Sensex jumps 302 pts, ends atop 67,000; Nifty nears 19,850; PSU banks shine
Closing Bell on July 19: The S&P BSE Sensex touched a lifetime peak of 67,171, while the Nifty50 hit 19,852 intra-day
 "Sensex jumps 302 pts, ends atop 67,000; Nifty nears 19.850; PSU banks shine")
8:26 AM
Gift Nifty indicates flat start, tests 19,800
>> Gift Nifty quoting at 19,798
>> This is about 25 points higher than Nifty Future's last close
>> This is about 25 points higher than Nifty Future's last close
8:23 AM
Commodity check :: Gold prices steady ahead of next week's Fed meeting
8:20 AM
Commodity check :: Oil prices hold below $80/bbl
8:17 AM
Key events to track in the US today
8:13 AM
Key events to track in the Euro Area today
8:09 AM
Key events to track in the UK today
8:06 AM
Morgan Stanley moves 200 technologists out of China on data law
>> Morgan Stanley is shifting more than 200 technology developers out of mainland China after the country tightened access to troves of data stored onshore, according to people familiar with the matter.
>> The employees, accounting for more than a third of Morgan Stanley’s technologists on the mainland, are primarily moving to Hong Kong and Singapore.
Source: Bloomberg
Source: Bloomberg
8:03 AM
Microsoft shares closes at record high; here's why
>> Microsoft shares closed at a record Tuesday after the company announced pricing for its new Microsoft 365 artificial intelligence subscription service.
>> The stock jumped 4%, closing at $359.49. It’s now up about 50% for the year. The prior record came on June 15, when the stock closed at $348.10.
>> Microsoft’s Copilot subscription service adds AI to the company’s popular Office products such as Word, Excel and Teams.
>> It will cost an additional $30 per month and could increase monthly prices for enterprise customers as much as 83%, bringing in additional revenue through recurring subscriptions.
>> It will cost an additional $30 per month and could increase monthly prices for enterprise customers as much as 83%, bringing in additional revenue through recurring subscriptions.
7:59 AM
US Fed :: Last rate hike coming at July meeting, say economists
>> - The US Federal Reserve will raise its benchmark overnight interest rate by 25 basis points to the 5.25%-5.50% range on July 26, according to all 106 economists polled by Reuters, with a majority still saying that will be the last increase of the current tightening cycle.
>> A resilient economy and historically low unemployment well over a year since the Fed began one of its most aggressive rate hiking campaigns in history has repeatedly confounded analysts and investors.
>> Inflation is falling, with the headline consumer price index (CPI) measure slowing to 3.0% in June from 4.0% in May. But underlying inflation has remained sticky and Fed Chair Jerome Powell and other central bank officials have said more tightening is coming, even though they decided to pause the rate hikes at last month's policy meeting.
>> The view that rates will stay higher for longer appears to be gaining traction, with the share of respondents polled during the July 13-18 period who predicted at least one rate cut by the end of March next year down sharply to 55% from 78% last month.
Source: Reuters
>> A resilient economy and historically low unemployment well over a year since the Fed began one of its most aggressive rate hiking campaigns in history has repeatedly confounded analysts and investors.
>> Inflation is falling, with the headline consumer price index (CPI) measure slowing to 3.0% in June from 4.0% in May. But underlying inflation has remained sticky and Fed Chair Jerome Powell and other central bank officials have said more tightening is coming, even though they decided to pause the rate hikes at last month's policy meeting.
>> The view that rates will stay higher for longer appears to be gaining traction, with the share of respondents polled during the July 13-18 period who predicted at least one rate cut by the end of March next year down sharply to 55% from 78% last month.
Source: Reuters
7:55 AM
ALERT :: US retail sales rise moderately
>> US retail sales rose less than expected in June as receipts at service stations and building material stores declined.
>> Overall, the mixed report from the Commerce Department on Tuesday painted a picture of consumer resilience, though slowing momentum in spending growth.
>> Retail sales increased 0.2% last month. Data for May was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported.
>> Economists polled by Reuters had forecast retail sales gaining 0.5%. Retail sales are mostly goods and are not adjusted for inflation. They rose 1.5% year-on-year in June.
Source: Reuters
>> Overall, the mixed report from the Commerce Department on Tuesday painted a picture of consumer resilience, though slowing momentum in spending growth.
>> Retail sales increased 0.2% last month. Data for May was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported.
>> Economists polled by Reuters had forecast retail sales gaining 0.5%. Retail sales are mostly goods and are not adjusted for inflation. They rose 1.5% year-on-year in June.
Source: Reuters
7:51 AM
US bank shares jump on interest income and deals optimism
>> Big US banks, on Tuesday, said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth, and increased deposit costs may cloud the outlook for the sector.
>> Signs of a revival in investment banking, which has been in the doldrums as higher rates and economic uncertainty put a damper on deals and trading, also drove share gains.
>> Shares in BofA and BNY closed up more than 4% on Tuesday, while the 6.5% jump in Morgan Stanley's shares was the biggest daily percentage gain since Nov. 9, 2020.
>> Shares in BofA and BNY closed up more than 4% on Tuesday, while the 6.5% jump in Morgan Stanley's shares was the biggest daily percentage gain since Nov. 9, 2020.
>> The S&P 500 Banks Index (.SPXBK) closed up 1.9% and the KBW Regional Banking Index (.KRX) jumped 4% to finish at its highest level since March 22.
Source: Reuters
Source: Reuters
7:48 AM
US markets extend rally; Dow Jones posts its longest winning streak since March 2021
7:45 AM
Asia markets rise as investors digest Wall Street’s strong earnings
>> Barring Hang Seng index, all other indices are ruling higher
7:41 AM
Good morning, readers!
Welcome to Business Standard's LIVE market blog
Track all the markets related updates here
Track all the markets related updates here
Topics : MARKET LIVE MARKET WRAP Asia Markets Markets Q1 results Gift Nifty S&P BSE Sensex Nifty50 Global Markets Indian stock markets stock market trading Market news MARKETS TODAY Wall Street Reliance Industries Reliance Jio IPO
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jul 19 2023 | 7:51 AM IST
