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Market Live Updates Today: Trends on SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 223 points

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 223 points.

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The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 223 points.

The BSE Sensex plunged 1,416 points, or 2.6 percent, to 52,792, while the Nifty50 declined 431 points or 2.65 percent to 15,809 and formed bearish candle on the daily charts.

As per the pivot charts, the key support level for the Nifty is placed at 15,728, followed by 15,647. If the index moves up, the key resistance levels to watch out for are 15,938, followed by 16,066.

US Markets

Wall Street ended lower after a volatile session on Thursday, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates.

The S&P 500 declined 0.58% to end the session at 3,900.79 points. The Nasdaq declined 0.26% to 11,388.50 points, while the Dow Jones Industrial Average declined 0.75% to 31,253.13 points.

Asian Markets

Asian shares jumped in early trade on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth.

China cut its five-year loan prime rate (LPR) by 15 basis points on Friday morning, a sharper cut than had been expected, as authorities seek to cushion an economic slowdown, though it left the one-year LPR unchanged. The five-year rate influences the pricing of mortgages.

MSCI's broadest index of Asia-Pacific shares outside Japan quickly built on early gains after the cut, and was last up 1.4%.

Live Updates

  • 20 May 2022 3:49 AM GMT

    FII and DII data

    Foreign institutional investors (FIIs) have net sold shares worth Rs 4,899.92 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 3,225.54 crore worth of shares on May 19, as per provisional data available on the NSE.

  • 20 May 2022 3:48 AM GMT

    Sugar exports up 64% to 71 lakh tonnes during October 2021 to April 2022 period: ISMA

    Sugar exports have risen by 64 percent to 71 lakh tonnes during October 2021-April 2022 period on better demand for the Indian sweetener in global markets, according to industry body ISMA. In a statement, the Indian Sugar Mills Association (ISMA) said that 43.19 lakh tonnes of sugar were exported during the corresponding period of the last year.

    "As per port information and market reports, over 85 lakh tonnes of contracts for export of sugar have already been entered into so far.

  • 20 May 2022 3:48 AM GMT

    SEBI streamlines process of trading in Right Entitlements on exchange platform

    Capital markets regulator SEBI on Thursday streamlined the process of rights issue pertaining to minimum time period between closure of trading in Right Entitlements (RE) on stock exchange platform and closure of such issue.

    Under the new framework, trading in REs on the secondary market platform of stock exchanges will commence along with the opening of the issue and will be closed at least three days prior to the closure of the rights issue, according to a circular.

  • 20 May 2022 3:47 AM GMT

    US weekly jobless claims rise; continuing claims lowest since 1969

    New claims for U.S. unemployment benefits unexpectedly rose last week, but the labor market remains tight amid worker shortages, with the number of Americans on jobless rolls at its lowest since 1969 in early May.

    Initial claims for state unemployment benefits increased 21,000 to a seasonally adjusted 218,000 for the week ended May 14, the highest level since January, the Labor Department said on Thursday. Economists polled by Reuters had forecast 200,000 applications for the latest week.

  • 20 May 2022 3:46 AM GMT

    Oil steady as economic worries offset possible China demand rise

    Oil prices were little changed on Friday as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns.

    Brent futures for July delivery fell 36 cents, or 0.3 percent, to $111.68 a barrel by 0015 GMT, while US West Texas Intermediate (WTI) crude fell 36 cents, or 0.3 percent, to $111.85 on its last day as the front-month.

Dwaipayan Bhattacharjee
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