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
- 9 March 2021 9:06 AM IST
SEBI orders to attach bank, demat accounts of entities to recover Rs 3.24 crore dues
Markets regulator SEBI has ordered attachment of bank as well as share and mutual fund holdings of six entities to recover dues of Rs 3.24 crore in the case of erstwhile Bank of Rajasthan.
The recovery proceedings have been initiated against the entities after they failed to pay the Rs 3 crore fine imposed on them by SEBI in May 2020 in the case of alleged insider trading in the shares of erstwhile Bank of Rajasthan.
The entities are - Premkumar Gupta, Navin Kumar Tayal, Jyotika Sanjay Tayal, Advik Textiles & Realpro Pvt Ltd, Kulwinder Kumar Nayyar and Azam Mohammed Ashan Shaikh.
- 9 March 2021 9:05 AM IST
Japan downgrades fourth-quarter GDP as companies scale back spending
Japan’s economy expanded at a slower-than-initially-reported pace in October-December, with firms tightening spending on plant and equipment and sharply cutting inventories as the coronavirus pandemic hit demand.
The economy grew an annualised 11.7% in October-December, weaker than the preliminary reading of 12.7% annualised growth to mark the second straight quarter of growth, Cabinet Office data showed Tuesday.
- 9 March 2021 9:04 AM IST
Sebi tweaks framework on Unique Client Code, PAN
Market regulator Sebi on Monday rationalised the compliance requirement of collecting and maintaining copies of PAN of clients by members of the exchanges having commodity derivatives segment and enhanced the use of e-PAN. In the Union budget 2020, launch of instant PAN facility was announced and subsequently, Income Tax (IT) Department launched the facility of e-PAN which is generated instantly through Aadhaar-based e-KYC.
In a circular, Sebi has tweaked provisions related to Unique Client Code (UCC) and mandatory requirement of Permanent Account Number (PAN). The regulator said it would be mandatory for the members of the exchanges, having commodity derivatives segment, to use UCC for all clients transacting on the commodity derivative segment.
- 9 March 2021 8:58 AM IST
NCLT has jurisdiction to adjudicate disputes solely relating to insolvency of corporate debtor
The Supreme Court on Monday held that the NCLT has jurisdiction to adjudicate disputes, which arises solely or relates to the insolvency of a corporate debtor. The top court, however, cautioned the National Company Law Tribunal (NCLT) and its appellate tribunal (NCLAT) to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and forum, when the dispute is not related to the insolvency of the Corporate Debtor.
Dismissing the appeal, the top court said that the institutional framework under the Insolvency and Bankruptcy Code (IBC) contemplated the establishment of a single forum to deal with matters of insolvency, which were distributed earlier across multiple fora.
