Market LIVE Updates Today: Trends on SGX Nifty indicate a gap-up opening for the index in India with a 70 points gain

Rupee gains 14 paise to 75.12 against US dollar in early trade

Data Patterns lists at 47% premium versus issue price of Rs 585

Data Patterns India made a stellar debut on the bourses as the stock opened with a massive 47.69 percent gains on December 24 following strong IPO subscription. Healthy financials with sound orderbook and huge growth potential amid Make in India opportunity boosted investors' sentiment.

The stock started off trade at Rs 864, against issue price of Rs 585, on the BSE, while the opening price on the National Stock Exchange was Rs 856. This was the 62nd listing on the bourses in current calendar year.

Data Patterns to List Today

Defence and aerospace electronics solutions provider Data Patterns is likely to debut with more than a 45 percent premium on December 24 on the back of expected growth potential in the defence sector with the Make-in-India opportunity, a strong order book, healthy financials, and a stellar IPO subscription, say experts.

The company has garnered Rs 588.22 crore from the initial public offering, which comprised a fresh issuance of shares worth Rs 240 crore, and an offer-for-sale of Rs 348.22 crore from selling shareholders.

Stocks Under F&O Ban on NSE

Four stocks – Escorts, Indiabulls Housing Finance, Vodafone Idea, and Zee Entertainment Enterprises – are under the F&O ban for December 24. 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.

FII and DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 271.59 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,196.48 crore in the Indian equity market on December 23, as per provisional data available on the NSE.

US Jobless Claims Unchanged

The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.

Jobless claims remained at 205,000. The four-week average, which smooths out week-to-week ups and downs, rose to just over 206,000. The numbers suggest that the spread of the Omicron variant did not immediately trigger a wave of layoffs.

Japan Consumer Price Surge

Japan’s November consumer inflation marked the biggest year-on-year rise in nearly two years on surging fuel costs, a sign that the fallout from global commodity price gains is broadening.

Japan’s core consumer price index (CPI), which excludes volatile fresh food but includes oil costs, rose 0.5 percent in November from a year earlier, government data showed, exceeding a median market forecast for a 0.4 percent gain.

Gold Clings on $1,800

Gold prices hovered around the key $1,800-per-ounce level on Thursday ahead of the year-end holidays, even as the dollar steadied and appetite for riskier assets improved on easing fears over a fallout from the Omicron coronavirus variant.

Spot gold was up 0.4 percent to $1,809.89 per ounce by 1841 GMT, while US gold futures settled up 0.5 percent at $1,811.70 per ounce.

Card Tokenisation Deadline

The Reserve Bank of India (RBI) on December 23 extended the deadline for card tokenisation till June 30, 2022.

“The timeline for storing of CoF data is extended by six months, i.e. till June 30, 2022. After this, such data shall be purged,” the central bank said in its circular, directed to all payment system operators.

Asian Markets

Asian markets are trading firm with the Kospi and the Hang Seng up 0.5 percent each, while the Straits Times up 0.4 percent