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While concerns remain over the record rise in daily Covid cases, domestic stocks may see a positive start in Friday’s trade, tracking gains in other Asian markets, thanks to upbeat jobless data in the US overnight. FPIs have turned net buyers of equities for the first time this month. The technical setup on the daily chart, though, requires indices to take out immediate hurdles for a sustained show.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 71.50 points, or 0.48 per cent, higher at 14,868.50, signaling that Dalal Street was headed for a positive start on Friday.
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Nifty futures on the Singapore Exchange traded 40.50 points, or 0.25 per cent, higher at 14,837.50 in signs that Dalal Street was headed for a positive start on Friday. Here are a dozen stocks which may buzz the most in today s trade:
SCI: US-based Safesea Megha Engineering and Infrastructure and a consortium led by NRI businessman Ravi Mehrotra have been shortlisted as potential buyers for the government of India’s stake in Shipping Corporation of India.
SBI Life: An arm of global private equity giant Carlyle is selling around 3.5 per cent of SBI Life for about Rs 3,300 crore through block deals on Friday. The floor price for the block deal has been set at Rs 945 per share, compared to SBI Life’s Thursday closing on at Rs 969, a discount of 2.5 per cent.
Equity indices were trading with strong gains in morning trade. The Nifty traded above the 14,800 mark. Barring the Nifty Auto index, all sectoral indices on the NSE were trading in the green.
At 10:28 IST, the barometer index, the S&P BSE Sensex, added 371.26 points or 0.76% at 49,321.73. The Nifty 50 index was up 103.40 points or 0.7% at 14,828.05.
In broader market, the S&P BSE Mid-Cap index was up 0.04% while the S&P BSE Small-Cap index was gained 0.47%.
The market breadth was strong. On the BSE, 1658 shares rose and 911 shares fell. A total of 133 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 155,650,258 with 3,251,960 global deaths.
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