On Thursday, the Indian market ended up falling as a result of the negative global cues. The monthly derivatives expiry kept sentiments weak on Dalal Street.
Sensex ended up 581 points lower at 57,276 and Nifty lost 125 points to 17,152. HCL Tech, Tech Mahindra and Dr Reddy's were the top Sensex losers, falling to 4.17%.
Here is a look at the market action on the BSE and NSE today.
Telco behemoth Bharti Airtel and US-based search engine Google have signed a long-term multi-year agreement to aid the growth of India's digital ecosystem. Google has a partnership with a $1 billion investment as part of its Google for India Digitisation Fund.
The deal includes an investment of $700 million to acquire 1.28 percent of Airtel's ownership and up to $300 million for commercial agreements.
The Indian benchmark indices opened sharply higher on Thursday. The 30-share BSE index was trading 500 points higher at 57,811 at the time of 09: 16 hours. The NSE Nifty was up 159 points to 17,269. NTPC was the leading gainer in the Sensex pack, advancing over 3 per cent, followed by Tata Steel, M&M, Bharti Airtel, Wipro and IndusInd Bank.
The markets will remain flat on the 17,100 level during the first day of the February expiry series. The markets have risen above the 17,000 level on closing basis because of the fall seen in January.
The budget is around the corner and people's budget is expected to be beneficial for the UP elections. It needs to be watched closely.
The Asian indexes saw a positive turn after the US fed fed tighter monetary policy. The results of CE Infosystems were declared yesterday, and saw a decline in revenues, profits and margins on a standalone basis for this quarter, compared to a YoY basis.
Among the earnings to watch today will be AU small finance bank, Dixon Technologies, happiest minds, L&T, Kotak Mahindra bank.
The resistance seems to be 17,400 for the near term, with the Nifty holding strong support at 17,000. Markets seem to provide positive momentum after the budget, so advise investors to stay put in the volatile times for better returns in the near term.
Wall Street gyrated wildly on Thursday, with the S&P 500 narrowly avoiding correction confirmation at the end of a session marked by a rally, selloff and recovery, as investors juggled positive news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.
The Dow Jones Industrial Average fell by 7.31 points, or 0.02 percent, to 34,160. The S&P 500 lost 23.42 points, or 0.54 percent, to 4,326 at the end of the day. 51 and the Nasdaq Composite dropped by 189.34 points, or 1.4 percent, to 13,352. The weighted index of Nikkei was up 2.10 per cent and Hang Seng was trading 0.60 per cent lower in Asia. The Shanghai Composite was down 0.02 per cent.
The Indian rupee was down by 30 paise on January 27 to close at 75.08 provisional against the U.S. dollar, tracking the strength of the American currency after a hawkish U.S. Fed policy stance.
The local unit was affected by muted domestic equities, sustained foreign fund outflows and firm crude oil prices, according to traders.
The local currency opened at 75.18 against the dollar on the interbank foreign exchange market and witnessed an intra-day high of 75.07 and a low of 75.31 during the session.
Foreign institutional investors FIIs sold shares worth Rs 6,266. On January 25, domestic institutional investors DIIs bought shares worth Rs 2,881, worth 75 crore and domestic institutional investors DIIs bought shares worth Rs 2,881. Provisional data available on the NSE shows that 32 crore are available.
The Indian equity market is likely to open on a flat note, as the SGX Nifty was up 2.80 points to 17,188. Singapore Nifty SGX Nifty is the Indian Nifty index traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
The Indian market was lower due to the negative global cues. The monthly derivatives expiry kept sentiments weak on Dalal Street. Sensex fell to 57,276 points and Nifty lost 125 points to 17,152 at the end of 581 points. HCL Tech, Tech Mahindra and Dr Reddy's were the top Sensex losers, falling to 4.17%.
Axis Bank, SBI and Maruti Suzuki were among the top Sensex gainers, rising to 2.81%. 21 of 30 Sensex stocks ended lower.
The index dropped to 56,439 on its previous close of 57,858, down 1,419 points. It managed to end in the red after an 837 point recovery from the day's low.