MARKET LIVE: SGX Nifty indicates a positive start; watch out for RIL

The Indian markets will today track global cues, corporate results, stock-specific developments, and the SC hearing on AGR dues.

In yesterday's hearing, the Supreme Court reiterated its stand on the payment of AGR dues by telecom companies, saying no “technicality” would come in the way of enforcing the recovery of levies.

Reliance Industries is likely to be a big focus in today's session after the conglomerate announced the acquisition of a majority equity stake in online pharmacy delivery startup Netmeds for a cash consideration of approximately Rs 620 crore. READ MORE

Bengaluru-based realty firm Embassy Group has signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate and take control of the merged entity.

In the US, the S&P 500 closed at a record high overnight, rebounding from huge losses triggered by the coronavirus pandemic. Overall, the Dow Jones fell 0.24 per cent, the S&P 500 gained 0.23 per cent, and the Nasdaq added 0.73 per cent. Minutes from the Fed’s recent meeting due today may provide some insight into how the central bank sees the recovery playing out.

Asian equities were firmer on Wednesday. Australia’s ASX 200 rose 0.7 per cent in early trade while South Korea’s Kospi was up 0.6 per cent. Japan’s Nikkei gained 0.14 per cent.