Sectoral Performance At Open: Nifty Oil & Gas Leads Gains
On NSE, 12 sectoral indices advanced, one declined, and two remained flat out of 15 sectoral indices. The NSE Nifty Oil & Gas advanced the most, and the NSE Nifty Defence declined the most.
Nifty Contributors: RIL, HDFC Bank Support Gains
At open, Reliance Industries Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., Titan Co. Ltd., and Larsen & Toubro Ltd. added to the Nifty 50 index.
Kotak Mahindra Bank Ltd., Bharat Electronics Ltd., Axis Bank Ltd., and SBI Life Insurance Co. weighed on the Nifty 50 index.
Stock Market Today: Nifty, Sensex Extend Gains At Open
The NSE Nifty 50 and BSE Sensex extended gains at open on Wednesday as Bharti Airtel Ltd. and Reliance Industries Ltd. shares led. As of 9:20 a.m., the Nifty was trading 123.70 points or 0.49% higher at 25,168.05, and the Sensex was trading 399.60 points or 0.49% higher at 82,454.71.
Yield On The 10-Year Bond Opens Higher
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The 10-year bond yield opened 2 basis points higher at 6.27%
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It closed at 6.25% on Tuesday
Source: Bloomberg
Rupee Opens Weaker Against US Dollar
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Rupee opened 3 paise weaker against US dollar at 86.01
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It closed at 85.98 a dollar on Tuesday.
Source: Bloomberg
Stock Market Live Update: KEC International Gets Orders Worth Rs 1,236 Crore
KEC International has secured orders worth Rs 1,236 crore for civil projects in India. These projects include the development of over 50 lakh square feet of residential buildings along with associated facilities in Western India.
Stock Market Today: Nifty’s Key Support At 24,850, Resistance At 25,200
The stock markets witnessed notable volatility throughout the day on Monday after a gap-up opening.
The NSE Nifty 50 surged higher but faced stiff resistance near the 25,300 mark and closed at 25,044.35 with gains of 72.45 points. Technically, the formation of a bearish candle with multiple bearish divergences suggests caution ahead.
Gold Prices Trade Higher As Powell Vouch For Wait-And-Watch Approach For Rates
Gold prices were trading higher in Asia session Wednesday as US Federal Reserve Chair Jerome Powell said to the House Financial Committee that patient approach should be taken to see how the inflation moves in the US economy.
Traders were pricing in two more rate cuts from the US Federal Reserve this calendar year. However, there is now no clarity of a rate cut in the July meeting.
Gold future was trading 0.31% higher at $3,344.10 an ounce as of 8:02 a.m.
Oil Prices Rebound From Three-Day Slump On Israel-Iran Ceasefire
Oil prices rebound from a three-day slump in Asia session Wednesday as the US crude oil inventory drop. Traders also assessed the stability of Israel and Iran ceasefire. Oil prices advanced to five-month high after US attacked Iran’s three nuclear facilities.
Crude oil prices declined 14.85% in last three sessions. However, it was trading 1.28% higher at $68 a barrel as of 7:47 a.m.
Asia Market Update: CSI 300, Nikkei 225 & KOSPI Rise On Israel-Iran Ceasefire
Markets in Japan, China, Australia, and South Korea advanced Wednesday as the ceasefire between Israel and Iran are seeming effective. Traders assessed US Federal Reserve Chair Jerome Powell’s comment at the House Financial Committee.
The CSI 300 and Hang Seng were trading 0.28% and 0.97% higher, respectively as of 7:36 a.m. The Nikkei 225 and KOSPI were trading 0.24% and 0.42% higher, respectively.
US Market Update: US Futures Little Changed As Traders Assess Powell’s Comments
US futures were trading little changed as traders were assessing US Federal Reserve Chair Jerome Powell’s comments. Powell reiterated his view that patient approach should be taken to reduce interest rates as the US economy is doing still strong.
The S&P 500 and Dow Jones Industrial Average were trading 0.06% and 0.02% down, respectively as of 7:30 a.m. The Nasdaq 100 future was 0.06% down.
GIFT Nifty Implies Tepid Open; Hindalco, PTC Industries, Vodafone
The GIFT Nifty was trading 0.01% or 2 points higher at 25,155.50 as of 6:44 a.m., which implied that the benchmark Nifty 50 may open 112 points higher open from Tuesday’s close. Gains in Asian equities will likely support the Indian benchmark indices.
Investors may keep an eye on Aurobindo Pharma Ltd., Hindalco Industries Ltd., PTC Industries Ltd., Vodafone Idea Ltd. share prices in Wednesday’s session.
The benchmark equity indices ended with gains on Tuesday, led by share prices of Jio Financial Services Ltd. and Adani Ports and Special Economic Zone Ltd.
The NSE Nifty 50 ended 72.45 points, or 0.29% higher at 25,044.35, while the BSE Sensex closed 158.32 points, or 0.19% up at 82,055.11.
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