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MARKET LIVE: SGX Nifty indicates a gap-up start for benchmark indices

LIVE Market updates: Shares of Tata Consultancy Services may trade actively since today is the last day to participate in the Rs 16,000-crore share buyback

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MARKET LIVE | Markets | stock market

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

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Photo credit: Kamlesh Pednekar
An overnight rally in the global equities owing to vaccine optimism and transition to Joe Biden's presidency in the US has set the stage for further gains in the Indian benchmark indices in today's session which are already ruling at their lifetime high levels. 

At 7:30 AM, the SGX Nifty was trading at 13,178 levels, up nearly 90-odd points from Nifty futures last close, indicating a gap-up start for the Indian markets today. The expiry of November series derivative contracts, scheduled for tomorrow, may meanwhile inject some volatility.

Market participants would also track the Union Cabinet meeting, scheduled for later today, where the Centre may consider a proposal to infuse Rs 6,000 crore into the National Investment and Infrastructure Fund. 

Shares of Tata Consultancy Services may trade actively since today is the last day to participate in the Rs 16,000-crore share buyback.

Global cues
 
US stocks rallied overnight as the Dow breached the 30,000 level for the first time while the S&P also set a record closing high. Overall, the Dow rose 1.5 per cent, the S&P 500 gained 1.6 per cent and the Nasdaq added 1.3 per cent.

Asian stocks made early gains on Wednesday. Australia’s ASX 200 rose 0.77% and Japan’s Nikkei gained 1.8 per cent in early trading. Hong Kong’s main index rose 1.2 per cent.

In commodities, oil rose about 4 per cent on Tuesday to touch highs not seen since March. Brent crude settled at $47.86 a barrel, gaining 3.9 per cent.

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