Market Live Updates Today: Trends on SGX Nifty indicate a flat to positive start for the broader index in India
The Indian stock market is expected to open in the red amid weak global markets. However, SGX Nifty indicates a flat to positive opening for the index in India with a 37 points gain
Market Live Updates
The Indian stock market is expected to open in the red amid weak global markets. However, SGX Nifty indicates a flat to positive opening for the index in India with a 37 points gain.
According to pivot charts, the key support levels for the Nifty are placed at 16,889.6, followed by 16,752.8. If the index moves up, the key resistance levels to watch out for are 17,259.3 and 17,492.2.
US Markets
US stocks closed lower on Friday, with the Dow and S&P 500 suffering their biggest one-day percentage drops in months, and pandemic-hit sectors that had gained from a reopening falling sharply after a new coronavirus mutation was found.
The Dow Jones Industrial Average fell 905.04 points, or 2.53%, to 34,899.34; the S&P 500 lost 106.84 points, or 2.27%, to 4,594.62; and the Nasdaq Composite dropped 353.57 points, or 2.23%, to 15,491.66.
Asian Markets
Asian markets are trading lower with Straits Times, Taiwan Weighted down over 1 percent each, while Shanghai Composite, Kospi and Hang Seng down 0.5 percent each.
SGX Nifty
Trends on SGX Nifty indicate a flat to positive start for the broader index in India, with a gain of 37 points or 0.32 percent. The Nifty futures were trading around 17,080.50 level on the Singaporean Exchange.
Live Updates
- 29 Nov 2021 7:36 AM GMT
Tight regulations await top NBFCs looking for entry into banking
The Reserve Bank of India 26 accepted 21 out of 33 recommendations of an internal working group on the ownership guidelines and corporate structure of private sector banks.
For non-banking financial companies (NBFCs) looking to convert into a universal bank, minimum requirement on the track record of the experience of promoting entity, including for a converting NBFC, may continue at ten years for universal banks, the RBI said.
On the eligibility of promoters, the RBI said it may, as part of the framework for scale-based regulation of NBFCs, consider putting in place a tighter, bank-like regulatory framework for large NBFCs.
The initial recommendations by the internal working group were - allowing well-run large NBFCs with an asset size of Rs 50,000 crore and above, including those owned by corporate houses, may be permitted to convert to banks provided they complete 10 years of operations and meet the due diligence criteria.
- 29 Nov 2021 7:36 AM GMT
FPIs net buyers in November, invest Rs 5,319 crore
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 5,319 crore in Indian capital markets despite a massive correction seen in equities over the last fortnight. In October, they were net sellers to the tune of Rs 12,437 crore.
