Sensex Today | Share Market Live Updates: Bitcoin breaches the $38,000 mark
Views from Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange:
The crypto market witnessed impressive growth with Bitcoin breaching the $38,000 mark on growing optimism around ETF approval. In the latest prediction by banking giant Standard Chartered, Bitcoin is well-positioned to touch the $100,000 mark by the end of 2024. An early approval of Bitcoin ETF will act as a catalyst and may result in a significant surge in Bitcoin prices. US Central may go for a reduction in interest rates if inflation shows signs of cooling down, this may add to the optimism in the market and drive the momentum in the coming weeks.
Sensex Today | Share Market Live Updates: Nifty IT index surges most among all sectoral indices
IT companies, which earn a significant share of their revenue from the US, surged on Wednesday after Fed governor Christopher Waller flagged the possibility of lowering the interest rate in the months ahead if inflation continued to come down.
Sensex Today | Share Market Live Updates: Ireda shares list at 56% premium
Shares of renewable energy financing company Ireda listed at a 56.25% premium to the issue price on the exchanges on Wednesday.
The stock made its debut at ₹50 apiece on both the National Stock Exchange and the BSE compared with the IPO price of ₹32.
Sensex Today | Share Market Live Updates: Rupee rises 6 paise to 83.28 against US dollar in early trade
The Indian rupee rose for the second straight session, gaining 6 paise to 83.28 to a dollar in early trade on Wednesday, as the US greenback fell against global peers, news agency PTI reported.
A rebound in Indian equity markets and easing crude oil price also boosted the Indian currency, said Forex traders.
At the interbank foreign exchange, the rupee opened stronger at 83.30 against the dollar but slipped to 83.33. It later traded at 83.28 against the greenback, up 6 paise over its previous close.
On Tuesday, the rupee rebounded from record low levels and settled 6 paise higher at 83.34 against the US dollar.
Sensex Today | Share Market Live Updates: Nifty technical outlook by Reliance Securities
NIFTY-50 has closed above the critical resistance of 19,850 levels and at 2 month high trending near the high point of the range for the current expiry. We continue to remain positive till 19,580 is not breached on the downside which is the band of averages on the daily charts.
RSI is moving higher from the lower range and trending above the average line and there could be some bout of volatility with respect to the rollover movement.
Highest call OI has moved to 20,000 strike while on the downside the highest put OI has moved higher to 19800 for the weekly expiry.
Sensex Today | Share Market Live Updates: Zomato shares rise after block deal
An estimated 29 crore shares of Zomato changed hands on the exchanges at a floor price of ₹112 apiece in a block deal on 29 November. The transaction value was ₹3,248 crore.
On Tuesday, the stock had closed ₹113.80.
Ant Group’s payments platform Alipay was set to offload shares of Zomato Ltd in a $395 million block deal on Wednesday, according to a term sheet reviewed by Mint.
Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore.
Sensex Today | Share Market Live Updates: Indices soar at open; Zomato shares in focus
At open, the benchmark Sensex was up 258.32 points or 0.39% at 66,432.52, and the Nifty was up 83.50 points or 0.42% at 19,973.20. About 1,705 shares advanced, 463 declined, and 108 were unchanged.
Sensex Today | Share Market Live Updates: Sensex up, Nifty above 19950 in pre-open
In pre-open, the benchmark Sensex was up 206.90 points at 66,381.10, while the Nifty 50 rose 98.80 points, or 0.5% to 19,976.70.
Sensex Today | Stock Market LIVE Updates: Dollar drops to near four-month low on bets of Fed rate cuts
The dollar slid to the weakest level since early August as swap traders ramp up bets the Federal Reserve will cut interest rates as early as May, news agency Bloomberg reported.
The Bloomberg Dollar Spot Index fell for a fifth day as fears of a recession and dovish Fed commentary spurred investors to wager the central bank will have to reverse its most aggressive tightening cycle since the 1980s.
Elsewhere, New Zealand’s dollar led gains among Group-of-10 peers after the nation’s central bank warned more hikes may be coming next year, while the yen strengthened to a two-month high as jitters over higher US rates waned
Sensex Today | Stock Market LIVE Updates: Gold hits six-month high as Fed’s rate-cut momentum swells
Gold extended gains after rising 1.3% to the highest level since May on Tuesday, as comments from Federal Reserve officials bolstered bets it will start cutting interest rates next year, news agency Bloomberg reported.
The dollar weakened and Treasuries added to their November rally after Governor Christopher Waller, one of the most hawkish Fed officials, said policy is well positioned to return inflation to the central bank’s 2% goal, suggesting rates may not need to rise again. Lower borrowing costs are typically negative for non-yielding bullion.
Bullion has rallied more than 12% since early October, initially fueled by haven buying in the wake of the Israel-Hamas conflict. This week, investors will monitor watching US economic data, including the Fed’s preferred measure of underlying inflation, for further clues on the direction of interest rates.
Sensex Today | Stock Market LIVE Updates: Charles T. Munger, Warren Buffett’s long-time partner, dies at 99
Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.
He died on Tuesday at a California hospital, the company said in a statement. He was a longtime resident of Los Angeles. (Read here)
Sensex Today | Stock Market LIVE Updates: DOMS Industries and lender Jana Small Finance Bank, 3 others get Sebi nod for IPOs
India Shelter Finance, pencil maker DOMS Industries and lender Jana Small Finance Bank, have received capital markets regulator Sebi’s go-ahead to raise funds through initial public offerings (IPOs).
Vadodara-based Shiva Pharmachem and FMCG firm Onest Ltd. have also secured approvals to float public issues, according to information available on the Sebi website.
Sensex Today | Stock Market LIVE Updates: Adani group’s m-cap posts biggest rise since Hindenburg report
On Tuesday, the Adani Group of stocks showed its biggest increase in market capitalization of over a trillion rupees for the first time since the Hindenburg report surfaced, days after the Supreme Court reserved its judgement on a bunch of public interest litigations pleading for a court-monitored investigation into allegations of corporate malfeasance and manipulation against the ports to renewables conglomerate.
The market, which was closed for the Guru Nanak Jayanti holiday on Monday, reacted to the conclusion of the SC hearing on Friday as investors interpreted some of the SC’s observations as its having confidence in Sebi’s investigation pertaining to the Hindenburg report that was released on 24 January. (Read here)
Sensex Today | Stock Market LIVE Updates: GIFT Nifty up marginally amid mixed global cues
GIFT Nifty on the NSE IX rose 23 points, or 0.11 per cent, at 20,150.50, indicating a flat to positive start for Indian indices on Wednesday.
Sensex Today | Share Market Live Updates: Asian equities mixed as traders look for cues
Asian equities looked headed for another mixed session on Wednesday.
Japan’s benchmark Nikkei 225 index was down 0.33%, or 109.57 points, at 33,298.82 in early deals, while the broader Topix slipped 0.21% to 2,371.81.
Australia’s benchmark rose after monthly inflation gauge snapped two months of acceleration in October, bolstering the case for the Reserve Bank to resume pausing interest rates next week.
Hong Kong shares were barely moved at the open of business Wednesday following another unremarkable day on Wall Street as traders kept their powder dry ahead of inflation data later in the week.
The Hang Seng Index inched up 4.94 points to 17,359.08.
The Shanghai Composite Index was also flat, dipping 0.09 points to 3,038.46, and the Shenzhen Composite Index on China’s second exchange eased 0.06% to 1,903.65.
Overnight, stocks in the US drifted to a mostly higher close Tuesday following a strong report on consumer confidence and a boost to hopes that the Federal Reserve is finished with its aggressive interest rate hikes.
The S&P 500 edged up 0.1% after hovering between small gains and losses. The Dow Jones Industrial Average rose 0.2% and the Nasdaq composite eked out a 0.3% gain.
Gains in technology stocks, retailers and other sectors helped temper declines elsewhere in the market.