Sensex Today | Stock Market LIVE Updates: Adani Ports, Adani Enterprises, Jio Financial, Tata Motors and HCL Technologies were among major gainers on the Nifty, while losers were Infosys, IndusInd Bank, HUL , Eicher Motors and Bharti Airtel.
Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel by 0022 GMT while U.S. West Texas Intermediate crude was at $86.77 a barrel, down 74 cents, or 0.9%.
Traders may remain cautious ahead of critical data releases from China, while simultaneously hoping for more stimulus measures in light of consistently weak data releases and widespread losses among domestic property developers
While India and Russia did settle their trade in rupees following the setting up of the framework, the system did not take off as hoped as Moscow soon accumulated a surplus to the tune of billions of rupees on account of New Delhi’s oil purchases
NSE had rolled out rupee rupee-denominated NYMEX WTI crude oil and natural gas futures contract on May 15, 2023.
Coal India, NTPC, BPCL, Tata Motors and L&T were among the major Nifty gainers. Losers included UPL, Eicher Motors, Apollo Hospitals, ITC and UltraTech Cement
The rupee was at 82.9675 on Friday, stronger than its record closing low of 83.21 in the previous session. Brent crude futures fell to $89.82, hovering around a 10-month high of $91.15 hit this week.
Slowing demand from China coupled with rise in production and inventories means that base metals are losing favour. Adding to the woes is the fact that the Dollar index (DXY) has gained in strength and investors are keeping an eye out for the speeches from Federal Reserve. CME Fedwatch Tool suggest a 93% chance of Fed leaving rates unchanged in Sept. Manisha Gupta discusses these details with Ajay Kedia, Founder of Kedia Commodities on this episode of Commodities Corner
The market has been on an uptrend in the past five sessions, trying to gain back lost territory after a subdued performance through August.
Analysts feel that any ripples will be felt only if the rise in prices continues in coming weeks. Most of them expect no major corrections in the market in the near term, but recommend that investors pick up quality stocks in the event of a dip.
Call as well as put writers were active at the 19,800 strike price options, which suggests that level will remain pivotal today
ICICI Direct, Rupee slid towards its lowest level of 83.20 yesterday, amid strong dollar and outflow of funds from the domestic market.
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
Sensex Today | Stock Market LIVE Updates: Among sectors, except pharma all other indices are trading in the green with capital goods, oil & gas, power and realty up 1.5-2 percent each. Mazagon Dock, HDFC Bank, Cochin Shipyard, Reliance Industries and Power Finance are among the most active shares on the NSE.
Brent crude futures slid 33 cents, or 0.4%, to $89.59 a barrel by 0050 GMT, while U.S. West Texas Intermediate crude (WTI) futures declined 33 cents, or 0.4%, to $86.54.
The dollar stayed strong on positive US economic data, increasing the likelihood of more interest rate hikes
Among sectors, except FMCG and pharma, all indices traded in the green. Bank, capital goods, PSU Bank, power and realty were up 1-2 percent
Pulses prices trade firm on low sowing acreage. Sowing of Kharif pulses is lower by 8 per cent this year. This can potentially lead to a spurt in prices in the coming months as well. The combination of elevated levels of crude oil prices and rapidly weakening rupee is already seen disturbing the so far benign inflation situation. The Government Of India is also stepping in to ensure availability and affordability of pulses. How will this play out in the commodity market? Catch Manisha Gupta in conversation with Bimal Kothari, Chairman, IPGA only at Commodities Corner.
India’s efforts to internationalise the rupee has nothing to do with de-dollarization. The effort is to make the rupee a hard currency like the euro, the yen and the British pound, he said
The trend is aligned with the weakness seen across global markets as a stronger dollar, a spike in crude price over supply concerns and economic uncertainty refuel risk-off sentiment
Currently, the risk of a crash remains low, because the market is still much below its long term trend line. The risk of a crash becomes high when markets are way above their long term trend.
ICICI Direct, The pound hit the 1 .25 mark on Wednesday amid strong dollar and increasing risk -off sentiments.
According to Geojit, Maharashtra has reported total area under kharif crops, as on Monday, at 14.1 mln ha, amounting to 98.9% of the normal area of 14.2 mln ha.
Having traded in its narrowest range in two decades this year, the rupee fell to a 10-month low of 83.18 on Wednesday, close to the 83.29/$ record low hit in October 2022, due to expectations resilient U.S. yields will keep the dollar well-bid.
Much of India’s global image is dictated by indices and standards devised by the West and one way to tackle that may be for India to develop its own indices and benchmarks.