Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 90 points.
The market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 90 points.
image for illustrative purpose
The market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 90 points.
The BSE Sensex settled at 56,072, up 390 points, while the Nifty50 consistently traded above 200 day exponential moving average and rose 114 points to close at 16,719 on Friday, taking the total recovery to 10 percent from 52 week lows. The index has seen a bullish candlestick pattern on the daily, weekly as well as monthly charts.
As per pivot charts, the key support level for Nifty is at 16,636 followed by 16,553. If the index moves up, the key resistance levels to watch out for are 16,777 and 16,835.
US stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad-tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.
Still, all three major indexes posted weekly gains despite Friday's losses with the tech-heavy Nasdaq closing out the week 3.3% higher. The S&P 500 advanced 2.4% and the Dow gained 2%.
The Dow Jones Industrial Average fell 137.61 points, or 0.43%, to 31,899.29, the S&P 500 lost 37.32 points, or 0.93%, to 3,961.63, and the Nasdaq Composite dropped 225.50 points, or 1.87%, to 11,834.11.
Asian Markets
Shares in the Asia-Pacific region were mixed on Monday ahead of an important week in the US. The Nikkei 225 in Japan slipped 0.6% and the Topix index lost 0.42%. In South Korea, the Kospi rose fractionally while the Kosdaq shed 0.16%. Australia's S&P/ASX 200 hovered above the flatline. MSCI's broadest index of Asia-Pacific shares outside of Japan was slightly negative.
Live Updates
- 25 July 2022 9:15 AM IST
UK retail sales slip in June as consumers struggle with inflation
British retail sales edged down in June as drivers cut back on record-priced fuel, with consumers reducing shopping less than expected, data showed, though the trend remained weak as households struggle with surging inflation.
Retail sales volumes fell by a smaller-than-expected 0.1% from May, the Office for National Statistics said on Friday. Economists polled by Reuters had expected a 0.3% monthly fall.
- 25 July 2022 9:14 AM IST
Powell seen slowing US Fed’s hikes after 75 basis points this week
US Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis point hike this week, economists surveyed by Bloomberg said.
They expect the Federal Open Market Committee to lift rates by a half a percentage point in September, then shift to quarter-point hikes at the remaining two meetings of the year. That would lift the upper range of the central bank’s policy target to 3.5% by the end of 2022, the highest level since early 2008.
Swap traders betting on Fed policy are now leaning towards a 50 basis point hike in September as more likely than a 75 basis point move, following weak US economic data earlier on Friday. The broader path envisioned by economists is slightly more hawkish than the one implied by market pricing.
- 25 July 2022 9:13 AM IST
RIL Q1 results | Consolidated PAT rises 46.3% YoY to Rs 17,955 crore driven by refining, retail segments
Reliance Industries Ltd on July 22 reported a 46.3 percent year-on-year rise in consolidated net profit at Rs 17,955 crore for the quarter ended June, which was below analysts' expectations of 25,238.8 crore.
The oil-to-telecom giant reported 54.5 percent on-year growth in consolidated revenue from operations to Rs 2.23 lakh crore, which was also below Street's estimate of Rs 2.4 lakh crore.
"Despite significant challenges posed by the tight crude markets and higher energy and freight costs, O2C business has delivered its best performance ever. I am also happy with the progress of our consumer platforms," said chairman and managing director Mukesh Ambani in a press statement.
- 25 July 2022 9:13 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net sold shares worth Rs 675.45 crore whereas domestic institutional investors (DIIs) net bought shares worth Rs 739.38 crore on July 22, as per provisional data available on the NSE.
- 25 July 2022 9:12 AM IST
India's FX reserves hit 20 month low
India's foreign exchange reserves fell to the lowest in just over 20 months after they slumped by $7.54 billion in the week ended July 15 to $572.71 billion, data released by the Reserve Bank of India (RBI) on July 22 showed. The last time the foreign exchange reserves were lower was as on November 6, 2020.
The continued and sharp fall in the reserves is a reflection of the central bank's intervention in the foreign exchange market to stem the Indian currency's fall, which has hit multiple all-time lows against the US dollar over the last few weeks.
