Condition of sectoral index
On the sectoral front, selling is seen in Auto, Bank Nifty, FMCG, Pharma, IT and Tech sectors. Whereas, the sectors that trade on the green mark today are Capital Goods, Consumer Durables, Metal, Oil & Gas and PSUs. CNX Midcap is also seeing an edge.
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Bharti Airtel is trading with a gain of 5 per cent. Apart from this, UPL, Tata Steel, GAIL and HDFC Life have also started business on the green mark today. On the other hand, Hero MotoCorp, Shree Cements, Asian Paints, Tech Mahindra and Ultratech Cement are trading on the red mark.
HCL TECH has announced its results for the third quarter. The company reported a profit of Rs 3,982 crore in the third quarter, while this profit was estimated to be Rs 3201 crore. At the same time, the company’s revenue in the third quarter was Rs 19302 crore, while it was estimated to be Rs 19115 crore.
Recovery in DOW futures, pressure on Asia
Joe Biden announced a $ 1.9 trillion relief package in the US. But cautious business has been seen in the US market. DOW FUTURES improved by 100 points from lower levels. In yesterday’s trade, the US Small Cap Index set a new record. There has been initial pressure on Asia and SGX NIFTY.
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Relief package announced in US
Joe Biden has announced a $ 1.9 trillion relief package. Direct payment of $ 1,400 will be available under the package. The total relief has increased to $ 2,000 million, including $ 600 million in December. The minimum wage is fixed at $ 15 per hour. Meanwhile, jobless claims have increased to 1 million in the US. The most jobless claims have been found since Corona began. On the other hand, Trump has blacklisted Chinese company Xiaomi. Trump has also blacklisted China National Offshore Oil Corp. Meanwhile, the Fed Chairman has said that rates will not go up as long as inflation remains low.