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Indian stock markets expected to open higher today

By Munikoti Rochan

03:03, 22 December 2021

Stock market chart illustration
Indian stock markets seem to be headed for a positive opening on Wednesday with Wall Street’s gain, Asian shares support – Photo: Shutterstock

Wall Street’s robust gains and mostly higher Asian shares are expected to support the Indian stock markets, which seem to be headed for a positive opening on Wednesday.

The Nifty 50 Futures index, listed on the Singapore Exchange, was trading 0.18% higher to 16,859 points at 08:16 hours Indian time (UTC+5:30) on Wednesday, suggesting that Dalal Street will open in the green.

Avoid aggressive positions

“Wednesday is likely to see a stable start to the day; the levels of 16,830 and 16,900 (points) are likely to act as strong resistance points; the supports come in at 16,700 and 16,630 levels,” according to Gemstone Equity Research and Advisory Services chief analyst Milan Vaishnav.

“…The most immediate resistance for the markets on the higher side will be the 20-DMA which presently stands at 17,195 (points). This makes the zone of 17,200-17,350 a stiff resistance zone if the technical pullback in the markets continues. We recommend staying away from creating aggressive positions on either side; while staying extremely selective, a continued cautious approach is advised for the day,” Vaishnav wrote in a note to clients, published on his firm’s website.

Things to note prior to trade

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises (ZEEL) have inked definitive agreements to merge ZEEL with SPNI and combine their linear networks, digital assets, production operations and programme libraries.

Footwear retailer Metro Brands will commence trading on the bourses on Wednesday. Prior to its initial share sale, the Mumbai-based firm raised INR4.1bn ($54.14m) from 28 anchor investors, according to an exchange update.


16,736.00 Price
-0.270% 1D Chg, %
Long position overnight fee -0.0221%
Short position overnight fee -0.0001%
Overnight fee time 22:00 (UTC)
Spread 1.5


36,222.70 Price
-0.040% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 2.2


4,599.80 Price
-0.060% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.8


16,199.70 Price
-0.470% 1D Chg, %
Long position overnight fee -0.0259%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 30.0

Private sector lender YES Bank’s board of directors have decided to raise funds to the tune of INR100bn ($1.32bn). The bank told the bourses that the move is subject to approvals from shareholders and regulators.

The National Stock Exchange (NSE) has rolled out a new corporate governance initiative, named NSE Prime. Additional disclosure requirements are prescribed under the new framework, to provide for higher quality of public information and greater transparency. Listed companies that voluntarily choose to be part of NSE Prime will need to comply with pre-defined norms on an ongoing basis, which will be monitored by the NSE.

Key US indices ended higher

US benchmarks closed higher Tuesday after President Joe Biden announced new actions to check rising Omicron cases in the country.

The Dow Jones Industrial Average added 560.54 points, or 1.6%, to 35,492.70, the S&P 500 advanced 1.8% to 4,649.23, while the Nasdaq Composite jumped 3% to 15,341.09. The small-cap benchmark Russell 2000 improved 2.4%, notching its best day since July.

Read more: Nike (NKE) stock up 8% as supply-chain issues ease

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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