Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat
Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent
8:35 AM
Sell Nifty50 if it breaches below 19,300
As per chart analysis, a robust support zone is seen between 18,900 and 18,825 levels. It is worth noting that a significant downward correction is only likely to be activated if the index breaches and subsequently closes below the 19,300-mark. READ MORE
8:32 AM
Foreign portfolio investors: The back-seat driver in market dashboard
After pumping in close to $20 billion in the preceding five months, foreign portfolio investors (FPIs) have yanked out $220 million from domestic stocks this month. The selling by overseas funds has led to turbulence in the domestic markets, with benchmark indices swinging wildly last week. READ MORE
8:27 AM
Gift Nifty suggests flat start at the bourses
8:23 AM
Fund Flow :: DIIs buy equities worth Rs 366.61 crore on Friday
8:20 AM
Fund Flow :: FIIs sold equities worth Rs 556.32 crore on Friday
8:16 AM
China or India? How to Invest in the Coming Asia Boom
>> Money managers are navigating an historic shift: India’s population, at 1.43 billion, edged past China’s this year.
Now the world’s most populous country, India could experience a decades-long investment boom. Goldman Sachs Group Inc. analysts expect its share of global equity market capitalization to quadruple between now and 2075.
>> Internet bets like Tencent and Trip.com, as well as cigarette maker ITC, find a place pros’ portfolios.
Source: Bloomberg
>> Internet bets like Tencent and Trip.com, as well as cigarette maker ITC, find a place pros’ portfolios.
Source: Bloomberg
8:13 AM
Short seller Hindenburg nabs tiny gains off $173 billion carnage
>> Gautam Adani, Jack Dorsey, Carl Icahn. Nate Anderson has picked them off one by one.
Source: Bloomberg
>> In mere months this year, he erased as much as $99 billion of their combined wealth while knocking $173 billion off the value of their publicly traded companies.
>> In an era when prominent short sellers have retreated from the limelight — fretting lawsuits, short squeezes and government probes — the deft researcher has emerged as the gutsiest bear around.
>> The surprise is that Anderson, 39, who runs tiny Hindenburg Research with a team of roughly a dozen researchers, probably reaped relatively small profits from those fights.
>> In an era when prominent short sellers have retreated from the limelight — fretting lawsuits, short squeezes and government probes — the deft researcher has emerged as the gutsiest bear around.
>> The surprise is that Anderson, 39, who runs tiny Hindenburg Research with a team of roughly a dozen researchers, probably reaped relatively small profits from those fights.
Source: Bloomberg
8:10 AM
SharkNinja’s NYSE debut underscores challenges for US biz that rely on China
>> Home appliance and vacuum cleaner company SharkNinja debuted on the New York Stock Exchange recently, after it was spun off from Hong Kong’s JS Global Lifestyle.
>> After its listing at just over $30 a share, the stock rocketed 40% in its first day. But in the four that followed, SharkNinja shares tumbled below their listing price to $26.90.
>> The stock’s lackluster performance in its first week points to other problems for investors to consider.
>> Most notably, SharkNinja and other companies that are closely tied to China have to deal with mounting geopolitical tensions between the world’s two largest economies and the exorbitant costs of navigating a strained trade relationship.
Source: CNBC
>> After its listing at just over $30 a share, the stock rocketed 40% in its first day. But in the four that followed, SharkNinja shares tumbled below their listing price to $26.90.
>> The stock’s lackluster performance in its first week points to other problems for investors to consider.
>> Most notably, SharkNinja and other companies that are closely tied to China have to deal with mounting geopolitical tensions between the world’s two largest economies and the exorbitant costs of navigating a strained trade relationship.
Source: CNBC
8:07 AM
Over $1 trillion needed for developing nations’ climate transition, says ex-World Bank official
>> Developing nations will need more than $1 trillion each year to make significant progress in climate transition, according Mari Pangestu, a former World Bank official.
>> The lack of funding has made it difficult for those countries to reduce their high carbon emissions and shift to clean energy, Pangestu added.
>> This has led to tensions between developing nations and the developed world, which are pushing for more progress in climate related issues.
Source: CNBC
>> The lack of funding has made it difficult for those countries to reduce their high carbon emissions and shift to clean energy, Pangestu added.
>> This has led to tensions between developing nations and the developed world, which are pushing for more progress in climate related issues.
Source: CNBC
8:04 AM
Brent crude prices top $86/bbl-mark amid tight supplies
>> It was a wild week for oil prices. First soaring on news of the biggest US inventory draw in years, benchmarks later slumped just as sharply when Fitch downgraded the United States' credit rating from AAA to AA+.
>> Barely a day later, prices rebounded again after Saudi Arabia did what pretty much everyone expected, extending its voluntary production cuts of 1 million barrels daily into September.
>> Where prices go from here is anyone’s guess, but analysts are saying the rally won’t last.
Source: Oilprice.com
>> Where prices go from here is anyone’s guess, but analysts are saying the rally won’t last.
Source: Oilprice.com
8:01 AM
JPMorgan no longer expects 2023 recession
>> JPMorgan's chief economist said on Friday the bank is no longer forecasting a US recession this year
>> The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%
>> Earlier last week, strategists at Bank of America said they no longer forecast a 2024 recession for the US and increased their 2023 economic growth outlook for the country.
>> The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%
>> Earlier last week, strategists at Bank of America said they no longer forecast a 2024 recession for the US and increased their 2023 economic growth outlook for the country.
7:57 AM
Apple no more a 3-trillion dollar company
>> Apple Inc shares fell nearly 5% last Friday, pushing the tech giant's market value below the $3 trillion threshold.
>> Apple’s Friday decline was its worst so far in 2023 even after delivering better-than-expected quarterly results.
>> Apple shares dropped after the company predicted what could be the fourth quarter in a row of declining sales.
>> For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple's most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve in the fourth quarter, but did not say how much
>> Apple’s Friday decline was its worst so far in 2023 even after delivering better-than-expected quarterly results.
>> Apple shares dropped after the company predicted what could be the fourth quarter in a row of declining sales.
>> For the just-ended period, strength in services drove the profit beat, but weaker than expected sales of Apple's most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve in the fourth quarter, but did not say how much
7:54 AM
Asian markets slide as investors track softness in the US
7:51 AM
US job growth slowing, but wage gains remain strong
>> The US economy added fewer jobs than expected in July, but solid wage gains and a decline in the unemployment rate back to 3.5% pointed to continued tightness in labor market conditions.
>> The Labor Department's employment report on Friday also showed job gains in May and June were revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes.
>> The mixed report did not change growing perceptions among economists that the Fed could engineer a "soft landing" for the economy, though much would depend on the direction of inflation after annual increases in prices slowed sharply in June.
Source: Reuters
>> The Labor Department's employment report on Friday also showed job gains in May and June were revised lower, potentially suggesting demand for labor was slowing in the wake of the Federal Reserve's hefty interest rate hikes.
>> The mixed report did not change growing perceptions among economists that the Fed could engineer a "soft landing" for the economy, though much would depend on the direction of inflation after annual increases in prices slowed sharply in June.
Source: Reuters
7:48 AM
US markets on Friday :: S&P 500, Nasdaq Composite notch their worst weeks since March
Wall Street closed lower on Friday after a report of slowing US labor market growth, and all three major indexes posted weekly losses as investors braced for more possible downside surprises a day after disappointing earnings from Apple.
Topics : Sensex Stock Market MARKET LIVE MARKET WRAP Q1 results Markets Sensex Nifty India Inc earnings corporate earnings Crude Oil Price Oil price rise sbi Bank of Baroda Global Markets Gift Nifty Trading strategies Market news Market Outlook Nifty 50
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First Published: Aug 07 2023 | 7:46 AM IST