Besides, concerns over a coronavirus surge, new lockdowns, a slow vaccine rollout, oil prices, rupee movement and other global cues will set the market direction todayShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a flat start on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading just 4.50 points up at 14.231.50 on Singaporean Exchange. Market participants will eye the outcome of the Senate runoff elections in the battleground state of Georgia. This will determine which party controls the Senate for the next two years. Besides, concerns over a coronavirus surge, new lockdowns, a slow vaccine rollout, oil prices, rupee movement and other global cues will set the market direction today. Asian stock market peers were seen trading mixed in early trade today with Japan’s Nikkei 225 down 0.36 per cent. While the Topix index gained 0.16 per cent and South Korea’s Kospi fell 0.14 per cent. In overnight trade on Wall Street, US indices ended higher. The Dow Jones Industrial Average closed up over half a per cent, the S&P 500 gained 0.71 per cent, and the Nasdaq Composite added nearly one per cent.
President Ram Nath Kovind would address the joint sitting of the two Houses of Parliament on January 29, a Friday, and the Union Budget would be presented on February 1, PTI mentioned sources as citing the CCPA recommendations. The Economic Survey would be tabled in the Lok Sabha on January 29 after the President’s address, the sources said.
Highlights
BSE Sensex was up 100 points to trade at 48,527, while the broader Nifty 50 index was ruling at 14,223 levels on Wednesday
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COMEX gold tested the highest level since early November but has retreated to trade mixed near $1950/oz. Supporting gold price is hopes of continuing US stimulus measures, worsening virus situation and increased geopolitical tensions relating to Iran and increased US-China tensions. ETF outflows however show wariness in investors. The general momentum is positive however hopes of Democrat win in Georgia and Fed's dovish stance has already been factored in and this may limit the gains.:Ravindra Rao, VP- Head Commodity Research at Kotak Securities
MCX Gold is likely to witness profit booking in the first half however, key focus would be on ADP employment change, Georgia results and dollar's move as FOMC to release minutes of the last meeting overnight. The undertone is positive but we caution against profit booking too.: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers
We met IGL’s new Managing Director, Mr A K Jana, as part of our CGD CEO e-Series Conference. IGL’s volumes are poised to accelerate structurally. The new MD believes recent open access regulation is favourable for CGD incumbents as well, which will sustain profitability.: Edelweiss
BSE Sensex jumped over 200 points to trade at 48,654, while the broader Nifty 50 index was ruling at 14,373, rising 174 points in the pre-opening session on Wednesday
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HDFC Bank: HDFC Bank reported double-digit growth in deposits and advances in the third quarter ended December 31. IndusInd Bank: Private lender IndusInd Bank has registered a 3.2% quarter-on-quarter (q-o-q) growth in the net advances in the December quarter.
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On Tuesday, foreign institutional investors (FIIs) lapped up shares worth Rs 986.3 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 490.03 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.
Asian stock market peers were seen trading mixed in early trade today with Japan’s Nikkei 225 down 0.36 per cent. While the Topix index gained 0.16 per cent and South Korea’s Kospi fell 0.14 per cent.
In overnight trade on Wall Street, US indices ended higher. The Dow Jones Industrial Average closed up over half a per cent, the S&P 500 gained 0.71 per cent, and the Nasdaq Composite added nearly one per cent.
Market regulator Sebi has lifted the market ban imposed on seven entities, which came under the scanner in a front-running case, involving some dealers of Reliance Securities and their connected entities. It was alleged that the entities violated the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.
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Union Budget 2021 Date: The Cabinet Committee on Parliamentary Affairs (CCPA) has recommended that the Budget session of Parliament be held in two parts from January 29 to April 8, and all COVID-related protocols including the shift system are likely to be followed as was done during the Monsoon session. According to the Committee’s recommendation, Part 1 of the Budget session would be held from January 29 to February 15, and Part 2 from March 8 to April 8.
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The rupee fell to 73.18 on Tuesday, losing 0.2% to the dollar, the most in seven weeks amid concerns India’s trade deficit would widen further in the coming months as the economy recovers. The currency markets also apprehend foreign flows into the equity markets could slow after record levels of buying; so far in January, however, FPIs have been big buyers.
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