Nifty futures slipped in red right after trading in the positive territory in the early trade on Thursday, and have been trading flat to unfavorable at 15,040.80 on Singaporean Exchange. Investors will retain a close eye on corporate outcomes, crude oil cost, and the rupee’s trajectory against US dollar, along with Covid and vaccine-connected newsflow. Weekly selections expiry is also most likely to bring about volatility today. Going ahead, the marketplace is most likely to continue its positive trend as fresh everyday covid situations decline and investors are upbeat on reopening of financial activity quickly. However, record death numbers are alarming and would be tracked closely, mentioned Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Global watch: Asian stock markets have been trading mixed in Thursday’s session, with Japan’s Nikkei trading flat although Topix index edged marginally greater. South Korea’s Kospi declined half a per cent. While Australia’s S&P/ASX 200 rose more than half a per cent. In overnight trade on Wall Street, US stock indices ended reduced. The Dow Jones Industrial Average fell .48 per cent, the S&P 500 .29 per cent, and the Nasdaq Composite dropped .03 per cent.
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Q4 outcomes: BSE-listed corporations such as Zee Entertainment Enterprises, HPCL, Brookfield India Real Estate Trust REIT, Torrent Power, JK Lakshmi Cement, KNR Constructions, Relaxo Footwears, Response Informatics, Sterling Webnet, The Investment Trust Of India, Disa India, Electrosteel Castings, Ultramarine & Pigments, Usha Martin, and Virat Industries, amongst other individuals will announce quarterly earnings on May 20.
Technical view: The profit booking has emerged in the marketplace from the highs as anticipated and one may possibly count on additional weakness for the next 1-2 sessions to kind a new greater bottom. At the reduced side, 14900 is anticipated to act as a vital reduced help and the marketplace is anticipated to bounce back from the lows, mentioned Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Bitcoin, other cryptos fall: Bitcoin tumbled to $31,663 on Wednesday evening, lowest due to the fact January 28, 2021. China has banned monetary institutions and payment corporations from offering services connected to cryptocurrency transactions. Under the ban, such institutions, such as banks and on the internet payments channels, have to not offer you consumers any service involving cryptocurrency, such as registration, trading, clearing and settlement, Reuters cited 3 business bodies as saying in a joint statement on Tuesday.
FIIs, DIIs net sellers: On Wednesday, foreign institutional investors (FIIs) net sold indian equities worth Rs 697.75 crore. Domestic institutional investors (DIIs), also offloaded shares to the tune of Rs 852.52 crore on a net basis.