Market Live Updates Today: Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 243 points.
image for illustrative purpose
The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 243 points.
The benchmark indices fell 5.5 percent in previous five consecutive sessions before seeing a bounce back on January 25. The BSE Sensex rose 366.64 points to 57,858.15, while the Nifty50 jumped 128.90 points to 17,278 on Tuesday and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 16,973.4, followed by 16,668.9. If the index moves up, the key resistance levels to watch out for are 17,445.8 and 17,613.7.
US Fed likely to hike rates in March as Powell vows sustained inflation fight
The Federal Reserve on Wednesday said it is likely to hike interest rates in March and reaffirmed plans to end its bond purchases that month in what U.S. central bank chief Jerome Powell pledged will be a sustained battle to tame inflation.
"The committee is of a mind to raise the federal funds rate at the March meeting assuming that the conditions are appropriate for doing so," Powell said in a news conference, pinning down a policy statement from the central bank's Federal Open Market Committee that only said rates would rise "soon."
US Markets
U.S. stocks retreated Wednesday, erasing strong gains, after the Federal Reserve signaled an interest rate hike could be coming soon, while supply concerns stemming from tension between Russia and Ukraine saw oil prices touch highs not seen since 2014.
The Dow Jones Industrial Average closed down 0.38%, while the S&P 500 fell 0.15% and the Nasdaq Composite gained just 0.02%.
Asian Markets
Asia-Pacific markets declined on Thursday as investors digest an overnight update from the U.S. Federal Reserve that indicated the central bank plans to raise interest rates as soon as March. In Japan, the Nikkei 225 slipped 1.67% while the Topix was down 1.23%.
SGX Nifty
Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 243 points. The Nifty futures were trading around 16,977 levels on the Singaporean exchange.
Live Updates
- 27 Jan 2022 12:36 PM IST
Tata Sons Chairman N Chandrasekaran meets PM Modi today ahead of Air India handover
Tata Sons chairman N Chandrasekaran will be meeting Prime Minister Narendra Modi on January 27 ahead of the likely handover of the flag carrier Air India to the business conglomerate, CNBC-TV18 has said.
A new board will be constituted after that of Air India resigns during the day, the report said. Tata is also in talks to appoint an ex-pat from the global aviation industry as Air India CEO. The merger of Air India Express and Air Asia India is set to commence next week, the report added.
- 27 Jan 2022 12:35 PM IST
Adani Wilmar IPO updates: The initial public offering (IPO) of Adani Wilmar, a joint venture between Adani Group and Singapore-based Wilmar, received bids for 2.66 crore equity shares against IPO size of 12.25 crore equity shares, subscribing 22 percent on January 27, the first day of bidding.
The portion set aside for retail investors was subscribed 43 percent, while the portion allocated for non-institutional investors was subscribed of 9.29 lakh shares of the 2.15 crore shares allocated. Qualified institutional buyers (QIB) have subscribed 11 percent or 32.63 lakh share out of the 2.87 crore share allotted to them.
- 27 Jan 2022 9:05 AM IST
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 7,094.48 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 4,534.53 crore in the Indian equity market on January 25, as per provisional data available on the NSE.
- 27 Jan 2022 9:05 AM IST
Results today
Bharat Heavy Electricals, Punjab National Bank, RBL Bank, Canara Bank, Indus Towers, Accelya Solutions India, AIA Engineering, Arvind, Aurionpro Solutions, Birlasoft, CG Power and Industrial Solutions, Chalet Hotels, Coforge, Colgate-Palmolive, Dalmia Bharat, Exxaro Tiles, Fino Payments Bank, GHCL, Gujarat Mineral Development Corporation, Home First Finance Company, HSIL, Laurus Labs, LIC Housing Finance, Mahindra Logistics, CE Info Systems, Motilal Oswal Financial Services, Nippon Life India Asset Management, PSP Projects, Route Mobile, Transport Corporation of India, Vaibhav Global, Wabco India, and Wockhardt.
- 27 Jan 2022 9:04 AM IST
IMF's Gita Gopinath warns economies will need to adapt to higher global interest rates
Gita Gopinath has warned monetary policy is at a "critical juncture" in most countries and that economies will need to adapt to higher interest rates globally.
"Where inflation is broad-based alongside a strong recovery, like in the United States, or high inflation runs the risk of becoming entrenched, as in some emerging market and developing economies and advanced economies, extraordinary monetary policy support should be withdrawn," Gopinath wrote in an article accompanying the IMF's update to its World Economic Outlook report, released on January 25.
- 27 Jan 2022 9:04 AM IST
Adani Wilmar IPO opens today
Adani Wilmar Ltd, incorporated in 1999 as a joint venture between Adani Group and Wilmar Group of Singapore, is an FMCG company offering kitchen commodities for Indian consumers including edible oil, wheat flour, rice, pulses, and sugar.
Adani Wilmar will float its Rs 3,600 crore initial public offering (IPO) on January 27 and close it on January 31. The Rs 3,600 crore IPO involves only a fresh issuance of about 15.65 crore shares and does not include offer for sale.
- 27 Jan 2022 9:03 AM IST
IMF raises India's GDP growth forecast by 50 bps to 9% for FY23
The International Monetary Fund (IMF) has raised its forecast for growth in India's gross domestic product (GDP) in FY23 by 50 basis points (bps) to 9 percent. India's GDP growth forecast for FY24 was also raised by 50 bps to 7.1 percent.
Explaining the upward revision in an update to its World Economic Outlook report, released on January 25, the IMF said it expects an improvement in India's credit growth – which would boost consumption and investment – and "better-than-anticipated performance of the financial sector".
- 27 Jan 2022 9:03 AM IST
Oil breaks $90/bbl for the first time since 2014 on Russia tensions
Oil rose on Wednesday, touching $90 a barrel for the first time in seven years as tight supply and rising political tensions between Russia and Ukraine added to concerns about further disruption in an already-tight market.
Brent crude gained $1.76, or 2%, to settle at $89.96 a barrel, after surpassing $90 for the first time since October 2014. U.S. West Texas Intermediate (WTI) crude closed up $1.75, or 2%, to $87.35 a barrel.
