Indian benchmark Indices are expected to be on a positive note on account of global cues. Drop in US initial jobless claim put the focus back on the economic recovery. Technology companies led a rebound in US equities yesterday after a report showing applications for state unemployment insurance fell last week to a fresh pandemic low renew optimism in the economic recovery.
At 09:02 IST, the Sensex was up 201.52 points or 0.41 percent at 49766.38, and the Nifty was up 29.70 points or 0.20 percent at 14935.70.
SGX Nifty was trading with gains, sitting more than 100 points higher.
FIIs were net buyers Rs 71crore while DIIs were net sellers Rs 876 crore in yesterday's session. Expects positive sentiment in the market on account of smart rally in the global markets. Moreover, significant falls in the pandemic cases in the last few sessions will boost market sentiment, said Mohit Nigam, Head-PMS, Hems Securities.
Key companies announcing their quarterly results today includes State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries, South Indian Bank Crompton Greaves Consumer Electricals etc. Immediate support and resistance for Nifty 50 are 14,800 and 15200 respectively.
Fuel rates up
Petrol and diesel prices were hiked after being unchanged for two days. In Delhi, petrol prices are up by 19 paise from Rs 92.85 per litre to Rs 93.04 per litre. Diesel prices are up by 29 paise from Rs 83.51 per litre to Rs 83.80 per litre.
Petrol and diesel prices are the highest in Mumbai. In Mumbai, petrol is being retailed at Rs 99.32 per litre and diesel is sold at R 91.01 per litre. In Chennai petrol prices are retailed at Rs 94.71 and diesel at Rs 88.62 per litre. In Kolkata petrol is available at Rs 93.11 and diesel at Rs 86.64 per litre.
The price of petrol has crossed Rs 100 per litre in some districts of Maharashtra, Madhya Pradesh and Rajasthan. Diesel, too, is retailing over Rs 90 per litre across many districts in the country.