Market Live Updates Today: The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 53 points gain
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The benchmark indices ended at record closing high with the BSE Sensex climbing 393.83 points to 49,792.12 on January 20 while the Nifty50 jumped 123.50 points to 14,644.70.
According to pivot charts, the key support levels for the Nifty are placed at 14,552.63, followed by 14,460.57. If the index moves up, the key resistance levels to watch out for are 14,701.63 and 14,758.57.
U.S. stocks closed at record highs on Wednesday as Joe Biden was sworn in as the 46th U.S. president, while solid results from Netflix sparked a rally in shares of "stay-at-home" beneficiaries.
The Dow Jones Industrial Average rose 257.86 points, or 0.83%, to 31,188.38, the S&P 500 gained 52.94 points, or 1.39%, to 3,851.85 and the Nasdaq Composite added 260.07 points, or 1.97%, to 13,457.25.
Asian markets were set to rise on Thursday after U.S. stocks closed at record highs on hopes that newly inaugurated U.S. President Joe Biden would put in place further economic stimulus to offset damage wreaked by the COVID-19 pandemic.
Live Updates
- 21 Jan 2021 9:07 AM IST
Indian insurers’ growth to rebound backed by health, protection business
The Indian insurance sector will see growth rebounding in 2021 lead by growth in the health and protection segments, according to a report by Moody’s Investors Service. Mohammed Ali Riyazuddin Londe, Vice President-Senior Analyst, Financial Institutions, Moody’s Investors Service told in an interaction that this is not a one-off growth as far as health insurance is concerned.
- 21 Jan 2021 9:07 AM IST
Housing sales demand rises 78% in December quarter on pent-up demand
Total sales of home units in top seven cities across the country increased by 78 percent in Q4 2020 to 110,811 units versus 62,197 units in Q3 2020 on the back of pent-up demand and increased sales during the festive season. Sales in the fourth quarter of 2020 versus the same quarter in 2019 also increased by 25 percent, a report by PropEquity, a real estate data, research and analytics firm said.
- 21 Jan 2021 9:06 AM IST
Oil rises on U.S. stimulus hopes, tighter market under Biden
Oil edged higher on Wednesday on expectations that U.S. President Joe Biden’s administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten crude supply.
Brent crude settled at $56.08 a barrel, gaining 18 cents. U.S. West Texas Intermediate (WTI) crude settled at $53.24 a barrel, climbing 26 cents.
