Market Live Updates Today: Title: Trends on SGX Nifty indicate a positive opening for the index in India with a 65 points gain
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 65 points gain.
Profit booking in IT, FMCG stocks amid subdued trend
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 65 points gain.
The BSE Sensex rallied 460.37 points to 49,661.76 on April 7 while the Nifty50 climbed 135.50 points to 14,819.
Major averages hovered near unchanged on Wednesday, with the S&P 500 closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the U.S. central bank's position to remain patient before raising rates.
The Dow Jones Industrial Average rose 16.02 points, or 0.05%, to 33,446.26, the S&P 500 gained 6.01 points, or 0.15%, to 4,079.95 and the Nasdaq Composite dropped 9.54 points, or 0.07%, to 13,688.84.
Asian equities are poised to track Wall Street's cautious gains on Thursday after minutes from the Federal Reserve's latest meeting reiterated its commitment to keep interest rates low until the U.S. economy makes a more secure recovery.
Live Updates
- 8 April 2021 4:00 AM GMT
JPMorgan CEO Jamie Dimon sees US economic boom through 2023
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Wednesday the United States could be in store for an economic boom through 2023 if more adults get vaccinated and federal spending continues.
- 8 April 2021 3:58 AM GMT
Manufacturers expect improvement in business situation in FY22, shows RBI survey
Indian manufacturers perceive further improvement in production and overall business situation in the second and third quarter of the financial year 2022, according to the Reserve Bank of India’s (RBI) latest industrial outlook survey.
While respondents expect the capacity utilisation and employment conditions to improve, the input cost pressure to continue, albeit with marginal easing, and selling prices to harden gradually, they said.
- 8 April 2021 3:51 AM GMT
India unlikely to go along with US' global minimum corporate tax proposal
India may not be in favour of the proposal by United States Treasury Secretary Janet Yellen’s proposal of a global minimum corporate tax rate.
This is partly due to the fact that Finance Minister Nirmala Sitharaman had already cut corporate tax rates for existing and newly incorporated companies to 25 percent and 15 percent in September 2019. Policymakers feel that any further tweak to reflect a tax rate understanding between G-20 countries, at a time of Covid-19 induced economic uncertainty, will not help business sentiment.
- 8 April 2021 3:50 AM GMT
Fed expects to keep supporting economy 'for some time,' minutes show
Federal Reserve officials remain wary about the ongoing risks of the coronavirus pandemic and are committed to bolstering the economy until its recovery is more secure, minutes of the U.S. central bank’s latest policy meeting showed on Wednesday.
With their own forecasts projecting the strongest run of U.S. economic growth in nearly 40 years, “participants agreed that the economy remained far from the (Fed’s) longer-run goals and that the path ahead remained highly uncertain,” the minutes from the March 16-17 meeting said.
- 8 April 2021 3:50 AM GMT
Oil up on global economic recovery
Oil futures inched higher on Wednesday on an improving global economic outlook, but gains were capped by rising gasoline inventories and fears that new coronavirus outbreaks will weaken a global recovery in fuel demand.
Brent crude futures settled at $63.16 a barrel, up 42 cents, or 0.7%. U.S. West Texas Intermediate crude settled at $59.77 a barrel, gaining 44 cents, or 0.7%.
