Stock Market LIVE: Subdued start expected; Asian shares open lower

Economic data from the U.S., Europe and China showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite. Wall Street ended a three-day winning streak and crude prices plunged on Monday. Escalating US-China tension over Taiwan will also play a role on Tuesday.

02 Aug 2022, 07:31:20 AM IST

5G Auction: Record ₹1.5 lakh crore bids; Jio top bidder

India’s biggest ever auction of telecom spectrum received a record 1.5 lakh crore of bids, with Mukesh Ambani’s Jio cornering nearly half of all the airwaves sold with a 88,078 crore bid.

Richest Indian Gautam Adani’s group, whose entry in the auction was billed by some as another flashpoint in the rivalry with Ambani, paid 212 crore for 400 MHz, or less than 1 per cent of all spectrum sold, in a band that is not used for offering public telephony services.

Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a successful bid of 43,084 crore, while Vodafone Idea Ltd bought spectrum for 18,799 crore.

02 Aug 2022, 07:30:23 AM IST

Tokyo shares open lower after US losses

Tokyo shares opened lower on Tuesday following modest losses on Wall Street, where petroleum-linked shares retreated.

The benchmark Nikkei 225 index fell 0.62%, or 174.40 points, to 27,818.95 at the open, while the broader Topix index dropped 0.64%, or 12.55 points, to 1,947.56.

“Tokyo shares will fall… after the three major US indexes dropped,” Mizuho Securities said. “The market is also likely to be weighed down by a stronger yen and profit-taking.”

02 Aug 2022, 07:29:26 AM IST

Wall Street markets waver, oil prices sink

Wall Street ended a three-day winning streak and crude prices plunged on Monday as economic data from the U.S., Europe and China showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite.

All three major U.S. indexes ended the choppy session modestly lower on the first day of August, on the heels of the S&P 500’s and the Nasdaq’s largest monthly percentage gains since 2020.


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