Live Market Updates Today: 19 July

The GIFT Nifty indicates a flat start for the broader index with a gain of 4.5 points on Wednesday, as the futures stand at 19,808.

In the US markets, stocks advanced on Tuesday, driven by robust bank earnings, leading the Dow on track for its longest streak of daily gains in over two years. Morgan Stanley shares surged 6.45%, their largest one-day percentage climb since November 2020, while Bank of America gained 4.42% after surpassing profit expectations. Other banks also saw positive results, with Bank of New York Mellon up 4.11% and PNC Financial up 2.51% following their quarterly reports. The S&P 500 banks index ended 1.90% higher at 317.02, reaching its highest closing level since March 8.

In Asian markets, all Asia-Pacific markets rose on Wednesday, as investors digested better-than-expected results from Wall Street. The earnings season started strong, with 84% of S&P 500 companies reporting profits exceeding estimates. Japan's Nikkei 225 gained 1%, and the Topix was up 0.94%. However, business sentiment among manufacturers in Japan declined for the first time in six months in July, according to the Reuters Tankan survey. South Korea's Kospi rose marginally, and the Kosdaq climbed 0.31% after reaching its highest level in over 15 months on Tuesday.

European stock markets ended cautiously higher on Tuesday, with the benchmark Stoxx 600 index closing up 0.6%. Most sectors experienced gains, with telecom stocks leading losses and chemicals and retail stocks showing increases.

In the US, retail sales in June fell short of expectations, with an increase of only 0.2%. However, consumers maintained spending in other areas, likely keeping the economy afloat in the second quarter.

The US dollar rose from a 15-month low against a basket of currencies on Tuesday, thanks to strong gains in core retail sales for June. Investors are eagerly awaiting the Federal Reserve's interest rate decision next week.

Global oil prices rose, with Brent futures climbing 0.1% to $79.72 a barrel and US West Texas Intermediate (WTI) crude holding steady at $75.75 per barrel. The rise was supported by China's commitment to supporting economic growth, tighter supply from Russia, and lower weekly US crude oil inventories.

Gold scaled a one-month high on Tuesday, reaching $1,974.99 per ounce, bolstered by a softer dollar and lower Treasury yields. Investors are closely watching the Federal Reserve's monetary policy outlook.

Foreign institutional investors (FIIs) bought shares worth Rs 2,115.84 crore, while domestic institutional investors (DIIs) sold shares worth Rs 1,317.56 crore on July 18, according to provisional data from the National Stock Exchange (NSE).