Latest Stock Market News

The Fed said it would reduce Treasury purchases by $10 billion and mortgage-backed securities by $5 billion, marking the beginning of the end of the program aimed at shielding the economy from Covid-19.

Assuming there are no negative reactions to deal with, the market is likely to see a rangebound session, with limited downsides. As per the options data, there are low chances of Nifty slipping below the 17,800 levels.

The Dow Jones Industrial Average rose 6.46 points, or 0.02 per cent, at the open to 36,059.09.

Rohit Singre, Senior Technical Analyst at LKP Securities said Nifty50 has formed a small consolidation zone of 17,600-18,000.

Fino Payments Bank or FPBL is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services.

Backed by veteran investor Rakesh Jhunjhunwala, the gaming technology company had caught investors’ imagination over the past nine months. In recent weeks, though, the stock has been down in the dumps.

“Loan provisioning can be lower because of change in the IRAC norms because we expect credit costs to gradually come down for the bank.”

India VIX, a barometer of volatility, plunged over 5 per cent. But the movement of headline indices shows traders are not keen to go long ahead of an extended weekend.

The Nifty Bank index closed 1.34 per cent down at 39402.05.

“Sun Pharma expects to gain momentum and continue to focus on building the prescriptions for core specialty products.”