“The fundamental factors influencing markets are changing fast. There are both positives & negatives. On the positive side, the better than expected job numbers & economic recovery in the US is a big positive. This will support global growth, which, in turn, will be a boost for stock markets. On the other hand, back home in India, the fast-rising Covid cases is a cause of concern. Restriction of economic activity in many areas might impact growth recovery. But, as of now, there are no signs of a slowdown in the economy. Macro numbers like GST collection (record Rs 1.24 lakh cr in March) and auto sales numbers in March indicate a strong economic rebound. Q4 results will be very good and this can impart resilience to markets. How the Covid cases pan out, going forward, is a crucial factor,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Among sectoral indices, only Nifty IT and Nifty Metal were the gainers. Nifty Media was down 2.46%.
Sensex and Nifty began trading down in the negative territory on Monday morning. Sensex gave up 50,000 mark and fell over 300 points while Nifty 50 was below 14,800. IT stocks were surging higher.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were unchanged today. The price of petrol and diesel has been the same for nearly a week now after falling across major cities on March 30, 2021. Nation Capital Delhi was quoting a petrol price of Rs 90.56 per litre, diesel in the city was priced at Rs 80.87 per litre. Fuel prices remain the highest in Mumbai at Rs 96.98 per litre for Petrol. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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Sensex gave up 50,000 while Nifty was still above 14,850 mark during the pre-open session on Monday.
Sensex was still above 50,000 in the pre-open session while Nifty 50 moved between gains and losses but holding above 14,800 levels.
Indian share market benchmarks BSE Sensex and Nifty 50 were likely to start the week on a negative note due to rising COVID-19 cases and stricter curbs in the country. This week may witness volatility as earnings season starts from today. Moreover, market participants will track global cues, following the announcement of the investment plan by US President Joe Biden. Among other major events, the Monetary Policy Committee headed by the RBI Governor is scheduled to meet from April 5-7. The PMI data for the manufacturing and services sectors are also scheduled to be announced this week.
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Commodity prices traded firm during the previous week while most of the commodities in the non-agro segment witnessed recovery. Bullion prices recovered from the support levels on safe-haven buying while crude oil futures traded volatile on OPEC talks. Base metals witnessed mixed trade keeping the firm trading range on China demand.
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Nifty futures were trading 70.50 points or 0.47 per cent down at 14,922 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50 on Monday. In the previous week, Indian stock markets were closed on Monday (Holi) and Friday (Good Friday) for holidays. The 30-share index gained 1,021.33 points or 2 per cent during the week.
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One of India’s largest cryptocurrency exchanges, WazirX, faced an outage late Sunday night. The Binance-owned exchange’s founder and CEO, Nischal Shetty took to Twitter to allay fears among investors saying that their wallets and money was safe and that the exchange was looking to fix the problem as soon as possible. WazirX is one of the many cryptocurrency exchanges investors use to trade in Bitcoin, Ethereum, and even the exchange’s own tokens WRX.
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SGX Nifty was down 70 points during the early hours of Monday. Nifty futures trading lower hints at a negative start for domestic markets. However, SGX Nifty has recouped after being down 80 points earlier in the day.
Baseline projection for FY22 (year-end March 2022) GDP growth is 13.5% yo-y, up from an estimated -7.4% in FY21. This is underpinned by medium-term tailwinds from the lagged impact of easy financial conditions, fiscal activism, strong global growth and continued vaccine momentum alongside activity normalisation. Our annual growth assumptions are based on expectation of GDP growth picking up to 1.0% y-o-y in Q1 2021 from 0.4% in Q4 2020, before escalating to 34.5% in Q2, reflecting favourable base effects. This inherently projects sequential momentum of 4.3% q-o-q (sa) in Q1 (from 6.3% in Q4), which subsequently moderates to 0.5% in Q2.
