Muhurat Trading: Sensex, Nifty set to start Samvat 2078 on a positive note

Muhurat Trading: Sensex, Nifty set to start Samvat 2078 on a positive note

LIVE updates: The will being trading for Smavat 2078, in today’s special one-hour session from 06:15 PM onwards. The pre-open seesion will be held at 06:00 PM.

The benchmark indices, the Sensex and the are likely to open a positive note given the positive overseas cues and easing of inflation fears as the government cut excise duty on petrol and diesel by Rs 5 and Rs 10, respectively.

The was up 75 points at 17,922 at 05:30 PM.

Recap Samvat 2077

Samvat 2077 for best for the Indian equity in the last 12 years, with the gaining around 36 per cent and 38 per cent, respectively. The gains were broad-based, with mid-and small-cap stocks out-performing the key benchmark indices with a wide margin. READ MORE

Technically, benchmark indices can log fresh record highs in with the possibility of the NSE hitting 19,500-level. Click here to check out what the charts indicate

Global cues

Wall Street ended at record highs on Thursday, with the benchmark S&P 500 advancing 0.7 per cent, the Dow Jones rose 0.3 per cent and the Nasdaq added a per cent after the US Federal Reserve, as expected, approved plans to begin scaling back its bond-buying stimulus program this month and end it by June 2022.

At the end of its two-day meeting, the Fed said monthly $120 billion purchases of Treasuries and mortgage-backed securities would be trimmed by $15 billion a month.

The benchmark 10-year yield settled at 1.5893 per cent, up 4.2 basis points. Brent crude dropped 3.2 per cent to $81.99 a barrel, while the US WTI crude shed 3.6 per cent to $80.86 a barrel.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link