Market Live Updates Today: Trends on SGX Nifty indicate a flat start for the broader index in India
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The BSE Sensex climbed 568.38 points, or 1.17 percent, to close at 49,008.50 on March 26 while the Nifty50 rose 182.40 points, or 1.27 percent, to 14,507.30. According to pivot charts, the key support levels for the Nifty are placed at 14,423.37, followed by 14,339.43. If the index moves up, the key resistance levels to watch out for are 14,582.07 and 14,656.83.
The Dow Jones Industrial Average rose 98.49 points, or 0.3%, to 33,171.37, the S&P 500 lost 3.45 points, or 0.09%, to 3,971.09 and the Nasdaq Composite dropped 79.08 points, or 0.6%, to 13,059.65.
Asian shares were set to open higher on Tuesday as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.
Live Updates
- 30 March 2021 9:23 AM IST
India's forex reserves rise to $582 billion
The country’s foreign exchange (forex) kitty rose $233 million to $582.271 billion in the week to March 19, the Reserve Bank of India (RBI) said on Friday. The overall reserves had risen $1.74 billion to $582.04 billion in the previous reporting week.
The increase in the overall reserves during the reporting week was largely on account of swelling of the foreign currency assets, which rose from $157 million to $541.18 billion.
- 30 March 2021 9:07 AM IST
Airtel, Vodafone Idea, Jio pay Rs 5,000 crore in AGR dues
Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi) have paid around Rs 5,000 crore to the Department of Telecom (DoT) in licence fee and spectrum usage charges for the January-March quarter.
"The three telcos have made the payments without any delay. The January-March quarter dues need to come in by March 25, if there is a small balance, that is paid by end of March since it is the financial year closing," the Economic Times reported, citing an industry executive.
Unlike this quarter, cash-strapped Vi had earlier delayed payments in the previous quarters. As per the numbers of the last quarter ended December 31, Airtel had paid around Rs 1,600 crore, Jio about Rs 2,000 crore, and Vi paid Rs 1,000 crore.
- 30 March 2021 9:03 AM IST
Banks to conduct special clearing operations for closure of govt accounts on March 31
Banks will conduct special clearing operations for the annual closure of government accounts on March 31, which is the last day of the current fiscal year, the RBI has said. The Reserve Bank has issued directions to the banks for smooth clearing operations and asked them to mandatorily participate in it.
To facilitate accounting of all the government transactions for the current financial year 2020-21 by March 31, 2021, it has been decided to conduct special clearing exclusively for government cheques across the three CTS grids on March 31, 2021, the RBI said. Under this, presentation clearing will take place between 1700 to 1730 hrs and return clearing will take place between 1900 and 1930 hrs at the three CTS (cheque truncation system) grids located in New Delhi, Chennai and Mumbai.
- 30 March 2021 8:57 AM IST
Global banks warn of possible losses from hedge fund default
Swiss bank Credit Suisse said Monday it may have suffered a highly significant loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japan's Nomura said it could face a loss of $2 billion due to an event with a U.S. client.
Credit Suisse didn't identify the significant hedge fund or the other banks affected, or give other details of what happened. News reports identified the hedge fund as New York-based Archegos Capital Management.
Following the failure of the fund to meet these margin commitments, Credit Suisse and a number of other banks are in the process of exiting these positions, the company said.
