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SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 56.50 points, or 0.38 per cent, higher at 14,920 in signs that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty at inflection point
Nifty needs to break above the key resistance at 14,900 level. Once that happens, the index may see a rally towards 15,300 and beyond that to 15,450 mark, analysts said. “A break above 14,900 level and the coil will unwound and one can expect a swift move,” said Manish Shah, Founder, Niftytriggers.com.
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Macrotech IPO sees 26% bids on Day 1
The initial public offer of Macrotech Developers was subscribed 26 per cent on the first day of subscription on Wednesday. The issue received bids for 95,91,420 shares against 3,64,18,219 shares on offer, as per NSE data. The category for qualified institutional buyers was subscribed 58 per cent, non institutional investors 11 per cent and retail individual investors 15 per cent.
Asian markets mixed in early trade
Asian equities were trading mixed on Thursday after minutes from the Federal Reserve’s latest meeting reiterated its commitment to keep interest rates low until the US economy makes a more secure recovery. Japan’s Nikkei fell 0.49 per cent to 29,586.04. Hong Kong’s Hang Seng rose 0.55 per cent to 28,828.29. China’s Shanghai Composite and Korea’s Kospi were trading flat.
Fed minutes underscored patience
Even as the US economy gathered steam this year, Federal Reserve officials remained cautious about the continuing risks of the pandemic and committed to pouring on monetary policy support until a rebound was more secure, minutes of the central bank’s March meeting reflect.
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US stocks closed mixed; S&P500 at record highs
The S&P 500 rose 6.01 points to 4,079.95. The Dow Jones Industrial Average gained 16.02 points, or 0.1 per cent, to 33,446.26. The Nasdaq composite slipped 9.54 points, or 0.1 per cent, to 13,688.84. The S&P500 index and Dow Jones each set record highs on Monday.
DIIs buy Rs 381 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 227 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 381 crore, data suggests.
Rupee tanks 1.5% to 74.55 against dollar
The RBI’s stance on maintaining an ultra-loose monetary policy, along with liquidity infusion amidst rising Covid cases, weakened Indian rupee by 1.5 per cent on Wednesday, its biggest intraday fall since August 2019. Accordingly, the rupee closed at 74.55 to a dollar.
Sensex, Nifty on Wednesday
Equity indices darted up on Wednesday, propelled by banking, auto and IT stocks, after the RBI expectedly left interest rates unchanged and maintained its accommodative stance to boost growth amid a resurgence in coronavirus cases. The 30-share BSE Sensex jumped 460.37 points or 0.94 per cent to finish at 49,661.76. The broader NSE Nifty advanced 135.55 points or 0.92 per cent to 14,819.05.