MARKET WRAP: Sensex up 420 pts as Infosys rallies 10%, Nifty ends at 10,740

All that happened in the markets today

8:27 AM

NEWS ALERT :: China's second-quarter GDP grows 3.2% YoY

>> China’s economy grew 3.2% in the second quarter from a year earlier, data showed on Thursday, recovering from a record contraction as lockdown measures ended and policymakers stepped up stimulus to combat the shock from the coronavirus crisis.

KEY POINTS
 

* Q2 GDP +3.2% YoY (f’cast +2.5%, Q1 -6.8%)

 

* Q2 GDP +11.5% QoQ (f’cast +9.6%, Q1 -9.8%)

 

* June industrial output +4.8% YoY (f’cast +4.7%, May +4.4%)

 

* June retail sales -1.8% YoY(f’cast +0.3%, May -2.8%)

(Via Reuters)

8:21 AM

Rupee check

Source: Bloomberg

8:19 AM

Oil prices slip after OPEC, allies agree to loosen oil supply curbs

>> Oil prices slid on Thursday after OPEC and allies such as Russia agreed to ease record supply curbs from August, though the drop was cushioned by hopes for a swift US demand pick-up after a bigger-than-expected drawdown from the country’s crude stocks.

>> The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed on Wednesday to scale back oil production cuts from August as the global economy slowly recovers from the coronavirus pandemic.

>> Brent crude LCOc1 fell 13 cents, or 0.3%, at $43.66 a barrel, and US West Texas Intermediate (WTI) crude CLc1 dropped 18 cents, or 0.4%, to $41.02 a barrel. They rose 2% the previous day, helped by the U.S. crude inventories drop.

(Source: Reuters)

8:13 AM

SGX Nifty hints at lower opening

>> At 8:12 am, the index was at 10,613 level, down 36 points or 0.34 per cent.

8:12 AM

Asian markets trade mixed

Source: Reuters

8:10 AM

Wall Street rallies on vaccine bets, Goldman results

Source: Reuters

7:56 AM

Good morning!

Welcome to the Business Standard live blog.

Catch all the live market updates here.