Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 90 points gain
The Sensex closed 487 points, or 0.95 percent, lower at 50,792.08 on March 12 while the Nifty fell 144 points, or 0.95 percent, to 15,030.95.
image for illustrative purpose
The Sensex closed 487 points, or 0.95 percent, lower at 50,792.08 on March 12 while the Nifty fell 144 points, or 0.95 percent, to 15,030.95.
The blue-chip Dow powered to its fifth consecutive record high on Friday and the S&P 500 closed slightly higher as investors bought shares that should benefit from a strong reopening of the U.S. economy, an outlook signaled by rising yields in the bond market.
Global stock prices were off to a solid start while U.S. bond yields hovered near a 13-month peak on Monday as investors bet U.S. economic growth will accelerate after the passing of a massive stimulus package.
Live Updates
- 15 March 2021 9:22 AM IST
India's foreign exchange reserves surpass Russia's, become world’s fourth biggest
The foreign exchange reserves of India surpassed Russia's and became the world's fourth largest, reported Bloomberg.
The foreign exchange reserves of both India and Russia have declined after months of rapid increase. However, India pulled ahead as Russian holdings declined at a faster rate in recent weeks and the Reserve Bank of India continued to hoard dollars to cushion the economy against any sudden outflows.
On March 13, the RBI said the country's foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5, while edging out Russia’s $580.1 billion pile. Currently, in the International Monetary Fund table, China has the largest reserves, followed by Japan and Switzerland.
- 15 March 2021 9:16 AM IST
Brent crude floats near $70 on demand recovery anticipation
Oil prices edged up on Monday, with Brent drifting near $70 a barrel, propped up by output cuts from major producers and optimism about global economic and fuel demand recovery in the second half of the year.
Brent crude futures for May gained 23 cents, or 0.3%, to $69.45 a barrel by 0102 GMT while U.S. West Texas Intermediate crude for April was at $65.90 a barrel, up 29 cents, or 0.4%.
- 15 March 2021 8:59 AM IST
Bitcoin rises 6.6% to $61,074
Bitcoin, the world's biggest and best-known cryptocurrency, rose 6.64% to $61,073.71 on March 14, adding $3,802.67 to its previous close. Bitcoin is up 120.2% from the year's low of $27,734 on January 4.
After ending last year with a fourth-quarter surge of 170% at around $29,000, Bitcoin jumped to $40,000 seven days later. It took just a little more than a month to breach the latest threshold. Bitcoin traded for a few cents for several years after its debut more than a decade ago.
- 15 March 2021 8:52 AM IST
CPI inflation surges to 5.03% in February; IIP recedes by 1.6% in January
The Consumer Price Index (CPI) or retail inflation rate for the month of February 2021 surged to 5.03 percent, the Ministry of Statistics and Programme Implementation (MoSPI) said on March 12.
The CPI inflation, in the urban area, was recorded as 5.96 percent in February. In rural area, the general inflation rate was 4.19 percent during the month. The combined inflation rate was found to be 5.03 percent, the National Statistical Office (NSO) said.
While the retail inflation continues to march in the positive trajectory, the Index of Industrial Production (IIP) contracted by 1.6 percent in the month of January, as per the data released by MoSPI. Contrary to the contraction seen in January, the IIP had grown in the preceding two months. The index rose by 0.4 percent in November, followed by a 1 percent rise in December 2020.
The combined food inflation rate, at 3.87 percent, was lower than the combined general inflation rate. However, in urban areas, the food inflation climbed to 5.63 percent, nearly double of 2.89 percent recorded in rural areas.
