Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 92-point 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 92-point gain.
image for illustrative purpose
The BSE Sensex gained 117.34 points to end at record closing high of 50,731.63 on February 5 while the Nifty50 crossed 15,000 mark for the first time, rising 28.60 points to see record closing high of 14,924.30.
According to pivot charts, the key support levels for the Nifty are placed at 14,854.43, followed by 14,784.67. If the index moves up, the key resistance levels to watch out for are 15,004.33 and 15,084.47.
US stocks extended their recent rally on Friday and the S&P 500 and Nasdaq indexes scored their biggest weekly percentage gains since the US elections in early November, boosted by optimism over earnings, stimulus talks and progress on vaccine rollouts.
The Dow Jones Industrial Average rose 92.38 points, or 0.3%, to 31,148.24, the S&P 500 gained 15.09 points, or 0.39%, at 3,886.83 and the Nasdaq Composite added 78.55 points, or 0.57%, at 13,856.30.
Asian shares hovered near record highs on Monday while oil edged closer to $60 a barrel on hopes a $1.9 trillion COVID-19 aid package will be passed by U.S. lawmakers as soon as this month just as coronavirus vaccines are being rolled out globally.
Live Updates
- 8 Feb 2021 8:55 AM IST
3 stocks under F&O ban on NSE
BHEL, Punjab National Bank and SAIL are under the F&O ban for February 8 as we are in the initial days of February series. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
- 8 Feb 2021 8:55 AM IST
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,461.71 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,418.65 crore in the Indian equity market on February 5, as per provisional data available on the NSE.
- 8 Feb 2021 8:54 AM IST
India's forex reserves jump $4.85 billion to record $590.18 billion
The country's foreign exchange reserves rose $4.85 billion to touch a record high of $590.18 billion in the week ended January 29, according to the latest data from the RBI. In the previous week ended January 22, the reserves rose by $1.09 billion to $585.33 billion.
In the reporting week ended January 29, the reserves rose on account of an increase in foreign currency assets, a major component of the overall reserves. FCA increased $5.03 billion to $547.22 billion, the Reserve Bank of India's (RBI) weekly data showed.
- 8 Feb 2021 8:54 AM IST
Indian bond yields hit five-month high on lack of immediate RBI support
Indian bond yields surged to their highest in more than five months on Friday as traders expressed their disappointment with the Reserve Bank of India for not announcing a concrete bond buyback calendar to absorb additional market borrowing.
- 8 Feb 2021 8:53 AM IST
SEBI notifies easier profitability rule for mutual fund sponsor
Capital market watchdog SEBI has notified easier profitability criteria for becoming a mutual fund sponsor to facilitate innovation and expansion in the sector.
The move comes after the SEBI board approved a proposal in this regard in December last year. Under the new norms, sponsors that are not fulfilling profitability criteria at the time of making an application would also be considered eligible to sponsor a mutual fund.
- 8 Feb 2021 8:53 AM IST
RBI likely to let market determine bond yields, says analysts
Given the massive fiscal expansion scheduled for the next financial year — Rs 12 lakh crore of government debt papers are set to flood the market — analysts are of the view that the RBI is likely to let the market determine the yields and may not fixate on keeping the 10-year yield below 6 percent as it did in 2020.
- 8 Feb 2021 8:52 AM IST
FPIs remain net buyers at Rs 12,266 crore
Foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 12,266 crore in the Indian market in the first five trading sessions of February, as positive sentiment post-Union Budget 2021 sparked a rally in investment.
As per FPI statistics available with depositories, overseas investors pumped in a net Rs 10,793 crore into equities and Rs 1,473 crore in the debt segment between February 1-5. During the period under review, the total net investment stood at Rs 12,266 crore.
- 8 Feb 2021 8:52 AM IST
MFs withdraw Rs 12,980 crore from equities in January on profit-booking
Continuing the selling spree for the eighth consecutive month, mutual funds pulled out Rs 12,980 crore from equities in January as surge in markets provided an opportunity to book profits. Overall, mutual funds withdrew a net of over Rs 56,400 crore in 2020, data available with the Securities and Exchange Board of India (Sebi) showed.
The markets, despite withdrawals from mutual funds in the past few months, have continued to rise as flows from FPIs have been robust.
- 8 Feb 2021 8:51 AM IST
Confident of reducing fiscal deficit to 4.5% of GDP by FY26: Expenditure Secretary
The government is confident of lowering the fiscal deficit to 4.5 percent of GDP by 2025-26 fiscal, considering a nominal GDP growth of 10 percent every year, Expenditure Secretary T V Somanathan has said. India has exceeded its fiscal deficit target of 3.5 percent in the current fiscal by a wide margin due to higher spendings to stimulate the economy amid the pandemic. The fiscal deficit -- the excess of government expenditure over its revenues -- has been pegged at 9.5 per cent of the gross domestic product (GDP) in the current fiscal ending March 31, as per the revised estimate.
