Stock Market Live Updates: SGX Nifty rises over 100 pts; key Asian markets closed for holidays; all eyes of Rs 20,557 crore LIC IPO

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Q4 results today

Adani Green, Kotak Mahindra Bank, Adani Total Gas, Havells India, Tata Consumer Products, ABB, EIH, Deepak Nitrite, Equitas SFB and Oracle Financial Services are among companies which will announce their March quarter results today.

Rs 20,557 crore LIC IPO to open today

The Initial Public Offering (IPO) of LIC opens for retail and institutional investors on Wednesday and will close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will also get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per share.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 102.50 points, or 0.60 per cent, higher at 17,087, signaling that Dalal Street was headed for a positive start on Wednesday.

Tech View: Nifty50 bulls fight back; broader range stays intact

Nifty50 on Monday saw a gap-down but recouped most losses by the end, forming a bullish candle on the daily chart. While the momentum turned positive, the broader range of 17,300-16,800 stayed intact and analysts believe only a break of this range on either side would lead to a decisive move. Nifty50 is currently placed at the valuation support and also at the 200-day EMA around 16,900 level. A reasonable buying had emerged from this support and the market has witnessed minor upside bounce for 1-2 sessions at this level.

Hong Kong stocks dip at open

Hong Kong shares kicked off Wednesday with a small loss following a mildly positive lead from Wall Street ahead of an expected Federal Reserve rate hike decision later in the day.The Hang Seng Index eased 0.36 percent, or 76.19 points to 21,025.70.

Key Asian markets closed for holidays

Financial markets in China, Indonesia, Japan, Malaysia and Thailand are closed on Wednesday for public holidays.

Stocks edge higher on Wall Street ahead of Fed rate decision

US stocks eked out modest gains after a choppy day of trading Tuesday as Wall Street waits to find out how aggressively the Federal Reserve will raise interest rates at its latest policy meeting on Wednesday. The S&P500 ended 0.5% higher after briefly slipping into the red earlier in the day. The Dow Jones Industrial Average rose 0.5% and the Nasdaq inched up 0.2%. Banks and other financial stocks helped lift the market.

Rupee closes flat at 76.48 against dollar amid forex outflows

The rupee pared initial gains to settle almost flat at 76.48 against the US dollar on Monday as subdued domestic equities offset the impact of a sharp decline in global crude oil prices. A strengthening American currency overseas and continuous foreign fund outflows also weighed on the domestic unit, forex traders said.

Sensex, Nifty to resume trade today

India’s equity market was closed on Tuesday, May 3, for a holiday. The market will resume trading on Wednesday, May 4. The NSE Nifty 50 index was down 0.2% at 17,069.10, on Monday, while the S&P BSE Sensex fell 0.15% to 56,975.99. The 10-year benchmark bond yield ended at 7.118%, while the rupee settled at 76.5150 to the dollar.

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