On Friday morning, SGX Nifty is suggesting a muted start for indices as it trades 10 points lower. Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices snapped their 4-day gaining streak on Thursday. S&P BSE Sensex ended 148 points lower while Nifty 50 closed just below the 11,900 mark. On Friday morning, SGX Nifty is suggesting a muted start for indices as it trades 10 points lower. Cues from US stock markets were positive as Dow Jones inched 0.54% higher ahead of the US Presidential Debate. Asian peers were mixed on Friday morning with Shanghai Composite trading with a positive bias while Hang Seng was down with marginal losses. Nikkei 225 was up and Topix was trading lower, while indices in South Korea were down with losses.
Principal Economic Advisor, Sanjeev Sanyal, on Thursday said that India’s stimulus approach has been of initially creating a safety net for the poor and not of providing a large demand stimulus as the avenues of spending were locked during that phase. “We were rather reticent to provide a large demand stimulus when we were in a lockdown. If we had used up all our resources in trying to push demand during the period (April-August), we won’t have had the resources to push it (now),” Sanyal said at a CII event. He added that the time has now arrived for imparting a generic push to demand.
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SBI Cards and Payment Services' stocks tanked 8% on opening bell to trade at Rs 762.7 per share. The fall comes a day after the company announced its quarterly results where it reported a 46% fall in net profit.
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S&P BSE Sensex jumped over 200 points on opening while Nifty 50 was seen moving past the 11,950 mark. BSE Midcap and Smallcap indices were mirroring the upward move charted by the benchmark.
Benchmark indices surged during the pre-open session on Friday. S&P BSE Sensex zoomed 169 points while Nifty 50 jumped 61 points to sit just above the 11,950 mark.
Sensex was trading over 100 points higher in the pre-open session while Nifty 50 managed to stay above the 11,950 mark.
Domestic benchmark indices move higher during the pre-open session on Friday. Sensex gained over 200 points while the 50-stock Nifty breached the 11,950 mark.
Nifty is holding strong support at 11800/11750 levels while on the upside resistance is placed at 12025 levels. "Technically, Nifty has been trading in a positive trend with the support of 50 days Simple Moving Averages and positive RSI setup. Moreover, the indicator Stochastic has also shown a positive crossover, which signifies bullish strength for near term," said Sumeet Bagadia, Executive Director, Choice Broking.
After snapping their 4-day winning streak, Sensex and Nifty stare at a flat to positive start on Friday. SGX Nifty was trading with a positive bias after initially trading with losses on Friday morning. “A small positive candle was formed with upper and lower shadow, which indicate a formation of high wave type candle pattern. Having formed this high wave pattern beside the long range candle of Wednesday could indicate a sideways range movement in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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"On Friday, again the trend of US stock futures would be crucial to set the tone of our markets. The strategy should be to buy Nifty if it crosses 11950. In that case, Nifty could move up to 12050 or 12100 levels. Shorting is advisable if Nifty breaks 11770 levels. Support exists at 11660 and at 11600 levels. Be stock specific until the market is not breaking the trading zone which is hovering between the range of 11770 and 11950 levels," said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Kalanithi Maran and his company KAL Airways on Thursday moved the Delhi High Court seeking attachment of SpiceJet promoter Ajay Singh’s shareholding and taking over the management after the airline failed to deposit Rs 243 crore in favour of the Sun Group chairman.
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The government on Thursday launched a new series for Consumer Price Index — Industrial Workers (CPI-IW) changing the base year to 2016 from 2001, but said it will not have any immediate impact on the dearness allowance (DA) paid to government employees.
The CPI-IW is primarily used to regulate the dearness allowance of government employees and the workers in the industrial sectors. It is also used in the determination and revision of minimum wages in scheduled employments.
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Now that many sectors of the economy are emerging out of the torpor caused by the lockdown, there is a case for a timely ‘generic’ push to demand to accelerate the economic revival, principal economic adviser Sanjeev Sanyal said on Thursday.“We were rather reticent to provide a large demand stimulus when we were in a lockdown. If we had used up all our resources in trying to push demand during the period (April-August), we won’t have had the resources to push it (now),” Sanyal said at CII event.
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