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Stock Market Live Updates: Trends on SGX Nifty indicate a flat start for the broader index in India

Stock Market Live Updates: The Indian stock market is expected to open flat as trends on SGX Nifty indicate a muted start for the index in India.

Sensex reclaims 51k mark as IT, fin stocks sparkle
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Sensex reclaims 51k mark as IT, fin stocks sparkle

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Stock Market Live Updates: The Indian stock market is expected to open flat as trends on SGX Nifty indicate a muted start for the index in India. Indian market rose for the second consecutive day in a row on Tuesday pushing benchmark indices above crucial resistance levels which is a positive sign for the bulls.

The Nifty50 closed above 14600 levels while the S&P BSE Sensex rallied by more than 500 points and is just 56 points shy of hitting 49,000.

India VIX fell by 1.78% from 23.49 to 23.08 levels. India VIX needs to hold below 20 zones to again attract a bullish stance in the market.

US Markets

Tepid results from Tesla and 3M weighed on Wall Street on Tuesday, with the S&P 500 and Dow ending near flat as investors focused on the wave of earnings reports from Microsoft, Alphabet and other corporate heavyweights.

Info Edge to sell Zomato shares worth Rs 750 crore in IPO

Info Edge Limited on April 27 said that it would be selling stakes worth Rs 750 crore in its investee company Zomato Limited via Offer For Sale (OFS) in the latter's upcoming initial public offering (IPO).

WHO steps up aid to India to stem COVID-19 surge

The World Health Organization (WHO) said on Tuesday it was stepping up efforts to help India as hospitals struggled to cope with a huge surge in coronavirus cases, including bringing in oxygen and other essential supplies.

MSD in pact with five Indian generic firms to manufacture, distribute COVID-19 drug molnupiravir

MSD Pharmaceuticals, the wholly-owned subsidiary of Merck Sharp Dohme, known as Merck & Co in the US, announced that it has decided to enter into non-exclusive voluntary licensing agreements for COVID-19 antiviral drug molnupiravir with five established Indian generic manufacturers.

GDP growth likely to be capped at 9% in FY22: Brickwork Ratings

We continue to believe that until the virus spreads are contained, and a substantial proportion of the population has been vaccinated, the sectors that are impacted by social distancing norms and those adversely affected by supply disruptions, labour shortage and demand reduction will continue to trail and may take longer to return to sustained growth path. The revival in sectors that fall under discretionary spending may also be further delayed due to the second wave, said Brickwork Ratings.

Nevertheless, the outlook for growth continues to remain positive mainly due to the low base, and we revise FY22 GDP growth to 9% from the earlier estimates of 11%, it added.

ANMI seeks extension of deadline for compliance filings by brokers

Stock brokers' association ANMI on Tuesday said it has requested authorities to extend timelines for mandatory compliance requirements of the broking industry to up to July 31, 2021 or till such time lockdown is continued across various states.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,454.75 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,463.44 crore in the Indian equity market on April 27, as per provisional data available on the NSE.

Dwaipayan Bhattacharjee
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