The Nikkei fell 0.6% while the Shanghai Composite fell 0.3%. Hang Seng is trading with a decline of 0.5%.
In US stock markets, Wall Street indices closed lower on Thursday as investors pulled back some profits after three straight days of gains to turn their attention to upcoming inflation data and how it will affect the Federal Reserve meeting next week. Can do.
The Dow Jones closed flat while the Nasdaq Composite fell 1.7%.
Back home after the SGX Nifty trend, Indian stock markets opened on a flat note. As investors await inflation data in India and the US, benchmark indices are trading on a cautious note.
Rakesh Jhunjhunwala backed Star Health and Allied Insurance Company listed on the stock exchanges today. The company’s IPO was open for subscription between November 30 and December 2 in the prescribed price range. 870-900 each.
BSE Sensex is trading with a fall of 154 points. Meanwhile, NSE Nifty is trading with a decline of 35 points.
Asian Paints and Sun Pharma are on top today. Titan, on the other hand, is among the top losers today.
BSE Mid Cap Index and BSE Small Cap Index are trading up 0.2% and 0.7% respectively.
Sectoral indices are trading mixed with stocks in the capital goods sector and the automobile sector is showing buying interest.
On the other hand, IT stocks and banking stocks are trading in the red.
Shares of Tanla Platforms and Vodafone Idea today hit a 52-week high.
Rupee is trading at 75.61 against US Dollar.
Gold prices are trading up by 0.1% 47,993 per 10 grams.
Meanwhile, silver prices are trading with a fall of 0.1%. 60,776 per kg.
Gold edged higher but headed for a fourth straight weekly decline as investors kept ahead of key US inflation data that could influence the Federal Reserve’s next policy move.
Crude oil prices tumbled on Thursday, after ratings downgraded two Chinese property developers at the world’s biggest oil importer, and measures taken by some governments to fight the Omicron version of the coronavirus.
In news from pharma sector, Dr Reddy’s Lab is one of the top buzzing stocks today.
Dr Reddy’s Lab on Thursday said it has launched Valsartan tablets used to treat high blood pressure and heart failure in the US market.
Valsartan tablet is the generic therapeutic equivalent of Diovan approved by the US Food and Drug Administration (USFDA), the company said in a regulatory filing.
In other news, Dr Reddy’s Lab has sought permission from India’s drug regulator to conduct a phase-3 clinical trial to evaluate the efficacy and safety of Sputnik Lite vaccine as a booster dose against COVID-19 in India.
Describing Sputnik Lite as component 1 of the Gam-Covid-Vac Combined Vector Vaccine (Sputnik V), P Madhavi, Director-Regulatory Affairs, Dr Reddy’s Laboratories, proposed using batches of the vaccine manufactured at Hetero Biopharma, Telangana. and at a loan license facility at Shilpa Biologicals in Karnataka for Phase-3 trials.
Sputnik Lite is yet to receive emergency use authorization from the Drug Controller General of India (DCGI).
Madhavi in the application justified the need for a booster dose six months after the second dose for all adult populations rather than high-risk populations, saying,
After getting vaccinated against COVID-19, protection against the virus may decrease over time and become less effective against the delta variant.
Madhavi said that both Pfizer and Moderna had studied booster doses in the overall adult population demonstrating an increase in immunogenicity titres after the administration of the booster dose.
Recently, Serum Institute of India sought DCGI approval for Kovishield as a booster dose, citing the demand for booster shot due to adequate stock of vaccine and emergence of new coronavirus variants in the country.
How this happens remains to be seen. In the meantime, we will keep you informed of the latest developments in the sector.
Dr Reddy’s Lab shares are currently trading with a gain of 0.2%.
Moving on to the news from the mutual fund sector, Increase in inflows into equity mutual funds 116.2 billion in November, reflects monthly data released by AMFI.
The inflows can be attributed to the slight improvement in the market recently. mutual fund industry registered net inflow of 461.7 billion in November pushed the assets under management (AUM) of the industry to an all-time high 38 lakh crore at the end of November.
This was the ninth consecutive month of net investment. Equity mutual funds are witnessing inflows since March this year due to strong rally in the market.
According to experts, most investors considered the fall in the market as a good entry point. Meanwhile, many preferred to stay invested which is evident from the low redemption numbers. compared to 174.8 billion 234.6 billion in October.
Within Equity Segment, Flexi Cap Funds witnessed highest net inflows 26.6 billion
The number of SIP accounts increased to 4.78 crore as on 30 November, from 4.64 crore on 31 October, while the monthly SIP contribution increased to 4.78 crore. 110 billion figure for the first time.
Speaking of SIP, here is an interesting data…
if you had invested 1,000 in a systematic investment plan every month in the Sensex between 2011 and September 2021, here’s what your returns would look like.
see full image
an investment of 1.3 lakh spread over 129 months would have reached close to 3 lakhs. According to Rahul Shah, Co-Head of Research at Equitymaster, if you’re concerned Investing at current market highs, SIP may be the way to go. In the ups and downs of the market, stick with it through thick and thin and you won’t get bad returns from your investments.
This article is syndicated from Equitymaster.com
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