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Sensex rises 750 points
Pharma stocks in poor health, slide up to 5%
Price as on 28 Jul, 2022 10:24 AM, Click on company names for their live prices.
Buzzing Stocks: Bajaj twins rally up to 8%
Price as on 28 Jul, 2022 10:04 AM, Click on company names for their live prices.
Market LIVE Updates: Fire incident occurred yesterday night at the Neemrana plant of Havells; no human loss/injury reported
Price as on 28 Jul, 2022 09:41 AM, Click on company names for their live prices.
STOCK IN FOCUS: TATA STEEL
#StocksInNews | Tata Steel has announced to split its stock in the ratio of 1:10 and the EX Date for the corporate… https://t.co/NUEkNSFvRW
— ET NOW (@ETNOWlive) 1658980234000
SpiceJet falls over 9% after aviation regulator halves capacity
Shares of India’s SpiceJet fell as much as 9.3% on Thursday, a day after the country’s aviation regulator ordered the budget carrier to slash its approved fleet to 50% this summer for eight weeks, citing multiple safety snags. The Director General of Civil Aviation also said on Wednesday the domestic airline will be subjected to “enhanced surveillance”.
What moved market at opening tick?
Data – unemployment at 50-year lows and job vacancies at historical highs – seem to support the Fed chief’s confidence about the US economy.
The July rally in the domestic market which has taken the Nifty up around 1500 points from the June lows seems to be intact for the very short-term.
IT stocks after the recent correction may rebound taking cues from the Nasdaq rally and the continuing strength of the US economy. Financials will continue to be resilient.
— Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Tata Steel, YES Bank, SAIL among most active stocks on NSE
Price as on 28 Jul, 2022 09:30 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 500 pts, Nifty above 16,750; MTNL surges 11%, SpiceJet plunges 8%
FED through its commentary has made markets believe that this interest rate upcycle may not last long contrary to what was estimated before. This may have positive implications on equities globally.
– Siddarth Bhamre, Head of Research, Religare Broking
Stocks in F&O ban
Two stocks – Delta Corp and Indiabulls Housing Finance – are under the F&O ban for Thursday, July 28. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.
US Fed raises rate by 75 bps
Federal Reserve officials raised interest rates by 75 basis points for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation — but risking a sharp blow to the economy. Policymakers, facing the hottest price pressures in 40 years, lifted the target range for the federal funds rate on Wednesday to 2.25 per cent to 2.5 per cent. That takes the cumulative June-July increase to 150 basis points – the steepest rise since the price-fighting era of Paul Volcker in the early 1980s.
Asian shares trade higher
Asian shares made cautious gains on Thursday as investors scented a possible slowdown in the pace of U.S. rate hikes, lowering bond yields and restraining the dollar.As expected, the U.S. Federal Reserve raised rates 75 basis points to 2.25-2.5% but did note some softening in recent data.
Quarterly earnings today
Bajaj Finserv, Nestle India, SBI Life Insurance Company, Vedanta, SBI Cards, Shree Cement, Dr. Reddy’s Laboratories, Punjab National Bank, Mahindra & Mahindra Financial Services and Jubilant FoodWorks are among companies that will announce their quarterly earnings today.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 99 points, or 0.59 per cent, higher at 16,782.50, signaling that Dalal Street was headed for a positive start on Thursday.
Tech View: Nifty50 forms bullish candle, can test recent high
The bullish candle engulfed the previous negative candle completely, signalling a formation of a bullish Piercing Line type candle pattern, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
Oil prices edge up on low inventories, high gasoline demand in US
Oil prices edged up on Thursday, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States. Brent crude futures for September rose 40 cents, or 0.4%, to $107.02 a barrel by 0010 GMT, after gaining $2.22 on Wednesday.
Tokyo stocks open higher extending US gains
Tokyo stocks opened higher on Thursday, extending rallies on Wall Street after the US Federal Reserve announced a large interest rate hike. The benchmark Nikkei 225 index was up 0.75 percent, or 209.14 points, at 27,924.89 in early trade, while the broader Topix index advanced 0.42 percent, or 8.24 points, to 1,953.99.
US stocks rally, dollar falls on bets for rate hike slowdown
US equities rose sharply and the dollar lost ground as investors bet the Federal Reserve would slow interest rate hikes following its announcement on Wednesday of an increase in rates in line with expectations.
Rupee slips to 79.91 against US dollar
The rupee declined 13 paise to close at 79.91 against the US dollar on Wednesday, following risk-off sentiment among investors ahead of the outcome of the US Federal Reserve meeting.
Sensex, Nifty on Wednesday
The 30-share pack Sensex advanced 548 points or nearly 1 per cent to close at 55,816. Its broader peer, Nifty50, added 158 points to close above the 16,600 mark.