Market
Updated : 2021-02-12 07:56:14
The Indian market is likely to open a little lower on Friday as the trend on SGX Nifty indicates a mildly negative start for the broader index in India. The Nifty futures were trading 20.00 points or 0.13 percent lower at the 15,177.00 level on the Singaporean Exchange at 7:00 am.
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1. Wall Street: The S&P 500 and the Nasdaq rose on Thursday, just shy of record highs with investors betting on more fiscal stimulus to ride out a coronavirus-driven recession as data showed a stalling recovery in the labor market. At 11:50 a.m. ET, the Dow Jones Industrial Average rose 4.43 points, or 0.01 percent, to 31,442.23, the S&P 500 gained 7.70 points, or 0.20 percent, to 3,917.58 and the Nasdaq Composite gained 74.71 points, or 0.53 percent, to 14,047.56.
2. Asian markets: Multiple major markets in Asia remain closed, but the markets that were open saw muted morning trade. Hong Kong’s Hang Seng index rose 0.45 percent on the day to 30,173.57. In Australia, the S&P/ASX 200 finished its trading day 0.1 percent lower at 6,850.10. MSCI’s broadest index of Asia-Pacific rose 0.2 percent.
3. Dalal Street: Indian indices ended higher on Thursday, snapping 2 days of losses, mainly led by a rise in heavyweight Reliance Industries. Gains in FMCG, IT and metal sectors also added to the sentiment. The Sensex ended 222 points higher at 51,531 while the Nifty rose 67 points to settle at 15,173. Meanwhile, broader markets were mixed for the day with the midcap index up 0.2 percent and smallcap index up 1.8 percent.
4. Oil: Oil prices steadied on Thursday from a record streak of gains after both OPEC and the International Energy Agency (IEA) said renewed lockdowns and the emergence of new coronavirus variants reduced the prospect of a swift demand recovery. Brent futures fell 0.1 percent, to $61.40 a barrel by 11:21 a.m. EST (1621 GMT), while US West Texas Intermediate (WTI) crude fell 0.3 percent, to $58.51.
5. Rupee: The Indian rupee ended 3 paise lower at 72.87 against the US dollar on Thursday amid a firm trend in the domestic equity markets. At the interbank forex market, the local unit opened at 72.81 against the greenback and witnessed an intra-day high of 72.65 and a low of 72.87. It finally ended at 72.87 against the American currency, registering a fall of 3 paise over its previous close. On Wednesday, the rupee had finished at 72.84.
6. Gold: Gold in the national capital gained marginally by Rs 36 to Rs 47,509 per 10 gram on Thursday in line with firm global prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,473 per 10 gram. Silver also jumped Rs 454 to Rs 69,030 per kg, from Rs 68,576 per kg in the previous trade.
7. Bitcoin: The price of this digital currency soared past the $48,000 level and hit an intraday record as a new announcement by the Bank of New York Mellon boosted investor confidence. The bank has announced it will provide custody services for digital assets.
8. Citizenship Amendment Act: Union Home Minister Amit Shah on Thursday said the Central government will start granting citizenship to refugees under the Citizenship Amendment Act (CAA) after the COVID-19 vaccination drive ends.
9. SEBI: Sebi has slapped fines totalling Rs 80 lakh on four entities for diverting proceeds from the initial public offer of Birla Pacific Medspa Ltd. A fine of Rs 20 lakh each has been imposed on Ketan Vora, Proprietor of New Fashion, K V Impex, Jigar Vora, Proprietor of J C Enterprise, and Dinesh Vora, HUF Proprietor of Vora Associates (noticees).
10. COVID-19: The government on Thursday warned that a fake website — mohfw.xyz — is claiming to offer Covid-19 vaccine for Rs 4,000-6,000, impersonating as official health ministry portal. It has appealed to disseminate the information to avoid getting duped by this fraudulent website.
