Market Live Updates Today: The Indian stock market is expected to open on a positive note as trends on SGX Nifty indicate a positive opening for the index in India with a 16 points gain.
The BSE Sensex closed above the psychological mark of 50,000, rising 447.05 points to 50,296.89 on March 2. Nifty jumped 157.60 points, or 1.07 percent, to 14,919.10.
image for illustrative purpose
The BSE Sensex closed above the psychological mark of 50,000, rising 447.05 points to 50,296.89 on March 2. Nifty jumped 157.60 points, or 1.07 percent, to 14,919.10.
According to pivot charts, the key support levels for the Nifty are placed at 14,800.23, followed by 14,681.37. If the index moves up, the key resistance levels to watch out for are 14,998.53 and 15,077.97.
Wall Street ended lower on Tuesday, pulled down by Apple and Tesla, while materials stocks climbed as investors waited for the US Congress to approve another stimulus package.
The Dow Jones Industrial Average fell 0.46% to end at 31,390.47 points, while the S&P 500 lost 0.81% to 3,870.36. The Nasdaq Composite dropped 1.69% to 13,358.79.
Asian shares edged higher on Wednesday as investors shrugged off concerns that stocks may have rallied too far too fast in the past year, and focused instead on optimism that more imminent U.S. stimulus will energise the global economic recovery.
Live Updates
- 3 March 2021 8:55 AM IST
Spectrum auction ends with bids worth Rs 77,815 crore, Jio becomes biggest buyer
The 4G telecom spectrum auction 2021 ended on March 2 with the government receiving bids worth Rs 77,814.80 crore. Bids worth Rs 668. 20 crore were made on the second day of the auction, which saw bids worth Rs 77,146 crore on the first day.
Reliance Jio emerged as the biggest buyer by acquiring a total of 488.35 MHz of spectrum for Rs 57,122.65 crore, followed by Bharti Airtel with 355.45 MHz at Rs 18,698.75 crore, and Vodafone Idea with 11.80 MHz for Rs 1,993.40 crore, Telecom Secretary Anshul Prakash said. The secretary said out of 2308.80 MHz of spectrum put for auction, the government has received bids for 855.60 MHz.
The 2300 MHz band turned out to be the most sought after with 89.29 percent spectrum being sold. Of 560 MHz spectrum put for auction under the 2300 MHz band, 500 MHz found takers, the Ministry of Communications said in a statement.
