Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 52 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 52 points 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 52 points gain.
The S&P BSE Sensex climbed 358.54 points to 50,614.29 on February 4 while the Nifty50 rose 105.70 points to 14,895.70. According to pivot charts, the key support levels for the Nifty are placed at 14,769.1, followed by 14,642.5. If the index moves up, the key resistance levels to watch out for are 14,968 and 15,040.3.
US stocks rose more than 1% on Thursday and the S&P 500 and Nasdaq posted record closing highs after another batch of upbeat earnings and data suggesting the labor market may be stabilizing.
Asian futures were little changed in early trading after progress in vaccine distribution and a large U.S. stimulus program sent two major Wall Street indexes to record closing highs.
E-mini futures for the S&P 500 and Hong Kong's Hang Seng index futures were essentially flat while Japan's Nikkei 225 futures inched 0.1% higher. The Australian S&P/ASX 200 index rose 0.9% in early trade.
Live Updates
- 5 Feb 2021 8:47 AM IST
Sebi slaps Rs 1.2 crore fine on 6 entities for IPO fund diversion, fraudulent trading
Sebi on Thursday slapped a total fine of Rs 1.2 crore on six entities for diverting proceeds from the initial public offer of Birla Pacific Medspa Ltd (BPML) as well as for indulging in manipulative trading. A fine of Rs 20 lakh each has been imposed on Jalan Cement Works Ltd (now known as Aashrit Capital Ltd), Orbit Financial Consultants Pvt Ltd, Rupak Trading Pvt Ltd, Marutinandan Infosolutions Pvt Ltd, Sanjukta Vanijya Pvt Ltd and Darshan Tradelink Pvt Ltd.
It was found that the price of the scrip had seen sharp volatility on the listing day, closing at Rs 25.35 — 154 per cent more than issue price of Rs 10 per share. Further, the regulator noted that IPO proceeds of BPML were routed through Sanjukta and Darshan to four entities — Orbit, Maruti, Jalan and Rupak, which ultimately used the money for purchasing the company's shares on the day of listing.
- 5 Feb 2021 8:47 AM IST
US unemployment claims fall to 779,000 but job cuts grind on
The number of Americans seeking unemployment benefits declined to 779,000 last week, a still-historically high total that shows that a sizable number of people keep losing jobs to the viral pandemic. Last week’s total dropped from 812,000 the previous week, the Labor Department said Thursday, and is the lowest in two months. Still, before the virus erupted in the United States in March, weekly applications for jobless aid had never topped 700,000, even during the Great Recession.
Thursday's report reflects a US job market that is still suffering from the pandemic, with hiring having weakened for six straight months. It is a key reason why President Joe Biden is pushing Congress to enact a $1.9 trillion economic rescue program, on top of a $900 billion federal aid package that was approved late last year.
- 5 Feb 2021 8:46 AM IST
TRAI issues recommendations on regulatory framework for platform services offered by DTH
Telecom regulator TRAI has issued its recommendations on the back reference from the Ministry of Information and Broadcasting on the authority's earlier guidelines on the regulatory framework for platform services offered by DTH.
TRAI recommended that programmes transmitted by the direct-to-home (DTH) operators or multiple system operators (MSOs) or Internet Protocol Television (IPTV) operators as a platform service shall be exclusive and the same shall not be permitted to be shared directly or indirectly with any other distribution platform operator (DPO).
- 5 Feb 2021 8:45 AM IST
RBI interest rate decision today
Most economists expect the Monetary Policy Committee (MPC), the rate-setting panel, to vote in favour of a pause on February 5 and continue with the accommodative stance. That wouldn’t be a surprise for markets. In all likelihood, the RBI is expected to announce a pause and continue with the accommodative stance.
