Sensex, Nifty may halt gaining streak; 5 things to know before today’s opening bell

Nifty futures were trading 49 points lower at 13,733 on Singaporean Exchange, indicating a negative opening for BSE Sensex and Nifty 50 on Monday. In the previous session, headline indices rose from the day’s lows and ended marginally higher. According to an analyst, given the upcoming Budget preparations and thrust on reforms, the importance of good healthcare infrastructure has become a priority. “Import duties to curb dumping coupled with the PLI scheme should in our view help corporate India and the coming week ahead of Christmas promises to be an interesting week ahead,” said S Ranganathan, Head of Research at LKP Securities.

Global watch: Asian stock markets were trading lower in the early trade on Monday. Japan’s Nikkei 225 fell 0.59 per cent while the Topix index was down 0.66 per cent. South Korea’s Kospi was down 0.4 per cent. On Friday, US stocks ended lower due to uncertainty around a coronavirus stimulus deal. The Dow Jones Industrial Average fell 124.32 points, the S&P 500 lost 13.07 points, and the Nasdaq Composite dropped 9.11 points.

EU nations halt UK flights: According to a news report by Associated Press, several European Union (EU) nations banned flights from the UK on Sunday and others were considering similar action in a bid to block a new strain of coronavirus sweeping across southern England from establishing a strong foothold on the continent.

FII and DII data: Last week on Friday, foreign portfolio investors (FPI) lapped up shares worth Rs 2,720.95 crore while domestic institutional investors (DIIs) sold shares worth Rs 2,424.61 crore on a net basis in the capital market, according to the data available on NSE.

Nifty support and resistance: “Nifty continued with range movement and showed upside recovery from the intraday dip. The consolidation movement could continue for the early part of next week, before showing further upside momentum in the mid part. The next crucial long term resistance to be watched around 13900-14000 levels for the next 1-2 weeks. Immediate support is placed at 13660,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Bulk deals: Adani Logistics sold 15.14 lakh shares of Snowman Logistics at Rs 56.54 per share. While Vanguard Emerging Markets Funds bought 51.19 lakh shares of Mindspace Business Parks REIT at Rs 321.88.