Brookfield Real Estate Investment Trust (REIT) unit price has been surging higher and higher after hitting a bottom at the end of March. Brookfield India REIT has gained 15% since 26 March. With this, domestic brokerage and research firm IIFL Securities has initiated coverage of the REIT with a ‘Buy’ rating. Analysts at IIFL see Brookfield REIT as an attractive dividend play with a high-quality portfolio and visible growth pipeline. Currently, Brookfield India REIT trades at Rs 253 apiece, still below its IPO price.
The momentum in the job market seems to have slowed in April, impacted by the ferocious second wave of the coronavirus infections. The closing figures for April registered a fairly steep fall of 31% over March and emerged the lowest closing count for 2021.
After registering profits for two consecutive days, Nifty PSU Bank index and the Bank Nifty index were down in the red on Thursday morning. Bank Nifty fell 0.33% while Nifty PSU Bank index was down 1.14%.
On Wednesday, RBI announced a slew of measures to tackle the second Covid-19 wave in the country. It was “RBI’s financial vaccine” to the healthcare providers, key medical suppliers, small borrowers MSMEs and businesses. However, the announcement of the upcoming third wave of the Covid variant in Maharashtra surely leaves doubt over the reopening of the business activity. Further, recovery in DXY could pressurize on emerging market currencies ahead of Friday’s official US job report. Overall, we expect the USDINR pair to form a base near 73.70-80 and rebound sharply above 74.80-75.00 levels. Today, the focus will be on BoE policy and the Scotland election. Amit Pabari, managing director, CR Forex Advisors
“The trend of positive news alternating with negative news continues. President Biden’s decision to back waiving intellectual property rights on vaccines is a big positive. This will quicken the vaccination process enabling countries like India to come out of the pandemic faster. But data on daily infections indicate a rise, though mild, after 5 days of decline. Also, lockdowns & restrictions on mobility are increasing, impacting the economic recovery. Now there are two broad views regarding the peaking of the second wave: One, peaking by mid-May; two, peaking by July. If the first scenario plays out, the hit to economic growth will be a marginal, say, 1% decline from the estimates of 11% growth in FY22. In the second scenario, the hit will be worse. It remains to be seen which scenario will play out. Investors may wait & watch. IT, pharma, metals & telecom are likely to remain resilient even under difficult times,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Gold prices were trading higher in India on Thursday, due to a weaker US dollar. MCX gold June futures were trading Rs 77 or 0.16 per cent higher at Rs 47,077 per 10 gram, as against the previous close of Rs 47,000. Silver July futures were ruling at Rs 69,677 per kg, up Rs 58 on Multi Commodity Exchange. Silver futures ended at Rs 69,619 per kg in the previous session.
“The markets are slowly treading towards 14700. It is imperative it closes and sustains above this level. That will be a bullish signal which will lead the Nifty to 15100-15200. If we break 14400, we will slide down to 14000-14100,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
The National Stock Exchange resolved issue with its website that led investors to complain about data not being updated on the website.
Investors took to Twitter to voice their displeasure as the NSE website failed to load option chain data on weekly expiry day.
NSE was facing glitches on its website early Thursday morning on weekly expiry. However, no issue in placing trade orders has so far been reported.
The National Stock Exchange (NSE) website was facing glitches early Thursday morning. Investors were unable to tract data as NSE website showed ‘No Record’ error.
Sensex is up 37 points, minutes after the opening bell. The index trimmed almost all opening gains while Nifty was nearing 14,600.
Sensex opened above 48,800 mark on Thursday morning, while Nifty 50 was still below 14,700. ONGC was the top index gainer followed by Bajaj Finance.
Sensex was still in the green during the pre-open session but down from its highs. Nifty gave up 14,700 mark.
Sensex zoomed past 49,000 mark in the pre-open session on Thursday morning while Nifty was above 14,700.
‘Benchmark Indices are expected to open on a positive note as indicated by trends on SGX Nifty. US Indices closed with gains as Dow Jones hits a fresh new all-time high and Asian markets also opened stronger with Nikkei trading 2% higher. Key companies announcing their quarterly results today include Adani Power, Coforge, Hero MotoCorp, Adani Transmission, P&G Health, Bluestar, Praj Industries and Tata Consumer. Immediate support and resistance for Nifty 50 are 14,500 and 14,800 respectively,’ said Mohit Nigam, Head – PMS, Hem Securities.
While the Nifty has corrected from the high of 15,044, the index continues to hold above a rising trend line that has held the important lows of the last few months. This implies that the index remains in an intermediate uptrend. With the strong bounce-back seen on Wednesday, traders will need to watch if the Nifty can now hold above the crucial supports of 14,506-14,461 in the very near term. Further upsides are likely once the immediate resistances of 14,723 are taken out.
Nifty futures on Singaporean Exchange were trading 34 points or 0.23 per cent up at 14,724.50 on Singaporean Exchange, indicating a positive start for BSE Sensex and Nifty 50 on Thursday. S&P BSE Sensex sits at 48,677.55, while NSE’s Nifty index closed at 14,617. Asian stock markets were seen trading higher in early trade on Thursday. Investors will closely watch rising COVID-19 cases, as India added another 4.12 lakh fresh cases in the last 24 hours.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were hiked for the third day running on Thursday. Petrol in Delhi now costs Rs 90.99 per litre, an increase of 25 paise since yesterday. Diesel price was increased by 30 paise to Rs 81.42 per litre. Prices were first changed on Tuesday after an 18 hiatus. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
BSE Sensex and Nifty 50 were staring at a positive start on Thursday, after surging nearly one per cent higher in the previous session. S&P BSE Sensex sits at 48,677.55, while NSE’s Nifty index closed at 14,617. Trends on SGX Nifty were positive with Nifty futures up 57 points or 0.39 per cent at 14,757.50. Technical analysts believe that Nifty May series might trade with a positive bias.
The Reserve Bank of India (RBI) on Wednesday announced immediate liquidity of Rs 50,000 crore for banks for enabling them to extend Covid loans to healthcare entities. This liquidity window available at the repo will remain open till March 31, 2022. Under this scheme, banks can provide fresh lending support to vaccine manufacturers, hospitals and also patients for treatment, among others.
The Reserve Bank of India (RBI) on Wednesday allowed lenders to carry out a fresh round of restructuring of small borrower accounts which had not availed of the benefit of the recast scheme for Covid-related stress last year.