Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 93 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 93 points gain.
image for illustrative purpose
The BSE Sensex rallied 2,314.84 points or 5 percent to 48,600.61 on February 1 after weakness seen in previous six consecutive sessions, while the Nifty50 climbed 646.60 points or 4.74 percent to 14,281.20.
According to pivot charts, the key support levels for the Nifty are placed at 13,849.9, followed by 13,418.6. If the index moves up, the key resistance levels to watch out for are 14,524.4 and 14,767.6.
The S&P 500 registered its biggest daily percentage gain since Nov. 24 on Monday after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares.
The Dow Jones Industrial Average rose 229.29 points, or 0.76%, to 30,211.91, the S&P 500 gained 59.62 points, or 1.61%, to 3,773.86 and the Nasdaq Composite added 332.70 points, or 2.55%, to 13,403.39.
Asian markets looked set for a modestly firmer start on Tuesday as global markets faced another chaotic week, with retail investors expanding their duel with Wall Street into commodities and driving up the price of silver.
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Live Updates
- 2 Feb 2021 8:45 AM IST
Government takes the Budget route to give SEBI more teeth
For the top honchos of the Securities and Exchange Board of India (SEBI), listening to the Union Budget is not only about knowing the government’s thinking on important policies related to the various aspects of the economy like finance, health, infrastructure, and agriculture among other things but also about the capital market regulator’s own jurisdiction, powers, and new initiatives.
The government seems to have taken a special liking for the Mumbai-based watchdog to ensure that there is at least one major announcement in the Budget related to the regulator that monitors key sections of the capital market like equities, commodities, and currencies, along with a vast number of mutual funds and foreign investors.
- 2 Feb 2021 8:45 AM IST
US manufacturing sector slows
US manufacturing activity slowed slightly in January, while a measure of prices paid by factories for raw materials and other inputs jumped to its highest level in nearly 10 years, strengthening expectations inflation will perk up this year.
The Institute for Supply Management (ISM) said on Monday its index of national factory activity fell to a reading of 58.7 last month from 60.5 in December. A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. Economists polled by Reuters had forecast the index at 60 in January. The ISM revised data going back to 2012.
