SGX Nifty down nearly 100 points; five things to know before market opens on Wednesday

By: |
March 24, 2021 8:52 AM

Headline indices BSE Sensex and Nifty 50 were eyeing a negative opening on Wednesday, as suggested by trends on SGX Nifty.

sensex, niftyNifty futures were ruling at 14,733.50, down 91.50 points or 0.62 per cent on Singaporean Exchange, suggesting a gap-down opening for Sensex and NSE's Nifty.

Headline indices BSE Sensex and Nifty 50 were eyeing a negative opening on Wednesday, as suggested by trends on SGX Nifty. Markets may remain volatile ahead of F&O expiry scheduled on Thursday. Besides, weak global cues, rising COVID-19 cases, on-going vaccination drive, stock-specific development, crude oil prices, rupee may set the market direction today. Oil prices gained on Wednesday as investors looked for bargains following the previous day’s plunge, but gains were capped as pandemic lockdowns in Europe and a build in US crude stocks curbed risk appetite and raised oversupply fears, according to Reuters.

SGX Nifty down: Nifty futures were ruling at 14,733.50, down 91.50 points or 0.62 per cent on Singaporean Exchange, suggesting a gap-down opening for Sensex and NSE’s Nifty.

Anupam Rasayan: Specialty chemicals Anupam Rasayan India Ltd (ARIL) shares will list on stock exchanges today. Amid share market volatility, grey market premium in Anupam Rasayan has fallen. Most of the analysts suggest booking profits on listing.

FIIs turn net sellers in Indian stock market: On Tuesday, foreign institutional investors (FIIs) offloaded shares worth Rs 108.24 crore, while domestic institutional investors (DIIs) sold shares worth Rs 529.69 crore on a net basis in the Indian equity market, as per provisional data available on the NSE.

Nifty’s support, resistance levels: The short term trend of Nifty remains positive, but market’s inability to sustain above the hurdle of 14850 could be cause of concern. “A sustainable move above 14850-14900 levels could pull Nifty towards the next hurdle of 15050 levels in the near term. Any failure could open weakness from the highs. Immediate support is placed at 14700,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Global market: Asian stock markets were trading mostly lower in early trade on Wdnesday as worries over COVID-19 recovery weighed on investor sentiment. Japan’s Nikkei 225 fell over one per cent while the Topix index declined 1.49 per cent. South Korea’s Kospi slid 0.11 per cent. In overnight trade on Wall Street, US stocks edged lower. The Dow Jones Industrial Average fell 0.94 per cent, and the S&P 500 lost 0.76 per cent. The Nasdaq Composite dropped 1.12 per cent.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Rakesh Jhunjhunwala cuts stake in Titan, sells Rs 344 crore Titan shares in Jan-Mar 2021
2Bharti Airtel restructures biz with focus on digital opportunities; is value unlocking on cards?
3Infosys share price top Sensex loser today, tumbles over 5% intraday; why Infosys stock is falling