SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 9 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading mixed on Tuesday, after major indexes on Wall Street surged to record closing highs overnight stateside. Markets in Hong Kong are closed today for a holiday.
China s services sector activity grew in March, according to a private sector survey released Tuesday. The Caixin/Markit services Purchasing Managers Index for March came in at 54.3, as compared to February s reading of 51.5.
U.S. stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening.
Volatility hit bourses in early trade as the key benchmark indices once again regained positive zone soon after reversing initial gains. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 150.62 points or 0.31% at 49,309.94. The Nifty 50 index was up 51.05 points or 0.35% at 14,688.85.
The S&P BSE Mid-Cap index was up 0.7%. The S&P BSE Small-Cap index was up 0.58%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1351 shares rose and 580 shares fell. A total of 85 shares were unchanged.
Stocks in news:
Maruti Suzuki India rose 0.58%. The company s total production jumped to 172,433 units in March 2021 from 92,540 units in March 2020. The production of passenger vehicles rose to 170,036 units in March 2021 compared with 91,602 units in March 2020. Production of light commercial vehicles surged to 2,397 units in March 2021 from 938 units in March 2020.
The domestic equity barometers further extended gains and hit fresh intraday high in mid-morning trade. The Nifty marched towards the 14,800 mark. IT, financials and bank stocks supported the upmove.
At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 385.43 points or 0.78% to 49,544.75. The Nifty 50 index added 125.45 points or 0.86% to 14,763.25.
In broader market, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index rose 1.16% each.
The market breadth was strong. On the BSE, 1779 shares rose and 801 shares fell. A total of 132 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 131,707,267 with 2,859,868 deaths.
India reported 788,223 active cases of COVID-19 infection and 165,547 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Vericel Set to Join S&P SmallCap 600
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NEW YORK, March 17, 2021 /PRNewswire/ Vericel Corp. (NASD:VCEL) will replace QEP Resources Inc. (NYSE:QEP) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, March 22. S&P 500 constituent Diamondback Energy Inc. (NASD:FANG) has acquired QEP Resources in a transaction that closed today.
Following is a summary of the changes that will take place prior to the open of trading on the effective date:
Effective Date
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The US stocks were mixed on Friday, 12 March 2021, as rising bond yields served to push financials higher and technology lower. At the close of trade, the Dow Jones Industrial Average index advanced 293.05 points, or 0.9%, to 32,778.64. The S&P500 index added 4.00 points, or 0.1%, to 3,943.34. The tech-heavy Nasdaq Composite Index fell 78.80 points, or 0.59%, to 13,319.86. for the week, the Dow soared by 4.1%, the Nasdaq surged up by 3.1%, and the S&P 500 jumped by 2.6%.
Market participants expressed optimism about the economy reopening after President Joe Biden directed states to make all adults eligible for a coronavirus vaccine by May 1st. The vaccine news combined with the new $1.9 trillion stimulus package led to hopes for a return to normalcy after a year of the coronavirus pandemic.