Market Live Updates Today: Trends on SGX Nifty indicate a cautious opening for the broader index in India with a gain of 16 points.
image for illustrative purpose
On March 21, the BSE Sensex was down 571 points at 57,292, after gaining 4 percent in the previous week, weighed down by banking & financials, auto, FMCG and IT stocks. The Nifty50 plunged 169 points to 17,118 and formed Bearish Engulfing pattern on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 17,025, followed by 16,932. If the index moves up, the key resistance levels to watch out for are 17,282 and 17,446.
US Markets
US stocks declined broadly while oil prices and Treasury yields pushed higher on Monday as investors refocused on risks from conflict in Ukraine and the US Federal Reserve's actions on inflation.
The Dow Jones Industrial Average fell 201.94 points, or 0.58%, to 34,552.99, the S&P 500 lost 1.94 points, or 0.04%, to 4,461.18 and the Nasdaq Composite dropped 55.38 points, or 0.4%, to 13,838.46.
Asian Markets
Shares in Asia-Pacific rose in Tuesday morning trade, though shares of China Eastern Airlines in Hong Kong fell after the carrier's Boeing 737 passenger jet crashed in southern China on Monday.
Japanese stocks led gains regionally, with the Nikkei 225 jumping 1.56% while the Topix index climbed 1.31%. Mainland Chinese stocks were mixed, as the Shanghai composite sat fractionally higher while the Shenzhen component dipped 0.449%. South Korea's Kospi advanced 0.7%. In Australia, the S&P/ASX 200 gained 1.17%.
SGX Nifty
Trends on SGX Nifty indicate a cautious opening for the broader index in India with a gain of 16 points. The Nifty futures were trading around 17,167 levels on the Singaporean exchange.
Live Updates
- 22 March 2022 9:23 AM IST
FII and DII data
After buying in two consecutive sessions, foreign institutional investors (FIIs) resumed selling again as they have net sold shares worth Rs 2,962.12 crore, while domestic institutional investors (DIIs) have net bought shares worth Rs 252.91 crore on March 21, as per provisional data available on the NSE.
- 22 March 2022 9:23 AM IST
Corrtech International files draft papers with Sebi to raise funds via IPO
Corrtech International, a pipeline laying solutions provider, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue comprises fresh issuance of equity shares worth Rs 350 crore and an offer for sale of 40 lakh shares by promoters, draft red herring prospectus (DRHP) filed with Sebi showed.
- 22 March 2022 9:22 AM IST
Sebi levies Rs 15 lakh fine on 3 entities in illiquid stock options case on BSE
Capital markets regulator Sebi on March 21 imposed penalties totalling Rs 15 lakh on three entities for indulging in non-genuine trades in illiquid stock options on BSE. In three separate orders, the regulator levied a fine of Rs 5 lakh each on Sanjay Bansal, Abhishek Sheth HUF, and Abhishek Mall.
The orders came after Sebi observed large scale reversal trades in the stock options segment of BSE, leading to the creation of artificial volumes. In view of the same, the Securities and Exchange Board of India (Sebi) had conducted an investigation into the trading activities of certain entities engaged in illiquid stock options on BSE from April 2014 to September 2015.
- 22 March 2022 9:22 AM IST
Fed will raise rates more aggressively if needed, Powell says
Federal Reserve Chair Jerome Powell on Monday delivered his most muscular message to date on his battle with too-high inflation, saying the central bank must move "expeditiously" to raise rates and possibly "more aggressively" to keep an upward price spiral from getting entrenched.
In remarks that sent financial markets scrambling to recalibrate for a higher probability of the Fed lifting interest rates by a half-percentage point at one or more of its remaining meetings this year, Powell signaled an urgency to the central bank's inflation challenge that was less visible than just a week ago, when the Fed delivered its first rate hike in three years.
"The labor market is very strong, and inflation is much too high," Powell told a National Association for Business Economics conference. "There is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level, and then to move to more restrictive levels if that is what is required to restore price stability."
- 22 March 2022 9:21 AM IST
Don't foresee India facing sanctions, but RBI's forex reserves well-diversified: RBI Governor
The Reserve Bank of India's (RBI) foreign exchange reserves are "well dispersed" and diversified, Governor Shaktikanta Das said on March 21, rejecting concerns about the central bank being crippled if the country faced sanctions similar to Russia in the future.
"Our reserves are quite well dispersed. And I don't foresee a situation whereby India will ever face a sanction situation. We are a democratic country. Rule of law prevails. And India doesn't have any expansionary ambitions. This is something which I think the government has stated. These are not my words... I am just quoting what the Prime Minister said last year in Ladakh," Das said in an interaction with members of the Confederation of Indian Industry (CII).
- 22 March 2022 9:21 AM IST
Oil rallies as EU debates possible ban on Russian crude imports
Oil surged for a fourth day, heading for the best run in a month, on signs the European Union may be edging closer to a ban on Russian crude imports to punish Moscow for its invasion of Ukraine.
West Texas Intermediate rallied toward $115 a barrel after surging 18% over the previous three days. Josep Borrell, the EU’s foreign policy chief, said that he expects leaders to discuss, but probably not yet approve, further sanctions against Russia when they meet in Brussels later this week.
