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Top 10 things to know before the market opens today

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3 years ago

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Top 10 things to know before the market opens today

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 100 points.

The BSE Sensex climbed 936 points or 1.68 percent to 56,486, while the Nifty50 jumped 241 points or 1.45 percent to 16,871 and formed a bullish candle on the daily charts.

As per the pivot charts, the key support level for the Nifty is placed at 16,689, followed by 16,507. If the index moves up, the key resistance levels to watch out for are 16,971 and 17,070.

Consumer Price Index inflation rises 

India’s retail inflation in February rose marginally to 6.07 percent from 6.01 percent in the previous month, data released on March 14 by the Ministry of Statistics and Programme Implementation showed. Inflation based on the Consumer Price Index (CPI) was 5.03 percent in February 2021.

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The CPI inflation print for February is above the consensus estimate. As per a Reuters poll, economists had expected retail inflation to slip to 5.93 percent.

FII and DII data

Foreign institutional investors (FIIs) continue selling in India as they have net sold shares worth Rs 176.52 crore on March 14, the lowest offloading in a single day in the last one month. However, domestic institutional investors (DIIs) have bought shares worth Rs 1,098.62 crore on the same day, as per provisional data available on the NSE.

NBFC-retail’s assets under management likely to grow 8-10% in FY23: Report

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The asset under management (AUM) of non-banking financial companies (retail) is expected to grow 5-7 per cent in fiscal 2022 and 8-10 per cent in fiscal 2023, according to a report. Housing finance companies (HFCs) are likely to see their AUM expanding by 8-10 per cent in the current fiscal and 9-11 per cent in the next financial year, rating agency ICRA Ratings said in a report on Monday.

The agency’s Vice-President (Financial Sector Ratings) Manushree Saggar said that within the NBFC-retail segment, personal credit, microfinance and gold loans are likely to be the primary growth drivers as other traditional asset segments-vehicle finance and business credit are still facing headwinds because of supply constraints and asset quality concerns.

Stocks under F&O ban on NSE

One stock – Balrampur Chini Mills – is under the F&O ban for March 15. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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3 weeks ago

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October 10, 2024

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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