rs 749 charged earlier.
Dr. Reddy’s Laboratories: Dr. Reddy’s Laboratories and Russian Direct Investment Fund (RDIF) announced that they have commenced adaptive phase 2/3 clinical trials for Sputnik V vaccine in India after receiving the necessary clearance from the Central Drugs Laboratory, Kasauli, India.