PremiumShare Market LIVE Updates: Indian indices opened higher on Thursday, but soon gave up the gains amid a broad-based sell-off. Midcap and small-cap indices also slipped into the red. Nifty IT was the biggest laggard among all sectors
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Key Indian indices were in the green at open but soon turned flat amid mixed global cues. Sensex opened at 61,558 and hit a high of 61,621 and a low of 61,164. Nifty opened above 18,350 but later slipped below 18,300. Asian stocks were a tad higher on Thursday as investors weighed corporate earnings
"The index is very close to its support level of 18200. If we need to bounce, this should be the level from where it could happen. Else, the Nifty would enter into a consolidation phase for a couple of days before a direction sets in. Until we do not break 18200, the focus should be on looking for avenues to buy this market."
Fuel prices hit fresh all-time highs on Thursday following a surge in global crude oil rates. In the national capital, petrol and diesel rates soared 35 paise to cost ₹106.54 and ₹95.27 per litre respectively, according to Indian Oil Corporation.
In Mumbai, a litre of petrol now costs ₹ 112.44, and diesel is sold at ₹ 103.26. Petrol prices in Chennai breached the ₹ 103 per litre mark and is currently sold at ₹ 103.26 per litre. In Kolkata, a litre of petrol now costs ₹107.12, and diesel is sold at ₹98 per litre
Yes Bank Ltd is finalizing the paperwork to sue satellite television operator Dish TV India Ltd over its refusal to hold a special shareholders meeting, three people aware of the matter said.
The private lender, Dish TV’s largest shareholder with a 25.63% stake, will ask the National Company Law Tribunal (NCLT) to direct the company to either share shareholder details so it can call the meeting on its own, or instruct it to set a date for an extraordinary general meeting (EGM), the people cited above said on condition of anonymity. (Read more)
Fully vaccinated travellers coming from a country with which India has reciprocal arrangements for acceptance of covid-19 jabs approved by the World Health Organization (WHO) will be allowed to leave the airport without a further covid-19 test and won’t require home quarantine, according to updated guidelines issued on Wednesday. However, they would need to produce a negative RT-PCR test report and self-monitor their health for 14 days after arrival.
The guidelines concern countries that have an agreement with India on mutual recognition of vaccination certificates of nationally recognized or WHO recognized vaccines. They also cover countries that don’t have such an agreement with India, but exempt Indian citizens fully vaccinated with nationally recognized or WHO recognized vaccines. Travellers from UK, South Africa, Brazil, Bangladesh, Botswana, China, Mauritius, New Zealand and Zimbabwe are among those who would need to follow additional measures on arrival in India, including post-arrival testing.
Oil prices rose on Thursday to extend gains from the previous session as U.S. crude and fuel inventories tightened further, with supplies of gasoline hitting a two-year low, pointing to strong demand.
Brent crude futures climbed 17 cents, or 0.2%, to $85.99 a barrel at 0040 GMT, after rising 0.9% the previous day. U.S. West Texas Intermediate (WTI) crude futures for December gained 37 cents, or 0.4%, to $83.79 a barrel.
Reliance, PNB Housing, Dish TV, and Future group stocks will be in focus on Thursday. Among major companies, Asian Paints, JSW Steel, ICICI Lombard General Insurance, Mphasis, IDBI Bank, Macrotech Developers, Concor, Biocon, TVS Motor and Indian Hotels will release their September quarter results today.
Markets are likely to stay volatile on Thursday while trends in SGX Nifty indicate a green opening for Indian benchmark indices. On Wednesday, the BSE Sensex ended at 61,259.96, down 456.09 points or 0.74% and the Nifty was at 18,266.60, down 152.15 points or 0.83%. BSE Midcap and Smallcap indices fell nearly 2%.
Asian stocks were mixed Thursday as investors weighed corporate earnings, elevated inflation and risks from China’s property sector.
Stocks dipped in Japan and fluctuated in China and Hong Kong. U.S. futures wavered.
Most stock indexes worldwide rose on Wednesday and the Dow Jones Industrial Average touched a record intraday high as more companies reported earnings that beat analysts' expectations.
The Dow Jones Industrial Average rose 152.03 points, or 0.43%, to 35,609.34, the S&P 500 gained 16.56 points, or 0.37%, at 4,536.19 and the Nasdaq Composite dropped 7.41 points, or 0.05%, to 15,121.68.
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