Indian benchmark Indices are expected to open on a flat note on account of global cues. US closed lower in the last three trading sessions on a highly volatile market. Dow Jones slipped half percent but recovered over 300 points from the intra-day low. Nasdaq Composite ended flat (recovers from intra-day low), boosted by late-day gains in tech stocks including Facebook Inc, said Mohit Nigam, Head-PMS, Hem Securities.
The official statement from FOMC minutes meeting was cautiously optimistic about the US recovery. At its worst moment, Bitcoin and other cryptocurrencies held double-digit percentage losses as the statement given by the People’s Bank of China reiterating that digital currency can’t be used as a form of payment. Both FIIs and DIIs were net sellers Rs698cr and Rs 853cr in yesterday session.
Key companies announcing their quarterly results today includes Bosch, Havells India, Zee Entertainment Enterprises, HPCL, Torrent Power, JK Lakshmi Cement, KNR Constructions etc. Immediate support and resistance for Nifty 50 are 14,800 and 15,200 respectively.
Fuel prices remain unchanged
On Thursday, petrol and diesel prices were unchanged for the second consecutive day. In Delhi, a litre each of petrol is being retailed at Rs 92.85 and diesel Rs 83.51 per litre, according to Indian Oil Corporation.
Petrol and diesel prices are the highest in Mumbai. In Mumbai, the price of petrol prices is Rs 99.14 per litre and diesel Rs 90.71 per litre. In Chennai, petrol is priced at Rs 94.54 per litre while for diesel it is Rs 88.34 per litre. The price of petrol in Kolkata is Rs 92.92 per litre and diesel is sold at Rs 86.35 per litre.
Rates had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, the price in Mumbai too was inching towards that level