MARKETS: Positive start on horizon as SGX Nifty rises 50 pts; Nestle eyed

[ad_1]

LIVE market updates: The key benchmark indices are expected to start Thursday’s session in the positive zone as per trends indicated by the SGX Nifty futures, which were quoting 17,374 levels around 8 am, over 50 points higher than Nifty’s previous spot close.

Today’ session could witness volatility on account of the weekly F&O expiry. Meanwhile, investors may also take into account the January Fed meeting minutes, which show that the central bank believed it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data.

This apart, among stocks, Ambuja Cements and Nestle India are scheduled to announce December quarter earnings and may remain in focus. READ MORE

Wipro may also be eyed as the company has received a five-year contract to drive transformation for ABB’s information systems digital workplace services. The agreement, worth over $150 million, will help ABB’s information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries.

Global Cues

The US markets ended a volatile session of trade on Wednesday with marginal losses as investors heaved a sigh of relief after Fed FOMC release minutes indicated that the Fed intends to raise interest rates, but it would be done at a moderate pace. Thus, allying some fears of back-to-back rate hikes this calendar year. The Dow Jones slipped 0.2 per cent. The S&P 500 and Nasdaq were down 0.1 per cent each.

Meanwhile, Oil prices rose as the US and NATO questioned Russia’s willingness to negotiate a solution to the crisis, and accused it of increasing its military build-up surrounding Ukraine. Brent crude surged 1.6 per cent to $94.81 a barrel, and WTI crude jumped 1.7 per cent to $93.66, a barrel.

Major markets in Asia exhibited a mixed trend this morning. Kospi surged 1.2 per cent. Straits Times and Taiwan were up 0.6 per cent and 0.4 per cent, respectively. On the other hand, Japan’s Nikkei declined 0.4 per cent, and Shanghai Composite was down 0.2 per cent. Hang Seng traded on a flat note.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

[ad_2]

Source link

Dear Reader,

Leave a Reply Cancel reply