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Now buzzing on Dalal Street: What will drive market today

Here's your morning briefing on possible market movers

Hey there! Here’s your morning briefing on possible market drivers for the day.

Solid signal from Singapore
Nifty futures were trading higher by 24.50 points, or 0.24 per cent, at 10,326 at 6 am this morning (IST), signalling a possible positive start for the domestic equity market

Asian stocks on back foot
Asian stocks started the week on the back foot on Monday, pressured by Friday’s retreat on Wall Street amid tax reform uncertainty. Australian shares were down 0.2 per cent, while Japan’s Nikkei stock average traded 0.1 per cent lower, said a Reuters report.

Tax worries drag Wall Street
The Dow slipped 100 points, or 0.43 per cent, to close at 23,358 on Friday as the US House of Representatives voted in favour of its version of a tax overhaul bill that would cut corporate taxes on Thursday, but investors turned focus to the Senate’s battle over its rival bill. The S&P500 index fell 6.79 points and Nasdaq 10.50 points

Moody’s gives rupee a high
In its biggest single-day surge in six weeks, the rupee on Friday bounced back in style to end at a one-week high of 65.01 against the US dollar after Moody’s upgraded the country’s sovereign rating.

Rate worry spooks bond mart
Analysts say in euphoria in India’s bond market following the Moody’s sovereign rating upgrade may fizzle out quickly, amid a spike in inflation on rising crude oil and food prices, which reduces the chances of a possible rate cut by the Reserve Bank of India anytime soon.

Commodity concern for India Inc
The commodity rally that has lifted prices between 30 and 100 per cent in last two years, many companies, especially consumer firms, are facing pressure on bottom lines, forcing many to work on active price management and hedge raw material costs, reports ET.

…and lastly, a solid bet
Derivative traders are trying to ‘strangle’ Nifty or Bank Nifty options expiring on December 28 to cash in on two key events: Gujarat assembly election results and the US Fed interest rate decision, both of which are due post December 10, ET reported.

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