Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 53 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 53 points gain. The S&P BSE Sensex fell 19.69 points to 51,329.08 after more than a 10 percent rally seen in the previous six consecutive sessions on February 9 while the Nifty50 declined 6.50 points to 15,109.30.
According to pivot charts, the key support levels for the Nifty are placed at 15,030.03, followed by 14,950.77. If the index moves up, the key resistance levels to watch out for are 15,222.83 and 15,336.37.
MSCI's gauge of global stocks and the Nasdaq extended their runs to fresh highs on Tuesday, and oil prices pushed their rally into a seventh straight session as strong earnings and economic recovery prospects buoyed investor sentiment.
The S&P 500 and Dow ended slightly lower, however, breaking their six-day streak of gains, as investors rotated out of large-cap tech names into other sectors. The Dow Jones Industrial Average fell 9.93 points, or 0.03%, to 31,375.83, the S&P 500 lost 4.36 points, or 0.11%, to 3,911.23 and the Nasdaq Composite added 20.06 points, or 0.14%, to 14,007.70.
Asian stocks inched higher on Wednesday, as upbeat Wall Street earnings and optimism about a global recovery supported sentiment, although concerns about the sustainability of a recent risk rally are likely to cap gains.
Stay Tuned For More Market Upadtes.
Live Updates
- 10 Feb 2021 8:47 AM IST
General insurers post 2.7% premium growth in April-January period
General insurance companies posted a 2.7 percent year-on-year (YoY) growth in gross written premiums in the April 1-January 31 period (FY21). Data from the Insurance Regulatory and Development Authority of India (IRDAI) showed that the non-life companies collected premiums of Rs 1.63 lakh crore in this period.
The growth was led by standalone health insurers who posted an 8 percent YoY rise in premiums to Rs 12,108.74 crore in the period. The other general insurers (excluding Agriculture Insurance Company and ECGC) posted 1.9 percent YoY growth in premium to Rs 1.41 lakh crore.
- 10 Feb 2021 8:46 AM IST
Indian Railways achieves record freight loading in January 21
Indian Railways achieved the highest ever freight loading in January 2021 clocking a figure of 119.79 MT and surpassing its previous record of loading 119.74 MT of freight in March 2019, the ministry said on Tuesday.
As per the statistics till February 8, Indian Railways loading was 30.54 million tonnes which include 13.61 MT of coal, 4.15 MT of iron ore, 1.04 MT of foodgrains, 1.03 MT of fertilizers, 0.96 MT of mineral oil and 1.97 MT of cement (excluding clinker). It is worth mentioning that a number of concessions and discounts are also being given in Indian Railways to make the railways' freight movement very attractive. The COVID-19 pandemic has been used by Indian Railways as an opportunity to improve its all-round efficiencies and performances.
- 10 Feb 2021 8:46 AM IST
India energy demand set to grow fastest in the world; to overtake EU
India's energy demand will increase more than that of any other country over the next two decades, the International Energy Agency (IEA) said on Tuesday forecasting India overtaking the European Union as the world's third-largest energy consumer by 2030.
An expanding economy, population, urbanisation and industrialisation will result in India's energy needs growing at three times the global average under today's policies, according to IEA's India Energy Outlook 2021. "India has arrived at the centre of the world energy stage," said Fatih Birol, the IEA's executive director.
Energy use has doubled since 2000, with most of that demand met by coal and oil. This is set to grow about 35 percent until 2030, down from 50 percent before the coronavirus pandemic. India will see the addition of 13 new Mumbai's in urban population, boosting demand for cement, steel, electricity, he said.
- 10 Feb 2021 8:45 AM IST
Oil Prices
Oil prices rose again on Wednesday, extending their more than week-long rally after industry data showing a fall in U.S. crude oil stocks added to optimism about an expected rise in global fuel demand.
Brent crude was up by 11 cents, or 0.2%, at $61.20 by 0110 GMT after rising nearly 1% on Tuesday, when it touched a 13-month high. U.S. crude added 2 cents to $58.28.
