The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India against April 13 close wherein Nifty closed at 14,541.15.
The Sensex rallied 660.68 points, or 1.38 percent, to 48,544.06 on April 13 while the Nifty climbed 194 points, or 1.36 percent, to 14,504.80.
According to pivot charts, the key support levels for the Nifty are placed at 14,343.5 followed by 14,182.2. If the index moves up, the key resistance levels to watch out for are 14,597.5 and 14,690.2.
Stay tuned to Moneycontrol to find out what happens in the 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
Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks’ stellar results on the first day of earnings season.
The Dow Jones Industrial Average rose 53.62 points, or 0.16%, to 33,730.89; and the S&P 500 lost 16.93 points, or 0.41%, at 4,124.66. The Nasdaq Composite dropped 138.26 points, or 0.99%, to 13,857.84.
Asian Markets
Asian markets were muted with Australia’s jobs data for March expected later today. Nikkei 225 advanced 0.22 percent in early trade while the Topix index gained 0.55 percent. South Korea’s Kospi advanced fractionally. Meanwhile in Australia, the S&P/ASX 200 dipped slightly.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India with a 109 points gain against April 13 close wherein Nifty closed at 14,541.15. The Nifty futures were trading at 14,650.25 on the Singaporean Exchange around 07:30 hours IST.
World Bank's IFC to invest $100 million in JC Flowers India fund to help resolve NPAs
The World Bank Group entity International Finance Corporation (IFC) is partnering with JC Flowers to help domestic lenders resolve their distressed assets and free up capital for new lending apart from allowing mid-sized firms to preserve jobs and avoid insolvency amid the raging pandemic.
Under the project, which is an expansion of IFC's distressed asset recovery programme in India, the lender will invest up to $100 million in the JC Flowers India opportunities fund on meeting certain conditions, with an initial commitment of $40 million, IFC said on Wednesday.
Spike in COVID cases and fear of second wave may impact recovery in the real estate sector: CARE Ratings
The recent spike in COVID-19 cases in the country and fears of second wave might hamper the recovery in the real estate sector witnessed in the last six months, an analysis by CARE Ratings has said.
As for commercial units, the demand would continue to remain subdued during financial year 2022 with emerging work from home and shared workspace culture. Office rentals is to be impacted with the emergence of Blended Work from Home culture, the analysis said.
Bitcoin breaches $64,000 with Coinbase listing fuelling crypto demand
Bitcoin on April 14 breached the $64,000 level for the first time amid the Coinbase Global Inc.’s public debut. This took place as investor demand for all things related to crypto surged. Bitcoin is currently valued at over $1 trillion after a more than 800 percent surge in the past year, reported Bloomberg.
Experts see the direct listing of US crypto exchange as pushing tokens into the mainstream of investing, exposing legions of potential buyers to the digital asset class. In little more than a decade, it has grown into a $2 trillion industry.
EPC firm GR Infraprojects files IPO papers to raise up to Rs 1,000 crore
GR Infraprojects, an integrated road engineering, procurement and construction (EPC) company, has filed the draft red herring prospectus with the capital markets regulator Sebi for its initial public offering.
The issue will be a complete offer for sale of 1,15,08,704 equity shares by the promoter and other existing selling shareholders. The company will also reserve some shares for its employees.
Results on April 15
Wipro, Blue Blends (India), Hathway Bhawani Cabletel & Datacom and Tinplate Company of India will release quarterly numbers on April 15.
India's 2nd wave may last till May end, can see 3 lakh daily cases: Top virologist
The second wave of Covid-19 that is battering most parts of India right now could continue till the end of May and the number of new daily cases may rise to about 3 lakh, well-known virologist Dr Shahid Jameel has said. India reported 1,84,372 new coronavirus infections in a 24-hour period, hitting the highest daily tally once again, according to the health ministry on Wednesday. The new figures pushed the total cases to over 1.38 crore, even as the number of deaths rose by 1,027 to 1,72,085.
“What is really scary is the rate at which cases are increasing,” Dr Jameel told CNN-News18 on the show News Epicentre. “If you look at the growth in active cases, that’s about 7% per day. That’s a very high rate of increase. Unfortunately, if this rate keeps on, we will be looking at somewhere around 3 lakh cases per day. And this is what some modellers are suggesting.”
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 243.80 crore in the Indian equity market on April 13, as per provisional data available on the NSE.
With inputs from Reuters & other agencies
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