The Indian market is likely to open higher on Monday following gains in Asian peers amid positive global cues. At 7:40 am, the SGX Nifty was trading 84.00 points or 0.55 percent higher at 15,242.00, indicating a positive start for the Sensex and Nifty50.
1. Wall Street | The S&P 500 and Nasdaq set record closing highs on Friday as investors bought energy, financial and materials shares and sold big tech stocks in anticipation of new fiscal aid from Washington to help the US economy recover. The Dow Jones Industrial Average rose 27.7 points, or 0.09 percent, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47 percent, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5 percent, to 14,095.47.
2. Asian markets | Asian shares advanced to record highs on Monday as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4 percent to 736.4. Japan’s Nikkei climbed 1.3 percent, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter. Australia’s benchmark index was up 1 percent. Markets in China, Hong Kong, Taiwan and the US are closed on Monday for holidays. (Image: Reuters)
3. Indian market | The Indian indices ended flat on Friday after rising in early deals as FMCG, energy, pharma and metal stocks declined. However, a rise in IT and financial stocks capped the fall. The Sensex ended 0.02 percent, or 12.78 points higher at 51,544.30; while the Nifty settled at 15,163.30, down 10.00 points, or 0.07 percent. Broader markets ended mixed. Among sectors, Nifty Metal, Nifty FMCG, Nifty Pharma, Nifty Media and Nifty Auto declined, while Nifty Bank, Nifty Financial Services and Nifty IT ended in the green.
4. Crude oil | Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions, Reuters reported. Hopes for more US stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5 percent last week. Brent crude was up 66 cents, or 1.1 percent, at $63.09 a barrel. US West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.5 percent, to $60.33 a barrel.
5. Rupee | The rupee gained 12 paise to finish at 72.75 against the US dollar on Friday, propped up by sustained foreign capital inflows and softening crude oil prices. At the interbank forex market, the local unit opened at 72.79 against the greenback and witnessed an intra-day high of 72.75 and a low of 72.83. It finally ended at 72.75 against the American currency, registering a rise of 12 paise from its previous close.
6. CPI, IIP | The consumer price index (CPI)-based inflation fell to 4.06 percent in January as compared with 4.59 percent in December. Meanwhile, industrial production, measured by the Index of Industrial Production (IIP), in December grew by 1 percent as compared to a contraction of 2.1 percent in November. (Image: Reuters)
7. SEBI | Sebi is in the process of setting up a cybersecurity fusion centre, a move aimed at detecting cyber threats faster and resolve such incidents efficiently and effectively. Establishing a cybersecurity fusion centre or a cyber lab is part of SEBI’s three-tier structure for monitoring cybersecurity-related events in the securities markets and taking actions as deemed necessary in the interest of the protection of the securities market.
8. FinMin to infuse Rs 3,000 cr in general insurance companies | The finance ministry will infuse Rs 3,000 crore capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health. Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared a proposal to provide capital support to National Insurance, Oriental Insurance and United India Insurance.
9. Nureca IPO opens today | Healthcare and wellness products distributor Nureca will open its Rs 100-crore initial public offer (IPO) for a subscription today. The issue will close on February 17. The price band for the offer has been fixed at Rs 396-400 per share. The company has already raised Rs 44.55 crore from two anchor investors at an upper price band of Rs 400 per equity share on Friday.
10. FPIs invest Rs 22,038 crore in Feb so far | Continuing their buying trend, foreign portfolio investors (FPIs) have pumped in a net Rs 22,038 crore into the Indian markets in February so far amid positive sentiments around the Union Budget. According to depositories data, overseas investors poured in Rs 20,593 crore into equities and Rs 1,445 crore in the debt segment, taking the total net investment to Rs 22,038 crore during February 1-12.