Market Live Updates Today: Trends on SGX Nifty indicate a cautious opening for the index in India

Sensex trading at 61,440 up around +131 points; Nifty trading at 18,342 up around +34 points.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 855.47 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 115.31 crore in the Indian equity market on January 17, as per provisional data available on the NSE. 

Sebi overhauls preferential allotment rules

Capital markets regulator Sebi has relaxed pricing norms and lock-in requirements to make it easier for companies to raise funds through preferential allotment of shares.

Also, the regulator has allowed pledging of shares allotted to promoter or promoter group under preferential issue during the lock-in period, according to a notification. In addition, Sebi has said any preferential issue resulting in a change in control or allotment of more than a 5 percent stake will require a valuation report from a registered valuer.

India's overall economic activity remains strong, says RBI article

India’s overall economic activity remains strong, driven by an upbeat consumer confidence and uptick in bank credit, and expectations that Omicron may turn out to be a "flash flood rather than a wave" have further brightened the prospects, according to a RBI article.

"On the vaccination front, India has made rapid strides. On the Omicron variant, the recent data from the UK and South Africa suggest that such infections are 66 to 80 percent less severe, with a lower need for hospitalisation,” the article on the state of economy published in the RBI Bulletin said on Monday.

Global job market will take longer to recover; 2022 to see 52 million less jobs than pre-pandemic level: ILO

The job market across economies will take longer to recover, and the world labour market will witness equivalent of 52 million less jobs in 2022 versus the pre Covid-19 levels, International Labour Organisation (ILO) said on January 17.

The global labour market outlook has deteriorated as the Omicron variant of Covid-19 continues to infect people and restrict economic recovery, the UN body said, adding that “a return to pre-pandemic performance is likely to remain elusive for much of the world over the coming years”.

“On the basis of the latest economic growth forecasts, the ILO is projecting that total hours worked globally in 2022 will remain almost 2 percent below their pre-pandemic level when adjusted for population growth, corresponding to a deficit of 52 million full-time equivalent jobs (assuming a 48-hour working week),” ILO said in a report.

Sebi tightens rules governing utilisation of IPO proceeds; tweaks OFS norms

Tightening rules for initial public offering (IPO), Sebi has put a cap on the usage of the issue proceeds for unidentified future acquisitions and restricted the number of shares that can be offered by significant shareholders. Also, the regulator has extended anchor investors' lock-in period to 90 days and now, funds reserved for general corporate purposes will be monitored by credit rating agencies, according to a notification issued on January 14.

Further, Sebi has revised the allocation methodology for non-institutional investors (NIIs). To give effect to these, Sebi has amended various aspects of the regulatory framework under the ICDR (Issue of Capital and Disclosure Requirements) Regulations.

Oil climbs as supplies expected to remain tight

Oil prices rose on Monday with investors betting that global supply will remain tight, although restraint by major producers was partially offset by a rise in Libyan output. Brent crude settled up 42 cents, or 0.5%, to $86.48 a barrel. Earlier in the session, the contract touched its highest price since October 3, 2018, at $86.71.

US West Texas Intermediate crude was up 53 cents, or 0.6%, at $84.35 after touching its highest price since Nov. 10 at $84.78. Trade was subdued due to the US holiday honoring slain civil rights leader Martin Luther King Jr.