Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the index in India with a 32-points loss
image for illustrative purpose
On November 24, the BSE Sensex corrected 323.34 points to 58,340.99, while the Nifty50 declined 88.30 points to 17,415 and formed bearish candle on the daily charts, indicating further weakness in the market up to 20-week EMA around 17,200 levels, experts feel.
According to pivot charts, the key support levels for the Nifty are placed at 17,312.54, followed by 17,209.97. If the index moves up, the key resistance levels to watch out for are 17,559.14 and 17,703.17.
US Markets
Wall Street ended higher on Wednesday lifted by gains in Nvidia and other tech stocks, while Gap and Nordstrom shares tumbled following weak quarterly reports.
The Dow Jones Industrial Average fell 0.03% to end at 35,804.38 points, while the S&P 500 gained 0.23% to 4,701.46. The Nasdaq Composite climbed 0.44% to 15,845.23.
Asian Markets
Shares in Asia-Pacific were mixed in Thursday trade as investors reacted to the Bank of Korea's rate decision. South Korea's Kospi led losses regionally, dipping 0.54%. Nikkei gained 0.89% while the Topix index advanced 0.59%.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 32-points loss. The Nifty futures were trading at 17,377 on the Singaporean Exchange around 07:30 hours IST.
Live Updates
- 25 Nov 2021 8:53 AM IST
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 5,122.65 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 3,809.62 crore in the Indian equity market on November 24, as per provisional data available on the NSE.
- 25 Nov 2021 8:52 AM IST
Tarsons Products IPO: Listing on November 26
Labware products maker Tarsons Products will make its stock market debut on November 26 and if the grey market is anything to go by, it will be an impressive listing. The grey market is an unofficial platform where trading in shares begins with the announcement of IPO price band and continues till the listing of shares on the bourses.
The public issue of the life sciences company was subscribed 77.79 times during November 15-17, 2021. Non-institutional investors bought 184.58 times the portion set aside for them, and the reserved part of qualified institutional investors was booked 115.77 times. Retail investors put in bids 10.56 times their reserved portion.
- 25 Nov 2021 8:52 AM IST
Japan's service prices rise for 8th straight month as freight cost spikes
The prices Japanese companies charge each other for services rose 1.0% in October from a year earlier, their eighth straight month of gains and a sign inflationary pressure was building due to higher global commodity costs.
The services producer price index hit 105.4 in October, the highest since November 2001, Bank of Japan (BOJ) data showed on Thursday.
- 25 Nov 2021 8:51 AM IST
Oil steadies as investors question reserve release
Oil prices were largely steady on Wednesday as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves and turned their focus to how producers will respond.
Brent crude settled down 6 cents, or 0.07%, at $82.25 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 11 cents, or 0.14%, at $78.39.
- 25 Nov 2021 8:51 AM IST
GST hike on textile, footwear to negatively impact working capital of MSMEs: Experts
The recent increase in the goods and services tax (GST) on finished products such as apparel, textiles and footwear will have financial implications for the Micro, Small and Medium Enterprises (MSMEs) which have a significant footprint in that space, said tax experts.
The Finance Ministry on November 18 notified a 7 percent increase in the goods and services tax (GST) applicable on finished products such as apparel, textiles and footwear from 5 percent to 12 percent, effective January 2022.
- 25 Nov 2021 8:51 AM IST
Reliance Industries to restructure and repurpose gasification assets
The board on November 24 announced that it has decided to implement a scheme of arrangement (Scheme) to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS). Repurposing the gasification assets will help use of syngas as a reliable source of feedstock to produce chemicals and cater to growing domestic demand, resulting in an attractive business opportunity. Further, as the hydrogen economy expands, RIL will be well-positioned to be the first mover to establish a hydrogen ecosystem, the statement said.
- 25 Nov 2021 8:50 AM IST
Indian GDP to grow 7.8% in Q2, 9.4% in FY22: Report
Official data print on the GDP will show a 7.8 percent expansion on a year-on-year basis for the September 2021 quarter, according to a report. Real GDP will grow 9.4 percent in FY22 and decelerate to 7.5 per cent for FY23 as the base effects result in the higher growth in the ongoing fiscal wear-off, according to the report by economists at HDFC Bank released on Wednesday.
In FY21, the GDP had contracted 7.3 percent due to the pandemic. For FY22, the RBI expects GDP to clock a growth of 9.5 percent, which will slow to 7.8 percent in FY23. The GDP had expanded by over 20 percent for the first quarter on the lower base.
