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Market LIVE Update: SGX Nifty indicates volatile start for Indian indices
Premium- Stocks Market LIVE Update: The Sensex, Nifty are set for a volatile start on Wednesday after closing slightly lower on Tuesday. The SGX Nifty was up 0.01%
Asian markets slipped lower on cue from Wall Street peers, as the latter saw a mixed close amid lack of market driving activity in stocks. The US Senate voted 68-32 to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology.
09 Jun 2021, 08:45:10 AM IST
Market outlook
Markets are likely to be ranged on Wednesday while trends in SGX Nifty suggest a marginally higher opening of Indian benchmark indices. On Tuesday, the BSE Sensex closed at 52,328.51up 228.46 points or 0.44%. The Nifty was at 15,751.65, up 81.40 points or 0.52%. (Read here)
09 Jun 2021, 08:40:45 AM IST
Mehul Choksi's bail hearing adjourned till 11 June
The Dominica High Court has adjourned the bail hearing of fugitive diamond merchant Mehul Choksi till June 11, local media reports stated.
Choksi had approached the high court after the magistrate rejected his bail petition.
The bail hearing took place before high court judge Wynante Adrien-Roberts through video-conferencing on the plea of Choksi's local legal team comprising Julien Prevost, Wayne Norde, Wayne Marsh and Cara Shillingford-Marsh.
The government side represented by Director of Public Prosecution (DPP) Sherma Dalrymple "strongly objected" to Choksi's plea calling him a flight risk, Dominica News Online reported.
The judge adjourned the matter till June 11, it said.
09 Jun 2021, 08:34:50 AM IST
Petrol, diesel prices touch record highs in Delhi, Mumbai
Petrol and diesel prices were hiked again today after a day of halt, touching fresh record highs in India. Petrol and diesel prices were increased by 19 paise per litre each in Delhi, according to a price notification of oil marketing companies(OMCs). Petrol is priced at ₹95.56 a litre while diesel is now priced at ₹86.47 in Delhi. In Mumbai, petrol is being retailed at ₹101.76 per litre and diesel at ₹93.85 per litre.(Read here)
09 Jun 2021, 08:27:11 AM IST
China May PPI +9.0% y/y, CPI up 1.3%
China's factory gate prices increased at the fastest pace since September 2008, official data showed on Wednesday, while consumer inflation also accelerated but at a slower-than-expected rate.
The producer price index (PPI) rose 9.0% from a year earlier in May, according to a statement from the National Bureau of Statistics. Analysts in a Reuters poll had expected the PPI to rise 8.5% after a 6.8% increase in April.The consumer price index (CPI) rose by 1.3% from a year earlier, the statistics bureau said. Analysts in the poll had expected the CPI to rise 1.6% after a 0.9% increase in April. (Reuters)
09 Jun 2021, 08:16:42 AM IST
Bitcoin price continues to fall; ether, dogecoin plunge over 8%
Cryptocurrencies prices continued to fall after the US Internal Revenue Service (IRS) called for lawmakers to provide authority for tighter reporting rules on crypto transfers. Bitcoin fell as much as below $32,000 mark in the last 24 hours while other digital coins like ether and dogecoin also declined.
Bitcoin was trading at around $32,600 level, down over 3% according to CoinDesk's data. The world's largest cryptocurrency has slumped by half since hitting a record of almost $65,000 in April. Ethereum prices dived 8% to hover below $2,500 while Dogecoin was trading at $0.31. Other cryptocurrencies like XRP, Litecoin also fell more over 4% in the last 24 hours.
09 Jun 2021, 08:06:05 AM IST
JSW Steel sues top US competitors for metal ‘conspiracy’
India-based JSW Steel Ltd. claims three of the largest American steelmakers conspired to stifle competition by refusing to sell raw metal to its U.S. pipe and plate-making operations after the Trump administration imposed imports on cheaper foreign supplies. US Steel Corp., Nucor Corp. and Cleveland-Cliffs Inc. control more than 80% of domestic steelmaking capacity and conspired to cause direct harm to JSW, according to a lawsuit filed Tuesday in Houston federal court. (Read here)
09 Jun 2021, 07:58:40 AM IST
Sona BLW Precision IPO to debut 14 June
The initial public offering (IPO) of Sona BLW Precision Ltd, or Sona Comstar, an automotive component manufacturer, backed by private equity firm Blackstone Group, will open on 14 June. Price band for the issue has been fixed at ₹285-291 per share. The issue will close on 16 June.
09 Jun 2021, 07:43:51 AM IST
Mixed opening for Asian markets
Most Asian stocks edged lower Wednesday after U.S. equities treaded water near a record ahead of key data on price pressures in the global economy. Benchmark 10-year U.S. Treasuries held an advance.Shares slipped in Japan and Hong Kong and fluctuated in China, where surging commodity costs drove factory-gate inflation to its highest level since 2008. U.S. equity contracts were little changed after the S&P 500 ended just shy of its May 7 record close. A slide in biotech stocks after Monday’s rally offset gains in megacap technology shares.
S&P 500 futures were flat as of 10:54 a.m. in Tokyo. The index rose less than 0.1%
Nasdaq 100 futures were little changed. The gauge climbed less than 0.1%
Japan’s Topix index fell 0.2%
Australia’s S&P/ASX 200 index rose 0.1%
South Korea’s Kospi index fell 0.2%
Hong Kong’s Hang Seng index slipped 0.1%
China’s Shanghai Composite index fell 0.1%
SGX Nifty was up 0.01%
09 Jun 2021, 07:33:13 AM IST
Wall Street sees mixed close amid lack of clear catalyst
Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.
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