Stock Market Live Updates: SGX Nifty signals a positive start; Asian stocks trade mixed

view original post

LIVE BLOG

Economic Times | 01 Aug, 2022 | 10:18AM IST

LIVE updates: Indian shares kicked off August trading on a positive note on Monday, after clocking their best month since November 2020 in the previous session, with Yes Bank jumping more than 5% following its decision last week to a fundraise $1.1 billion. The NSE Nifty 50 index was up 0.3% at 17,210.35, as of 0352 GMT, and the S&P BSE Sensex rose 0.27% to 57,723.67. The benchmark indexes posted their first monthly gain in four, advancing more than 8% each in July. Shares of Yes Bank Ltd rose after the lender said late on Friday that it would sell up to 10% stake to U.S. private-equity firms Carlyle Group Inc and Advent International. The Nifty auto sub-index, which marked its fourth monthly gain in July, rose 2% ahead of sales data from domestic automakers due later in the day.

!1 New UpdateClick here for latest updates

Rupee firms to over 3-wk high; yields little changed

The Indian rupee firmed to a more than three-week high on Monday as the greenback languished on bets the U.S. Federal Reserve would scale back its pace of rate hikes as the world’s biggest economy stares at a possible recession. The partially convertible rupee was trading around 79.15 per dollar in early morning trade, its strongest since July 7, compared to a close of 79.25 on Friday.

Prashant Kumar of @YesBank on Rs 8900 cr fundraise

The 9% rally in Nifty in July is in sync with the 9% rally in S&P 500. The pull back in US and other developed markets was facilitated by the strong employment numbers and resilience of the US economy, triggering hopes that the US might succeed in avoiding a recession, or if the recession happens, that would be a mild one. The big positive for the Indian market is the FPIs turning buyers in July after 9 months of relentless selling. The sharp decline in the dollar index from above 109 to below 106 now indicates that the flight to the safety of the dollar is over for now. At 17150 Nifty valuations are again moving to the higher side. So at higher levels investors have to exercise caution. After the expected run up in financials, now, capital goods, autos particularly PV and CV segments and select pharmaceuticals look interesting. High quality financials will continue to be resilient.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Bajaj Auto total sales at 3.54 lk unit vs ET NOW poll of 3.69 lk units. The co’s total sales were at 3.47 lk units in June

Price as on 01 Aug, 2022 09:57 AM, Click on company names for their live prices.

Stock Market LIVE updates: TCS, Infosys, Mindtree down; Wipro, Zensar up in IT index

Price as on 01 Aug, 2022 09:52 AM, Click on company names for their live prices.

The rupee appreciated 13 paise to 79.1 against the US dollar in opening trade on Monday, buoyed by fresh foreign fund inflows into capital markets and a firm trend in the domestic equities

Rakesh Jhunjhunwala backed Metro Brands to scale new record highs on Monday after the company pulled off a stellar show and returned to black in the quarter ended June 30, 2022. The multi-brand footwear retail chain reported a consolidated net profit after tax of Rs 105.78 crore for the quarter ended June. The company had posted a net loss after tax of Rs 12.13 crore during the January-March quarter last year.

Price as on 01 Aug, 2022 09:44 AM, Click on company names for their live prices.

Buy or Sell: Stock ideas by experts for Aug 01, 2022

Realty major DLF reported a 39 per cent increase in its consolidated net profit to Rs 469.56 crore in the quarter ended in June on better sales. Its net profit stood at Rs 337.16 crore in the year-ago period. The realty major’s net debt reduced by 16 per cent during the April-June period to Rs 2,259 crore from the previous quarter.

Price as on 01 Aug, 2022 09:39 AM, Click on company names for their live prices.

Mahindra & Mahindra has claimed that it has received over 1-lakh bookings for its all-new Scorpio-N SUVwithin half an hour of its booking, which commenced on Saturday. M&M launched the vehicle on June 27; stock hits new high

Price as on 01 Aug, 2022 09:33 AM, Click on company names for their live prices.

Analysts stay bullish on Sun Pharma, raise targets

Stocks in focus: ITC, Star Health and more

YES Bank, Tata Steel, IDFC First among most active stocks on NSE

Price as on 01 Aug, 2022 09:24 AM, Click on company names for their live prices.

OPENING BELL: Sensex gains 250 points, Nifty above 17,200; Nazara rallies 11%, Paytm 5%

Asian shares off to sluggish start, China data soft

Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week’s rally on Wall Street could be sustained in the face of determined policy tightening by global central banks

Quarterly earnings today

ITC, Varun Beverages, UPL, Zomato, Max Financial Services, Escorts Kubota, Kansai Nerolac Paints, Castrol India and The Ramco Cements are among companies that will announce their quarterly earnings today.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 31 points, or 0.18 per cent, higher at 17,262.50, signaling that Dalal Street was headed for a positive start on Monday.

Tech View: Bullish engulfing candle on monthly chart reflects improved sentiment

Nifty50 on Friday climbed for the third straight day and topped the 17,100 level on a closing basis. During the day, the index took out its 200-day simple moving average with a gap-up start earlier in the day and reflected strength.

Oil prices slip ahead of OPEC+ meeting

Oil prices dropped early on Monday as investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures dropped 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7%, after hitting a session low of $97.55 when trading commenced in Asia.

Tokyo shares open slightly higher

Tokyo stocks edged up in early trade on Monday, extending rallies on Wall Street as traders eyed upcoming corporate earnings. The benchmark Nikkei 225 index gained 0.05 percent, or 14.52 points, to 27,816.16 at the open, while the broader Topix index added 0.14 percent, or 2.63 points, to 1,942.94.

US stocks rally again, close out best month since November 2020

US stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.

Rupee rises by 45 paise to close at 3-week high on forex inflows

The rupee on Friday notched up its biggest single-day gain in nine months to close at a three-week high of 79.24 against the US dollar on fresh capital inflows and a weak green back in global markets.

Sensex, Nifty on Friday

Led by the metal pack, the 30-share pack Sensex jumped 712 points or 1.25 per cent to close at 57,570.25. Its broader peer, Nifty50, also rose 229 points or 1.35 per cent to end at a 3-month high and close above the 17,100 mark.

Good morning, dear reader! Here’s something to kickstart your trading day