Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 105 points
Market Live Updates
The benchmark indices erased all the gains of the previous two days in the following two sessions on Friday and Monday. The BSE Sensex corrected 617 points to 56,580, while the Nifty50 plunged 218 points to 16,954 and formed yet another bearish candle on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 16,877, followed by 16,800. If the index moves up, the key resistance levels to watch out for are 17,043 and 17,131.
Wall Street rose on Monday, with the Nasdaq ending sharply higher after Twitter agreed to be bought by billionaire Elon Musk, sparking a late day rally in growth stocks.
Twitter ended up 5.6 percent after announcing it would be bought by Musk in a deal that will shift control of the social media giant to the world's richest person.
The Dow Jones Industrial Average rose 0.7 percent to end at 34,049.46 points, while the S&P 500 gained 0.57 percent to 4,296.12. The Nasdaq Composite climbed 1.29 percent to 13,004.85.
Asian Markets
Markets in Asia-Pacific traded mixed on Tuesday morning as investors are set to closely watch market reaction to COVID fears in China as Beijing expands mass testing.
Japan's Nikkei 225 rose 0.17 percent, while the Topix was flat. South Korea's Kospi rose 0.55 percent. Australian stocks however fell as trading resumed from a holiday on Monday. The S&P/ASX 200 plummeted 2.34 percent in early trade.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 105 points. The Nifty futures were trading around 17,100 levels on the Singaporean exchange.
Live Updates
- 26 April 2022 3:40 AM GMT
Results on April 26
Bajaj Finance, HDFC Life Insurance Company, Aditya Birla Sun Life AMC, KPIT Technologies, Macrotech Developers, Mahindra Logistics, Nippon Life India Asset Management, NELCO, Atul, AU Small Finance Bank, Gateway Distriparks, IIFL Securities, Sanofi India, Schaeffler India, Som Distilleries & Breweries, Tata Coffee, Tata Teleservices (Maharashtra), United Breweries, UTI Asset Management Company, VST Industries, D-Link (India), International Travel House, Gujarat Hotels, Jindal Hotels, JK Agri Genetics, and Jumbo Bag are slated to release their quarterly earnings on April 26.
- 26 April 2022 3:40 AM GMT
Elon Musk gets Twitter for $44 billion
Elon Musk clinched a deal to buy Twitter Inc for $44 billion cash on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.
Under pressure, Twitter started negotiating with Musk to buy the company at his proposed $54.20 per share price. Twitter shares rose 5.7 percent on Monday to close at $51.70. The deal represents a near 40 percent premium to the closing price the day before Musk disclosed he had bought a more than 9 percent stake.
- 26 April 2022 3:39 AM GMT
India's GDP likely to grow 7.5-8% in FY23: CII President
India’s economy is expected to grow 7.5-8 percent this fiscal year with exports playing a key role in the country’s success story, CII President TV Narendran said on Monday. However, he said the country needs to remain prepared for any fallout of next wave of COVID-19 pandemic, and the impact of the ongoing Russia-Ukraine war.
"We are confident that the economy can retain a high growth trajectory this year. So, we are very optimistic on the export front. Exports will be a key component of India’s success story going forward,” Narendran said.
- 26 April 2022 3:39 AM GMT
Indian real estate witnesses investments worth $943 million in Q1 2022, a jump of 41% over last quarter: JLL
Indian real estate witnessed investments worth $943 million in Q1 2022 which is a jump of 41 percent over the last quarter. While domestic capital chased deals in the residential sector, foreign investors were largely seen focusing on commercial assets, according to JLL’s India Capital Market Review.
Dedicated investment platforms have also come a long way with a total announcement of $19 billion commitments from 2012-March 2022. Investment platforms are like co-investment vehicles formed to invest in a large pool of assets in the same sector.
Of these 79 percent of the platforms were formed during the last seven years primarily led by market-friendly reforms like Real Estate Investment Trusts (REITs) and Goods and Services Tax (GST).
- 26 April 2022 3:38 AM GMT
LIC IPO likely to open on May 4, close on May 9
The much-awaited initial public offering of the Life Insurance Corporation of India is likely to open on May 4, CNBC TV18 reported on April 25, citing sources privy to the development. The issue is expected to close on May 9, the report said, adding that the anchor book for the LIC IPO is likely open on May 2.
The Securities and Exchange Board of India has given its nod to the updated draft red herring prospectus, which lists a 3.5 percent stake sale instead of 5 percent as mentioned in the previous draft papers, the news channel reported.
- 26 April 2022 3:37 AM GMT
Oil slumps 4% as Shanghai lockdowns stoke demand fears
Oil slumped about 4 percent on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in US interest rates.
Brent futures fell $4.33, or 4.1 percent, to settle at $102.32 a barrel, while US West Texas Intermediate (WTI) crude fell $3.53, or 3.5 percent, to settle at $98.54.
