Market Live Updates Today: The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the index in India with a 227 points gain.
The BSE Sensex plunged 1,939.32 points, or 3.80 percent, to 49,099.99 on February 26 while the Nifty50 fell 568.20 points, or 3.76 percent, to 14,529.20.
image for illustrative purpose
The BSE Sensex plunged 1,939.32 points, or 3.80 percent, to 49,099.99 on February 26 while the Nifty50 fell 568.20 points, or 3.76 percent, to 14,529.20.
According to pivot charts, the key support levels for the Nifty are placed at 14,358.17, followed by 14,187.13. If the index moves up, the key resistance levels to watch out for are 14,809.87 and 15,090.53.
The tech-heavy Nasdaq index rallied in choppy trading on Friday, even as sentiment remained fragile after the index's worst performance in four months the day before as fears of rising inflation kept U.S. bond yields near a one-year high.
The Dow Jones Industrial Average closed 469.64 points lower, or 1.5%, to 30,932.37, the S&P 500 lost 18.19 points, or 0.48%, to 3,811.15 and the Nasdaq Composite added 72.91 points, or 0.56%, to 13,192.34.
Asian shares firmed on Monday as some semblance of calm returned to bond markets after last week's wild ride, while progress in the huge U.S. stimulus package underpinned optimism about the global economy.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1%, after shedding 3.7% last Friday. Japan's Nikkei rallied 2.0%, while NASDAQ futures bounced 0.8% and S&P 500 futures 0.7%.
Live Updates
- 1 March 2021 8:47 AM IST
Real estate sector sees improvement in October-December quarter on rise in demand
India's GDP growth numbers, released on February 26 by the Central Statistics Office, have shown that whilst the overall economy has shown a growth of 0.4 percent year-on-year for the third quarter, the construction and financial, real estate and professional services have shown a growth of 6.2 percent and 6.6 percent, respectively during the period, placing them among the top three contributors to the GDP.
“The latest GDP numbers released by the Indian government reinforce the optimism that prevails in businesses that the worst has passed for the Indian economy and that we are now on a recovery and growth path. This performance underscores the need for support to the construction and real estate industries to ensure that that they continue contributing to nation building,” said Sankey Prasad, FRICS, chairman and managing director (India) at Colliers.
- 1 March 2021 8:47 AM IST
India's economy returns to growth after shrinking for two quarters
India’s economy returned to growth in its fiscal third quarter after a recession earlier in 2020 and the recovery is expected to gather pace as consumer demand and investments shake off the effects of the pandemic, economists said.
Gross domestic product grew 0.4% in October-December compared with the same period a year earlier, data released by the National Statistics Office on Friday showed. That compared with revised contractions of 7.3% in July-September and 24.4% in April-June.
