Stock market live updates on March 21: The Indian bourses are looking to start on a positive note on Thursday tracking strong global cues. Overnight in the US, the Fed kept its interest rates unchanged and stuck on its promise of three rate cuts in the current calendar year. Markets across Asia Pacific rode high on the news.
The Gift Nifty futures too suggest a likely gap-up start at 07:10 AM, the futures were up 168 points against the Nifty 50 futures at 22,078.
Japan’s Nikkei 225 soared 1.57 per cent to reach an all-time high, with the Topix also setting a new record by climbing 1.41 per cent.
Meanwhile, South Korea’s Kospi surged 1.52 per cent, reaching its highest level since April 2022, and the Kosdaq rose 1.48 per cent. Hong Kong’s Hang Seng Index futures was also up by 1.51 per cent at 16, 793 levels.
Overnight in the U.S., all three major indexes experienced gains, with both the Dow Jones Industrial Average and the S&P 500 setting new record highs, rising 1.03 per cent and 0.89 per cent respectively. Meanwhile, the Nasdaq Composite saw a significant jump of 1.25 per cent, driven by strong performances from mega cap technology stocks.
Stocks in focus today:
RVNL: Rail Vikas Nigam has secured the position of the lowest bidder for an electric traction system project valued at Rs 167.28 crore with SER HQ-Electrical/South Eastern Railway.
Cyient: Cyient has announced that Infotech HAL has initiated a corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) at the National Company Law Tribunal, Bangalore.
Torrent Power: The company has entered into a share purchase agreement with Solapur Transmission to acquire a 100 per cent stake aimed at establishing a transmission system to facilitate the evacuation of power from renewable energy projects in Maharashtra.
