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SGX Nifty was trading in the green on Tuesday morning, hinting at a rebound in domestic markets after a sharp fall.(Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices plummeted on Monday as rising coronavirus cases and resultant lockdown continued to spook investors. S&P BSE Sensex now sits at 47,949 while the 50-stock Nifty is at 14,359. SGX Nifty was trading in the green on Tuesday morning, hinting at a rebound in domestic markets after a sharp fall. However, global cues could limit the rebound. Wall Street closed with losses on Monday while among Asian peers only KOSPI and KOSDAQ were trading with gains on Tuesday.
Amid the rising coronavirus case count, India has decided to allow vaccination to all citizens above the age of 18, from May 1. The decision was announced on Monday evening after India recorded 2.7 lakh cases of coronavirus, the highest single-day tally. Along with this, vaccine manufacturers have been empowered to release up to 50% of supplies directly to state governments and in the open market at pre-declared prices, a move that would boost the availability of the vaccine to the people.
Sensex soars 500 points in pre-open session, Nifty sits comfortably above 14,500.
Russian Sputnik vaccine will be priced at $10 per dose, G V Prasad of Dr. Reddy’s told CNBC TV18. He added that the company is targeting May end to early June for importing the vaccine to India.
Sensex regained 48,000 mark in the pre-open session on Tuesday morning. Nifty soared to cross 14,500.
“It seems like our markets have decoupled from global counterparts due to rising COVID cases in India. Going forward, the COVID-19 situation and the pace of vaccination would be a key monitorable for the markets. Further, the earnings announcement from select Nifty majors would induce stock-specific volatility. We maintain our cautious stance in the near term,” said Ajit Mishra, VP – Research, Religare Broking.
SGX Nifty hints at a positive opening for domestic markets, a day after benchmark indices tanked. Global cues were, however, mixed as Wall Street ended Monday with losses. On Tuesday morning, Hang Seng, Topix, and Nikkei 225 were trading with losses. Meanwhile, Shanghai Composite, KOSPI and KOSDAQ were trading with gains. On the charts, Nifty respected the support at 14,200 which could lead to upside in the coming sessions. “Having placed at the crucial lower supports of 14200 and the chart pattern of daily/weekly timeframe, one may expect minor upside bounce in the next few sessions (up to the gap hurdle of 14550) There is an expectation of next round of weakness from the highs,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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Nifty futures on the Singapore exchange were up 43 points on Tuesday morning, hinting at a positive start for domestic equity markets.
The Supreme Court on Monday stayed all proceedings before the Delhi High Court related to the enforcement of the Singapore Emergency Arbitrator’s interim award restraining the `24,713-crore deal between Future Retail and Reliance Retail. The matter was being heard by a single judge as well as a division bench of the Delhi High Court. After the orders of the single-judge bench were stayed by the division bench, Amazon, which is opposing the deal, had moved the SC.
The government on Monday announced a ‘liberalised and accelerated’ Covid-19 vaccination programme beginning May 1, where all above 18 years of age will be eligible to be vaccinated. Also, vaccine manufacturers have been empowered to release up to 50% of supplies directly to state governments and in the open market at pre-declared prices, a move that would boost availability of the prophylactics to the people.
The government on Monday announced a ‘liberalised and accelerated’ Covid-19 vaccination programme beginning May 1, where all above 18 years of age will be eligible to be vaccinated. Also, vaccine manufacturers have been empowered to release up to 50% of supplies directly to state governments and in the open market at pre-declared prices, a move that would boost availability of the prophylactics to the people.