Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 119-point gain.
image for illustrative purpose
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 119-point gain.
The Sensex closed 536 points, or 1.13 percent, lower at 46,874.36 on January 28 and the Nifty settled 150 points, or 1.07 percent, down at 13,817.55.
According to pivot charts, the key support level for the Nifty is placed at 13,721.07, followed by 13,624.63. If the index moves up, the key resistance levels to watch out for are 13,906.07 and 13,994.63.
The Dow Jones Industrial Average rose 300.19 points, or 0.99%, to 30,603.36, the S&P 500 gained 36.61 points, or 0.98%, to 3,787.38 and the Nasdaq Composite added 66.56 points, or 0.5%, to 13,337.16.
Asian stocks were set to rise on Friday after U.S. shares rallied and the dollar eased overnight, as fears of social-media driven hedge fund selling abated and the U.S. earnings season got off to a strong start.
In early Asian trade, Australia's S&P/ASX 200 benchmark was up 1.15%, Japan's Nikkei futures rose 1.39% and Hong Kong's Hang Seng index futures gained 1.47%.
Stay Tuned For More Live Updates.
Live Updates
- 29 Jan 2021 8:50 AM IST
IMF says fiscal support needed until recovery takes hold
Global debt likely reached 98% of economic output at the end of 2020 as governments poured in nearly $14 trillion in fiscal support to battle the coronavirus pandemic, the International Monetary Fund said on Thursday, while urging that fiscal support stay in place until recovery is firmly underway.
The IMF, in an update of its Fiscal Monitor, said that the fiscal support included $7.8 trillion in additional direct spending or foregone revenue and $6 trillion in guarantees, loans and equity injections. Total support is up about $2.2 trillion since the last Fiscal Monitor update in October.
- 29 Jan 2021 8:49 AM IST
German inflation roars back and hits 11-month high in January
German annual consumer prices turned positive and rose by far more than expected in January, the Federal Statistics Office said on Thursday, attributing a rise in sales tax and the minimum wage as factors behind the increase. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.6% year-on-year after declining by 0.7% in December.
- 29 Jan 2021 8:49 AM IST
DGCA extends suspension of international passenger flights, visas until February 28
The Directorate General of Civil Aviation on January 28 extended the ongoing travel and visa restrictions for international commercial passenger services till February 28, 2021, citing the COVID-19 pandemic. However, the DGCA had maintained that cargo flights and limited international flights under bubble arrangement will continue. India had banned international travel in end-March, coinciding with a similar restriction on domestic operations, and the national lockdown. Though it resumed domestic flights in May, international travel remained suspended as COVID-19 cases remained at high levels.
- 29 Jan 2021 8:48 AM IST
US economy contracts in 2020; worst performance since 1946
The US economy contracted at its sharpest pace since World War Two in 2020 as COVID-19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of work and into poverty.
The economy contracted 3.5 percent in 2020, the worst performance since 1946. That followed 2.2 percent growth in 2019 and was the first annual decline in GDP since the 2007-09 Great Recession. The economy plunged into recession last February.
- 29 Jan 2021 8:48 AM IST
Economic Survey 2020-21 to be tabled today
Finance minister Nirmala Sitharaman will table the annual Economic Survey in Parliament for the growth projections for 2021-22. The Survey’s gross domestic product (GDP) growth projections for 2021-22 and estimates for the current year (2020-21) will be among the most tracked pieces of statistics as it would offer cues on how quickly the government expects the economy to accelerate to a faster lane.
The Central Statistics Office’s (CSO’s) first advance estimates, released earlier this month, projected that India will decelerate at (-) 7.7 percent in 2020-21.
