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Sensex, Nifty Pre-Market Cues: All You Need To Know Going Into Trade on 11 January

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Caution ahead of the key micro-economic data and selling in the financials sector dragged the major indices in the red during the pre-afternoon trade session on Friday.

Key macro-economic figures like forex reserves, Index of Industrial Production and manufacturing output are set to be released on Friday.

Realty stocks traded over 1 per cent lower after Finance Minister Arun Jaitley said at
Thursday’s GST Council Meeting that owing to diverse opinion, a decision on the much-expected rate reduction for under-construction homes will be taken at a later meeting.
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The IT sector stocks also witnessed heavy selling pressure. Financials too traded in the red.

The BSE Sensex opened at 36,191.87 from its previous close at 36,106.50 on Thursday.

At 10.40 a.m., the Sensex traded at 36,040.61 lower by 65.89 points or 0.18 per cent.

The Nifty50 of the National Stock Exchange (NSE) opened at 10,834.75 after closing at 10,821.60 on Thursday.

The Nifty traded at 10,803.85 during the morning trade session, down 17.75 points or 0.16 per cent.

Stock-wise, IT major Tata Consultancy Services traded 1.94 per cent lower after it announced it’s quarterly results on Thursday.

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Zoom saw its popularity soaring in the last three months

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“We were humbled by the accelerated adoption of the Zoom platform around the globe in Q1. The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom. Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives,” said Eric S. Yuan, Founder and CEO of Zoom.

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While Zoom saw its popularity soaring in the last three months, governments and law enforcement agencies also sought clarification from the video meet app over data hoarding and cyber hoarding, along with issues of unauthorised access termed as “zoom-bombing”.

After the Supreme Court in India sought the response of the Central government over a petition seeking a ban on Zoom, the video calling app claimed that it “takes user privacy, security, and trust extremely seriously.”

“Zoom takes user privacy, security and trust extremely seriously. We have been focused on enhancing our commitment to security and privacy under our 90-day plan announced on April 1, and have made significant progress,” the company said in a statement.

“Our primary grants in Q1 were toward organisations making a difference during COVID-19,” said Yuan.

Zoom growth has led to several tech giants ramping up their video conferencing services like Microsoft Teams, Google Meet and Facebook Messenger Rooms, among others.

Zoom recently announced that it will expand its engineering team with up to 500 new headcount based in Phoenix, Arizona and Pittsburgh, Pennsylvania, in the US.

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