Market Ahead, December 15: All you need to know before the opening bell

The main Wall Street indices closed mixed overnight as the first US vaccination was given to an intensive care nurse on Monday, the same day the country passed the grim milestone of 300,000 lives lost.

The S&P 500 closed down 0.4 per cent, the Nasdaq gained half a per cent and the Dow hit a record high but fell back 0.6 per cent for the day.

Asian stocks also came under pressure on Tuesday as concerns about increasing Covid-19 deaths, infections and lockdowns overshadowed optimism about the start of coronavirus vaccinations. Both Australian ASX 200 and Japan's Nikkei lost 0.3 per cent in early trading.

In commodities, oil prices were little changed in choppy trading on Monday. Brent crude futures for February ended the session 0.6 per cent higher at $50.29 a barrel. Prices slid more than 1 per cent earlier in the session after OPEC said global oil demand would rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic.

Owing to a weak start in Asia, the SGX Nifty also fell nearly 50 points to 13,544, at 7:30 AM, indicating a red opening for the Indian markets today.

Back home, investors are likely to remain stock-specific today while also tracking the vaccine newsflow, oil prices, and foreign fund flows to gauge the market sentiment.

India's Covid-19 caseload now stands at 99.06 lakh and the death toll has mounted to 1.43 lakh. Meanwhile, a continuous trend of daily reductions has reduced India's share of global active coronavirus cases to one in 55.

Meanwhile, financial stocks will be under investor radar as the Supreme Court today resumes hearing in the interest waiver case. 

NMDC is also expected to trade actively after the company said its Rs 1,378-crore share buyback offer will open on Thursday and close on December 31.

Telecom shares Vodafone Idea and Bharti Airtel may remain volatile today after Reliance Jio approached the regulator alleging that two firms were taking away its users under the guise of farmer support.

A high-powered committee will today evaluate preliminary bids received from Vedanta and private equity firms Apollo Global and I Squared Capital's arm Think Gas for buying the government's 52.98 per cent stake in Bharat Petroleum Corporation Limited.

And, the panel on divestment has approved the expression of interest and preliminary information memorandum for Shipping Corporation of India, paving the way for its privatisation. This would now be taken up by the ministerial panel on divestment.

In the primary market, the Rs 540-crore IPO of Mrs Bectors Food Specialities will open today for two days. The price band has been fixed at Rs 286-288 per share. Brokerage firm Angel Broking is positive on the long-term growth prospects of the industry and the company, and hence recommends to “Subscribe” to the issue for long term as well as for listing gains.