Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 107 points gain
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 107 points gain.
image for illustrative purpose
The S&P BSE Sensex declined 746.22 points to 48,878.54 on January 22 while the Nifty50 index plunged 218.50 points to 14,371.90.
According to pivot charts, the key support levels for the Nifty are placed at 14,279.83, followed by 14,187.77. If the index moves up, the key resistance levels to watch out for are 14,541.93 and 14,711.97.
The Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.
Asian shares were on the defensive on Monday as rising COVID-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed at 718.72. Japan's Nikkei fell 0.1%. Australian shares were higher after the country's drug regulator approved the Pfizer/BioNTech COVID-19 vaccine with authorities saying a phased rollout will begin late next month.
Live Updates
- 25 Jan 2021 8:57 AM IST
India's forex reserves down by $1.839 billion to $584.242 billion
After touching a record high in the preceding week, the country's foreign exchange reserves declined by $1.839 billion to $584.242 billion in the week ended January 15, RBI data showed on Friday. In the previous week ended January 8, the reserves had climbed by $758 million to touch a lifetime high of $586.082 billion.
In the reporting week, foreign currency assets (FCA) — a major component of the overall reserves — decreased by $284 million to $541.507 billion, weekly data by the Reserve Bank of India (RBI) showed.
- 25 Jan 2021 8:56 AM IST
Stove Kraft IPO opens today
Kitchen appliances maker Stove Kraft is set to open its initial public offering for subscription on January 25. It is the fourth company to launch IPO in the current month after Indian Railway Finance Corporation, Indigo Paints and Home First Finance Company. The issue will close on January 28. Equity shares will be listed on both BSE and the National Stock Exchange. Edelweiss Financial Services and JM Financial are the book running lead managers to the offer.
The initial public offering comprises fresh issue of Rs 95 crore by the company and offer for sale of 82.50 lakh equity shares by promoters and investors. The offer for sale consists 6,90,700 equity shares by promoter Rajendra Gandhi and 59,300 shares by promoter Sunita Rajendra Gandhi, and 14,92,080 shares by Sequoia Capital India Growth Investment Holdings I and up to 60,07,920 shares by SCI Growth Investments II.
- 25 Jan 2021 8:56 AM IST
FPIs net investors at Rs 18,456 crore in January so far
Foreign portfolio investors (FPI) remained net buyers to the tune of Rs 18,456 crore so far in January as global liquidity led to continued investment in emerging markets. According to depositories data, overseas investors pumped in Rs 24,469 crore into equities but pulled out Rs 6,013 crore from the bonds market between January 1-22.
The total net investment during the period under review stood at Rs 18,456 crore. "The inflow into the Indian markets continue as global liquidity leads to more investments in emerging markets like India," said Harsh Jain, co-founder and COO at Groww.
- 25 Jan 2021 8:48 AM IST
RBI discussion paper proposes tighter rules for big NBFCs
A Reserve Bank of India (RBI) discussion paper on regulation of non-banking finance companies (NBFCs) has proposed tighter regulations for large NBFCs and creation of a multilayer model in the industry. The discussion paper has proposed a multiple layer structure to categorise NBFCs depending on their size and interconnectedness with the system.
- 25 Jan 2021 8:47 AM IST
IRDAI panel for separate payments of vehicle, insurance premium
Buyer of a new vehicle may have to pay cost of vehicle and insurance premium through separate cheques, if the recommendations of a committee to review MISP guidelines are accepted by the insurance regulator Irdai.
The Insurance Regulatory and Development Authority of India (Irdai) had issued MISP guidelines in 2017 with the intention of streamlining the process and bringing the practices of vehicle insurance, being sold by automotive dealers under the provisions of the Insurance Act, 1938.
