Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock indices have started the year with gains as Sensex, Nifty and broader markets jumped on Monday. S&P BSE Sensex added 929 points or 1.6% to close at 59,183 while the NSE Nifty 50 index gained 271 points or 1.57% to end at 17,625. Entering the second trading session of the week, SGX Nifty was trading flat, hinting at a muted start for domestic equities. Meanwhile, global cues were largely positive. NASDAQ zoomed 1.2% on Monday, followed by Dow Jones and S&P 500 while in Asia Nikkei 225, TOPIX, and HANG SENG were up in the green. South Korean equity indices and Shanghai Composite were in the red.
India’s recovering economy is facing a tough time to provide for job-seekers, data from the Centre for Monitoring Indian Economy (CMIE) shows. India’s unemployment rate rose to a four-month high of 7.91% in December, CMIE data showed. The spike in unemployment comes even before the Omicron variant has spread far and wide in the country. As per the CMIE data, both urban and rural areas contributed to the spike in the rate of joblessness during December. The all-India unemployment rate was 7.75% in October and 7% in November.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol, diesel prices continue to remain the same today (January 4) across the country. Petrol rate in Delhi stands at Rs 95.41 per litre while diesel in he capital is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel is retailing at Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs. Public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
BSE Sensex and Nifty 50 were likely to open on a tepid note on Tuesday, after the benchmark indices ushered in the new year with stellar gains in the previous session. Nifty futires were trading 7.50 points down at 17,690 on Singaporean Exchange in the early trade. On Monday, S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Technical analysts say that Nifty 50 index shows positive indication and further upside in the short term can be expected.
“The index has marched forward gallantly and is all set to move up higher. As expected on Friday, we have achieved the target of 17600. We should now be headed to 17850 as the next level of resistance. Post that 18050 would be the next possible target for the Nifty. Since we are in positive terrain, any drop or intra day dip can be utilized to accumulate buy positions for higher targets.”
~ Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
“We remain optimistic and expect Nifty to deliver around 12-15% returns in 2022, supported by the continuation of economic recovery and strong earnings growth. After the recent correction, Nifty is now trading at ~20x 12 month forward PE which is no longer in the expensive zone. While the market trend might be volatile in the near term on account of potential risk from Omicron variant and fragile global cues, in the long run, strong earnings delivery along with positive macro-economic data would hold the key to drive markets upwards.”
~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
SGX Nifty was trading flat with a negative bias on Tuesday morning. Nifty futures trading flat hint at a muted start to the day's trade in Dalal Street.
Even before the third Covid wave, potentially to be dominated by the Omicron variant of the virus, began, the country’s unemployment rate spiked, mirroring the inability of a slowly recovering economy to address the increasing demand for jobs.
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