Stock Market LIVE: Sensex, Nifty likely to open higher today

On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.

Here's a look at the latest updates of the market action on BSE and NSE today.

9:05 am: Global updates

Big Tech gave major US stock indexes a boost on Tuesday and European shares ended largely unchanged as a sharp fall in oil prices took the shine off bumper profits from oil company BP.

The Dow Jones Industrial Average rose 1.06 percent to end at 35,462.78 points. The S&P 500 gained 0.84 percent to 4,521.52. The Nasdaq Composite climbed 1.28 percent to 14,194.46.

In Asia, the Nikkei Weighted index was up 0.90 per cent and Hang Seng was trading 1.87 per cent higher. Shanghai Composite was up 0.33 per cent.

8:55 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Benchmark Indices are expected to open on a flat to positive note as suggested by trends on SGX Nifty. US stock markets closed in green as Big Tech gave major US stock indexes a boost on Tuesday. NASDAQ was up by 1.21% to 14194.46 levels. European shares ended largely unchanged as a sharp fall in oil prices took the shine off bumper profits from oil company BP. Asian markets are trading on a higher side as investors in the region are expecting a positive outlook on central bank policy. Nikkei gained 0.83%, Topix index up by 0.8%

Oil prices nudged up on Wednesday following two sessions of losses after industry data showed an unexpected drop in US crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran.

Results today: Power Grid Corporation of India, Tata Power, ACC, Bosch, FSN E-Commerce Ventures (Nykaa), Aurobindo Pharma, Berger Paints, 3i Infotech, Abbott India, Aries Agro, BASF India, Bharat Bijlee, DCB Bank, Engineers India, Entertainment Network (India), Finolex Cables, GMR Infrastructure, HEG, Indiabulls Housing Finance, Jindal Stainless (Hisar), Lumax Auto Technologies, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Patel Engineering, Petronet LNG, Procter & Gamble Health, Hitachi Energy India, Prestige Estates Projects, Pricol, SAIL etc.

On the technical front 17,045 and 17,350 are immediate support and resistance in Nifty50. For Bank Nifty 37,300 and 38,500 are immediate support and resistance respectively.

8:40 am: Rupee update

The rupee declined 5 paise to close at 74.74 (provisional) against the U.S. dollar on February 8, tracking the strength of the American currency in the overseas market and elevated crude oil prices.

At the interbank foreign exchange, the rupee opened at 74.65 against the American dollar, and later witnessed an intra-day high of 74.57 and a low of 74.80 against the greenback.

The local unit finally ended the day at 74.74, down 5 paise from the previous close.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,967.89 crore on February 7, and domestic institutional investors (DIIs) bought shares worth Rs 1,115 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a positive note as SGX Nifty was up 46 points at 17,325.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Tuesday

The Indian equity market snapped three day of losing streak in volatile trade on Tuesday.

After a see-saw session, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1937 points and Nifty fell 567 points.

Tata Steel was the top Sensex gainer, rising 3.10 per cent today, followed by Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints and Titan.

PowerGrid, TCS, Tech Mahindra and HDFC twins were among the top Sensex losers, shedding up to 1.66 per cent. Of 30 Sensex stocks, 19 closed higher.

BSE mid-cap and small-cap indices fell 109 points and 412 points, respectively.