Sensex, Nifty may witness a volatile start on Wednesday. Asian stocks were mixed Wednesday as investors awaited a key report on U.S. inflation. Treasuries and the dollar were steady. US stocks closed higher as market sentiment was boosted by the U.S. Senate passing a $1 trillion bipartisan infrastructure bill
Day trading guide for Wednesday: 3 stocks to buy or sell today — 11th August
Soon, you will be able to buy stocks of select US companies through the National Stock Exchange’s (NSE’s) International Financial Services Centre (IFSC) platform in Gujarat’s GIFT City. On Monday, NSE said this will make US stocks affordable for Indian retail investors. (Read here)
Bitcoin roars back, putting $100,000 predictions in vogue again
Day trading guide for Wednesday: The range-bound action with volatility continued in the markets for the fourth consecutive sessions on Tuesday. The NSE Nifty closed 21 points higher at 16,280 while BSE Sensex surged 151 points and closed at 54,554 levels on Tuesday. On a day of normal volumes, telecom and IT went upside the most while realty, power and metals fell the most. Advance decline ratio was the lowest since 23rd December 2020. S&P BSE mid-cap index slipped nearly 1 per cent and the S&P BSE small-cap shed over 2 per cent. In the global markets, Wall Street continues to remain choppy as Dow Jones ended 0.46 per cent higher while Nasdaq shed 0.49 per cent on Tuesday. (Read here)
A Swiggy IPO likely to deliver good returns: SoftBank’s Masayoshi Son
SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver “good returns” if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy’s rivals has recently gone public and its share price is doing great. (Read here)
Coal India Q1 results: Net profit rises 52% to ₹3,170 crore
Coal India on Tuesday reported a Q1 consolidated net profit at ₹3,170 crore, up 52% as compared to ₹2,078 crore in the same quarter last year. The company’s total revenue from operations rose nearly 37% to ₹25,282 crore as against ₹18,487 crore year-on-year (YoY). (Read here)
Aster DM Healthcare, Bajaj Electricals, Bata India, CESC Ltd, Cadila Healthcare, Cummins India, Equitas Holdings, GE Power India, GIC Housing, Greaves Cotton Ltd, IDFC Ltd, India Cements, Lemon Tree Hotels, Navneet Education, NESCO Ltd, New India Assurance, Pidilite Industries, PNC Infratech, PTC India, VIP Industries, among other companies will post their Q1 results today.
Stocks to Watch
RIL, Vedanta, Zomato, JSPL, IndusInd Bank, among othjer stocks may be in the news today. (Read here)
Markets are likely to consolidate on Wednesday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Tuesday, the BSE Sensex closed at record high with the 30-share index gaining 151.81 points or 0.28% at 54,554.66. The Nifty was up 21.85 points or 0.13% at 16,280.10. (Read here)
India asks its nationals in Afghanistan to make travel arrangements to return back
India on Tuesday urged its nationals in Afghanistan to make immediate arrangements to return before air services are discontinued to their place of stay or travel given the deteriorating security situation in the country.
The advisory issued by the Indian embassy in Kabul came on a day when New Delhi evacuated its diplomatic staff from the consulate in northern Mazar-e-Sharif city, capital of Balkh province, bordering Uzbekistan and Tajikistan. This followed reports of fierce fighting between the rebel Taliban and Afghan security forces and militias owing allegiance to Afghan warlords as the country looked set to spiral into civil war. (Read here)
Asian markets steady
Asian stocks were mixed Wednesday as investors awaited a key report on U.S. inflation. Treasuries and the dollar were steady. Shares rose in Japan and Australia and fluctuated elsewhere. U.S. futures were little changed. Earlier, the S&P 500 climbed to an all-time high, while the tech-heavy Nasdaq 100 declined. Chip stocks slipped, while energy shares rallied. Crude oil bounced back from a three-week low on bets that the global demand recovery will remain intact despite the fast-spreading delta virus variant. Data out Wednesday are expected to show prices paid by U.S. consumers grew in July at the slowest pace in five months, though remain elevated.S&P 500 futures were little changed as of 10:48 a.m. in Tokyo.
The S&P 500 rose 0.1%
Nasdaq 100 contracts were little changed. The Nasdaq 100 fell 0.5%
Topix index rose 0.8%
Australia’s S&P/ASX 200 Index rose 0.5%
Kospi index fell 0.2%
Hang Seng Index was little change
Shanghai Composite Index rose 0.2%
SGX Nifty was up 0.26%
US stocks close higher after Senate passes $1 tn infra Bill
Global stock markets strengthened on Tuesday, hovering close to record highs, while U.S. Treasury yields rose to their highest levels since mid-July, spurred by Federal Reserve tapering talk. Sentiment was boosted by the U.S. Senate passing a $1 trillion bipartisan infrastructure bill that could provide the US with its biggest investment in decades in roads, bridges, airports and waterways. That helped the Dow Jones Industrial Average and S&P 500 close at record highs.
The Dow Jones Industrial Average rose 162.82 points, or 0.46%, to 35,264.67, the S&P 500 gained 4.4 points, or 0.10%, to 4,436.75 and the Nasdaq Composite dropped 72.09 points, or 0.49%, to 14,788.09.
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