Market Live Updates Today: Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 38 points
The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 38 points.
Positive short-term texture
The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 38 points.
The BSE Sensex fell 106 points to 54,365, while the Nifty50 declined 62 points to 16,240 and formed a small-bodied bearish candle which resembles the Inverted Hammer kind of pattern formation on the daily charts.
US Markets
The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3 percent.
The Dow Jones Industrial Average fell 84.96 points, or 0.26 percent, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98 percent, to 11,737.67.
Asian Markets
Oil falls on uncertainty over Russian energy embargo by EU. Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union.
Brent crude was down 86 cents, or 1.1 percent, at $101.60 a barrel by 0002 GMT. US West Texas Intermediate crude fell 80 cents, or 0.8 percent, to $98.96 a barrel.
Live Updates
- 11 May 2022 4:15 AM GMT
China's April PPI +8.0% YoY, CPI +2.1% YoY
China's producer prices rose at the slowest pace in a year in April, despite the surge in global commodity prices, leaving room for more stimulus to shore up the flagging economy, which faces pressure from heavy COVID-19 curbs.
The producer price index (PPI) rose 8.0 percent year-on-year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, following an 8.3 percent rise in March and faster than the 7.7 percent growth tipped by a Reuters poll. The consumer price index (CPI) gained 2.1 percent from a year earlier, the fastest pace in five months, speeding up from 1.5 percent growth in March and beating expectations for a 1.8 percent rise.
- 11 May 2022 4:15 AM GMT
FII and DII data
Foreign institutional investors (FIIs) have net offloaded shares worth Rs 3,960.59 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 2,958.40 crore worth of shares on May 10, as per provisional data available on the NSE.
- 11 May 2022 4:14 AM GMT
SBI board approves raising up to $2 billion via bonds in FY23
The country’s largest lender SBI on Tuesday said its board has approved raising up to $2 billion (about Rs 15,430 crore) from the overseas market during the current fiscal to fund foreign business growth.
The central board has approved raising of funds through single or multiple tranches, SBI said in a regulatory filing. The long-term funds of up to $2 billion would be raised through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2022-23, it added.
- 11 May 2022 4:13 AM GMT
India's retail inflation likely accelerated to an 18-month high in April: Poll
India's retail inflation likely surged to an 18-month high in April, largely driven by rising fuel and food prices and staying well above the Reserve Bank of India's upper tolerance limit for a fourth consecutive month, a Reuters poll found.
The jump has been long anticipated following the Indian government's decision to wait until after key state elections in March to hike fuel prices. Energy prices globally have soared since Russia's invasion of Ukraine in late February.
Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in March and is expected to remain elevated due to higher vegetable and cooking oil prices globally.
- 11 May 2022 4:06 AM GMT
SEBI amends InvITs rule; specifies draft filing fees for initial offer, rights issue
Capital markets regulator Sebi came out with a new norm to implement draft filing fees to be paid by infrastructure investment trusts (InvITs) for initial offer and rights issue. Now InvITs are required to pay non-refundable filing fees of 0.1 per cent in case of initial offer and 0.05 per cent in case of rights issue of the total issue size, including green shoe option, at the time of filing of draft placement memorandum or offer letter with respect to private placement, The regulator said in a notification uploaded on its website on Tuesday.
Earlier, the InvIT was required to pay non-refundable filing fees of 0.1 per cent of the total issue size, irrespective of the type of issue. To give this effect, the Securities and Exchange Board of India (SEBI) has amended InvIT rules. InvITs are relatively new investment instruments in the Indian context but extremely popular in global markets.
- 11 May 2022 4:05 AM GMT
Indian Commodity Exchange ceases to be recognised bourse: SEBI
Capital markets regulator SEBI on Tuesday derecognised Indian Commodity Exchange Ltd saying the bourse does not have sufficient number of experienced staff and requisite financial capacity. Consequently, "ICEX shall cease to be a recognised stock exchange,” Sebi said in an order.
ICEX (Indian Commodity Exchange) was recognised as an exchange under forward contracts through a notification issued in October 2009 by the central government on a permanent basis.
The regulator has withdrawn its recognition after finding the bourse non-compliant on several grounds like net worth requirement, SEBI inspection observations and infrastructure. In its order, SEBI noted that net worth of ICEX was Rs 93.43 crore as on November 2021, which further reduced to Rs 86.45 crore as on January, 2022.
