Market
Updated : 2021-02-25 08:04:26
The Indian market is likely to open higher on Thursday following a rally in global markets. At 7:15 am, the SGX Nifty was trading 227.50 points or 1.54 percent higher at 15,033.50, indicating a positive start for the Sensex and Nifty50.
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1. Wall Street: Stocks closed broadly higher on Wall Street after shaking off a wobbly start. The S&P 500 rose 44.06 points, or 1.1 percent, to 3,925.43. The Dow Jones Industrial Average rose 424.51 points, or 1.4 percent, to 31,961.86, another all-time high for the index. The Nasdaq rose 132.77 points, or 1 percent, to 13,597.97.
2. Asian markets: Asian equities rose in trade on Thursday after DJIA surged to a record closing high overnight. In early Asia trade, Australia’s S&P/ASX 200 was gained 0.94 percent, South Korea’s KOSPI rose 2.6 percent while Japan’s Nikkei 225 jumped 1.6 percent. Hong Kong’s Hang Seng index rose 0.62 percent.
3. D-Street: The Indian indices ended 2 percent higher on Wednesday, in an extended trading session, led mainly by gains in banking and financials stocks with the Nifty Bank surging over 1,400 points. The Sensex ended 1,030 points higher at 50,781 while the Nifty50 rose 274 points to settle at 14,982.
4. Oil: Oil prices climbed on Wednesday to fresh 13-month highs after US government data showed a drop in crude output after a deep freeze disrupted production last week. Brent crude futures gained 2.4 percent, to $66.96 a barrel by 1627 GMT. Brent hit $67.20 a barrel, its highest since Jan. 8, 2020. US West Texas Intermediate (WTI) crude futures rose 2.2 percent, to $63.01 a barrel. WTI reached $63.32, its highest since Jan. 8, 2020.
5. Rupee: The rupee furthered its gains by another 11 paise to settle at 72.35 against the US dollar on Wednesday amid persistent selling of the greenback by banks and exporters. At the interbank forex market, the local unit opened at 72.35 against the greenback and witnessed an intra-day high of 72.26 and a low of 72.41. It finally ended at 72.35 against the American currency, registering a rise of 11 paise from its previous close.
6. Gold: Gold prices on Wednesday fell Rs 148 to Rs 46,307 per 10 grams in the national capital, due to overnight selling in global prices and rupee appreciation, according to HDFC Securities. The precious metal had closed at Rs 46,455 per 10 grams in the previous session.
7. NSE trading glitch: Trading on the NSE was halted at 11:40 am yesterday because of a technical glitch. Market hours were extended till 5:00 PM on the BSE and the NSE.
8. GameStop Mania: Shares of GameStop surged more than 100 percent on Wednesday as investors poured into the brick-and-mortar retailer amid a C-suite shake-up.
9. Suzuki: Suzuki Motor Corp’s 91-year old chairman, Osamu Suzuki, is retiring, the Nikkei newspaper reported on Wednesday. The chairman told some executives about his intention to retire, the Nikkei reported.
10. Private banks: Private banks can now participate in government businesses, as FM Sitharaman lifted the embargo on the grant on Wednesday. Taking to Twitter, Sitharaman said private banks can now be equal partners in the development of the Indian economy, furthering govt’s social sector initiatives, and enhancing customer convenience.
