The Indian markets ended Friday’s session on a negative note amid Omicron Scare. The BSE Sensex slumped over 765 points, while Nifty50 gave up key level of 17200-mark at the market close.    

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Mohit Nigam, Head - PMS, Hem Securities said, “Benchmark indices erased day’s gains after opening in the green and slipped lower as investors assessed the impact of the Omicron, covid variant, that has spread to 25 countries with Sensex and Nifty falling above 750 and 200 points, respectively.”   

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The broader indices outperformed their larger peers with the S&P BSE MidCap little changed on Friday while S&P BSE SmallCap added 0.33.    

“The recent clarification by the Reserve Bank of India on non-performing advances (NPA) may increase non-banking financial companies' (NBFC) bad loans by one-third, says a report. Investors await November jobs report in the U.S. even as markets ended gains amid concerns over the omicron variant and possibility of faster tapering”, the market analyst also said.   

India VIX climbs by 2.51 per cent. In the 50-share pack Nifty, UPL was the biggest gainer, up 2.08% per cent. BPCL, ONGC and IOC were among other gainers. Power Grid Corp was the top loser in the pack, down 3.92 per cent. Reliance, Kotak Mahindra and Tech Mahindra were other losers.   

According to Nigam, “Immediate support and resistance for Nifty 50 is 17000 and 17450. Similarly, support and resistance for bank nifty is 35,800 and 36,850.”   

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:    

Global Markets:  

The US markets ended in negative on Friday. Dow Jones closed 59.71 points down to 34,580.08, Nasdaq Composite ended 1.92% lower or 295.85 points to 15,085.47 and S&P 500 also settled 0.84% down to 4,538.43 on Friday's closing.  

Asian Markets:  

On Monday morning, major Asian market indices were trading in the red as Japanese Nikkei 225 was down over 207 points, Hang Seng Index lower by 1.50% and Shanghai Composite slipped 0.07% in the morning trade around 7.15 am.  

SGX Nifty:  

 SGX Nifty Futures was trading flat with negative bias as the futures index slipped 17.50% to 17,217.50 at 7.20 am, indicating a flat opening for the Indian markets.     

Oil steadies, paring gains as rising COVID cases spur demand worries    

Crude prices ended little changed on Friday after erasing earlier big gains on growing worries that rising coronavirus cases and a new variant could reduce global oil demand.  

Earlier in the day, oil prices climbed more than $2 a barrel after producer group OPEC+ said it could review its policy to hike output at short notice if a rising number of pandemic lockdowns chokes off demand.  

Brent futures rose 21 cents, or 0.3%, to settle at $69.88 a barrel, while U.S. West Texas Intermediate (WTI) crude ended 24 cents, or 0.4%, lower at $66.26.  

Both benchmarks declined for a sixth week in a row for the first time since November 2018, and both remained in technically oversold territory for a sixth straight day for the first time since September 2020.  

Rakesh Jhunjhunwala-backed Metro Brands IPO to open on Dec 10  

The initial share-sale of footwear retailer Metro Brands Ltd, which is backed by Rakesh Jhunjhunwala, will open for public subscription on December 10.  

The initial public offering (IPO) will conclude on December 14, according to the red herring prospectus.  

The initial share-sale comprises fresh issuance of equity shares worth Rs 295 crore and an offer for sale of 2.14 crore equity shares by promoters and other shareholders.  

Through the IPO, the company's promoters will offload nearly 10 per cent stake. Post the IPO, the promoter and promoter group holding in the company will come down to 75 per cent from the current level of around 85 per cent.  

Discoms' outstanding dues to gencos rise 1.3%  

Total outstanding dues owed by electricity distribution companies (discoms) to power producers rose 1.3 per cent year-on-year to Rs 1,13,227 crore in December.  

Discoms owed total Rs 1,11,762 crore to power generation firms in December 2020, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).  

Total dues in December 2021 also increased sequentially compared to Rs 1,13,081 crore in November this year.  

Rupee drops 10 paise to 75.12 against USD  

The Indian rupee extended its loss by another 10 paise to settle at 75.12 against the US currency on Friday in line with massive sell-offs in domestic equities amid growing worries over the new COVID variant.  

At the interbank foreign exchange market, the local currency opened at 74.98 and witnessed an intra-day high of 74.95 and a low of 75.18 against the US dollar in a highly volatile trading session.  

The local unit finally settled at 75.12 a dollar, down 10 paise over its previous close.  

For the week, the currency weakened by 23 paise against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent up at 96.21.  

Lot of unhealthy speculation on crypto taking place: FM  

Asserting that a lot of speculation is taking place on cryptocurrencies, Finance Minister Nirmala Sitharaman on Saturday said these speculations are not "healthy at all."  

Her comments come against the backdrop of the government preparing to come out with legislation to regulate cryptocurrencies.  

Speaking at the HT Leadership Summit, the Finance Minister said there is certainly a well consulted bill which is coming in Parliament after the Cabinet nod.  

"There is a lot of speculation...That's not healthy at all," she said in a reply to a question if she thinks that a lot of unregulated speculation is taking place on crypto.  

Sebi in process of stipulating disclosures specific to ESG scheme: Tyagi  

Markets regulator Sebi is in the process of putting in place disclosure for mutual fund schemes with the ESG (environment sustainability and governance) theme, its chief Ajay Tyagi said on Friday.  

Also, the regulator is examining the disclosure of ESG related aspects in the rating press release by credit rating agencies, he added.  

Speaking at the inauguration of an ESG Centre for Research and Innovation at IIM Ahmedabad, Tyagi stressed on the need of in depth research on ESG norms with focus towards developing high quality, objective, content-specific rating matrices.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 3356.17 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1648.79 crore, provisional data showed on the NSE.  

Stocks under F&O ban on NSE    

Two stocks: Indiabulls Housing Finance and Idea placed under the F&O ban on Monday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit. 

(With inputs from PTI, Reuters and other agencies)  

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)