Indian Stock Market Live Updates Today, 7 May 2021
Market Live Today 7 May: Indian stock markets are trading higher, Tata Steel is trading as the top gainer
Market live today 7 May: The Indian stock markets opened strong today amid positive global cues. Nifty opened at 14816.85 levels, made a positive opening of 92.05 points while Sensex made a gap up opening of 219.38 points at 49169.14 levels. The Bank Nifty on the spot price was opened at 33041.65 levels, up by 213.85 points.
At 9.45 am IST, Indian stock markets are trading higher, Sensex and Nifty are trading 0.95 percent and 0.93 percent up from the previous session. The Bank Nifty on the spot price is trading 1.07 percent higher at this moment.
Tata Steel, SBI Life, and JSW Steel are trading as the top gainers in the Nifty50 index whereas Tata Cons. Product, Hero Motors and Bajaj Auto are trading as the top losers. The most active stocks at this moment are Tata Steel, SBI Life, and JSW Steel.
On a sectoral basis, barring Hospitality sectors all other major sectors are trading in the green. The sectors that are helping the key indices to trade higher are Metals, Banking, Finance, and IT & Software.
Indian stock markets are likely to open positive
Good morning and welcome to the Indian stock market live today, 7 May at 7.55 am IST
The Asian markets are trading positively on Friday morning. Nikkei and Hang Seng are trading higher by 0.23 percent and 0.77 percent respectively. Shanghai is also trading higher by 0.38 percent at this moment. SGX Nifty is up by 71 points, indicating a positive opening for the Indian stock market today.
The US markets closed at days high on Thursday. The markets gained due to the strong corporate earnings and signs of continued improvement in the labor market. The US market indexes Dow Jones and S&P 500 gained 0.93 percent and 0.82 percent respectively. Nasdaq was up by 0.37 percent, snapping four days losing streak on Thursday
The European markets closed higher on Thursday as investors cheered strong earnings even after tech and travel stocks tried to drag down the markets. The European market indices CAC and DAX gained 0.28 percent and 0.17 percent respectively. While FTSE closed higher by 0.52 percent on Thursday.
Indian stock markets closed higher on Thursday amid positive cues from the Asian markets. The key market indices, Sensex and Nifty gained 0.56 percent and 0.73 percent respectively on Thursday. FIIs were the buyers and DIIs were the seller in the cash market. FIIs bought Rs 1222.58 crores while DIIs sold Rs 632.51 crores in the cash market on Thursday.
News that may impact the Indian stock market live today, 7 May
The Swiss brokerage house, Credit Suisse has sharply lowered its real GDP growth forecast for the fiscal year to around 8.5-9 percent. According to the foreign brokerage house, the second wave likely to hit the Indian economic growth and shave 100-150 bps growth off the economy. It has also warned that it will delay the economy from reaching a potential growth rate by an additional two /three years beyond 2022-23.
On Thursday, the International Monetary Fund said that the recent surge in coronavirus cases in India posed downside risks to the IMF’s April growth forecast of 12.5 percent growth in India’s economic output in FY2021-22. The IMF will revisit that forecast in July.
The weekly jobless claims in the US fell to a new pandemic-era low last week. It fell below 5,00,000 for the first time since March 2020. The initial jobless claims in the US for the week ended May 1 were 4,98,000 compared to 5,38,000 expected and a revised 5,90,000 during the prior week.
Today’s quarterly results- Housing Development Finance Corporation, Ultratech Cement, EIH, Dabur India, Great Eastern Shipping, Indo-City Infotech, Godrej Agrovet, Duncan Engineering, Automobile Corporation of Goa, etc.
You can visit again to read more updates on the Indian stock market live today 7 May, after the markets get open.
You may also like to read, Expert View on Nifty & Bank Nifty Futures Tomorrow 7 May
What is SGX Nifty? Can Indian trade in SGX Nifty?
Happy Investing !!
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