The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat opening for the index in India with a 6 points gain.
Sensex closed 458 points, or 0.92 percent, higher at 50,255.75 on February 3 and Nifty closed with a gain of 142 points, or 0.97 percent, at 14,789.95. According to pivot charts, the key support levels for the Nifty are placed at 14,619.87, followed by 14,449.73. If the index moves up, the key resistance levels to watch out for are 14,914.47 and 15,038.93.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
The Dow and S&P 500 rose slightly on Wednesday, registering a third straight session of gains, with Alphabet Inc’s shares hitting a record high following its strong quarterly results.
The Dow Jones Industrial Average rose 36.12 points, or 0.12%, to 30,723.6, the S&P 500 gained 3.86 points, or 0.10%, to 3,830.17 and the Nasdaq Composite dropped 2.23 points, or 0.02%, to 13,610.54.
Asian Markets
Asian stocks came under pressure on Thursday as a mixed Wall Street session gave investors few immediate reasons to increase their risk positions following the recent social media-driven trading chaos.
The Australian S&P/ASX 200 index lost 0.34% during early trade and Japan’s Nikkei 225 fell 0.35%. The lackluster start to Asian trade followed a mixed Wall Street session.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 6 points gain. The Nifty futures were trading at 14,834 on the Singaporean Exchange around 07:30 hours IST.
Railways' revenue declined by Rs 36,993 crore in 2020 due to pandemic: Govt
The railways' revenue in 2020 declined by Rs 36,993 crore as compared to the previous year due to the adverse impact of the COVID-19 pandemic, Railway Minister Piyush Goyal informed Parliament on Wednesday.
"Total traffic revenue of railways in the current year to end of December 2020 has declined by Rs 36,993.82 crore compared to corresponding period of last year. Out of this, Rs 32,768.97 crore is on account of decline in passenger revenues during this period," he said. The minister also provided a list of losses incurred by zonal railways.
Slower consolidation to constrain India's fiscal strength over medium term: Moody's
Rating agency Moody's on Wednesday India's fiscal deficit projections are higher than expected and slower consolidation will constrain its fiscal strength over the medium term. The US-based agency said it expects India's nominal GDP growth to rise to closer to 17 percent in fiscal 2021, higher than 14.4 percent projected in the Budget.
Moody's Vice President and Senior Credit Officer William Foster said while the headline deficit projections are larger than the agency expected, they reflect both credible budgetary assumptions and greater transparency than in past budgets.
SEBI bars Future Group’s Kishore Biyani from accessing securities market for a year
Capital markets regulator SEBI barred billionaire Kishore Biyani, three others and related enterprises of his Future Group from accessing the securities market for a year. The Securities and Exchange Board of India (SEBI) passed an order in connection with an insider trading case in 2017 when a few companies of the Future Group were being restructured.
Biyani, a few related entities and three others cannot buy, sell or deal in securities of Future Retail Ltd (FRL) for two years, said the SEBI order issued on February 3. The regulator has asked these entities to disgorge an amount of at least Rs 20.53 crore. This is basically the amount that the regulator has estimated as wrongful gains made by these entities.
Future Group declined comment.
Mpowered seeks SEBI approval to set up AIF for retail investors
Gurgram-based asset management startup Mpowered has sought the Securities and Exchange Board of India (SEBI) approval for setting up an alternative investment fund (AIF) which will allow retail investors to invest in commercial real estate for a promised return.
"We will be creating a fund where individuals can invest their money in the multiples of Rs 25 lakh and get a certain percentage of return on the investment because most of these investments would be having a rental yield. They would also be able to do a forward sale of their investment to other people," said Sudeep Singh, Founder and CEO, Mpowered told Moneycontrol in an interaction.
LIC IPO may hit market in Q4 of next fiscal: DEA Secretary Tarun Bajaj
The initial public offering of LIC may hit the market in the fourth quarter of next financial year, and the government has introduced amendments to the Life Insurance Corporation Act 1956 to facilitate this, Economic Affairs Secretary Tarun Bajaj said on Wednesday.
As many as 27 amendments have been pushed through the Finance Bill 2021 tabled by Finance Minister Nirmala Sitharaman on Monday along with the Union Budget 2021-22. "Probably in the third or fourth quarter of next financial year, depending on how soon the valuation comes," he told
Results today
State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, Arvind, Bajaj Electricals, Chambal Fertilisers, Container Corporation, Gillette India, Godrej Agrovet, Godrej Properties, HPCL, Honeywell Automation India, ICRA, Ipca Laboratories, Jubilant Industries, Kalpataru Power Transmission, NTPC, REC, Sonata Software, Strides Pharma Science, Tata Power, Trent, Whirlpool of India, Zee Entertainment Enterprises, etc.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 2,520.92 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 399.74 crore in the Indian equity market on February 3, as per provisional data available on the NSE.
1 stock under F&O ban on NSE
SAIL is under the F&O ban for February 4. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
With inputs from Reuters & other agencies