Market Live Updates Today: Trends in SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 195 points on Friday
The market is expected to open in the green as trends in the SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 195 points.
image for illustrative purpose
The market is expected to open in the green as trends in the SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 195 points.
The BSE Sensex jumped 1,041.5 points or 1.87 percent to 56,858, while the Nifty50 rose 288 points or 1.73 percent to 16,930 and formed bullish candle on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 16,801, followed by 16,673. If the index moves up, the key resistance levels to watch out for are 17,003 and 17,076.
US Markets
US stocks on Thursday rallied for a second day, with all three major indices ending up more than 1 percent as data showing a second consecutive quarterly contraction in the economy fueled investor speculation the Federal Reserve may not need to be as aggressive with interest rate hikes as some had feared.
The Dow Jones Industrial Average rose 332.04 points, or 1.03 percent, to 32,529.63 the S&P 500 gained 48.82 points, or 1.21 percent, to 4,072.43 and the Nasdaq Composite added 130.17 points, or 1.08 percent, to 12,162.59. The Nasdaq registered its biggest two-day percentage gain since May 27.
Asian Markets
Shares in Asia-Pacific traded mixed Friday after a rally on Wall Street. That followed a negative US gross domestic product report, which suggests the Fed would be less aggressive in its tightening cycle.
In Japan, the Nikkei 225 gained 0.32 percent, while the Topix index was about flat. South Korea's Kospi rose 0.85 percent. The S&P/ASX 200 in Australia was up 0.78 percent. MSCI's broadest index of Asia-Pacific shares outside of Japan gained 0.28 percent.
Live Updates
- 29 July 2022 9:15 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net bought shares worth Rs 1,637.69 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 600.29 crore on July 28, as per provisional data available on the NSE.
- 29 July 2022 9:15 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net bought shares worth Rs 1,637.69 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 600.29 crore on July 28, as per provisional data available on the NSE.
- 29 July 2022 9:15 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net bought shares worth Rs 1,637.69 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 600.29 crore on July 28, as per provisional data available on the NSE.
- 29 July 2022 9:14 AM IST
Joe Biden says US economy 'on the right path' despite GDP dip
President Joe Biden insisted Thursday that the US economy was "on the right path," with solid job growth, despite a second straight quarter of contraction that has deepened fears of a recession.
"It's no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation," Biden said after the growth data was released, in a statement that emphasised that "our job market remains historically strong."
"Even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure," he said.
- 29 July 2022 9:13 AM IST
Failure to meet net worth criteria | RBI gives more time to payment aggregators to apply for licence
The Reserve Bank of India (RBI) on July 28 allowed an additional window for payment aggregators (PAs) whose applications for authorisation were rejected over failure to meet the minimum net worth criteria.
“Keeping in view the disruption caused by the COVID-19 pandemic, and to ensure smooth functioning of the payments ecosystem, it has since been decided to allow another window to all such PAs (existing as on March 17, 2020) to apply to RBI,” the central bank said.
PAs can apply by September 30 and shall have a net worth of Rs 15 crore as on March 31. They shall be permitted to continue their operations till they receive communication from the RBI regarding the fate of their application. The timeline of March 31, 2023, for achieving the net worth of Rs 25 crore shall, however, remain, the RBI said.
- 29 July 2022 9:11 AM IST
US economy shrank 0.9% last quarter, its 2nd straight drop
The US economy shrank from April through June for a second straight quarter, contracting at a 0.9 percent annual pace and raising fears that the nation may be approaching a recession.
The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of the economy — followed a 1.6 percent annual drop from January through March. Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession.
- 29 July 2022 9:09 AM IST
Oil prices rise on tight supply as attention turns to OPEC+ meeting
Oil prices gained about $1 in early trade on Friday, lifted by supply concerns and a weaker US dollar as attention turns to what OPEC and allies including Russia agree at a meeting next week marking the end of their 2020 output reduction pact.
US West Texas Intermediate (WTI) crude futures for September delivery rose $1.09, or 1.1 percent, to $97.51 a barrel by 0041 GMT, reversing losses from the previous session when sentiment was hit by fears of a recession in the US.
Brent crude futures for September settlement, due to expire on Friday, rose 86 cents, or 0.8 percent, to $108.00 a barrel. The more active October contract climbed 87 cents, or 0.9 percent, to $102.70.
