Most markets in Asia–Pacific were trading lower on Monday as risk sentiment remained dampened due to tension in South Korea. Lawmakers in South Korea has filed a motion to impeach President Yoon Suk Yeol, which was scrapped due to lack of required votes. Another impeachment motion can now be called after Dec. 11. The Kospi and S&P ASX 200 were trading 1.37% and 0.27% down, respectively. On Friday, the Dow Jones Industrial Average ended 0.28% down and S&P 500 finished 0.25% higher. The Nasdaq Composite ended 0.81% higher.
The Brent crude was trading 0.07% higher at $71.70 a barrel as of 6:39 a.m. The GIFT Nifty was trading flat at 24,725.00 as of 06:49 a.m. The NSE Nifty 50 and BSE Sensex ended Friday’s session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices dragged.
The Nifty ended 30.62 points or 0.12% down at 24,677.80, and the Sensex ended 56.74 points or 0.07% down at 81,709.12. The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and maintained a neutral stance. The central bank reduced the gross-domestic-product forecast for the current financial year, while it increased the projection for inflation. The Nifty posted the best gains on a weekly basis since June 7. It has risen 2.27% in the week ended on Dec. 6. The Sensex gained 2.39% in the week ended on Dec. 6.
Overseas investors turned net sellers of Indian equities on Friday after three straight days of buying, while domestic institutional investors turned net buyers after three consecutive days of selling. Foreign portfolio investors sold stocks worth Rs 1,830.3 crore, the highest amount sold by the FPIs so far this month. The DIIs bought stocks worth Rs 1,659.1 crore, according to provisional NSE data.
Source Link: Stock Market Today: All You Need To Know Going Into Trade On Dec. 9