Following the weakness is US stock markets, Asian peers were trading in the red.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets soared to close with gains on Thursday after having lingered around in the negative earlier in the day. S&P BSE Sensex now sits at 49,584 and the 50-stock NSE Nifty was at 14,595. Wall Street closed with losses yesterday, with Dow Jones slipping 0.22% and S&P 500 down 0.38%. On Friday morning the SGX Nifty was trading 60 points lower, hinting at a gap-down start for domestic stock markets. Following the weakness is US stock markets, Asian peers were trading in the red. Hang Seng, Nikkei 225, TOPIX, KOSPI, and KOSDAQ were all down with losses. Only Shanghai Composite was up in green.
Global index provider, MSCI (Morgan Stanley Capital International) on Friday said that it will announce the changes to Bharti Airtel’s weightage as part of its February review. The move comes after changes were made to Bharti Airtel’s foreign ownership limit earlier this month by NSDL. The telecom major so far had 49% foreign investment limit, which has now been changed to 100%. “The proforma FOL and upward movement of the adjustment factor due to foreign room will be implemented as part of the upcoming February 2021 Quarterly Index Review,” MSCI said. So far this week, shares of Bharti Airtel have jumped 7.3%.
Highlights
Call Open Interest (OI) is maximum at 15000 strike with 24.34 lakh contracts, this is followed by 13.90 lakh contracts at 14000 strike.
For the January series, most Put OI is placed at 14000 strike with 30.56 lakh contracts, followed by 21.21 lakh contracts at 13500 strike.
"US stocks edged lower overnight as investors await the details of the incoming Biden administration's plans for a new coronavirus relief package. After many dovish comments, US Federal Reserve’s chair Powell finished on an optimistic note, saying there are many reasons to think the economy could recover and do well, saying it could be back to pre-virus economic peak reasonably soon. Still, US equities were slightly weaker as investors continue to fret over rising US yields US10Y yields which reversed yesterday's losses," said Stephen Innes, Chief Global Market Strategist at Axi.
HCL Technologies, PVR: A total of 16 companies including HCL Tech, PVR Ltd, Shoppers Stop, L&T Finance Holdings, Hathway Cable and Aditya Birla Money, among others are scheduled to announce their October-December quarter earnings later in the day today.
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The market valuation of Tata Consultancy Services (TCS) crossed Rs 12 lakh crore-mark at close of trade on Thursday, helped by a rally in its share price. TCS topped the gainers’ chart on Sensex, rising 2.89 per cent to close at Rs 3,250.15 on the BSE. During the day, it jumped 3.42 per cent to a record high of Rs 3,267.
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MSCI on Thursday said it would revise Bharti Airtel's weight owing to the change in its Foreign inevitable limit earlier this month. MSCI said the changes would come as a part of its index review in February. Bharti Airtel's foreign investable limit has been revised to 100% from 49% earlier.