Market Live Updates Today: Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 40 points
image for illustrative purpose
The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 40 points.
The BSE Sensex climbed 284 points to 55,682, while the Nifty50 jumped 84.5 points to 16,605, and formed a bullish candle that resembles a bullish engulfing kind of pattern formation on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 16,517, followed by 16,429. If the index moves up, the key resistance levels to watch out for are 16,660 and 16,715.
US Markets
Wall Street's main indices rose on Thursday boosted by a late-afternoon rally and gains in heavyweight growth stocks, including Tesla. The tech-heavy Nasdaq added 1.4 percent to lead the gains while the S&P 500 closed at its highest level since June 9. The Dow Jones Industrial Average climbed 0.5 percent.
The Dow Jones Industrial Average rose 162.06 points, or 0.51 percent, to 32,036.9, the S&P 500 gained 39.05 points, or 0.99 percent, to 3,998.95 and the Nasdaq Composite added 161.96 points, or 1.36 percent, to 12,059.61.
Asian Markets
Shares in the Asia-Pacific fell Friday as investors digest Japan's inflation data. The Nikkei 225 declined 0.36% and the Topix index slipped 0.36 percent. South Korea's Kospi was fractionally lower. In Australia, the S&P/ASX 200 shed 0.12 percent. MSCI's broadest index of Asia-Pacific shares outside Japan sat just above the flatline.
Live Updates
- 22 July 2022 9:23 AM IST
MPC's August meeting rescheduled due to 'administrative exigencies', says RBI
The Reserve Bank of India (RBI) on July 21 said that the rate setting Monetary Policy Committee’s (MPC) meeting next month is rescheduled due to “administrative exigencies.” The MPC will now meet on August 3-5, from previously scheduled August 2-4, said the RBI.
- 22 July 2022 9:22 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net purchased shares worth Rs 1,799.32 crore, continuing buying for the fourth consecutive session, whereas domestic institutional investors (DIIs) net sold shares worth Rs 312.29 crore on July 21, as per provisional data available on the NSE.
- 22 July 2022 9:21 AM IST
Japan's July factory activity growth slows to 10-month low - flash PMI
Japan's manufacturing activity grew at the slowest pace in 10 months in July as output and new orders contracted, boding ill for an economy struggling to stage a convincing post-pandemic recovery. Activity in the services sector also expanded at a slower rate, suggesting more subdued demand at home as a weakening yen pushed up the cost of imports, raising concerns about the impact that may have on the economy.
The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index (PMI) slipped to a seasonally adjusted 52.2 in July from the previous month's 52.7 final, marking the slowest expansion since last September.
The nationwide core consumer price index (CPI), which excludes volatile fresh food costs but includes those of energy, rose 2.2% in June from a year earlier, government data showed. The data, which matched a median market forecast, meant inflation stayed above the BOJ's 2% target for a third consecutive month. It followed rises of 2.1% in May and April.
- 22 July 2022 9:21 AM IST
RIL Q1 net profit to double YoY as refining business shines
Reliance Industries Limited is expected to report strong earnings for the quarter ended June on July 22, aided by a sharp rise in gross refining margins and strength in its organised retail business. The oil-to-telecom major is likely to report a 105.7 percent on-year, and 56 percent on-quarter, increase in consolidated net profit to Rs 25,238.8 crore, according to sources.
Analysts expect RIL’s gross refining margins to have averaged $22 a barrel in the June quarter, double the level seen in the March quarter. Margins have expanded at a faster rate, thanks to reported processing of discounted Ural crude oil from Russia and exporting the same to Europe and the US.
Results on July 22, July 23, July 24
Reliance Industries, UltraTech Cement, JSW Steel, HDFC Asset Management Company, Bandhan Bank, Coforge, Crompton Greaves Consumer Electricals, Finolex Industries, Andhra Cements, Atul, Bharat Gears, Gokaldas Exports, Greenpanel Industries, HFCL, Huhtamaki India, Mahindra CIE Automotive, Meghmani Organics, Sigachi Industries, Supreme Petrochem, Tinplate Company of India, Ugro Capital, and Zenotech Laboratories will be in focus ahead of June 2022 quarter earnings on July 22.
ICICI Bank, Kotak Mahindra Bank, Yes Bank, Karnataka Bank, Coastal Corporation, D-Link (India), eMudhra, Kewal Kiran Clothing, Navin Fluorine International, Steel Exchange India, Surana Telecom and Power, and Uttam Galva Steels will be in focus ahead of quarterly earnings on July 23.
The country's second largest IT services provider Infosys will announce its June 2022 quarter earnings on July 24.
- 22 July 2022 9:19 AM IST
ECB raises rates by 50 basis points, first rate hike since 2011
The European Central Bank raised interest rates by more than expected on Thursday, confirming that concerns about runaway inflation now trump growth considerations, even as the euro zone economy reels from the impact of Russia's war in Ukraine.
The ECB raised its benchmark deposit rate by 50 basis points to zero percent, breaking its own guidance for a 25 basis point move as it joined global peers in jacking up borrowing costs. It was the euro zone central bank's first rate hike for 11 years.
Ending an eight-year experiment with negative interest rates, the ECB also increased its main refinancing rate to 0.50 percent and promised further rate hikes possibly as soon as its next meeting on September 8.
