Markets Live: Sensex rises 250 pts, Nifty above 13,450; India Bank jumps 9%, Yes…

OPENING BELL: Sensex rises 250 pts, Nifty above 13,450; India Bank jumps 9%, Yes Bank 8%

Pre-open session: Sensex rises 250 pts, Nifty nears 13,450

SGX Nifty signals positive start

Nifty futures on the Singapore Exchange traded 37.50 points, or 0.28 per cent, higher at 13,453, in signs that Dalal Street was headed for a positive start on Wednesday.

Tech View: Nifty forms Doji candle

Nifty50 on Tuesday breached the 13,400 level on an intraday basis but could not sustain the gains. Buying was seen later at lows, as the index ended almost where it had opened, thereby forming an indecisive Doji on the daily chart. The index made a higher high higher-low candle for the seventh session in a row, but the advance-decline ratio was slightly tilted in favour of the bears, hinting at wide profit booking in the broader market.

Hong Kong, China stocks rise at open

Hong Kong stocks recovered Wednesday from two days of losses, tracking more records on Wall Street as investors cheered signs of progress on a new US stimulus package. The Hang Seng Index rose 0.78 percent, or 205.86 points, to 26,510.42. The benchmark Shanghai Composite Index gained 0.17 percent, or 5.90 points, to 3,416.08, while the Shenzhen Composite Index on China’s second exchange added 0.13 percent, or 2.90 points, to 2,296.88.

Tokyo stocks open higher on US rallies

Tokyo stocks opened higher on Wednesday as investors took heart from fresh Wall Street records fuelled by coronavirus vaccine progress. The benchmark Nikkei 225 index gained 0.40 percent or 106.43 points to 26,573.51 in early trade, while the broader Topix index was up 0.17 percent or 2.94 points at 1,761.75.

Oil edges lower after jump in US stockpiles

Oil prices edged lower on Wednesday on concerns over an unexpected jump in U.S. oil inventories last week, but positive news on COVID-19 vaccines lifted investors hopes for a recovery in fuel demand, capping losses. Brent crude futures slipped 13 cents, or 0.3%, to $48.71 a barrel by 0151 GMT, having gained 5 cents the previous day. U.S. West Texas Intermediate (WTI) crude futures dropped 15 cents, or 0.3%, to $45.45, after shedding 16 cents on Tuesday.

US stocks settled higher

On Tuesday, the S&P500 rose 10.29 points, or 0.3 per cent, to 3,702.25. The Dow Jones Industrial Average gained 104.09 points, or 0.4 per cent, to 30,173.88. The Nasdaq composite picked up 62.83 points, or 0.5 per cent, to 12,582.77.

Sebi suggests compliance standards for index providers

Markets regulator Sebi on Tuesday proposed a set of compliance standards for index providers, which design and develop indices, in a bid to ensure quality and integrity of such gauges. The suggested framework is based on IOSCO (International Organization of Securities Commissions) principles, practices observed in the foreign jurisdictions and suitability for domestic markets, Sebi said…