Market Live Updates Today: SGX Nifty indicate a negative opening for the broader index in India with a loss of 71 points.
image for illustrative purpose
The BSE Sensex jumped 817 points to 55,464 while the Nifty climbed 249 points to 16,595 and formed Bearish Belt Hold candle on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 16,443 followed by 16,291. If the index moves up, the key resistance levels to watch out for are 16,752 and 16,909.
US Markets
Wall Street resumed its slide on Thursday, ending in the red as inflation hit a four-decade high, cementing expectations that the US Federal Reserve would hike key interest rates at the conclusion of next week's monetary policy meeting to prevent the economy from overheating.
The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.
Asian Markets
Shares in Asia-Pacific slipped in Friday morning trade, tracking losses on Wall Street as the Russia-Ukraine war continues to keep investors cautious.
The Nikkei 225 in Japan fell more than 1% in early trade, shedding some of its nearly 4% gain on Thursday. The Topix index slipped 1.23%. In South Korea, the Kospi dipped 0.78%. Australia's S&P/ASX 200 climbed 0.4% in morning trade.
Live Updates
- 11 March 2022 9:00 AM IST
FII and DII data
Foreign institutional investors (FIIs) seem to have turned less aggressive in selling as they sold shares worth Rs 1,981.15 crore on March 10, against Rs 4,818.71 crore worth of shares sold in previous session. However, domestic institutional investors (DIIs) bought shares worth Rs 945.71 crore on the same day, as per provisional data available on the NSE.
- 11 March 2022 8:59 AM IST
Sebi levies Rs 15 lakh fine on 3 entities in illiquid stock options case
ital markets regulator Sebi on Thursday imposed a total of Rs 15 lakh fine on three entities for indulging in non-genuine trades in stock options on BSE. In three separate orders, the regulator slapped a fine of Rs 5 lakh each on Priti Sultania, Deepa Hirani and Vivek Rungta HUF.
The orders came after Sebi observed large scale reversal trades in the stock options segment of BSE, leading to the creation of artificial volume in the segment. Consequently, it conducted an investigation into the trading activity from April 2014 to September 2015.
- 11 March 2022 8:59 AM IST
Japan January household spending rises for first time in 6 months
Japanese household spending rose for the first time in six months in January on a year-on-year basis, largely because of weakness in the prior year, even as the fast spread of the COVID-19 Omicron variant likely weighed on consumption later in the month.
Household spending rose 6.9% in January from a year earlier, government data showed on Friday, versus economists' median estimate of a 3.6% gain. That followed a 0.2% drop in December. The strong year-on-year reading reflected a 6.0% fall in January 2021 when COVID-19 state of emergency curbs were imposed, a government official told a media briefing.
- 11 March 2022 8:58 AM IST
Ukraine war to lower global growth forecast: IMF chief
The war in Ukraine and massive sanctions against Russia have triggered a contraction in global trade, sending food and energy prices sharply higher and forcing the International Monetary Fund to lower its global growth forecast next month, IMF Managing Director Kristalina Georgieva said on Thursday.
Georgieva told reporters the unprecedented sanctions imposed on Russia over its invasion of Ukraine had caused an abrupt contraction of the Russian economy and it faced a "deep recession" this year. She said a default by Russia on its debt was no longer seen as "improbable". The chief economist of the World Bank told Reuters this week that both Russia and Belarus were squarely in "default territory".
- 11 March 2022 8:58 AM IST
We're in a bear market globally post-correction in larger stocks: Adrian Mowat
“I believe crude prices have peaked at around $130 a barrel. The Russia-Ukraine crisis is becoming less dominant now, and focus will move to the Federal Reserve,” emerging equity markets strategist Adrian Mowat said in an interview to CNBC-TV18.
“We are into a bear market globally, post-correction in larger stocks. The risk of slow economic growth has increased,” said Mowat. “Indian equities remain quite resilient,” added Mowat. He said there is still more upside in energy stocks and expects financials to do well. “Weakness in Indian financials is overdone,” he said.
- 11 March 2022 8:57 AM IST
US inflation at fresh 40-year high, weekly jobless claims rise after consumer price surges in February
US consumer prices surged in February, culminating in the largest annual increase in 40 years, and inflation is poised to accelerate further in the months ahead as Russia's war against Ukraine drives up the costs of crude oil and other commodities.
The consumer price index increased 0.8% last month after gaining 0.6% in January, the Labor Department said on Thursday. In the 12 months through February, the CPI shot up 7.9%, the biggest year-on-year increase since January 1982. That followed a 7.5% jump in January and was the fifth straight month of annual CPI readings north of 6%.
- 11 March 2022 8:57 AM IST
Oil extends losses; Russia to fulfil supply contracts
Oil prices settled about 2% lower on Thursday after a volatile session, a day after its biggest daily dive in two years, as Russia pledged to fulfil contractual obligations and some traders said supply disruption concerns were overdone.
Brent futures fell $1.81, or 1.6%, to settle at $109.33 a barrel after gaining as much as 6.5% earlier in the session. US West Texas Intermediate (WTI) crude fell $2.68, or 2.5%, to settle at $106.02 a barrel, giving up over 5.7% of intraday gains.
