Sensex, Nifty Updates: Benchmark Sensex and Nifty have opened sharply negative on Thursday, tracking heavy sell off in overseas markets as investors fretted over fears of a second wave of infections. Sensex fell 535 points lower at 31,450 and Nifty started the day at 9,243, down 140 points. SGX Nifty traded 50 points lower at 9,265 level, indicating a tepid start in domestic grounds today. Globally indices were mixed as investors kept trades cautious amid growing second virus wave fears. Yesterday, Sensex closed 637 points higher at 32,008 and Nifty ended the session at 9383, rising 187 points.
Here's a look at the updates of the market action on BSE and NSE today
9.33 AM: News ALert
Finance Ministry Nirmala Sitharaman will be hold another Press Conference today at 4PM, in which she is likely to announce measures regarding agriculture and allied activities. FM may also touch upon the supply chain disruption and ways to resolve the issues
9.30 AM: Stocks to watch today on May 1
Maruti, Godrej Consumer, Siemens, Biocon, Tata Consumer, Escorts, ABB, Kotak Bank among others are the top stocks to watch out for in Thursday's trading session
9.26 AM: Opening bell
Benchmark Sensex and Nifty have opened sharply negative on Thursday, tracking heavy sell off in overseas markets as investors fretted over fears of a second wave of infections. Sensex fell 535 points lower at 31,450 and Nifty started the day at 9,243, down 140 points.
9. 15 AM: Nifty's outlook
As per market experts, Nifty will remain in pressure. On the lower side, the index will continue to find support at around 9,050 and then at 8,800 levels and 8,500 levels. Meanwhile, resistance is observed at 9,535, then at 9,600 and 9,750 level and then 9,900 mark.
9.05 AM: Pre open session today
Benchmark Sensex and Nifty have pre-opened sharply negative on Thursday, tracking heavy sell off in overseas markets as investors fretted over fears of a second wave of infections. Sensex fell 569 points lower at 31,412 and Nifty started the day at 9,230, down 150 points.
8.55 AM: Global cues
Globally stocks were falling oday after Federal Reserve warned of a "significantly worse" US recession than any downturn since World War II. Fed Chair Jerome Powell comments turned sentiments pessimistic, at a time when many economies move towards reopening lockdowns and led to a sharp selloff in equities.
A per experts, overseas markets continued their bearish trend on back of fears of a second wave of infections.
The Dow Jones Industrial Average fell 2.17%, the S&P 500 lost 1.75%, and the Nasdaq Composite dropped 1.55%.
8.50 AM: Q4 earnings today
Companies set to announce their earnings are Biocon, Tata Consumer Products, Indian Energy Exchange, Escorts, Indiabulls Real Estate, Oracle Financial Services, Mahindra Lifespace Developers, Manappuram Finance.
8. 45 AM: SGX Nifty
SGX Nifty traded 50 points lower at 9,265 level, indicating a tepid start in domestic grounds today
8. 40 AM: FII/ DII action on Wednesday
On a net basis, FIIs sold Rs 283.43 crore while DIIs bought Rs 232.65 crore in equities on Wednesday
8. 30 AM: Highlights of FM's announcements
The Finance Minister yesterday announced additional stimulus measures of Rs 6 lakh crore today on top of Rs 10 lakh crore announced so far. FM also announced infusing liquidity worth Rs 45,000 crore through a Partial Credit Guarantee Scheme for NBFCs. In a move to address the liquidity issues for the micro, small and medium enterprises (MSMEs), FM announced collateral-free MSME loans worth Rs 3 lakh crores, 100% guaranteed by the government. FM also announced other measures like reduction of TDS and TCS rates by 25% and extension of due dates of tax returns and tax assessments. FM also announced fresh injection of Rs 90,000 crs into DISCOMs, in a move to de-stress them and improve the liquidity for power generation companies.
8. 20 AM: PM Care fund
PM CARES Fund has allocated Rs 3,100 crore in fight against COVID-19, of which Rs 1,000 crore will be used for the care of migrant labourers.
8.10 AM: Rupee Closing
Rupee, the local unit, closed stronger at 75.47 per dollar on Wednesday compared to its previous close of 75.50 per US dollar.
8.00 AM: Closing session on WednesdaySensex and Nifty traded majorly bullish on Wednesday and closed 2.3% higher each, as market investors cheered over the Rs 20 lakh crore stimulus pacakage, announced by Modi government. Sensex closed 637 points higher at 32,008 and Nifty ended the session at 9383, rising 187 points.