Shanghai Composite, Hang Seng, Nikkei 225, TOPIX, Kospi, and KOSDAQ were all trading deep in red.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets enter the last trading session of February on the back of a three-day gaining streak. S&P BSE Sensex now sits at 51,039 points while the 50-stock NSE Nifty is at 15,097. However, a sell-off on Wall Street on Thursday could haunt domestic equities. SGX Nifty was down 210 points during the early hours of trade. NASDAQ tanked the most on Thursday, falling 3.52%, followed by S&P 500, down 2.45%, and Dow Jones ended 1.75% lower. Shanghai Composite, Hang Seng, Nikkei 225, TOPIX, Kospi, and KOSDAQ were all trading deep in red.
RailTel’s shares will make their stock market debut today. The Rs 819 crore initial public offering (IPO) from the Ministry of Railways, its second public issue of 2021, had earlier this month garnered a subscription tally of 42.39 times. Incorporated in 2000, RailTel is an information and communications technology infrastructure provider and one of the largest neutral telecom infrastructure providers in the country. The issue was an offer for sale (OFS) with the government looking to trim its stake in the firm. Shares were offered in the price band of Rs 93-94 per share with the minimum application size at 155 equity shares.
Highlights
After three days of gains, Sensex and Nifty could threaten to plummet on the last trading session of the week. SGX Nifty was down more than 200 points during the early hours of Friday. Ahead of the rout on Wall Street on Thursday that saw stock markets tank, Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said that technically, the market is opening the window of consolidation between the broader range of 15350/52000 and 14850/50350 levels, in his view. However, rising bond yields in the US have since given investors reasons to ditch stocks.
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Global rating agency Moody’s on Thursday sharply raised its India growth forecast for the next fiscal to 13.7% from 10.8% estimated earlier, citing growing confidence of the normalisation of economic activity with the rollout of Covid-19 vaccines.
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Nifty futures on Singapore Exchange are down deep in red on Friday morning. SGX Nifty was down more than 200 points, hinting at a negative start for domestic equity markets.
Wall Street’s main indexes fell on Thursday, with the Nasdaq slipping about 2.5%, as technology-related stocks remained under pressure following a rise in U.S. bond yields. The benchmark 10-year Treasury yields hit a one-year high of 1.48%, prompting investors to lock in profits on some high-flying growth stocks due to concerns over heightened valuations.
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