Sensex, Nifty50 open weak tracking global markets -- SBI, Vodafone Idea, Uniparts India among stocks to watch out for

• Sensex opened below 62,000 at 61,963, down by 217 points while the 50-stock index Nifty50 was down 64 points at 18,427.
• On the global front, investors await monetary policy decisions of the central banks in the US, Europe to be announced this week.
• Sula Vineyards and Abans Holdings IPO will open for subscription today, while Uniparts India shares will debut on the exchanges.
• BHEL, Delta Corp, GNFC and Punjab National Bank are banned in the F&O ban list on Monday.

Sensex and Nifty50 opened lower on Monday following weak global markets and ahead of November’s retail inflation data to be released later in the day. SGX Nifty, an early indicator of how the markets may perform, was down 0.29% early morning today.

Sensex opened below 62,000 at 61,963, down by 217 points while the 50-stock index Nifty50 was down 64 points at 18,427.

On the global front, investors await monetary policy decisions of the central banks in the US, Europe to be announced this week.

Last week, the Reserve Bank of India announced a 35-basis point rate hike in line with expectations, but analysts suggest that RBI governor Shaktikanta Das’ commentary indicates another rate hike is on the cards.

Last Friday, Indian markets closed lower due to selling pressure in IT, energy and PSU bank stocks.

Meanwhile Brent crude oil prices remained below $80 levels at $76 per barrel on Monday. At the same time rupee was up 0.25% at 82 against the US dollar.

Sula Vineyards and Abans Holdings IPO will open for subscription today, while Uniparts India shares will mark its debut on the stock exchanges.

Global markets
Markets around the world were also trading on a negative note as all eyes were on a US Fed rate decision on Wednesday.

Asian markets were trading lower on Monday, with the Hang Seng index falling 2.12%, Shanghai Composite declining 0.63%. Nikkei 225 posted a fall of 0.24%, while KOSPI was 0.67% in the red.

In the US markets, S&P 500 ended 0.73% lower on Friday, and the tech-heavy Nasdaq too closed 0.7% lower. The Dow Jones Industrial Average also ended lower with 0.9%.

“US S&P 500 Index recorded its worst return in five weeks, while the small-cap Russell 2000 Index endured its worst week since late September. Investors are waiting to hear what (Fed Reserve) Chairman (Jerome) Powell says about the inflationary environment next Wednesday (December 14) when the two-day Federal Open Market Committee (FOMC) meeting wraps up,” said Devarsh Vakil, deputy head of retail research at HDFC Securities.

Stocks to watch on Monday

State Bank of India: The public sector lender on Friday said its board will meet on December 14 to consider raising additional Tier 1 capital by issuing debt in rupees or other convertible currency raising capital through Tier I bonds.

Vodafone Idea: The telecom operator and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of ₹1,600 crore optionally convertible debentures to February 28.

V Guard Industries: The consumer electronics manufacturer announced that it will buy Sunflame Enterprises Private (SEPL) for ₹660 crore, on a cash-free, debt-free basis.

Stocks under F&0 ban
BHEL, Delta Corp, GNFC and Punjab National Bank are banned in the F&O ban list on Monday.


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