Trends on SGX Nifty indicate a flat opening for the index in India with a 25 points gain.
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a flat opening for the index in India with a 25 points gain.
Sensex settled 31 points, or 0.06 percent, lower at 50,363.96 on March 16 and Nifty ended 19 points, or 0.13 percent, down at 14,910.45. According to pivot charts, the key support levels for Nifty are placed at 14,850.27, followed by 14,790.03. If the index moves up, the key resistance levels to watch out for are 15,011.17 and 15,111.83.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
The S&P 500 ended lower on Tuesday, weighed down by energy and industrial stocks as investors awaited the result of the Federal Reserve’s two-day policy meeting.
The Dow Jones Industrial Average fell 0.39% to end at 32,825.95 points, while the S&P 500 lost 0.16% at 3,962.71. The Nasdaq Composite edged up 0.09% to 13,471.57.
Asian Markets
Asian stocks were set to open mostly lower on Wednesday following a sell-off in US stocks as investors awaited the Federal Reserve’s meeting outcome. All eyes are on the US Fed whether the central bank will maintain near-zero interest rates amid the economy’s post-pandemic recovery.
Australia’s S&P/ASX 200 index lost 0.34% in early trading. Japan’s Nikkei 225 futures fell 0.20%, while Hong Kong’s Hang Seng index futures rose 0.34%.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 25 points gain. The Nifty futures were trading at 14,997 on the Singaporean Exchange around 07:30 hours IST.
Sebi streamlines IPO process
Markets regulator Sebi on Tuesday put in place a uniform policy to streamline the reconciliation process among intermediaries with regard to initial public offers as well as a new mechanism to compensate investors.
The new framework would address issues related to delay in receipt of mandate by investors for blocking of funds due to systemic issues at intermediaries and failure to unblock the funds in cases of partial allotment by the next working day from the finalisation of Basis of Allotment (BOA), Sebi said in a circular.
Permission for new private banks to participate in govt business will be based on RBI guidelines: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday said in Parliament that permission to new private banks for conducting government-related business will be given under the RBI guidelines.
''Now, following the existing norms based on which several banks have been given permission to do the business. So, those rules as per the RBI guidelines be applied on newer banks and new private banks which approach the RBI,'' she said.
Indian state refiners prepare to cut May Saudi oil imports
Indian state refiners are preparing to cut oil imports from Saudi Arabia by about a quarter in May compared to average monthly purchases, two sources privy to the matter said, after the government asked them to cut dependence on Middle Eastern supplies.
Suryoday Small Finance Bank IPO opens today
Suryoday Small Finance Bank will open its maiden public offer for subscription on March 17. This is the fourth small finance bank to launch an IPO, after AU Small Finance Bank, Ujjivan Small Finance Bank and Equitas Small Finance Bank.
Equity shares will get listed on the BSE and the National Stock Exchange. Axis Capital, ICICI Securities, IIFL Securities and SBI Capital Markets are the book running lead managers to the issue.
RBI strengthening institutional mechanism to prevent bank frauds: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday informed Parliament that the Reserve Bank of India is taking measures to strengthen its regulatory and supervisory capacity, and expressed hope that these steps will ensure no regulatory mishaps take place in the future.
"We have been engaging with the RBI to ensure that the regulatory functions and supervisory function of the RBI are strengthened. I am assured by the RBI Governor that internally an institutional mechanism is being further strengthened," Sitharaman said during Question Hour in the Rajya Sabha.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,692.31 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,168.59 crore in the Indian equity market on March 16, as per provisional data available on the NSE.
2 stocks under F&O ban on NSE
BHEL and Sun TV Network are under the F&O ban for March 17. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
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