Sensex adds 529pts, ends near 66,600; Nifty at 19700; SBI up 3%, HDFC Bk 2%

CLOSING BELL on July 17: The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, while the Nifty50 hit a new record high of 19,732

8:27 AM

Commodity check :: Brent crude down 1%

8:24 AM

Stocks to watch: HDFC Bank, Bandhan Bank, LTIMindtree

Results today: HDFC Bank, LTIMindtree, Tata Elxsi, Crisil, Central Bank of India, Choice International, Hathway Cable, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24).

 

Tata Steel: The management said that the company plans to explore opportunities in the battery-minerals-related segment, including lithium through their Natural Resources division. This divison is one of the 14 companies listed as notified private exploration agencies by the Ministry of Mines. READ MORE

8:21 AM

Nifty bulls need to keep an eye on these two key levels

There are two important levels to watch out for. The first level is at 19,436, which should be considered a strict stoploss for near-term positions. The second level is at 19,150, which serves as a strict stoploss for all bullish swing players. READ MORE

8:16 AM

Data Watch :: FIIs bought equities worth Rs 2,636.43 crore on Friday

8:15 AM

Data Watch :: DIIs sold equities worth Rs 772.45 crore on Friday

8:13 AM

Gift Nifty signals a quiet open, up 17 points

8:07 AM

Yellen hopes to build on US-China thaw at India G-20 gathering

>> US Treasury Secretary Janet Yellen said she's eager to build on recent improvements in US-China relations as finance chiefs from around the world gather in India to address global economic challenges in the coming days.

>> Treasury head looking for more progress on debt relief front

>> Yellen to answer questions at press conference in Gandhinagar

Source: Bloomberg

8:05 AM

Dollar’s busted bull run has bears calling end of an era

>> The greenback's worst slump since November, last week, has a bevy of strategists and investors saying a turning point is finally at hand for the world's primary reserve currency.

>> Standard Bank expects ‘multi-year downtrend’ is coming

>> Goldman, Invesco are skeptical that weakness will deepen.

Source: Bloomberg

8:02 AM

ALERT :: Britain signs deal to join £12 trillion Indo-Pacific trade bloc

>> Britain’s Kemi Badenoch, the business and trade secretary, formally signed a treaty confirming accession to the vast Indo-Pacific CPTPP bloc, the country’s largest post-Brexit trade deal to date.

 

>> Signed Sunday in New Zealand, the deal will now receive parliamentary scrutiny in the U.K., while other CPTPP nations will also complete their own legislative processes. More than 99% of the current UK. goods that are exported to CPTPP countries will soon be eligible for zero tariffs, the UK government said.

Source: CNBC

7:59 AM

Global markets :: Mixed close for US on Friday

Source: Reuters

7:56 AM

ALERT :: China's unemployment rate for youth at new record

>> The unemployment rate among young people, aged 16 to 24, was 21.3% in June, a new record.

7:54 AM

ALERT :: China's Industrial production for June rose by 4.4% YoY, better than the 2.7% forecast

Source: CNBC

7:53 AM

ALERT :: China retail sales for June rose by 3.1%

>> Retail sales were a touch below the 3.2% expected.

>> Sales of catering, sports and entertainment products along with alcohol and tobacco rose the most.

>> Autos, office products and daily use goods saw sales decline in June from a year ago.

>> Online sales of physical goods grew by 6.7% in June from a year ago, slower than in May, 

7:51 AM

ALERT :: China Q2 GDP misses estimates

>> China's second-quarter gross domestic product grew by 6.3% from a year ago.

>> The 6.3% GDP print for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year.

>> Analysts polled by Reuters had predicted a 7.3% increase in the second quarter GDP.

Source: CNBC

7:49 AM

Asian markets subdued amid weak handover from Wall Street

>> Nikkei index is closed due to public holiday