Market Live Updates Today: Trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain.
The Indian stock market is expected to open flat as trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain.
image for illustrative purpose
The Indian stock market is expected to open flat as trends on SGX Nifty indicate a cautious opening for the index in India with a 4 points gain.
The BSE Sensex fell 870.51 points or 1.74 percent to 49,159.32 on April 5 while the Nifty50 was down 229.60 points or 1.54 percent at 14,637.80. According to pivot charts, the key support levels for the Nifty are placed at 14,448.27, followed by 14,258.73. If the index moves up, the key resistance levels to watch out for are 14,838.57 and 15,039.33.
U.S. stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening and a muted climb in the 10-year U.S. Treasury yield kept inflation worries in check.
Asian equities are poised to rise on Tuesday after the S&P 500 and Dow indexes set records as a streak of strong U.S. economic data fueled optimism even as a smaller-than-expected climb in 10-year Treasury notes eased inflation concerns.
Live Updates
- 6 April 2021 9:00 AM IST
Freight traffic handled by 12 major ports in India contracted 4.6% Y-o-Y in FY21
Freight traffic handled by 12 major ports in the country contracted 4.6 percent year on year to 672.61 million tonne in FY 2020-21 due to disruptions caused by the COVID-19 pandemic mainly in the first half of the year, data released on April 5 by the Indian Ports Association showed.
Ports' freight traffic showed a year-on-year increase for the fifth consecutive month in March. Ports' freight traffic boomed in March, rising 16.4 percent on year, the largest in at least a year.
- 6 April 2021 8:59 AM IST
Icra revises fertiliser sector outlook to positive on expectations of healthy profitability
Icra on Monday revised its outlook for the fertiliser sector to positive on expectations of healthy profitability in 2021-22, following a normal monsoon for the upcoming kharif season. Additionally, the agri-economy witnessed a strong performance in 2020-21 with healthy farm incomes, and Icra expects the benefit of the current year to rub off on the next fiscal as well, it said in a report.
Further, the report said the credit profile of the fertiliser sector is expected to witness a significant improvement in this new fiscal year, driven by the removal of the subsidy backlog following the pay-out of additional subsidy of Rs 62,602 crore by the government under the Aatmanirbhar 3.0 package. Going forward, Icra expects the subsidy receipts from the government to be paid in a timely manner, which will lead to lower working capital intensity.
- 6 April 2021 8:58 AM IST
Japan real wages eke out first rise in a year as COVID-19 hits prices
Japan’s real wages rose for the first time in a year in February, the government said on Tuesday, largely due to prices weakening as the coronavirus pandemic continued to weigh on the economy.
Inflation-adjusted real wages, a key measure of households’ purchasing power, rose 0.2% in February compared with the same month a year earlier, the labour ministry said on Tuesday. It was the first rise in inflation-adjusted real wages in 12 months, after a revised 0.6% decline in January.
- 6 April 2021 8:57 AM IST
U.S. services sector gauge scales record high; cost pressures mounting
A measure of U.S. services industry activity surged to a record high in March amid robust growth in new orders, in the latest indication of a roaring economy that is being boosted by increased vaccinations and massive fiscal stimulus.
The upbeat survey from the Institute for Supply Management (ISM) on Monday followed news on Friday that the economy added 916,000 jobs last month, the most since August. Economic growth this year is expected to be the best in nearly four decades.
The ISM’s non-manufacturing activity index rebounded to a reading of 63.7 last month also due to warmer weather. That was the highest in the survey’s history and followed 55.3 in February.
- 6 April 2021 8:49 AM IST
Oil down 5% as rising OPEC+, Iranian output weighs
Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply. [OPEC/O]
Brent crude for June fell $3.08, or 4.8%, to $61.78 a barrel by 1:42 p.m. EDT (1742 GMT). U.S. West Texas Intermediate crude for May dropped $3.21, or 5.2%, to $58.24.
