Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 46 points
image for illustrative purpose
The market is expected to open in the green as trends on the SGX Nifty indicate a positive opening for the broader index in India with a gain of 46 points.
The BSE Sensex declined 770.31 points to 58,788.02, while the Nifty50 slipped 219.80 points to 17,560.20 and formed a bearish candle on the daily charts. The broader markets also corrected on Thursday with the Nifty Midcap 100 and Smallcap 100 indices declining 0.96 percent and 0.34 percent.
According to pivot charts, the key support levels for the Nifty are placed at 17,453.87, followed by 17,347.53. If the index moves up, the key resistance levels to watch out for are 17,723.87 and 17,887.53.
US Markets
Wall Street snapped a four-session winning streak on Thursday, with all three benchmarks ending lower after Facebook-owner Meta Platforms' dour forecast sent its stock plummeting and halted a nascent recovery built on upbeat earnings from other big tech.
The Dow Jones Industrial Average fell 518.17 points, or 1.45 percent, to 35,111.16, the S&P 500 lost 111.94 points, or 2.44 percent, to 4,477.44 and the Nasdaq Composite dropped 538.73 points, or 3.74 percent, to 13,878.82.
Asian Markets
Shares in Asia-Pacific were mixed in Friday trade, following heavy losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite plunging nearly 4 percent.
South Korea's Kospi jumped 0.75 percent. Nikkei 225 in Japan sat below the flatline while the Topix index dipped 0.12 percent. The S&P/ASX 200 in Australia declined 0.2 percent.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 46 points. The Nifty futures were trading around 17,564 levels on the Singaporean exchange.
Live Updates
- 4 Feb 2022 9:24 AM IST
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,597.54 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 370.58 crore in the Indian equity market on February 3, as per provisional data available on the NSE.
- 4 Feb 2022 9:24 AM IST
US weekly jobless claims decline further as Omicron wave subsides
The number of Americans filing new claims for unemployment benefits fell more than expected last week as COVID-19 infections subsided, suggesting that an anticipated slowdown in job growth in January was likely temporary.
Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 238,000 for the week ended Jan. 29. Economists polled by Reuters had forecast 245,000 applications for the latest week. Applications fell sharply in Ohio, Kentucky and Illinois, offseting notable rises in Michigan, California, Indiana and Pennsylvania.
- 4 Feb 2022 9:24 AM IST
Meta's huge share price drop shakes world tech stocks
Shares in Facebook owner Meta fell 26 percent on Thursday in what could be the worst single-day wipeout in market value for a US company, after the social media giant issued a dismal forecast, blaming Apple's privacy changes and increased competition.
The huge drop, erasing over $200 billion from Meta's market capitalisation, spilled over to the broader technology sector and dragged the Nasdaq lower.
- 4 Feb 2022 9:23 AM IST
BoE hikes rates to fight inflation
The Bank of England raised interest rates to 0.5 percent on Thursday and nearly half its policymakers wanted a bigger increase to contain rampant price pressures, which the British central bank warned would push inflation above 7 percent.
In a surprise split decision, four of the nine Monetary Policy Committee members wanted to raise rates to 0.75 percent in what would have been the biggest increase in borrowing costs since the BoE became operationally independent 25 years ago.
- 4 Feb 2022 9:23 AM IST
RBI may hike reverse repo rate by 0.25% in next week's policy: Report
The Monetary Policy Committee (MPC) may go for a hike of up to 0.25 per cent in the reverse repo rate at which the RBI absorbs excess liquidity and leave the repo rate at which it lends, to narrow the policy rate corridor, a British brokerage said on Thursday.
"Growth concerns amid spread of the Omicron variant and relatively benign inflation out-turns provide the RBI with enough room to maintain its growth-supportive monetary policies,” analysts at Barclays said, ahead of the resolution announcement next week.
- 4 Feb 2022 9:22 AM IST
Oil prices edge upward, bolstered by supply concerns
Oil prices edged higher on Thursday, maintaining the market's upward trajectory built on expectations that supply will continue to tighten even after OPEC+ producers stuck to planned moderate output increases.
Brent crude was up 47 cents, or 0.5 percent, to $89.87 a barrel. US West Texas Intermediate crude rose 60 cents, or 0.6 percent, to $88.76 a barrel.
