Market Live Updates Today: The Indian stock market is expected to open lower as trends on SGX Nifty indicate a negative
Market Live Updates
On November 22, the BSE Sensex crashed 1,170.12 points to close at 58,465.89, while the Nifty50 fell 348 points to 17,416.50 and formed large bearish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,196.27, followed by 16,975.94. If the index moves up, the key resistance levels to watch out for are 17,721.07 and 18,025.53.
US Markets
The S&P 500 ended lower and the Nasdaq tumbled deep into negative territory on Monday after both earlier hit record highs following the announcement of a second term for Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average ended slightly higher.
The Dow Jones Industrial Average rose 0.05% to end at 35,619.25 points, while the S&P 500 lost 0.32% to 4,682.94. The Nasdaq Composite dropped 1.26% to 15,854.76.
The S&P 500 value index climbed 0.6%, strongly outperforming the S&P 500 growth index's 1% dip.
Asian Markets
Asian Markets are trading mostly lower with Hang Seng down over 1 percent, and Kospi index down 0.55 percent. The Taiwan Weighted index down 0.3 percent.
SGX Nifty
Trends on SGX Nifty indicate a lower opening for the index in India with a 72.50 points loss. The Nifty futures were trading at 17,373.50 on the Singaporean Exchange around 07:40 hours IST.
Live Updates
- 23 Nov 2021 3:57 AM GMT
Oil prices rise on reports that OPEC+ could reassess output
Oil prices rose on Monday, rebounding from recent losses, on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand.
Brent crude futures rose 97 cents, or 1.2%, to $79.86 a barrel by 11:10 a.m. EST (1610 GMT). WTI crude futures rose 89 cents, or 1.2%, to $76.83 a barrel.
Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest levels since Oct. 1.
- 23 Nov 2021 3:56 AM GMT
Japan, India working on oil-stock release with US, timing unclear: Sources
Japanese and Indian officials are working on ways to release national reserves of crude oil in tandem with the United States and other major economies, but the timing of such a release remains unclear, seven government sources with knowledge of the plans told Reuters.
Such an announcement could come as early as November 23, according to a source familiar with the discussions, but White House and US energy department officials said no official decision on a release had been made.
US President Joe Biden has asked China, India, South Korea and Japan for a coordinated oil stocks release as US gasoline prices soar and his approval ratings slump ahead of next year’s congressional elections.
- 23 Nov 2021 3:56 AM GMT
Exports rise 18.8% to $20 billion so far in November
The country's exports rose 18.8 per cent to $20.01 billion during the three week period of this month (November 1-21), due to healthy growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery, according to the preliminary data of the commerce ministry. Imports during the period increased 45.34 per cent to $35.11 billion as against $24.15 billion during the corresponding period last year, the data showed.
The exports are growing at a healthy rate and are expected to cross $400 billion by the end of the current fiscal. In October, the outbound shipments jumped 43 per cent to $35.65 billion, while the trade deficit widened to $19.73 billion during the month.
- 23 Nov 2021 3:55 AM GMT
MedPlus Health, Fusion Micro, RateGain Travel, 3 others get Sebi nod for IPO
The flurry of IPOs is expected to continue in the coming months as MedPlus Health Services, RateGain Travel Technologies and Puranik Builders are among the six companies that received approval from the capital markets regulator Sebi to launch their public offerings. The regulator has also approved IPO papers filed by Tracxn Technologies, Fusion Microfinance, and Prudent Corporate Advisory Services.
RateGain Travel Technologies and Fusion Microfinance filed their draft red herring prospectus on August 18 and August 11, 2021, respectively, and received the approval on November 16. The regulator approved public issues of MedPlus Health Services and Tracxn Technologies on November 17, which had both filed draft papers on August 17 each.
Prudent Corporate Advisory Services filed its DRHP on August 17 and received approval by Sebi on November 18. Puranik Builders refiled its papers on September 21, which was also approved on Thursday.
- 23 Nov 2021 3:46 AM GMT
Supreme Court orders NCLT to complete Jaypee Infratech’s insolvency proceedings within two months
The Supreme Court on November 22 directed NCLT to complete the Jaypee Infratech insolvency proceedings within two months. The order was passed by a two-judge bench of Justice AM Khanwilkar and Justice CT Ravikumar that was hearing a petition filed by homebuyers in the Jaypee Kensington Boulevard project.
Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain had filed Mumbai-based Suraksha Group’s resolution before the National Company Law Tribunal on July 8. Under its plan, Suraksha ARC has proposed to infuse Rs 125-crore worth equity into Jaypee Infratech. It also said that it will avail Rs 3,000 crore in loans to complete construction of the residential units which have been pending for over a decade. It plans to finish construction work within 42 months after taking over Jaypee Infratech.
- 23 Nov 2021 3:46 AM GMT
India's GDP likely to grow 8.1% in Q2 FY22: SBI report
The country's GDP growth is likely to be around 8.1 percent in the second quarter of the current financial year and in the range of 9.3-9.6 per cent during fiscal 2022, according to an SBI research report. In the first quarter of FY22, the economy grew 20.1 per cent. For the fiscal 2022, RBI has estimated real GDP growth to be at 9.5 percent — 7.9 percent in Q2, 6.8 percent in Q3 and 6.1 percent in Q4.
"As per SBI's Nowcasting Model, the forecasted GDP growth for Q2 FY22 would be 8.1 percent, with an upward bias. The full year (FY22) GDP growth is now revised upwards to 9.3-9.6 percent from our earlier estimate of 8.5-9 percent," the research report, Ecowrap, said. The projected 8.1 percent growth rate in Q2 FY22 is the highest growth across all economies, it said.
