SGX Nifty Down 68 Points | Airtel, Meta Join Hands to Develop India's Digital Ecosystem | Russian Oil Price Cap | Top Buzzing Stocks Today

Tue, 6 Dec Pre-Open

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On Monday, Indian share markets swung between gains and losses to end flat.

Benchmark indices witnessed volatile trading activity as investors kept a watch on RBI's MPC meeting.

While the news of India's services activity growing at its quickest pace in three months arrested a steep fall in the market.

At the closing bell on Monday, the BSE Sensex stood lower by 34 points (down 0.1%).

Meanwhile, the NSE Nifty closed higher by 5 points (up 0.03%).

Tata Steel, Hindalco, and UPL were among the top gainers.

Apollo Hospital, Tata Motors, and Reliance, on the other hand, were among the top losers.

Broader markets settled on a firm note. The BSE Midcap gained 0.1% while the BSE SmallCap index ended 0.3% higher.

If you're looking to invest in midcap stocks that offer growth in the long run, check out these 5 midcap stocks for long term.

The sectoral indices ended on a mixed note with stocks in the metal sector, banking sector and realty sector witnessing heavy buying.

While stocks in the healthcare sector and telecom sector witnessed maximum selling pressure.

Shares of United Breweries, Apollo Tyres, and Cummins India hit their 52-week highs.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 81.7 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.5% at Rs 54,132 per 10 grams, at the time of Indian market closing hours on Monday.

At 8:00 AM today, the SGX Nifty was trading down by 68 points or 0.4% lower at 18,740 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Speaking of stock markets, Richa Agrawal talks about Indian space stocks and how they could lead to wealth creation.

Tune in to the below video to know more:

Top Buzzing Stocks Today

L&T will be among the top buzzing stocks today.

Larsen & Toubro's construction arm has received an order from the National High-Speed Rail Corp. Ltd. (NHSRCL) to build the Sabarmati Depot (MAHSR - D-2) in Gujarat for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project, led by Sojitz Corporation of Japan.

The major project is worth between Rs 25 and Rs 50 billion (bn).

Adani Enterprises share price will also be in focus.

Adani Group on Monday increased the borrowing limit of its airport arm.

Adani Airport Holdings (AAHL) has raised funds from Rs 140 bn to Rs 16.5 bn to expand its eight airports nationwide.

At least 90% of these loans were obtained as intercorporate deposits at interest rates ranging from 8% to 13.5% from other Adani Group firms, including Adani Enterprises, Adani Properties, and Adani Rail Infra.

SBI personal banking loan surpasses Rs 5 trillion

State Bank of India's portfolio of personal loans has crossed the Rs 5 trillion (tn) mark at the end of 30 November this year.

In a portfolio that includes loans for gold, pensions, automobiles, and education, the bank provided loans totaling to Rs 1 tn in 12 months. There are no housing loans in the portfolio.

Over the previous five years, tactical tactics and digital initiatives allowed it to surpass the Rs 5 tn threshold.

The bank's personal loan segment has increased from Rs 1 tn in January 2015 to Rs 2 tn in January 2018, Rs 3 tn in August 2020, and Rs 4 tn in November 2021. This category includes loans to individuals for consumption, auto loans, education loans, and loans against gold.

After a decade of underperformance, the share price of SBI has woken up. It's experiencing a similar breakout like ITC, and Coal India.

Oil prices above US$86 per barrel

Following a decision by the G7 and its allies to set a cap on the price of Russian oil at US$60 per barrel, the price of oil increased on Monday.

The price cap means only Russian oil bought for less than US$60 a barrel will be allowed to be shipped using G7 and EU tankers.

Following this, in Asian trading, Brent crude increased by around 1% to over US$86.

The decision was made after OPEC+ decided to continue its program of reducing production despite slower global growth and higher interest rates. This has affected crude oil prices and crude oil stocks in India.

OPEC+ is a group of 23 oil-exporting countries, including Russia, which meets regularly to decide how much crude oil to sell on the world market.

Bharti Airtel Teams Up with Meta

On Monday, telecom giant Bharti Airtel announced a collaboration with Meta Platforms, Inc. (Meta) to promote the expansion of India's digital ecosystem.

Meta develops solutions that assist people in connecting, finding communities, and growing enterprises.

When Facebook first appeared in 2004, it revolutionized the way people communicated. Since then, this apps like WhatsApp, Instagram, and Messenger gave people worldwide communication power.

Airtel and Meta will invest collaboratively in global connectivity infrastructure and new-age digital solutions based on Communications Platform as a Service (CPaaS) to meet the rising needs of users and enterprises in India.

To meet the growing demand for high-speed data and digital services as India gets ready to roll out 5G networks later this year, foundational connectivity infrastructure like undersea cable systems is essential.

Airtel will collaborate with Meta and STC to bring 2Africa Pearls to India.

The 2Africa cable would greatly increase India's cable capacity and give global hyper-scalers and enterprises the tools they need to create integrated solutions and give customers a top-notch seamless experience.

To further bolster Airtel's submarine network portfolio, both firms will pick up dedicated capacity and extend the cable to the landing station in Mumbai.

Bharti Airtel Limited is an Indian multinational telecommunications services corporation. It is India's second-largest network operator.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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