Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the index in India with a 40 points loss
image for illustrative purpose
The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 40 points loss.
The BSE Sensex rallied 397.04 points to 52,769.73, while the Nifty50 jumped 119.80 points to 15,812.40 and formed Doji kind of pattern on the daily charts as the closing was near its opening levels.
US Markets
Bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in U.S. inflation in 13 years rattled investors who fear rising interest rates could end a stock market rally that has doubled prices from 2020 lows.
The Dow Jones Industrial Average fell 0.31% to 34,888.79, the S&P 500 lost 0.35% to 4,369.21 and the Nasdaq Composite dropped 0.38% to 14,677.65.
Asian Markets
Shares in Asia-Pacific mostly slipped in Wednesday morning trade following a hotter-than-expected U.S. inflation report for June overnight.
In Japan, the Nikkei 225 slipped 0.14% while the Topix index sat above the flatline. The Kospi in South Korea dipped 0.26%.
Live Updates
- 14 July 2021 10:26 AM IST
IEA says refining throughput set to rise in July, August
Global refining runs are expected to continue rising in July and August due to increasing vaccination rates and easing social distancing measures around the world, the International Energy Agency (IEA) said on Tuesday. The Paris-based agency, however, expected the trend will lose momentum in winter due to seasonal maintenance of refineries.
Refiners around the world significantly reduced their operations in 2020 as they faced an unprecedented fall in fuel demand brought about by the coronavirus pandemic and mobility restrictions. The lockdowns at their peak destroyed over 20% of global oil demand.
- 14 July 2021 10:25 AM IST
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 113.83 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 344.19 crore in the Indian equity market on July 13, as per provisional data available on the NSE.
- 14 July 2021 10:24 AM IST
US consumer prices post largest gain in 13 years; inflation has likely peaked
US consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum.
The yield on the benchmark 10-year Treasury note briefly shot up before retreating as investors concluded that the U.S. central bank would likely maintain its ultra easy monetary policy stance for a while. Powell will present the semiannual Monetary Policy Report to the U.S. Congress on Wednesday.
The consumer price index increased 0.9% last month, the largest gain since June 2008, after advancing 0.6% in May. Economists polled by Reuters had forecast the CPI would climb 0.5%. Used cars and trucks prices accelerated 10.5%. That was the biggest jump since January 1953 when the government started tracking the series. Used cars and trucks have been the major driver of inflation in recent months.
- 14 July 2021 10:23 AM IST
S&P affirms India's rating at lowest investment grade for 14th year in a row
S&P Global Ratings on Tuesday affirmed India's sovereign rating at the lowest investment grade of 'BBB-' for the 14th year in a row with a stable outlook, and said that the country's strong external settings will act as a buffer against financial strains despite elevated government funding needs over the next 24 months.
"India's democratic institutions promote policy stability and compromise, and also underpin the ratings. These strengths are balanced against vulnerabilities stemming from the country's low per capita income and weak fiscal settings, including consistently elevated general government deficits and indebtedness," it said in a statement.
- 14 July 2021 10:22 AM IST
Oil rises nearly 2% as investors size up tight market
Oil prices gained almost 2% on Tuesday after the International Energy Agency said the market should expect tighter supply for now due to disagreements among major producers over how much additional crude to ship worldwide.
Brent crude rose $1.33, or 1.8%, to settle at $76.49 a barrel, while U.S. West Texas Intermediate crude rose $1.15, or 1.6%, to settle at $75.25 a barrel.
