India-dedicated funds withdraw $2b in 30 days; Is Opec deal good for India? Tread with caution on D-St

ET Markets Daily Brief | Sat, Dec 03, 2016 | 04:45 PM IST Follow ET Markets

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India-dedicated funds withdrew $2b in a month The selling by offshore funds is triggered largely by hardening of bond yields in the US on account of expectations that inflationary pressure may build up. Market awaiting monetary injections by RBI Short-term traders may stay on the sidelines till RBI's policy pronouncement. If interest rates are reduced more than expectations, a brief rally is likely. Will the Opec deal to cap oil output help or hurt India? Upstream oil and gas companies such as ONGC, OIL and RIL - which have faced a 15-20 per cent drop in revenues - are likely to see modest growth in earnings.

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Market Watch 3 Dec | 04:45PM| SENSEX NIFTY USD/INR GOLD 26230.66 ↓-329.26 8086.80 ↓-106.10 68.22 ↓-0.13 28490.00 ↑570.00

Gainers Losers 3 Dec, 2016, 04:45PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Maruti Infrastructure Ltd. 30.10 19.92 54597 30.10 25.25 Quadrant Televentures Ltd. 3.62 19.87 2592836 3.62 3.02 Vedavaag Systems Ltd. 46.90 19.04 219710 47.25 37.70

Tweet of the day... RBI to cut repo rate by 25 bps, predict economists

FROM THE NEWSPAPER

Oil rallies to best week in years after OPEC output deal Front-month Brent crude futures LCOc1 ended the session up at $54.46 a barrel, up 52 cents, 0.96%. The contract rose more than 15% for the week, its biggest gain since early 2009. F&O mart: Fresh Call writing at 8,200 to cap Nifty Total Put open interest of 75.90 lakh contracts stood at strike prices 8K, which will act as a crucial base in the Dec series, followed by strike price 8,100. Tech view: Nifty50 forms bearish candle; avoid longs Traders are advised not to create any long positions on declines and remain cautious ahead of Reserve Bank of India's money policy review on December 7. Mapping the market: Investors dump banking stocks  The gauge of volatility index on NSE surged by 7.46 per cent to 17.93 on Friday after the benchmark Sensex tanked 329 points. Corporate bond yield spread likely to widen While highly-rated cos may be able to make the transition smoothly, financially stressed infrastructure groups may find costs of migration disproportionate.

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