The GIFT Nifty’s trends suggest that the benchmark Sensex and Nifty indexes would open lower on March 14 due to a dismal start for the broader market, which has gained 77 points.
According to the pivot point calculation, the Nifty 50 is probably going to find immediate support at 21,910, then 21,782 and 21,576. Resistance for the index might be found at levels 22,323, 22,451, and 22,658 on the higher end.
Wall Street closes largely down as chip manufacturers relax
Before the Federal Reserve meeting next week, investors were waiting for producer pricing data and more hints about the direction of inflation. As a result, the S&P 500 and Nasdaq both saw slight declines on Wednesday as they booked profits in chipmaker stocks.
Markets in Asia
Early on Thursday, Asian markets saw uneven activity, with the Kospi up 0.4 percent and the Nikkei index down 0.5 percent.
Paytm and SBI collaborate as the fourth bank for SBI’s UPI business.
For its customer UPI payments, State Bank of India, the largest lender in the nation, has teamed up with One97 Communications, the company behind the Paytm app and brand.
Since the RBI took action against Paytm Payments Bank Limited (PPBL), which was the firm behind Paytm’s UPI, the mobile payments company has been compelled to look for bank partnerships in order to become a third party application provider (TPAP), following in the footsteps of its more established rivals PhonePe and Google Pay.
Reliance will purchase Paramount’s Viacom18 stake.
For roughly $517 million (42.86 billion Indian rupees), Reliance Industries has agreed to purchase Paramount Global’s whole 13.01% interest in regional entertainment network Viacom 18 Media, the U.S. business announced in a regulatory filing.
Comedy Central, Nickelodeon, and MTV are among the 40 television networks that make up Viacom18, which is primarily owned by Reliance.
After the purchase closes, Paramount stated it will keep licensing its content to Viacom18. It currently streams its programming via JioCinema from Reliance.
The completion of Reliance’s previously disclosed merger with Walt Disney for their India TV and streaming media businesses is another condition of the deal.
The Sebi Board is expected to talk about T+0 settlement and the ease of doing business for FPIs, AIFs, and PMS.
At its upcoming meeting, the market regulator is anticipated to present recommendations to its Board regarding optional T+0 settlement and how to make doing business easier for foreign portfolio investors (FPIs), alternative investment funds (AIFs), and portfolio managers.
On March 15, the Securities and Exchange Board of India (Sebi) will have a meeting with its Board. The board meeting of the regulatory body in January was rescheduled.
One dollar
The US dollar steadied versus its major counterparts on Thursday, while market participants awaited additional data from the largest economy in the world for hints about the Federal Reserve’s policy stance. The currency market was quiet on the day.
At 102.77, the dollar index—which compares the value of the US dollar to a basket of six other currencies—was essentially unchanged.
Gold Rates
Despite a strong US inflation report, investors remained onto prospects of a June rate decrease by the Federal Reserve, which supported gold prices on Wednesday. Additionally, the demand for metal as a safe haven was maintained by growing global tensions.
Unrefined
Due to unexpected withdrawals from US crude inventories, a greater-than-expected decline in US gasoline storage, and possible supply interruptions following Ukrainian attacks on Russian facilities, oil prices surged by almost 3% to a four-month high on Wednesday.
US West Texas Intermediate (WTI) crude increased $2.16, or 2.8 percent, to close at $79.72, while Brent futures jumped $2.11, or 2.6 percent, to settle at $84.03 a barrel.
Data from FII and DII
On March 13, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought Rs 9,093.72 crore worth of stocks, while foreign institutional investors (FIIs) net sold shares worth Rs 4,595.06 crore.