The benchmark Sensex and Nifty indices are likely to open higher on March 20 as trends in the GIFT Nifty indicate a firm start for the broader index with a gain of 62 points.
Indian equity indices fell 1 percent on March 19 with Nifty at 21800 amid selling across the sectors.
At close, the Sensex was down 736.37 points or 1.01 percent at 72,012.05, and the Nifty was down 238.20 points or 1.08 percent at 21,817.50.
The pivot point calculator indicates that the Nifty 50 is likely to take immediate support at 21,792 followed by 21,748 and 21,678. On the higher side, the index may face resistance at 21,934 followed by 21,977 and 22,048 levels.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
GIFT Nifty
Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 62 points or 0.28 percent. The Nifty futures were trading around the 21,924 level.
Trade setup for today: Top 15 things to know before the opening bell
US Markets
Wall Street's three major indexes closed higher on Tuesday after shares in hotshot chipmaker Nvidia shook off early losses and investors looked ahead to the Federal Reserve's policy meeting conclusion on Wednesday for clues on interest rate policy.
The Dow Jones Industrial Average rose 320.33 points, or 0.83 percent, to 39,110.76, the S&P 500 gained 29.09 points, or 0.56 percent, to 5,178.51 and the Nasdaq Composite gained 63.34 points, or 0.39 percent, to 16,166.79.
Asian Markets
Asia markets were trading higher in the early trade on Wednesday as investors digested the Bank of Japan’s landmark shift in monetary policy while awaiting the U.S. Federal Reserve’s interest rate decision.
SEBI confirms involvement of LIC employee in front-running of a big client's trades
The market regulator, SEBI, confirmed on March 19 that an employee of the Life Insurance Corporation of India (LIC) was involved in the front-running of a big client's trades.
In the confirmatory order, the Securities and Exchange Board of India said, "The Interim Order was passed based on the prima facie conclusions to prevent further perpetration of fraudulent trading activity and to prevent defalcation of the wrongful gains cumulatively amounting to INR 244.09 lakh (as elaborated in the Interim Order).
Direct tax collections were up 18.74% for FY24
For FY24 the gross direct tax collections were up 18.74 percent at Rs 22,27,067 crore, while net direct tax collections were up 19.88 percent at Rs 18,90,259 crore, YoY.
Advance tax collections for FY24 rose 22.3 percent at Rs 9,11,534 crore, YoY.
Yen slides to four-month
The yen tumbled to a four-month low on Tuesday after the Bank of Japan's momentous, widely anticipated decision to end its negative interest rate policy, while the dollar strengthened ahead of the Federal Reserve's latest outlook for rates.
Gold Prices
Gold prices retreated on Tuesday, hurt by a strengthening U.S. dollar, while investors geared up for the Federal Reserve's interest rate stance from Chair Jerome Powell's speech after the central bank's policy meeting on Wednesday.
Crude
Oil prices edged lower in early Asian trading on Wednesday, as a stronger dollar curbed investor appetite while traders took some money off the table after benchmarks rallied to multi-month highs in each of the past two sessions.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,421.48 crore, while domestic institutional investors (DIIs) purchased Rs 7,449.48 crore worth of stocks on March 19, provisional data from the NSE showed.
Stock under F&O ban on NSE
The NSE has added Indus Towers to the F&O ban list for March 20, while retaining Balrampur Chini Mills, BHEL, Biocon, Hindustan Copper, Piramal Enterprises, RBL Bank, SAIL, and Zee Entertainment Enterprises on the said list. Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company, and Tata Chemicals were removed from the said list.
With inputs from Reuters and other agencies
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