Market Live Updates Today: Trends on SGX Nifty indicate a gap-up opening for the index in India with a 100 points gain
image for illustrative purpose
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the index in India with a 100 points gain.
BSE Sensex gained 166.07 points to close at 52,484.67, while the Nifty50 rose 42.20 points to 15,722.20. Nifty formed Hammer pattern on the daily charts and a Bearish Belt Hold pattern on the weekly scale, with a 0.9 percent decline.
US Markets
Wall Street scaled new highs on Friday, with the S&P closing up for a seventh straight day, after jobs data for June showed robust hiring yet persistent weakness in the labor market that will keep the Federal Reserve from raising interest rates any time soon.
The Dow Jones Industrial Average rose 152.82 points, or 0.44%, to 34,786.35, the S&P 500 gained 32.4 points, or 0.75%, to 4,352.34 and the Nasdaq Composite added 116.95 points, or 0.81%, to 14,639.33.
Asian Markets
Shares in Asia-Pacific were mixed in Monday morning trade as oil prices hovered about $76 ahead of another meeting between OPEC and its allies. Investors are also looking ahead to data releases in Australia and China.
SGX Nifty
Trends on SGX Nifty indicate a gap-up opening for the index in India with a 100 points gain. The Nifty futures were trading at 15,848 on the Singaporean Exchange around 07:30 hours IST.
Live Updates
- 5 July 2021 9:10 AM IST
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 982.8 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 930.39 crore in the Indian equity market on July 2, as per provisional data available on the NSE.
- 5 July 2021 9:08 AM IST
India Pesticides shares to list today
Shares of agrochemical company India Pesticides will debut on bourses tomorrow, July 5. Experts expect the counter to list with a double-digit premium over its issue price given the strong response to its IPO as well as general bullishness around the sector. The issue price has been fixed at Rs 296.
- 5 July 2021 9:04 AM IST
US adds a solid 850,000 jobs as economy extends its gains
In an encouraging burst of hiring, America’s employers added 850,000 jobs in June, well above the average of the previous three months and a sign that companies may be having an easier time finding enough workers to fill open jobs. Friday’s report from the Labor Department was the latest sign that the reopening of the economy is propelling a powerful rebound from the pandemic recession.
The unemployment rate rose from 5.8 percent in May to 5.9 percent in June, the report showed. Despite the job market’s steady improvement, unemployment remains well above the 3.5 percent rate that prevailed before the pandemic struck, and the economy remains 6.8 million jobs short of its pre-pandemic level.
- 5 July 2021 9:02 AM IST
Forex reserves rise by $5 billion to lifetime high of $609 billion
The country's foreign exchange reserves surged by $5.066 billion to touch a record high of $608.999 billion in the week ended June 25, 2021, RBI data showed. In the previous week ended June 18, the reserves had declined by $4.418 billion to $603.933 billion.
During the week under review, the increase in the forex reserves was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India's (RBI) weekly data showed. FCA rose by $4.7 billion to $566.24 billion.
- 5 July 2021 9:01 AM IST
Investment advisers cannot manage funds, securities on clients' behalf: SEBI
Investment advisers cannot manage funds as well as securities on behalf of their clients and should not contemplate about asking power of attorney in this regard, markets regulator SEBI has said. Such advisers can only provide investment advise to clients, it added.
The clarifications have been given as part of an informal guidance sought by Waterfield Financial and Investment Advisors regarding investment advisers (IA) rules.
- 5 July 2021 9:00 AM IST
SEBI clears IPO application of Zomato
The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) application of food delivery company Zomato, paving the way for one of the most keenly awaited share sales in recent history.
Zomato, backed by China’s Ant Group, filed for the IPO in April and is said to be looking to raise up to $1.2 billion. SEBI is likely to give the official approval this Monday for the IPO according to reports,
According to the DRHP filed by Zomato, the company will offer equity shares aggregating up to Rs 8,250 crore (nearly $1.1 billion). Of this, Rs 7,500 crore will be fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.
- 5 July 2021 8:59 AM IST
Oil row flares as UAE rejects 'unjust' OPEC+ output deal
The United Arab Emirates on July 4 criticised the current oil output deal among OPEC+ alliance members as unjust, escalating a row that could derail the energy market's post-pandemic recovery. The UAE's push to increase its production baseline is reported to have derailed last week's meeting of the alliance of oil-producing countries, and also sets it against its ally Saudi Arabia.
"The UAE demands to have justice in the new agreement after April, and it is our sovereign right to demand reciprocity with the rest of the countries," Energy Minister Suhail Mohamed Al-Mazrouei said in a television interview.
