Given that the GIFT Nifty is showing a poor start for the overall index with a 53-point drop, the benchmark Sensex and Nifty indices are probably going to open lower on March 11.
GIFT Nifty
The Nifty may encounter resistance at 22,502, followed by 22,542 and 22,579 levels, according to the pivot point calculator. The index is probably going to find quick support at 22,447 on the bottom end, then 22,424 and 22,387.GIFT Nifty
The GIFT Nifty, which lost 53 points, or 0.23 percent, suggests that the Indian index as a whole is off to a bad start. The 22,651 mark was the focal point of the Nifty futures trade.
US Exchanges
Despite hitting record highs during the session, the S&P 500 and Nasdaq ended the day lower. This was due to the reversal of high-flying tech stocks and a mixed labor market data that showed a higher unemployment rate and more new jobs than anticipated.
Markets in Asia
Following a pause in Wall Street’s advance, Asian markets saw a decline on Monday. Nvidia, the market leader in artificial intelligence, ended the day down more than 5%, marking its lowest day since late May.
US job market data supports the Fed’s ‘no rush’ rate-cut perspective.
On Friday, officials at the Federal Reserve who are considering when to begin reducing interest rates were given more justification to hold off after a government report revealed strong job creation in February along with indications of a cooling job market, which might aid the Fed in its fight against inflation.
Over $70,000 is the record high for bitcoin.
In erratic trading on Friday, Bitcoin surged to a record high as the investment community continued to be enthralled by cryptocurrency.
Expectations of falling global interest rates and investor demand for new US spot exchange-traded cryptocurrency products helped the top cryptocurrency cross the $70,000 threshold for the first time.
Forex reserves in India increase by $6.55 billion to $625.63 billion.
The Reserve Bank of India reported on Friday that during the week ending March 1, India’s foreign exchange reserves increased by $6.55 billion to $625.626 billion. The total reserves had increased by $2.975 billion to $619.072 billion over the previous reporting week.
JM Financial is prohibited by Sebi from leading any public debt offering.
JM Financial is not permitted to accept any new mandates from the market regulator to serve as the lead manager for any debt securities that are issued to the public.
The Securities and Exchange Board of India (Sebi) said in an interim order dated March 7 that JM Financial may carry out its lead manager role for debt securities that are issued publicly for a period of 60 days following the date of this order.
Co-founder of IndiGo Rakesh Gangwal hopes to raise roughly $450 million through a block transaction.
According to various people familiar with the issue who spoke on condition of anonymity, IndiGo co-founder Rakesh Gangwal intends to raise around $450 million by selling a 3.3 percent interest in Interglobe Aviation. “The offer floor price for the proposed block deal is Rs 2,925 per share with a 5.8 percent discount to the last close price,” according to one of the individuals.
Rates are held by the ECB while inflation remains high.
The European Central Bank delayed beginning to lower borrowing costs on Thursday due to worries that sticky inflation is not abating as quickly as anticipated. As a result, interest rates were frozen once more.
Data from FII and DII
On March 7, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought stocks worth Rs 2,601.81 crore, while foreign institutional investors (FIIs) net bought shares worth Rs 7,304.11 crore.
NSE stock is prohibited from F&O
Manappuram Finance, Mahanagar Gas, and Zee Entertainment Enterprises are still on the F&O ban list for March 11, while Tata Chemicals and SAIL have been added by the NSE.