Market sentiment was also bolstered after Finance Minister Nirmala Sitharaman on Monday unveiled an ambitious Rs 6 lakh crore National Monetisation Pipeline (NMP) that included unlocking value by involving private companies across infrastructure sectors. Nifty extended gains with Bank Nifty leading from front in recovery and the latter closed well above 36500. With Global central banks meeting lined up this Friday, markets are building expectation that current monetary easing may continue especially for emerging markets like India. For Nifty, last week high of 16700 still remains a key hurdle and move below 16550 may derail yesterday’s up move.
All three major US stock indexes edged up on Tuesday, with the S&P 500 and the Nasdaq closing at all-time closing highs on strong corporate earnings. Traders await a highly-anticipated speech by Fed Chairman Powell during the virtual Jackson Hole Symposium on Friday for more clarity on the Fed’s tapering timeline. Dollar slipped further as oil rallies, commodity currencies gain. The Dow Jones Industrial Average rose 30.55 points, or 0.09%, to 35,366.26, the S&P 500 gained 6.7 points, or 0.15%, to 4,486.23 and the Nasdaq Composite added 77.15 points, or 0.52%, to 15,019.80.
Stocks in news
Gillette India logs 35% rise in profit at Rs 310 crore
Power Finance Corp inks pact with NHPC to finance hydro projects
SC directed DoT not to invoke the bank guarantees (BGs) of Bharti Airtel for three weeks for recovering ₹ 1,376 crore in AGR-related dues of Videocon
Maruti chairman urges India Inc’s managements to cut expenditure amid Covid
Moody’s upgrades Vedanta’s senior unsecured notes; outlook ‘stable’
Infosys extends tech contract with a new minimum 3-year agreement with UCAS
India considers allowing foreign direct investment in LIC
Tata Steel, Mitsui OSK Lines sign MoU to develop eco-friendly shipping line
Tata Sons seeks shareholders’ approval to raise Rs 40,000 crore in debt
ITC to invest $2 billion across segments in medium-term, says MD
NTPC commissions 15 MW floating solar capacity at Andhra’s Simhadri
RBI approves re-appointment of Sandeep Bakhshi as ICICI Bank MD & CEO
HDFC Bank divests over 25% stake in CDSL for Rs 223 crore
Bank of India plans to raise Rs 3,000 cr equity capital via QIP
REITs, InvITs to be included in Nifty indices from September 30: NSE
India’s GDP likely to grow at 18.5% in Q1FY22 – SBI
India’s crude oil production continues to fall, dips 3.2% in July
Indian pharma exporters are apprehensive to send goods to the war-torn country and the target of exporting USD 126 million worth of pharmaceutical goods to the Taliban
Must Read: Attain Financial Freedom in 10 Simple Steps
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.