Live Market Updates: Trends on SGX Nifty indicate a positive opening for the index in India with a 66 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 66 points gain.
The BSE Sensex jumped 424.04 points to 48,677.55, while the Nifty50 rose 121.40 points to 14,617.90.
Wall Street's main indexes and the Dow hit a record high on Wednesday, as growth stocks bounced from a steep selloff in the previous session and a survey showed private jobs rose in April.
The Dow Jones Industrial Average was up 155.88 points, or 0.46%, at 34,288.91, the S&P 500 was up 22.33 points, or 0.54%, at 4,186.99 and the Nasdaq Composite was up 85.27 points, or 0.63%, at 13,718.77.
Asian markets were mostly higher as investors look ahead to the U.S. jobs report due later this week for clues about how long the Fed will stay on hold. Nikkei 225 jumped 1.98% while the Topix index was up 1.97%. South Korea's Kospi rose 0.7%. In Hong Kong, the Hang Seng index was up 1.15%.
CCI orders probe against Tata Motors for alleged unfair business practices
The Competition Commission has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd (opposite parties).
MFIs welcome RBI decision to give priority tag for SFB loans to smaller microlenders, but want more
Microfinance industry officials have welcomed the steps announced by the Reserve Bank of India (RBI) to support smaller microlenders hit severely by the second wave of the pandemic. However, industry was expecting more measures including postponement of payments by borrowers at least for few months considering the difficult operating environment.
COVID-19 Second Wave impact: Hiring activity declines 15%, says Naukri JobSpeak
The Second Wave of COVID-19 and allied lockdown-like restrictions have impacted employment across the country. According to the Naukri JobSpeak Index, there was a 15 percent dip in hiring activity sequentially for April 2021.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,110.50 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 240.61 crore in the Indian equity market on May 5, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Two stocks - Sun TV Network and Tata Chemicals - are under the F&O ban for May 6. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.