Morning Update for 10 December 2020
Indices at 9:45 am
Nifty50 13,423 ▼ 105 (-0.7%)
Sensex 45,784 ▼ 319 (-0.6%)
Nifty Bank 30,448 ▼ 260 (-0.8%)
In the news
Maruti to hike prices
- Come January 2021, Maruti will increase prices of its vehicles, primarily to offset the adverse impact of rising input costs. The company has not announced the quantum of the hike.
- As per media reports, steel and other metals prices have shot up ~30% since August. It would not be surprising to see other auto companies following suit.
Mumbai home sales jump
- In November, registration of homes in Mumbai surged by 67% YoY to 9,301 units.
- The cumulative effect of the stamp duty cut, festive period, low home loan rates and incentives doled out by developers are helping boost the demand.
UK bowls vaccine googly
- The UK government warned people with significant allergies to avoid Pfizer’s vaccine. This announcement comes after two people reported reactions to the shots.
- The news triggered selling in the shares of Pfizer Inc. (-1.6%). The intensity of impact was higher in Moderna (-7.8%), which is also expected to release its vaccine soon.
US tech stocks crack
- Nasdaq, US’ tech-heavy index, fell 1.9% as Facebook (-1.9%), Apple (-2.0%), Amazon (-2.3%), and Microsoft (-1.9%) witnessed profit-booking yesterday.
- Amid this, food delivery company DoorDash got listed 78% above its issue price. Meanwhile, shares of Info Edge reacted positively and rose 3% today. Info Edge holds ~21% stake in home-grown food delivery platform Zomato.
Events in this week
- Thursday: Inflation, Initial jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
Top gainers Top losers NA Nifty PSU Bank
▼ 2.7% NA Nifty Media
▼ 2.5%
Global markets
Nikkei 225 (Japan) ▼ 0.3% Hang Seng (Hong Kong) ▼ 0.4% SSE Composite (China) ▲ 0.2% Dow Jones (US) ▼ 0.3%
Fact of the day
What is the first thing people subconsciously notice about us? Shoes.
Source: Psychologytoday.com
Indices at 9:45 am
Nifty50 13,423 ▼ 105 (-0.7%)
Sensex 45,784 ▼ 319 (-0.6%)
Nifty Bank 30,448 ▼ 260 (-0.8%)
In the news
Maruti to hike prices
- Come January 2021, Maruti will increase prices of its vehicles, primarily to offset the adverse impact of rising input costs. The company has not announced the quantum of the hike.
- As per media reports, steel and other metals prices have shot up ~30% since August. It would not be surprising to see other auto companies following suit.
Mumbai home sales jump
- In November, registration of homes in Mumbai surged by 67% YoY to 9,301 units.
- The cumulative effect of the stamp duty cut, festive period, low home loan rates and incentives doled out by developers are helping boost the demand.
UK bowls vaccine googly
- The UK government warned people with significant allergies to avoid Pfizer’s vaccine. This announcement comes after two people reported reactions to the shots.
- The news triggered selling in the shares of Pfizer Inc. (-1.6%). The intensity of impact was higher in Moderna (-7.8%), which is also expected to release its vaccine soon.
US tech stocks crack
- Nasdaq, US’ tech-heavy index, fell 1.9% as Facebook (-1.9%), Apple (-2.0%), Amazon (-2.3%), and Microsoft (-1.9%) witnessed profit-booking yesterday.
- Amid this, food delivery company DoorDash got listed 78% above its issue price. Meanwhile, shares of Info Edge reacted positively and rose 3% today. Info Edge holds ~21% stake in home-grown food delivery platform Zomato.
Events in this week
- Thursday: Inflation, Initial jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
| Top gainers | Top losers |
| NA | Nifty PSU Bank ▼ 2.7% |
| NA | Nifty Media ▼ 2.5% |
Global markets
| Nikkei 225 (Japan) | ▼ 0.3% |
| Hang Seng (Hong Kong) | ▼ 0.4% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) | ▼ 0.3% |
Fact of the day
What is the first thing people subconsciously notice about us? Shoes.
Source: Psychologytoday.com
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