Domestic stocks are likely to open on a cautious note ahead of the outcome of the US Fed s two-day policy meeting, where the US central bank is likely to raise economic forecasts and repeat a pledge to remain accommodative for the foreseeable future.
Here s the breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.27 per cent, higher at 15,012.50 in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty support seen at 50-DMA
Nifty declined for the third straight session on Tuesday and formed a bearish candle on the daily chart. During the day, the index broke below its 20-day moving average. Analysts said the market is likely to see sideways action now, but any failure to stage a recovery from here on could potentially send the Nifty tumbling towards the 14,720 level, which is near Nifty s 50-day simple moving average.
Stocks in Focus on March 17: Equity Benchmarks on Tuesday, March 16, 2021, ended almost flat even as the cues from other Asian stocks was positive. The BSE Sensex at Bombay Stock Exchange slipped marginally by 31 points, or 0.06 per cent, to close at 50,364 while the NSE Nifty at National Stock Exchange fell marginally by 19 points, or 0.13 per cent, to settle at 14,910. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, March 17, 2021. List of such five stocks:
Anupam Rasayan IPO + Laxmi Organic Industries IPO + Craftsman Automation IPO + Kalyan Jewellers IPO + Nazara Technologies + Suryoday Small Finance Bank:
Sensex Today, Among Nifty stocks, Adani Ports was the top gainer, up 2.16% followed by Bharti Airtel and Titan Company, which traded 2.05% and 1.86% higher
Sensex today: Among Nifty stocks, Asian paints was the top gainer, up 4.82% followed by Dr Reddy s Lab and HCL Tech, which gained 2.47% and 1.64% respectively.
Synopsis
Asian stocks opened higher on Tuesday as investors awaited comments from the US central bank s meeting later this week. MSCI s gauge of stocks across the globe gained 0.04 per cent.
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India 10-year bond yield fell 0.50 per cent to 6.20 after trading in 6.20-6.24 range.
Improved economic outlook pushed US stocks to record highs overnight and that may help domestic stocks open higher this morning in line with other Asian markets. But the upside looks capped, as investors globally await US Fed s policy outcome due on Wednesday.
Here s the breaking down of the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 47 points, or 0.31 per cent, higher at 14,997 in signs that Dalal Street was headed for a positive start on Tuesday.