Nifty extended its gains for three straight days but Wednesday rally was mainly contributed by Nifty IT index which was up 3% ahead of Infosys results. With USDINR gaining strength and Nifty remaining stuck in the range of 15620-15900, we may witness sharp fall in market in the coming days. Last one-month activity is narrow range and is a sign of distribution and wider cracks as USDINR crosses the 74.86 mark.
Global stocks prices closed flat and bond yields edged lower on Wednesday after U.S. Federal Reserve Chair Jerome Powell soothed investor angst by saying a recent inflation spike will fade, helping lift the S&P 500 to a fresh intraday record. The Dow Jones Industrial Average rose 0.13%, the S&P 500 added 0.12% and the Nasdaq Composite slipped 0.22%. Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the U.S. economy was “still a ways off” from levels the central bank wanted to see before tapering its monetary support.
Adani Ports Says forms a unit Adani Gangavaram Port
Amara Raja Batteries Says court extends interim suspension of closer order of Andhra Pollution Control
Axis Bank Says information in Madanlal Dhariya’s tweet factually incorrect; Tweet posted to damage the reputation of bank
JSW Energy Plans to spend $10 billion on clean power by 2030
Lupin Vertex Sues Lupin to Block Copies of Cystic Fibrosis Drug
Marico To make strategic investment in Apcos Naturals, to take a 60% stake
Sterlite Technologies To consider raising funds via shares, securities on July 22
India Increases Inflation-Linked Allowance for Govt Employees. Approves plan to give subsidy to Indian shipping companies
India Offers to Work Closely With Oil Producers to Calm Market
Infosys Earnings Trail Estimates as Labor Costs Hurt Margins. Co raises revenue growth guidance for the year to 14%-16%
ICICI Prudential Fund Raises Record $1.3 Billion in New Offer.
Billionaire Adani to Control Mumbai Airport in Rebound Bet
India Top Court Upholds Regulator’s Powers in Franklin Case
India’s Sugar Output Seen Steady at 31M Tons in 2021-22: ISMA
India Cumulative Monsoon Rainfall 5% Below Normal as of July 14
BRICS Q3 CPI Forecast Steady in Past Week; India Up to 5.5%
India Foreign Minister Jaishankar Holds bilateral meeting with Chinese Counterpart: PTI
Piyush Goyal appointed Leader of House in upper house of parliament: PTI
Macro Data Today:
5pm: India June trade balance, est. -$9.4b, prior -$6.28b
India June Exports YoY, no est., prior 69.3%
India June Imports YoY, no est., prior 73.6%
Must Read: Zomato Ltd. IPO (Recommendation: Avoid)
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning without any cost on: http://bit.ly/Robo-Fintoo
Disclaimer: The views shared in blogs are based on personal opinion and does not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.
Stay up-to-date with the latest information.