Market Live Updates Today: The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the index in India with a 142 points loss.
The BSE Sensex fell 598.57 points or 1.16 percent to 50,846.08 on March 4 while the Nifty50 shed 164.80 points or 1.08 percent to 15,080.80.
image for illustrative purpose
The BSE Sensex fell 598.57 points or 1.16 percent to 50,846.08 on March 4 while the Nifty50 shed 164.80 points or 1.08 percent to 15,080.80.
According to pivot charts, the key support levels for the Nifty are placed at 14,973.23, followed by 14,865.67. If the index moves up, the key resistance levels to watch out for are 15,195.33 and 15,309.87.
Wall Street ended sharply lower on Thursday, leaving the Nasdaq down nearly 10% from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields.
The Dow Jones Industrial Average fell 1.11% to end at 30,924.14 points, while the S&P 500 lost 1.34% to 3,768.47. The Nasdaq Composite dropped 2.11% to 12,723.47.
Asian stocks skidded on Friday as rising U.S. Treasury yields again rattled equity investors while hoisting the dollar to a three-month high, which in turn dragged the Japanese yen to an eight-month trough.
In early Friday trade, Australian stocks shed 1%, Japan's Nikkei share average lost 0.7%, shares in Seoul fell 0.24% and E-Mini S&P futures were a touch lower at 0.04%.
Live Updates
- 5 March 2021 2:35 PM IST
How Byju's plans to go global
Will 2021 be the year when Byju's goes global? Which countries will it look at first ? Listen in to Byju's co-founder Divya Gokulnath in this exclusive interview with Chandra R Srikanth
- 5 March 2021 2:35 PM IST
Heranba Industries has a stellar debut, share jumps 51%: what should investors do?
Astha Jain of Hem Securities is positive on the long-term prospects of the company, which is a leading domestic producer of synthetic pyrethroids and has shown strong financial performance.
- 5 March 2021 2:34 PM IST
75% local reservation in private jobs will derail Haryana's economic growth
The new law threatens to scuttle the Haryana growth story and betrays the dangerously flawed understanding of the political class regarding economic growth and cities
- 5 March 2021 2:34 PM IST
Bank privatisation: Talks between unions, government draw a blank ahead of two-day strike
The decision to privatise two state-owned banks was announced in the Union Budget 2021. The two sides will meet again on March 9.
- 5 March 2021 2:33 PM IST
SC disposes petition to extend GST amnesty scheme
The bench further highlighted that the scheme was “policy intervention" by the government and that “the terms on which the amnesty scheme was executed is in the realm of a policy decision."
- 5 March 2021 8:56 AM IST
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 223.11 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 788.19 crore in the Indian equity market on March 4, as per provisional data available on the NSE.
- 5 March 2021 8:56 AM IST
US weekly jobless claims increase less than expected
The number of Americans filing new claims for unemployment benefits rose last week, likely boosted by brutal winter storms in the densely populated South in mid-February, though the labor market outlook is improving amid declining new COVID-19 cases.
Initial claims for state unemployment benefits totaled a seasonally adjusted 745,000 for the week ended Feb. 27, compared to 736,000 in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 750,000 applications in the latest week.
- 5 March 2021 8:55 AM IST
Sebi puts in place procedure for change incontrol of AMCs
Markets regulator Sebi has put in place a procedure for change in controlling interest of asset management companies and issued guidelines for new sponsors of mutual funds. This comes after Sebi, in February, relaxed profitability criteria for becoming a mutual fund sponsor with a view to facilitating innovation and expansion in the mutual funds sector.
In case the applicant proposing to take the control of an AMC is not an existing sponsor of a mutual fund registered with Sebi, it would have to apply to the regulator for approval of taking over control of an existing AMC.
Sebi said the new sponsor will have to give an undertaking to the regulator as well as unitholders taking full responsibility of the management and the administration of the schemes, including matters relating to the reconciliation of accounts.
- 5 March 2021 8:55 AM IST
Oil scales 1-year peak as OPEC+ rolls over output for April
Oil rallied more than 4% on Thursday, hitting its highest in over a year, after OPEC and its allies agreed to keep production unchanged into April, reasoning that the demand recovery from the coronavirus pandemic was still fragile.
Brent crude rose $2.67, or 4.2%, to settle at $66.74 a barrel, after rising to $67.75, its highest since January 2020.
- 5 March 2021 8:54 AM IST
China sets 2021 GDP growth target at more than 6%
The Chinese government has set its 2021 economic growth target at more than 6%, Premier Li Keqiang said in his annual work report on Friday at the opening of this year’s meeting of parliament.
China did not set a gross domestic product target last year due to uncertainties arising from the pandemic. The government has set its 2021 target for consumer price inflation at around 3% and its budget deficit goal of around 3.2% of GDP, Li said.
