Mutual Funds Sahi Hai!
For the month of March 2021, total sales include domestic sales of 1,98,551 units and exports of 1,70,897 units, higher by 70% and 36% respectively over March 2020.
For FY21, total sales declined 14% to 39,72,914 units compared to 46,15,212 units sold in FY20.
The renewed strategy will centre on the development of common electric platforms to deliver the advantage of scale, regarding all critical components, allowing both companies to adapt quickly and effectively to evolving customer needs globally. Part of this remit involves an open approach to all battery opportunities, aiding the parallel advantage of both fixed and swappable solutions.
Bajaj Auto further added that the initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022.
The PIERER Mobility Group is Europe's leading manufacturer of powered two-wheelers. With its motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the European technologies and market leaders, especially for premium motorcycles.
Shares of Bajaj Auto were up 3.03% at Rs 3607.80 on BSE. Bajaj Auto is the world's third largest manufacturer of motorcycles and the largest manufacturer of three wheelers. It has its manufacturing facilities located at Chakan near Pune, Waluj near Aurangabad, and at Pantnagar in Uttarakhand.
The company's consolidated net profit jumped 29.8% to Rs 1,716.26 crore on 17.4% surge in net sales to Rs 8,730.10 crore in Q3 December 2020 over Q3 December 2019.
PIERER Mobility AG and Bajaj Auto originally joined forces to make a sizeable and relentless footprint in the international motorcycle industry and, as the partnership successfully reaches almost fifteen years of existence, the two companies have decided to jointly explore the zero tailpipe emissions, low maintenance, and long-lasting benefits of light electric vehicles in urban settings and dense metropolitan areas.
This renewed strategy will centre on the development of common electric platforms to deliver the advantage of scale, regarding all critical components, allowing both companies to quickly and effectively adapt to evolving customer needs globally. Part of this remit involves an open approach to all battery opportunities, aiding the parallel advantage of both fixed and swappable solutions.
Moving at pace, the initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 55 points at the opening bell.
On the coronavirus front, the vaccination drive will be opened up for all citizens above the age of 18 from May 1, the Government of India announced on April 19. The immunisation drive was currently restricted to only citizens aged above 45.
Global markets:
Overseas, Asian stocks are trading mostly lower on Tuesday as China kept its benchmark lending rate unchanged.
On the economic data front, China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations. The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.
U.S. stocks slipped from record levels to start the week on Monday as weakness in the technology sector weighed on the broader market.
On the coronavirus front, White House chief medical advisor Dr. Anthony Fauci said he expects the U.S. will resume administration of the Johnson & Johnson vaccine. The Food and Drug Administration asked states last week to temporarily halt using the single dose vaccine “out of an abundance of caution” after six women developed a rare blood-clotting disorder.
Domestic markets:
Back home, the key equity indices ended with significant losses on Monday. A spike in domestic coronavirus cases and localized lockdown being announced by various state governments dented investors sentiment. The barometer index, the S&P BSE Sensex, dropped 882.61 points or 1.81% to 47,949.42. The Nifty 50 index tumbled 258.40 points or 1.77% to 14,359.45.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,633.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,355.56 crore in the Indian equity market on 19 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 183 points at the opening bell.
On the coronavirus front, the Centre on Sunday banned the supply of oxygen for industrial purposes except in nine specified industries in view of shortage of the essential public health commodity in several states amid a spike in COVID-19 infections. The decision will come into effect from April 22.
Overseas, Asian stocks are trading mixed on Monday, with investors watching Alibaba's stock in Hong Kong following yet another development between affiliate Ant Group and billionaire Jack Ma.
Japan's exports posted their strongest growth in more than three years in March. Ministry of Finance data showed on Monday exports surged 16.1% in March from a year earlier, marking the steepest rise since November 2017. That was followed by a 4.5% contraction in February.
U.S. stocks rose again on Friday as the market's rally to records carried on amid strong earnings from blue-chip companies as well as solid data signaling a snapback in the economy.
Federal Reserve Governor Christopher Waller said Friday the U.S. economy is set to take off, but there's still no reason to start tightening policy.
The University of Michigan said Friday its preliminary consumer sentiment index rose to a one-year high of 86.5 in the first half of this month from 84.9 in March.
Back home, the equity indices ended with minor gains amid a volatile session on Friday. The barometer index, the S&P BSE Sensex, added 28.35 points or 0.06% to 48,832.03. The Nifty 50 index advanced 36.40 points or 0.25% to 14,617.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 437.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 657.55 crore in the Indian equity market on 16 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 16 points at the opening bell.
Overseas, Asian stocks are trading largely lower on Friday as investors reacted to the release of Chinese economic data.
China's gross domestic product surged 18.3% in the first three months of the year from a year ago, the country's National Bureau of Statistics said Friday. The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of Covid-19.
Meanwhile, China's retail sales jumped 34.2% in March. Industrial production rose 14.1% in March.
In US, the S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound.
Retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10.
Back home, key equity barometers reversed intraday losses and ended with decent gains on Thursday. Trading was volatile as rising COVID-19 cases continue to spook investors. The barometer index, the S&P BSE Sensex, gained 259.62 points or 0.53% to 48,803.68. The Nifty 50 index added 76.65 points or 0.53% to close at 14,581.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 979.70 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 526.63 crore in the Indian equity market on 15 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 115 points at the opening bell.
Overseas, Asian stocks are trading steady on Thursday after U.S. stocks eased from all-time peaks.
In US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season.
The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday.
In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's Covid-19 vaccine “out of an abundance of caution.”
Back home, stock markets were closed on Wednesday, 14 April 2021 on account of Dr.Baba Saheb Ambedkar Jayanti. Key equity indices ended with strong gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 660.68 points or 1.38% at 48,544.06. The Nifty 50 index gained 194 points or 1.36% at 14,504.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 243.80 crore in the Indian equity market on 13 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 46 points at the opening bell.
On the macro front, the Index of Industrial Production (IIP) showed industrial output in India once again shrank in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December.
The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021.
Overseas, Asian stocks edged higher on Tuesday following a muted finish overnight on Wall Street.
U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings.
Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates. He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point.
Back home, domestic equity indices ended with sharp losses on Monday, as surging COVID-19 cases in the country triggered fears of fresh lockdowns. The barometer index, the S&P BSE Sensex, slumped 1,707.94 points or 3.44% at 47,883.38. The Nifty 50 index tanked 524.05 points or 3.53% at 14,310.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,746.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 232.76 crore in the Indian equity market on 12 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 212 points at the opening bell.
India Inc is geared up to report its March quarter earnings from this week onwards with IT bellwether Tata Consultancy Services (TCS) scheduled to kick start the results season from today, 12 April 2021.
On the macro front, the Industrial Production and Manufacturing Production data for February will be released today, 12 April 2021.
Overseas, Asian stocks are trading mixed on Monday trade after the Dow Jones Industrial Average and S&P 500 notched record closing highs on Friday.
In US, the Dow Jones Industrial Average and S&P 500 index closed at record highs Friday as investors remain cautiously optimistic about economic growth and progress against the pandemic. Stocks linked to the recovering economy led the gains again amid the accelerating vaccine rollout.
On the data front, the U.S. producer-price index rose 1% in March, the U.S. Labor Department said Friday. The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That's the highest level since September 2011.
Back home, the domestic equity benchmarks ended with small losses after a volatile session on Friday. The barometer index, the S&P BSE Sensex, declined 154.89 points or 0.31% to 49,591.32. The Nifty 50 index lost 38.95 points or 0.26% to 14,834.85.
Foreign portfolio investors (FPIs) sold shares worth Rs 653.51 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 271.26 crore in the Indian equity market on 9 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 8 points at the opening bell.
Prime Minister Narendra Modi on April 8 said a number of states have crossed the peak of the pandemic's first wave. The need is to combat the health crisis on "war footing", he said in a review meeting held virtually with the chief ministers of states and union territories. The country is witnessing an unprecedented growth in new infections, Modi said, adding that the situation is a "big cause of worry" before the nation. A "vaccine utsav" should be observed from April 11 to April 14 to promote the usage of vaccine among the eligible section of the population, Modi told the chief ministers.
Overseas, Asian stocks are trading mostly lower on Friday after the S&P 500 on Wall Street cruised to yet another record closing high overnight.
In US, the S&P 500 rose to another record high on Thursday amid a strong rally in major technology stocks.
Federal Reverse chairman Jerome Powell signaled on Thursday that the economic rebound from the pandemic still has room to go as the recovery thus far hasn't been well-rounded. Powell also repeated that inflation is not expected to be serious even though near-term price pressures are likely.
Data showed an unexpected rise in the number of Americans filing new claims for unemployment benefits. A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday.
Back home, the domestic equity benchmarks ended with minor gains on Thursday, rising for the third straight session. The barometer index, the S&P BSE Sensex, gained 84.45 points or 0.17% to 49,746.21. The Nifty 50 index rallied 54.75 points or 0.37% to 14,873.80.
Foreign portfolio investors (FPIs) bought shares worth Rs 110.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 552.78 crore in the Indian equity market on 8 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 56 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday after the S&P 500 nudged higher to a record closing high overnight.
In US, the S&P 500 gained slightly to hit a record high on Wednesday. The moves on Wall Street came as the U.S. Federal Reserve released minutes from its March 16-17 meeting during which it kept its accommodative policy in place. The meeting summary indicated that while officials saw the economy was gaining considerably, they see much more progress needed before ultra-easy policy changes.
President Joe Biden recently unveiled details of his $2 trillion infrastructure plan that includes a corporate tax rate hike to 28%. He said Wednesday that he is willing to negotiate on the proposed tax increase.
Back home, the domestic equity benchmarks ended with strong gains on Wednesday, led by banks shares. Shares climbed after the RBI kept policy rates unchanged but committed to a massive government bond purchase programme. All the sectoral indices on the NSE ended in the green. The barometer index, the S&P BSE Sensex, advanced 460.37 points or 0.94% to 49,661.76. The Nifty 50 index added 135.55 points or 0.92% to 14,819.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 227.42 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 381.08 crore in the Indian equity market on 7 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.
The Reserve Bank of India (RBI) is slated to announce its first bi-monthly monetary policy of the 2021-22 fiscal today, 7 April 2021 after a three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das.
Overseas, Asian are trading mixed on Wednesday after Wall Street pulled back from record highs reached in previous sessions.
U.S. stocks fell from record levels on Tuesday as the recent rally driven by signs of strong economic rebound took a pause.
On Tuesday, California Governor Gavin Newsom said that the state will reopen its economy by June 15 provided that coronavirus vaccine and hospitalization cases remain stable.
The IMF on Tuesday projected an impressive 12.5% growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Indian economy is expected to grow by 6.9% in 2022.
The IMF revised up its forecast for the world economy. On Tuesday, the organization said it expects growth at 6% in 2021, up from a January prediction of 5.5%, and Chief Economist Gita Gopinath said that despite lingering uncertainties around the pandemic, a “way out of this health and economic crisis is increasingly visible.”
Back home, key equity indices ended with small gains after a volatile session on Tuesday. Gains were capped amid a spike in COVID-19 cases in the country. The barometer index, the S&P BSE Sensex, rose 42.07 points or 0.09% to 49,201.39. The Nifty 50 index added 45.70 points or 0.31% to 14,683.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,092.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 416.59 crore in the Indian equity market on 6 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 9 points at the opening bell.
Overseas, Asian stocks are trading mixed on Tuesday, after major indexes on Wall Street surged to record closing highs overnight stateside. Markets in Hong Kong are closed today for a holiday.
China's services sector activity grew in March, according to a private sector survey released Tuesday. The Caixin/Markit services Purchasing Managers' Index for March came in at 54.3, as compared to February's reading of 51.5.
U.S. stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening.
The Dow Jones Industrial Average rose 373.98 points to 33,527.19, a record closing high. The S&P 500 gained 1.4% to 4,077.91, also hitting a new record close. The tech-heavy Nasdaq Composite also climbed 1.7% to 13,705.59.
Treasury Secretary Janet Yellen on Monday pushed for a global minimum corporate tax in an effort to keep companies from relocating to find lower rates.
Meanwhile, a measure of U.S. services industry activity soared to a record high in March. The Institute for Supply Management's non-manufacturing activity index jumped to a reading of 63.7 last month. That was the highest in the survey's history and followed 55.3 in February.
Back home, the domestic equity benchmarks ended with significant cuts on Monday, led by weakness in banks and financial shares. A spike in domestic coronavirus cases and fresh curbs imposed by the Maharashtra government dented investors' sentiment. The S&P BSE Sensex, slumped 870.51 points or 1.74% to 49,159.32. The Nifty 50 index tumbled 229.55 points or 1.54% to 14,637.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 931.66 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 75.48 crore in the Indian equity market on 5 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 82 points at the opening bell.
In the wake of rising COVID-19 cases in Maharashtra, Uddhav Thackeray-led state government on April 4 imposed new curbs to control the transmission rate of the contagion. Maharashtra will be put under night curfew from 8 pm to 7 am from April 5.
Overseas, shares in Japan nudged higher on Monday as investors cheered a strong bounce in U.S. job growth last month amid accelerating vaccine rollout. Markets in Australia, mainland China and Hong Kong are closed today for holidays.
In US, the S&P 500 surged on Thursday to its first-ever close above the 4,000 mark, lifted by gains in Microsoft, Amazon and Alphabet, as well as optimism about a recovering U.S. economy.
The Labor Department reported Friday that nonfarm payrolls increased by 916,000 in March, the highest since August 2020, while the unemployment rate fell to 6%.
Back home, the markets remained shut on Friday, 2 April 2021 on account of Good Friday. The domestic equity indices ended near the day's high on Thursday, led by strength in banks and auto stocks. The barometer index, the S&P BSE Sensex, jumped 520.68 points or 1.05% to 50,029.83. The Nifty 50 index advanced 176.65 points or 1.20% to 14,867.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 149.41 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 296.84 crore in the Indian equity market on 1 April 2021, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 98 points at the opening bell.
Overseas, Asian stocks are trading higher on Thursday as US President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.
A private survey released Thursday showed slowing growth of Chinese factory activity in March. The Caixin/Markit manufacturing Purchasing Managers' Index (PMI) for March came in at 50.6, compared to February's reading of 50.9.
Japan's factory activity expanded at a faster pace in March. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 52.7 in March from the previous month's 51.4 reading.
In US, the S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares as investors positioned themselves for President Joe Biden's massive infrastructure plan.
U.S. President Joe Biden announced a more than $2 trillion infrastructure package on Wednesday. The plan's goals include the revitalization of America's transportation infrastructure as well as manufacturing.
Back home, the benchmark indices snapped two-day rising streak and ended with steep losses on Wednesday. The barometer index, the S&P BSE Sensex, tumbled 627.43 points or 1.25% at 49,509.15. The Nifty 50 index dropped 154.40 points or 1.04% at 14,690.70.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,685.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,081.52 crore in the Indian equity market on 31 March, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 77 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday as investors waited for the release of Chinese economic data.
In economic developments, China's factory activity expanded at a faster-than-expected pace in March. The official manufacturing Purchasing Managers Index (PMI) rose to 51.9 from 50.6 in February, data from the National Bureau of Statistics (NBS) showed today.
Japan's industrial output fell in February. Official data released today showed factory output shrank 2.1% from the previous month in February, dragged down by falls in production of cars, electrical machinery and information and communication equipment.
U.S. stocks fell Tuesday as major technology shares came under pressure again after the 10-year Treasury yield touched its highest level since January 2020.
The 10-year Treasury yield climbed 6 basis points to top 1.77% earlier Tuesday, hitting its highest level in 14 months as vaccine rollouts and expected infrastructure spending boosted the outlook for a broad economic recovery and rising inflation. The benchmark rate later turned flat at 1.72%.
The Conference Board's Consumer Confidence Index surged in March to 109.7, its highest reading in a year.
Back home, the domestic equity benchmarks ended with robust gains on Tuesday, mirroring firm global stocks. The barometer index, the S&P BSE Sensex, soared 1,128.08 points or 2.30% at 50,136.58. The Nifty 50 index surged 337.80 points or 2.33% at 14,845.10.
Foreign portfolio investors (FPIs) bought shares worth Rs 769.47 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,181.01 crore in the Indian equity market on 30 March, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 28 points at the opening bell.
On the political front, Prime Minister Narendra Modi will address election rally in Puducherry today, 30 March 2021 to seek support for the NDA in the union territory.
All eyes will be on outcome of state assembly elections. Polls are to be held for 294 seats in West Bengal, 234 seats in Tamil Nadu, 140 seats in Kerala, 126 seats in Assam and 30 seats in the Union Territory of Puducherry.
The eight-phase election in West Bengal which began from March 27 will continue till April 29. Elections in Kerala will be held in a single phase on April 6. Puducherry will vote in a single phase on April 6. Elections in Tamil Nadu will be held in a single phase on April 6. Assam will vote in three phases on March 27, April 1 and April 6. The counting of votes for all states will be held on May 2 and the results will be declared the same day.
Overseas, Asian stocks are trading mixed on Tuesday as investors watched movement in shares of Japanese financial services firm Nomura following their Monday plunge.
Japan's retail sales declined 1.5% in February from a year earlier, according to a preliminary report released Tuesday by the country's Ministry of Economy, Trade and Industry.
Wall Street closed lower on Monday after US hedge fund Archegos Capital defaulted on margin calls. The S&P 500 ended just slightly in the red, with bank shares falling amid warnings of potential losses from a hedge fund's default on margin calls, while optimism over the economy limited the day's declines.
President Joe Biden's announcement that 90% of adults will be eligible for the Covid-19 vaccine next month helped U.S. stocks rally from their lows, and the Dow Jones Industrial Average closed at another all-time peak.
Back home, the domestic equity benchmarks ended with strong gains on Friday, mirroring firm global stocks. The barometer index, the S&P BSE Sensex, was up 568.38 points or 1.17% to 49,008.50. The Nifty 50 index surged 182.40 points or 1.27% to 14,507.30. Stock markets were closed on Monday, 29 March 2021, on account of Holi.
Foreign portfolio investors (FPIs) sold shares worth Rs 50.13 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,703.14 crore in the Indian equity market on 26 March, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could advance 130 points at the opening bell.
Overseas, Asian stocks rose in Friday trade following an overnight rebound on Wall Street.
U.S. stocks staged a late-day comeback on Thursday, boosted by economic comeback plays as the market rebounded from a two-day losing streak.
Federal Reserve Chairman Jerome Powell acknowledged Thursday that fiscal help from Congress and accelerated vaccine distribution has allowed the U.S. to recover faster than expected.
Back home, key equity indices ended near the day's low on Thursday amid broader selling pressure. The barometer index, the S&P BSE Sensex, slumped 740.19 points or 1.51% to 48,440.12. The Nifty 50 index tumbled 224.50 points or 1.54% to 14,324.90.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,383.60 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,267.69 crore in the Indian equity market on 25 March, provisional data showed.