Share Market Live: SGX Nifty Hints At Gains; Zee, Lupine and Airtel in focus before RBI policy


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Asian stocks rose Thursday after progress on the US debt ceiling deadlock lifted stocks on Wall Street.

Stocks rose in Japan, Australia and South Korea, while US futures rose as well. The S&P 500 and Nasdaq 100 erased losses of more than 1% to close with gains on a possible deal to raise the debt ceiling until December. This would mitigate the immediate risk of a default but leave the political struggle simmering in Washington.

The Singapore-traded SGX Nifty Index, an early indicator of the performance of the Indian Nifty 50 Index, rose 0.80% to 17,769.

To further help sentiment, President Joe Biden plans to meet with Chinese President Xi Jinping virtually before the end of the year, and Russia has offered to ease Europe’s energy crisis. Meanwhile, the European Central Bank is considering a new bond buying program to avoid market turbulence when emergency purchases are staggered.

The yield on the 10-year US Treasury bill edged up. Investors continue to compare the economic recovery to the inflation risks associated with rising energy costs. ADP jobs data has beaten expectations and a strong US non-farm payroll report on Friday could cement expectations of a cut in Federal Reserve stimulus from next month .

Crude oil fell from a seven-year high following growth in US inventories and after the signal from Russia. In cryptocurrencies, Bitcoin surged above $ 55,000. Chinese markets are closed for holidays and reopen on Friday.

Back home, the Indian court will hear the Zostel-Oyo case, Zee Entertainment is asking for more time to respond to a petition filed by Invesco. Ministry of Health to inform about the virus situation and the progress of vaccination.

India has halved the interest payable on deferred payments of telecommunications fees to 2% above the one-year marginal cost of the State Bank of India lending rate effective Oct. 1, the State Bank of India said. Ministry of Telecommunications in a press release.

Foreign investors bought shares net of Rs 587 crore on Tuesday, according to the NSDL website.

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