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MARKET LIVE: SGX Nifty indicates a firm start; realty, sugar stks in focus

LIVE markets: DLF, Oberoi realty in focus after FM Nirmala Sitharaman said the Union Budget for FY22 would have emphasis on sustaining high public expenditure on infrastructure

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MARKET LIVE | Markets | Mahindra & Mahindra

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
Following strong global cues, the SGX Nifty was ruling 60 points up at 7:30 AM, indicating a solid start and yet another fresh all-time high for the Indian benchmark indices today.

Investors will track the meeting of Sebi which is set to discuss some crucial issues pertaining to capital and commodity markets today.  Besides, a number of stock-specific developments are likely to trigger some key movements in stocks.

Infra-related stocks might trade actively today after Finance Minister Nirmala Sitharaman said the Union Budget for FY22 would have emphasis on sustaining high public expenditure on infrastructure to revive the economy.

Besides, sugar stocks may be in focus as the Union Cabinet may consider a proposal to provide export subsidy worth Rs 3,600 crore to sugar mills for the marketing year 2020-21 in today's meeting.

Mahindra & Mahindra has said it will hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rise in input costs.

Global cues
 
The US markets ended overnight trade with strong gains. The Dow Jones rose 1.13 per cent, the S&P 500 gained 1.3 per cent and the Nasdaq climbed 1.25 per cent, exceeding its previous record close.

Markets will now look to the US Federal Reserve for new projections. The central bank is to release a statement later today.

Following the strong Wall Street close, Asian stocks also gained on Wednesday, with Australian ASX 200 rising 1.25 per cent and Japan's Nikkei up 0.3 per cent in early trading.

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