Gainers & Losers

YOU ARE ON :
  • HOME /
  • EQUITY /
  • NEWS ANALYSIS/
  • GAINERS & LOSERS

Indices may open higher

October 07 2020

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.

Cues to watch:

The Reserve Bank of India said that the next meeting of the Monetary Policy Committee (MPC) is scheduled during 7 to 9 October 2020. The government on Monday has named Shashanka Bhide, Ashima Goyal and Jayanth Varma as its nominees on the central bank's monetary policy committee (MPC) on Monday. The new members have been appointed for a four-year term.

The Reserve Bank of India was forced to delay the bi-monthly committee meeting set to take place from 29 September to 1 October, as it required at least four MPC members to proceed and the Indian government had failed to name replacements for three previous appointees whose tenure ended in September.

Global markets:

Overseas, Asian stocks were mostly lower on Wednesday weighed by a weaker Wall Street finish as U.S. President Donald Trump called off stimulus negotiations till after the November election.

In US, stocks fell on Tuesday after President Donald Trump instructed White House officials to halt negotiations on further coronavirus stimulus, sparking a sharp reversal in the major market benchmarks.

U.S. Federal Reserve Chairman Jerome Powell on Tuesday called for continued aggressive fiscal and monetary stimulus for an economic recovery he said still “has a long way to go.”

The US trade deficit rose in August to the highest level in 14 years. The Commerce Department reported Tuesday that the gap between the goods and services the United States sells and what it buys abroad climbed 5.9% in August to $67.1 billion, highest since August 2006. Exports rose 2.2% to $171.9 billion on a surge in shipments of soybeans. Imports rose 3.2% to $239 billion led by purchases of crude oil, cars and auto parts.

Domestic markets:

Back home, domestic equity benchmarks surged on Tuesday, rising for the fourth straight session. The rally was led by HDFC and private sector banks. Positive Asian cues and decent Q2 business update from domestic companies supported buying. The barometer index, the S&P BSE Sensex, rallied 600.87 points or 1.54% at 39,574.57. The Nifty 50 index climbed 159.05 points or 1.38% at 11,662.40.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,101.76 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 934.84 crore in the Indian equity market on 6 October, provisional data showed.

Powered by Capital Market - Live News

Attention Investor:

1) "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         2) For Stock Broking Transaction "Prevent unauthorised transactions in your account Update your mobile numbers / email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile / email at the end of the day .... Issued in the interest of Investors."         3) For Depository Transaction "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day....Issued in the interest of investors."         4) No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.