Business & Investment

Today’s Nifty: SGX Nifty fell 5 points.This is what changed for the market while you were sleeping

Even if optimism about U.S. stimulus, ECB dovish tones, and strong U.S. unemployment data hit a record high in overnight trading on Walls Street, boosting the Asian market this morning. Domestic stocks may make a cautious start to trading on Friday.

This is the breakdown Before marketing Action:

Market condition

SGX Nifty A signal to start lukewarm
The Singapore Exchange’s nifty futures fell 4 points (0.03%) to trade at 15,415. This shows that Daral Street got off to a good start on Friday.

Tech View: Nifty Aims at 15,220
The Nifty50 took immediate resistance at the 15,100 level on Wednesday, but formed a small bearish candle with a long lower core, suggesting that daytime sales were bought. Analysts said the index seemed to win the mini-battle, but it was still inconclusive and needed to pull out 15,220 levels to maintain positive momentum.

Asian market Early trade rise

Asian stocks rose on Friday following a strong overnight lead from Wall Street and Europe. Further receding bond yields eased concerns about inflation rampant and regained a desire for tech stocks that were hit. Japan’s Nikkei 225 rose 0.61 percent, Hong Kong’s Hang Seng Index rose 0.15 percent, and South Korea’s Kospi rose 1.40 percent.

Slip, but stay close to $ 70 a barrel

Brent crude oil prices fell on Friday, but remained close to $ 70 a barrel as supply cuts by major oil producers curtailed supply, and they were optimistic about the recovery in resource demand in the second half of the year. Brent crude oil futures fell 17 cents (0.2%) in May to $ 69.46 a barrel.

U.S. stocks Settled at record highs

The S & P 500 and the Dow closed at record highs on Thursday as concerns over rising inflation subsided. The Dow Jones Industrial Average rose 188.57 points (0.58%) to 32,485.59, the S & P500 Index rose 40.53 points (1.04%) to 3,939.34, and the Nasdaq Composite Index rose 329.84 points (2.52%) to 13,398.67. became.

Anupam Rasayan IPO kicks off today

Anupam Rasayan’s Rs760 Chlore IPO will begin subscription on Friday. Issuance by a specialty chemicals company consists of issuance of entirely new shares and is priced in the range of 553-555 rupees. At the upper price range, Scrip requires 95.2x PE on a 12-month basis, based on a modified EPS of Rs 5.80. This is significantly higher than the peer average of 33 times. Some analysts said the valuations they were looking for were above growth prospects.

DII buys shares worth 448 rupees

Net Net, Foreign Portfolio Investors (FPI) were buyers of domestic stocks in the range of Rs 15.69. Data available at NSE suggests. According to the data, DII was a net buyer of 447.67 rupees.

Money market

Rupee: The Indian Rupee closed at 72.91 against the US currency on Wednesday in just two pays, recovered from the day’s lows and tracked global positive investor sentiment following easing bond yields.

10-year bond: India’s 10-year fixed income yield rose 0.66% to 6.24 after trading in the range 6.20-6.27.

call charges: According to RBI data, the weighted average of overnight call money rates was 3.17%. It moved in the range of 1.90-3.50 percent.


The ECB announces faster money printing to keep yields down
The European Central Bank said Thursday that it would significantly accelerate the pace of pandemic emergency bond purchases to ease market jitter on rising government borrowing costs. ECB Governor Christine Lagarde said the move aims to prevent the “undesirable” premature termination of cheap funds when the eurozone economy needs sufficient support to recover from a pandemic. It was.

According to Moody’s, there is no silver bullet for the vaccine … According to Moody’s Investors Service, the Covid-19 vaccine is available worldwide due to widespread uncertainty about viral mutations and slow progression of vaccination drives in certain regions, which can lead to local outbreak pockets. It is unlikely to be a silver bullet for the economy. Gross domestic product growth depends on how countries manage the virus through vaccination programs and other means, but the long-term economic impact is the number of jobs lost before resuming activity between sectors. Moody’s says it depends on.

Tax officers chase after Benami trading … As the various government departments began sharing data with each other, the Income Tax Department began tracking Benami’s assets, or real estate assets purchased under a pseudonym or pseudonym. What appears to be a trigger after a data analysis-based investigation, the tax department has begun issuing notices to the owners of many such “Benami” properties.

IPO borrowing costs skyrocket … Investor borrowing costs to punt IPOs are expected to skyrocket as next week’s surge in problems could boost funding demand. Five IPOs, including Anupam Rasayan, Laxmi Organic, Craftsman Automation, Kalyan Jewelers and Suryoday Small Finance Bank, will raise a total of Rs 4,500 and will begin subscriptions in the next week. Brokers say the increased funding costs have reduced the gray market premium for these upcoming issues. According to brokers, interest rates borrowed to invest in these IPOs could rise by at least 200 basis points from the current 7-8% level.

Bond fund investors are looking at losses … Investors in fixed income mutual funds holding perpetual bonds are looking at losses on new valuation standards for commodities that are expected to plummet on Friday. Money managers could pose a crisis if debt scheme redemption accelerates, as investment trusts are forced to dump such securities, yields skyrocket, and banks are expensive to borrow money from the market. Said there is. Experienced investors could jump into the fight to wrap up the bonds beaten in the turmoil, they said. On Wednesday, Sebi called on mutual funds to value perpetual bonds as 100-year from April.

The midfielder trims the blue chip holdings. Trustees continued to reduce their holdings of various high-quality stocks in February as continued redemption pressure prompted money managers to offload liquid stocks. Edelweiss Alternative Research said the mutual fund sold Rs. 2,800 shares of Bertie Airtel, Rs. 1,700 HDFC Bank and Rs. 1,500 RILs, and offloaded Rs. 1,400 HDFC shares. They bought shares of NTPC and IndusInd Bank for 700 rupees each. While at L & T, they were buyers worth Rs 650 during the month.

SPAC is coming to India soon … Two government regulators, Sebi and its corresponding Gujarat GIFT City, International Financial Services Center (IFSCA), are on track to accelerate the launch of a special purpose acquisition company (SPAC) in India. I will. SPAC is established with the explicit purpose of acquiring one or more companies, but at the time of establishment, the entity does not disclose the name of the target. SPAC-like structures have been around for years, mostly emerged by private-equity players. But lately, they are gaining popularity in developed markets. These structures are also referred to as “blank check companies” because investors other than the investors who set them usually do not know which acquisition target or company’s assets to invest in until they are bid by the SPAC. It will be.

Cement prices are strong … Cement prices across India rose about 4% in the first week of March due to the center’s infrastructure promotion, real estate demand recovery and industry consolidation. Prices rose about 18% in the south and 11% in the west. “Companies are more interested in incremental volumes, so the announcement of significant price increases over the next few days may only push more volumes at existing rates,” said a research analyst at Reliance Securities. , Says Binodomodi. Demand remained strong, as Modi’s infrastructure construction, affordable housing and continued driving of local consumption boosted volume.

Digital currencies stay here … DBS CEO Piyush Gupta said that tokenization of digital currencies and assets is a reality and could be a dominant factor in the future, but Bitcoin could replace fiat as a medium of exchange. It does not necessarily mean that you have sex. “We launched our first bank-sponsored digital exchange in December, which allows us to tokenize our assets and securities,” said Gupta. “Our actions are creating cryptocurrency, digital currency and tokenization capabilities for the future. But Bitcoin as an alternative to money is still challenging. Money is a medium of exchange and It’s a unit of account and a store of value, “he said.

Today’s Nifty: SGX Nifty fell 5 points.This is what changed for the market while you were sleeping Today’s Nifty: SGX Nifty fell 5 points.This is what changed for the market while you were sleeping

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