On Thursday the S&P BSE Sensex moved above 50,000 mark for the first time, led by gains in Reliance Industries after the market regulator SEBI approved Reliance Industries’ ₹ 24,713-crore deal to buy Future Group’s retail assets, in a blow to Amazon’s efforts to block the agreement.
On Wednesday crude oil prices rose for a second consecutive day, as the market expects the incoming U.S. Administration to “act big” in the next COVID relief package. As of 9:17 a.m. ET on Wednesday, which is Inauguration Day for President-elect Joe Biden.
On Wednesday Indian indices edged higher to end at a record close, snapping two sessions of losses, led by gains in IT and auto stocks. Nifty Bank and Nifty Metal were also positive, lifting the sentiment further, however, FMCG was the only index to end in the red.
On Wednesday Indian indices edged higher led by gains in IT and Auto stocks. Nifty Bank, Nifty Metal and Nifty Pharma were also positive, lifting the sentiment further. Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up 0.5-1 percent.
Ether is closing in on an all-time high. The cryptocurrency, one of many alternatives to bitcoin, rallied as much as 17% today to an intraday high of $1,439, according to data from industry site CoinDesk.
On Tuesday U.S. Treasury yields climbed, as traders watched for comments from Treasury Secretary nominee Janet Yellen, who is expected to speak in front of the Senate Finance Committee later in the day.
Last week prices of natural gas in Asia hit a record high and will likely go down from here, according to political risk consultancy Eurasia Group. “We’ve heard single cargos indeed sell in the high $30s, I heard one at $39 [per million British thermal units],” said Henning Gloystein, director of energy, climate and resources at Eurasia.