Sensex Today live: Just In: ICRA cuts the rating outlook of Adani Total Gas to negative from stable
09:05 PM
US stocks climb as yields pull back
Wall Street indexes have had a volatile start to March after the latest economic data pointed to rising raw material costs and a resilient labor market, while signaling that the U.S. central bank was yet to see the desired impact of its policy tightening measures on inflation.
07:55 PM
Softer dollar sets gold on track for best week since mid-January
Spot gold was up 0.5% at $1,844.60 an ounce by 1244 GMT, after hitting its highest since Feb. 15. Prices have risen about 2% so far this week.
U.S. gold futures rose 0.7% to $1,852.60.
07:42 PM
Back In Profit! Market value of LIC investment in Adani stocks rises to Rs 39,000 crore
Earlier in a disclosure to stock exchanges in January-end, LIC had declared that the total purchase value of equity, purchased over the last many years, under all the Adani group companies is Rs 30,127 crore and the market value for the same as at close of market hours on January 27 was Rs 56,142 crore.
Out of 10 Adani Group companies, state-owned LIC owns stake in 7 companies – Adani Enterprises, Adani Ports, Adani Total Gas, Adani Transmission, Adani Green Energy, ACC and Ambuja Cement. Going by the December quarter shareholding pattern, the value of total investments by LIC in these stocks is now about Rs 39,000 crore.
05:41 PM
Tech View: Nifty forms green candles on daily, weekly charts. What should traders do next week
The momentum oscillator RSI was in a bullish crossover on the daily timeframe. Nifty is in an attempt of staging an upside breakout of the initial hurdle at 17,600 levels and a move above this area could open the next upside resistance of around 17,800 levels in the near term, chart readers said.
What should traders do? Here’s what analysts said:
Rupak De, Senior Technical Analyst at LKP Securities
On the daily chart, the index has given a consolidation breakout, suggesting a rise in optimism. On the higher end, it found resistance around the 14-day moving average. The short-term trend remains negative as the index has closed below the critical short-term moving average. On the higher end, the Nifty may move higher once it moves above 17,650; on the higher end, resistance is visible at 17,800. On the lower end, support is visible at 17,470.
02:33 PM
Global stocks follow Wall St higher on interest rate hopes
Global stock markets advanced Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared.
London, Shanghai, Frankfurt and Tokyo gained. Oil prices edged higher.
02:23 PM
IPO WATCH | Divgi TorqTransfer IPO sails through on final day; GMP rises
The retail portion was subscribed 2.75 times, while non-institutional investors (NIIs) made bids for 57% of the reserved part. Qualified Institutional Buyers (QIBs) who largely stayed on the sidelines for the past two days, came to the party on last day by subscribing 69%.
12:32 PM
IPO WATCH | Divgi TorqTransfer IPO: Issue subscribed 57% so far on Day 3; GMP rises
The retail portion was subscribed 2.31 times, while non-institutional investors (NIIs) made bids for 43% of the reserved part. Qualified Institutional Buyers (QIBs) largely stayed on the sidelines so far, subscribing just 6%.
12:25 PM
Adani to hold fixed-income road shows in London, Dubai, US : Agencies
India’s Adani Group will hold fixed-income road shows this month in London, Dubai, and several cities in the United States, according to a document seen by Reuters, as the conglomerate tries to muster up confidence drained by a U.S. short-seller report.Adani group management, including group Chief Financial Officer Jugeshinder Singh, will attend the road shows which will run between March 7 to March 15, the document showed.
12:14 PM
Crypto Price Today: Bitcoin falls below $22,500; Litecoin, Dogecoin tumble up to 8%
“In the past 24 hours, Bitcoin, Ethereum, and other cryptocurrencies have dropped in value due to the release of US manufacturing data and uncertainties concerning access to banking services for crypto companies in the US Furthermore, the fallout of Silvergate has also played a role in the decline. Bitcoin has reached its lowest point in about two weeks and is trading below US$23,000 at US$22,300,” Edul Patel, Co-founder and CEO at Mudrex, said.
11:36 AM
Gold rate today: Yellow metal edges higher, volatility seen ahead
Analysts stated that interest rate hikes to contain high inflation discourage investors from placing money in non-yielding assets such as gold.
In the international markets, spot gold was up 0.2% at $1,838.84 per ounce, rising about 1.5% so far in the week. US gold futures rose 0.2% to $1,844.20.
10:13 AM
India bond yields tad lower on value buying in longer-end
The 10-year benchmark 7.26% 2032 bond yield was at 7.4277% as of 10:00 a.m. IST, after closing higher at 7.4386% on Thursday.
“There is some demand from long-term investors that are adding duration papers, which is seeing some pullback in yields after yesterday’s rise,” a trader with a private bank said.
09:57 AM
GQG Partners sees shares fall as much as 3% after Adani investment
The Florida-based firm bought 3.4% of Adani Enterprises Ltd for about $662 million, 4.1% of Adani Ports and Special Economic Zone Ltd for $640 million, 2.5% of Adani Transmission Ltd for $230 million, and 3.5% of Adani Green Energy Ltd for $340 million, showed an Adani regulatory filing.
By mid-afternoon, GQG shares were off 2.6% whereas the S&P/ASX200 benchmark index was up 0.42%.
The US based investment firm GQG partners investing Rs 15446 crores in four Adani stocks might influence the market positively. This money is mainly to be used for retiring debt, which means that the banks that had funded Adani companies will not face any stress. This is positive news for Bank Nifty. However, the market will continue to be under pressure from FII selling which yesterday was Rs 2676 crores excluding the GQG bulk buying of Adani stocks. The US 10-year yield has moved above 4 percent. FIIs can be expected to sell more since this risk-free return is quite attractive considering the muted expectations from the equity markets in the short-term. FII selling will be an opportunity for long-term investors to accumulate high quality stocks, particularly in banking.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:24 AM
Sensex Today Live: Nikkei hits near 3-month high after Wall Street gains; Fast Retailing jumps
The Nikkei ended the morning session 1.45% higher at 27,898.37 after hitting its highest level since Dec. 15 at 27,910.36. The index has gained 1.65% so far in the week.
The broader Topix rose 1.26% to 2,019.67, adding 1.54% so far in the week.
08:30 AM
Asian stocks up on hopes Fed will adopt slow approach to more hikes
Asian shares rose on Friday after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China.
08:28 AM
Oil prices head for weekly gain on China growth hopes
Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China’s factory activity offset growing concerns about rising U.S. crude stocks and potential rate hikes in Europe.
07:34 AM
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 106 points, or 0.61 per cent, higher at 17,461, signaling that Dalal Street was headed for a positive start on Friday.
07:33 AM
Tech View: Nifty charts blink red once again
Engulfing the up move of the previous session, a long bear candle was formed on the daily chart today. Technically, this pattern indicates lack of strength in the recent upside bounce and the weakness is likely to continue for the short term, said Nagaraj Shetti of HDFC Securities.
07:33 AM
Tokyo stocks open higher on US gains, cheap yen
Tokyo stocks opened higher Friday, helped by a cheap yen and US rallies on bargain-hunting despite worries over tighter US monetary policy.The benchmark Nikkei 225 index was up 0.70 percent, or 192.37 points, at 27,691.24 in early trade, while the broader Topix index added 0.64 percent, or 12.73 points, to 2,007.30.
07:33 AM
US stocks gain as Bostic backs quarter-point hike
U.S. stocks rallied on Thursday, as Treasury yields pulled back from earlier highs following comments from Atlanta Federal Reserve President Raphael Bostic about his favored path of interest rate hikes for the central bank.
07:33 AM
Rupee falls 11 paise to close at 82.60 against US dollar
The rupee depreciated by 11 paise to close at 82.60 against the US currency on Thursday as a stronger dollar in the overseas market and a muted trend in domestic equities weighed on investor sentiments.
07:32 AM
Sensex, Nifty on Thursday
The 30-share BSE benchmark Sensex declined 502 points or 0.84% to settle at 58,909. The broader NSE Nifty dropped 129 points or 0.74% to end at 17,321.
