Share Market Live Updates: SGX Nifty indicates a negative start for Sensex, Nifty

On Wednesday, the benchmark indices rose for the fourth straight session led by strong gains in banking and financial stocks amid a supportive trend in European equities.

Here are all the live updates from Dalal Street!

9:10 am: Market at Pre-open

The benchmark indices were trading sharply lower in the pre-open session. Sensex was trading 415 points lower at 59,807.80 and Nifty was down 156 points at 17,768.

8:50 am: Pre-Market Comment by Mohit Nigam, Head - PMS, Hem Securities

Benchmark Indices are expected to open on a negative note as suggested by trends on SGX Nifty. The American Market ended negative while the European market closed positive on the previous trading day.  

US market fell more than 3% yesterday after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected. 

We can see movement in Jet Airways as the company stated that Captain Sudhir Gaur has resigned as the Interim CEO. The Reserve Bank of India may defer plans to increase policy rates to the next financial year starting April to avoid a potential hit on the economy, as the rapid spread of the Omicron variant has already led to pandemic curbs in several states that will crimp economic activity.

On the technical front, Nifty's immediate support and resistance can be 17,600 and 18,200 respectively. While for Bank Nifty 37,300 and 38,200 may act as immediate support and resistance.

8:45 am: Rupee jumps 23 paise

The rupee surged 23 paise to close at 74.35 against the US dollar on Wednesday, tracking gains in domestic equity markets.

At the interbank forex market, the local unit opened up at 74.54 against the greenback and witnessed an intra-day high of 74.30 and a low of 74.55. It finally settled at 74.35, a rise of 23 paise over its previous close.

8:40 am: Global Markets

U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.

On Wall Street, the S&P 500 ended 92.9 points lower at 4,700.58, the Nasdaq Composite declined 522.54 points to 15,100.17 and the Dow Jones fell 392.5 points to 36,407.11.

In Asia, Nikkei 225 was down 2.08 per cent and Hang Seng was trading 0.82 per cent lower. Shanghai Composite was down 0.75 per cent too.
 

8:35 am: FII and DII action

Foreign institutional investors (FIIs) bought shares worth Rs 336.83 crore on January 5, and domestic institutional investors (DIIs) purchased shares worth Rs 1,271.95 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a negative note as SGX Nifty was down 94 points to 17,803.20 at 8:30 am.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday

Benchmark indices rose for the fourth straight session led by strong gains in banking and financial stocks amid a supportive trend in European equities.

Sensex zoomed 367 points to reclaim the 60,000-mark. The index ended 0.61 per cent higher at 60,223. Nifty rose 120 points to 17,925.

Bajaj Finserv was the top Sensex gainer, rising 5.09 per cent, followed by Bajaj Finance, Kotak Bank, Axis Bank, Tata Steel, HDFC Bank, Asian Paints and ICICI Bank.

Tech Mahindra, Infosys, HCL Tech, Wipro and PowerGrid were among the top Sensex losers, falling up to 2.87%.

Market cap of BSE-listed firms rose to Rs 272.44 lakh crore.