Market Live Updates Today: The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat to positive opening for the index in India with a 26 points gain
The BSE Sensex gained 35.75 points to 50,441.07 on March 8 while the Nifty50 rose 18.10 points to 14,956.20.
image for illustrative purpose
The BSE Sensex gained 35.75 points to 50,441.07 on March 8 while the Nifty50 rose 18.10 points to 14,956.20.
According to pivot charts, the key support levels for the Nifty are placed at 14,880.33, followed by 14,804.47. If the index moves up, the key resistance levels to watch out for are 15,071.63 and 15,187.07.
Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into a correction and offset stocks that rose on hopes the $1.9 trillion COVID-19 relief bill will spur the U.S. economic recovery.
The Dow hit a record intra-day high but the big tech stocks that have led Wall Street to scale successive peaks over the past year fell, with the Nasdaq closing down 2.41%. The Nasdaq is now down 10.6% from its Feb. 12 record close, or more than a 10% slide the market considers a correction.
The Dow Jones Industrial Average rose 306.14 points, or 0.97%, to 31,802.44, the S&P 500 lost 20.59 points, or 0.54%, to 3,821.35 and the Nasdaq Composite dropped 310.99 points, or 2.41%, to 12,609.16.
Asian stocks were set for a strong open on Tuesday, helped mostly by global recovery prospects and the passage of a $1.9 U.S. trillion stimulus bill, shaking off a mixed Wall Street session after a big downturn in tech shares.
Trends on SGX Nifty indicate a flat opening for the index in India with a 26 points gain. The Nifty futures were trading at 15,008 on the Singaporean Exchange around 07:30 hours IST.
Live Updates
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5 stocks under F&O ban on NSE
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Dollar reigns supreme on yields, recovery advantage
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The dollar’s index against six major currencies rose 0.1% to 92.469, its highest since late November, building on its 0.5% gains on Monday.
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FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,494 crore, whereas domestic institutional investors (DIIs) net bought shares worth Rs 484 crore in the Indian equity market on March 8, as per provisional data available on the NSE.
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Oil settles lower
Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.
Brent climbed as high as $71.38 a barrel in early Asian trade, its highest since Jan. 8, 2020. It settled down $1.12 or 1.6% at $68.24. U.S. West Texas Intermediate (WTI) crude settled down $1.04 or 1.6% at $65.05. The session high was $67.98 a barrel, its highest since October 2018.
