Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 37 points gain

Sebi modifies framework for limited purpose clearing corporation by MFs

Markets regulator Sebi on Tuesday tweaked its framework pertaining to contribution of asset management companies (AMCs) for setting up of limited purpose clearing corporation by mutual funds. The regulator had in February issued guidelines wherein AMCs were required to contribute Rs 150 crore as share capital for setting up of limited purpose clearing corporation (LPCC) by mutual funds.

BSE raises over Rs 18 lakh crore for India’s corporate sector in FY21

Leading exchange BSE raised Rs 18,56,366 crores ($252.95 billion) worth of funds for the Indian corporate sector through the listing of equities, bonds, REITs, InvITs and commercial papers in FY21, the exchange said in a note on April 6.

Despite the unprecedented outbreak of COVID-19, the fundraising by BSE was 53 percent higher than the funds raised in FY21.

"Rs 18,56,366 crore worth of funds have been mobilized through the listing of equity, bonds, REITs, InvITs and commercial papers in FY21 by BSE for Indian corporate sector despite the global pandemic wave as compared to Rs 12,14,680 crores in FY20," BSE said.

Data shows economy well-poised to deal with second COVID wave; but concerns remain

The sense of déjà vu is inescapable. Just like the beginning of the last financial year in April 2020, this month brings with it an increasing number of new COVID-19 cases. And while a nationwide lockdown is ruled out for now, simply because of the damage that might do to the economy, localised curfews and lockdowns have begun.

After a steady rise over the previous three months, growth in manufacturing activity hit a speed breaker at the end of the financial year in March, as is evident from the PMI index. The IHS Markit Manufacturing PMI fell to a 7-month low of 55.4 in March, down from 57.4 in September. While manufacturers have now seen sales rise for the eighth-straight month, fuelled by a growth in both domestic orders and export contracts, the pace of growth has slowed.

Oil prices rise on stronger economic outlook, U.S. stockpile draw

Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell.

Brent crude futures for June rose by 34 cents, or 0.5%, to $63.08 a barrel by 0123 GMT while U.S. West Texas Intermediate crude for May was up 32 cents, or 0.5%, to $59.65.