Market Live Updates Today: Trends on SGX Nifty indicate a cautious opening for the index in India with a 16-points gain.
image for illustrative purpose
The BSE Sensex rallied 662.63 points or 1.16 percent to 57,552.39, while the Nifty50 jumped 201.20 points or 1.19 percent to 17,132.20 and formed a bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 16,980.83, followed by 16,829.47. If the index moves up, the key resistance levels to watch out for are 17,218.53 and 17,304.87.
US Markets
Wall Street's main indexes hovered near record highs on Tuesday despite weakness in technology stocks, with the S&P 500 heading for a seventh straight month of gains as fears ebbed over near-term policy tightening by the Federal Reserve.
The Dow Jones Industrial Average rose 37.18 points, or 0.11%, to 35,437.02, the S&P 500 fell 0.25 points, or 0.01%, to 4,528.54, and the Nasdaq Composite lost 18.41 points, or 0.12%, to 15,247.48.
Asian Markets
Asian shares gave up some of their recent gains in cautious trading on Wednesday while the dollar inched back from three-week lows, as worries about slowing global growth in several markets returned to weigh on traders' minds.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.40%. Japan's Nikkei gained 0.89% while Australian shares fell 0.58%.
SGX Nifty
Trends on SGX Nifty indicate a cautious opening for the index in India with a 16-points gain. The Nifty futures were trading at 17,141 on the Singaporean Exchange around 07:30 hours IST.
The gross value added (GVA) at basic prices in 2011-12 prices in April-June this year stood at Rs 30,47,516 crore, lower by 13 percent compared to Rs 35, 15,963 crore in the last quarter (January-March) of 2020-21. The GVA at basic prices in 2011-12 prices in April-June this year stood at Rs 30,47,516 crore, lower by 13 percent compared to Rs 35, 15,963 crore in the last quarter (January-March) of 2020-21.
Also, the GVA during the first quarter of this year was lower by 7.7 percent compared to Rs 33,05,273 crore in the first quarter of 2019-20, the immediate pre-pandemic year.
Economy: Eight core sectors' output up 9.4% in July
The output of eight core sectors grew by 9.4 percent in July, mainly due to a low base effect and uptick in production of coal, natural gas, steel, cement and electricity, official data showed on Tuesday.
The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 7.6 percent in July 2020 due to the nationwide lockdown imposed to control the spread of COVID-19.
According to the commerce and industry ministry data, production of coal, natural gas, refinery products, steel, cement and electricity jumped by 18.7 percent, 18.9 percent, 6.7 percent, 9.3 percent, 21.8 percent and 9 percent in July, respectively.
Live Updates
- 1 Sept 2021 8:51 AM IST
MapMyIndia files DRHP with SEBI for IPO
Indian digital mapping firm MapMyIndia filed its DRHP documents on August 31, 2021. The initial public offering (IPO) will see an offer-for-sale up to 7,547,959 equity shares by selling shareholders, according to the draft red herring prospectus (DRHP).
“The objects of the Offer are to carry out the Offer for Sale of up to 7,547,959 equity shares by the Selling Shareholders and achieve the benefits of listing the Equity Shares on the Stock Exchanges,” the DRHP read.
- 1 Sept 2021 8:50 AM IST
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 3,881.16 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,872.40 crore in the Indian equity market on August 31, as per provisional data available on the NSE.
- 1 Sept 2021 8:49 AM IST
India poised for stronger growth on structural reforms, govt capex push: CEA K Subramanian
India's macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government's capex push and rapid vaccination, Chief Economic Advisor KC Subramanian said on Tuesday.
Briefing media on the growth number, he said the GDP data for the first quarter reaffirms the government's prediction of an imminent V-shaped recovery made last year.
- 1 Sept 2021 8:49 AM IST
China's factory activity contracts for first time since April 2020
China's factory activity slipped into contraction in August for the first time in nearly 1-1/2 years as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on output in a blow to the economy.
The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) fell to 49.2 last month, from 50.3 in July, breaching the 50-mark that separates growth from contraction.
- 1 Sept 2021 8:48 AM IST
Global economy not out of the woods yet, says RBI Governor Shaktikanta Das
Reserve Bank of India (RBI) Governor Shaktikanta Das on August 3 said the global economy is showing some signs of recovery but the problems aren't over yet. "While there are signs of recovery, we are not yet out of the woods," said Das speaking at the 21st FIMMDA-PDAI Annual Conference on Tuesday.
