Morning update for 7 December 2020
Indices at 9:30 am
Nifty50 13,285 ▲ 27 (+0.21%)
Sensex 45,162 ▲ 82 (+0.18%)
Nifty Bank 29,991 ▼ 60 (-0.2%)
In the news
Dow rises despite weak jobs data
- The US economy added 2,45,000 jobs in November, far lesser than the street estimate of around 4,50,000 jobs.
- While the data is disappointing, the Dow rose and closed at its highest level ever last week. The weak data suggests that there is a need for more stimulus (more liquidity in the markets).
FPI-DII play tug of war
- In November, the Indian equity markets received nearly ₹60,350 crore of investments from foreign portfolio investors. On the other hand, the domestic institutional investors withdrew about ₹30,760 crore, marking it a sixth straight month of net outflows for DIIs, reports suggest.
- In 2020, on a net basis, FPIs invested nearly ₹1,25,000 crore and DIIs have been net sellers to tune of ₹28,000. The net result is that the Nifty 50 is up ~9% in CY20, successfully battling one of the worst economic impacts so far.
Crude oil gains for 5 consecutive weeks
- In the recent OPEC+ meeting, major oil producers agreed to continue to curb production to cope with lower demand globally.
- Crude oil prices rose ~30% over the last five weeks for two reasons. Supply was restrained on one hand and optimism toward economic recovery fueled sentiments that demand will rise.
Events in this week
- Wednesday: Crude oil inventories (US)
- Thursday: Inflation, Initial Jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
Top gainers Top losers Nifty Media
▲0.80% Nifty Pharma
▼ 0.23% Nifty FMCG
▲ 0.77% Nifty Fin Service
▼ 0.15%
Global markets
Nikkei 225 (Japan) ▼ 0.63% Hang Seng (Hong Kong) ▼ 1.70% SSE Composite (China) ▼ 0.66% Dow Jones (US) ▲ 0.83%
Fact of the day
A person's height is determined by their father's genes, and weight is determined by their mother's.
Source: BBC
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Indices at 9:30 am
Nifty50 13,285 ▲ 27 (+0.21%)
Sensex 45,162 ▲ 82 (+0.18%)
Nifty Bank 29,991 ▼ 60 (-0.2%)
In the news
Dow rises despite weak jobs data
- The US economy added 2,45,000 jobs in November, far lesser than the street estimate of around 4,50,000 jobs.
- While the data is disappointing, the Dow rose and closed at its highest level ever last week. The weak data suggests that there is a need for more stimulus (more liquidity in the markets).
FPI-DII play tug of war
- In November, the Indian equity markets received nearly ₹60,350 crore of investments from foreign portfolio investors. On the other hand, the domestic institutional investors withdrew about ₹30,760 crore, marking it a sixth straight month of net outflows for DIIs, reports suggest.
- In 2020, on a net basis, FPIs invested nearly ₹1,25,000 crore and DIIs have been net sellers to tune of ₹28,000. The net result is that the Nifty 50 is up ~9% in CY20, successfully battling one of the worst economic impacts so far.
Crude oil gains for 5 consecutive weeks
- In the recent OPEC+ meeting, major oil producers agreed to continue to curb production to cope with lower demand globally.
- Crude oil prices rose ~30% over the last five weeks for two reasons. Supply was restrained on one hand and optimism toward economic recovery fueled sentiments that demand will rise.
Events in this week
- Wednesday: Crude oil inventories (US)
- Thursday: Inflation, Initial Jobless claims (US)
- Friday: Inflation, IIP (India)
Sectoral indices
| Top gainers | Top losers |
| Nifty Media ▲0.80% | Nifty Pharma ▼ 0.23% |
| Nifty FMCG ▲ 0.77% | Nifty Fin Service ▼ 0.15% |
Global markets
| Nikkei 225 (Japan) | ▼ 0.63% |
| Hang Seng (Hong Kong) | ▼ 1.70% |
| SSE Composite (China) | ▼ 0.66% |
| Dow Jones (US) | ▲ 0.83% |
Fact of the day
A person's height is determined by their father's genes, and weight is determined by their mother's.
Source: BBC
Tell us what you think about this morning update.
Applying for IPOs is easy on Upstox. If you haven't already, open your Upstox account to get IPO-ready today. Click here to sign up.
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