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While Nifty has plunged around 3% so far in December, historical trend indicates that the festive spirit may soon overpower bears. In the last 20 years, Nifty has ended on a positive note in December for 80% of the time. December has the highest average monthly returns of 3.2%, Samco Securities said.

On the downside, the area between 18,133 and 18,080 represents a significant demand zone. As long as Nifty trades above 18,080, the general bullish texture will hold, but below 18,080, we can anticipate a short-term trend reversal,” Santosh Meena, Head of Research, Swastika Investmart Ltd., said.

The Covid surge in China is driven by a complete reversal of its zero-Covid policy. While infections have touched all-time high, epidemiologists have warned at this rate almost 60% of the Chinese population will get Covid in the next 90 days and there could be multiple such waves.

IDBI Bank is 95% owned by Life Insurance Corp of India (LIC) and the government, but the Reserve Bank of India (RBI) has classified it as a private lender.

China will seize the time window to implement policy measures to support the economy, aiming for an improvement in growth in early 2023, state media on Wednesday quoted the cabinet as saying.

The falling stockpiles come as demand for heating oil is set to soar with a powerful winter storm hitting the United States, expected to bring sub-zero wind chills as far south as Texas and record-breaking lows to Florida and the eastern states.

Currently, it is in a short-term correction. The stock can find support near the 31 level. Long-term investors should keep holding their positions as long as it sustains above the major support level placed around Rs 22. On the higher side, 36 and then 44 levels can be seen.

With this, secured lenders of both the assets, which include Punjab National Bank, Union Bank, Indian Overseas Bank, Deutsche Bank, JP Morgan and L&T Infra Credit, with combined debt of over Rs 630 crore, will get 100 per cent recovery through restructuring of their debt under Invit. Besides, group creditors (IFIN, ITNL, IL&FS) will receive Invit units as settlement of their dues, which will subsequently be transferred to the lenders of the group creditors as a resolution of their debt.

External members believe that the worsening economic conditions, influenced by the global slowdown and past rate increases since early summer, require the MPC to pause and assess conditions before continuing on the path of further rate tightening, minutes of the last MPC show.

Hinduja Group made the second-highest offer, of Rs 8,110 crore, for the core investment company that houses 20 financial services entities, ranging from insurance to broking, the people said.