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The SGX Nifty points to an open for broader numbers in India on Thursday as traders take stock, perhaps in line with global cautious sentiment and the wobble on Wall Street in Asian markets and -sold a little higher. The market is expected to open cautiously as the SGX Nifty index points to an opening for the major index in India gaining 7 points on Thursday.

Stock Market

The market ended in the green for the third day in a row, supported by a rebound in the March 8 rally. Weaknesses in Asian peers weighed on sentiment, but buying in banks, autos, oil & gas, and consumer prices helped the rally. The BSE Sensex made up 124 points to 60,348, while the Nifty50 climbed 43 points to 17,754 and formed a bright candlestick pattern with a low shadow on the all-day chart, as well as a higher margin. According to the pivot table, Nifty has support at 17,645, followed by 17,606 and 17,543. If the index rises, the main resistance to watch is 17,770, followed by 17,809 and 17,872.

Federal Reserve Chairman Jerome Powell reiterated on the second day of conference testimony that the central bank will continue to raise interest rates to forecast until the price limit decreases. The Dow Jones Industrial Average fell 58.06 points, or 0.18%, to 32,798.4, the S&P 500 gained 5.64 points, or 0.14%, to 3,992.01 and the Nasdaq Composite added 45.67 points, or 0.45, to 5.64.

Asia-Pacific markets rose on Thursday as the Bank of Japan begins a two-day monetary policy meeting, with investors watching for any policy changes that may follow BOJ Governor Haruhiko Kuroda’s meeting.

Japan’s Nikkei 225 rose 1% and the Topix 0.84% ​​in the first hour of trading. The Kospi rose 0.2%. Australia’s S&P/ASX 200 was trading flat. SGX Professional

The SGX Nifty index shows an opening for the broader index in India with a gain of seven points. Nifty futures are trading around the 17,807 level on the Singapore exchange. Oil extends losses on fear of US rate hike

Oil prices fell on Wednesday after fears that aggressive interest rates in the United States will put pressure on the economy and demand for oil than a larger-than-expected decline in oil stocks. American crude. , while US West Texas Intermediate (WTI) crude futures fell 92 cents, or 1.2%, to $76.66 a barrel.

Sebi closes stock market buying norms

The Securities and Exchange Board of India (Sebi) issued a circular on March 8 specifying restrictions on bids, prices, and volumes for companies seeking to buy back their shares from exchanges. Earlier in December, the market operator presented a detailed plan that set out plans for the backstop from the exchange. Now, a company can use the offering method as well as the purchase method to buy public shares.

About the purchase of exchange channels, the regulator, in the operating guidance circular, ordered that no company should purchase more than 25% of the average daily market value (in value) of its shares or other securities specified during the 10. the trading day before the date of purchase of such items. U.S. Personal wages rise in February – ADP

US corporate payrolls rose more than expected in February, indicating continued strength in the labor market.

Private employment rose by 242,000 jobs last month, ADP’s National Employment Report showed on Wednesday. January data has been revised to show 119,000 jobs added instead of 106,000 as previously reported. Economists interviewed by Reuters had predicted an increase in private employment of 200,000.
Foreign institutional investors (FIIs) bought shares worth Rs 3,671.56 crore while Domestic Institutional Investors (DIIs) sold shares worth Rs 937.80 crore on March 8, according to preliminary data from the National Stock Exchange.

No call on the rate of March rate hike: Fed’s Powell

Federal Reserve Chairman Jerome Powell said Wednesday that policymakers have yet to make a call for a rate hike they are likely to take to their next policy meeting.

“We have not made any decision about the March meeting, we will not see until we see more data” which will come between now and the Federal Open Market Committee meeting on March 21-20. March 22, Powell said. panel of the house. as part of the testimony to the economy and financial policy.

Powell said, “We are not on the way to release” and the upcoming data will help determine whether it will be necessary to be 25 or 50 basis points as will be necessary when the workers next meeting.

US job vacancies remain high as the labor market remains strong

U.S. job vacancies fell less than expected in January and data for the previous month was revised upward, indicating persistent labor market conditions that will prompt the Federal Reserve to continue increasing rates. Long-term interest rates.

Job postings, a measure of job demand, fell by 410,000 to 10.8 million in the last day of January. December data was revised to show 11.2 million job openings instead of the 11.0 million previously reported. Economists interviewed by Reuters predicted 10.5 million job openings.

F&O banned shares on NSE

The National Stock Exchange has added Balrampur Chini Mills to the F&O banned list for March 9th. Restricted securities under the F&O section include companies whose export contracts exceed 95% of market share.


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