India’s stock benchmarks closed at record amid positive global cues following Federal Reserve Chairman Jerome Powell’s dovish comments that the U.S. central bank would not be in a hurry to hike rates. Nifty rallied on back of support of financials with Bank Nifty gaining by 2% and regaining its control above 36300, while Nifty crossed above short term resistance of 16875. The current week closing is very crucial for Nifty as with formation of hanging man in past week, we may witness hyper volatility with trading range seen at 16592-17050. Adding to it, Bank Nifty has entered into breakout zone after yesterday’s upmove hence if it fails to aggravate momentum on upside, it may see sharp drop to 32000.
The S&P 500 and the Nasdaq closed at fresh all-time highs on Monday, extending record closes from Friday boosted by key technology stocks including Microsoft, Apple and Netflix. The Dow Jones Industrial Average was up 0.1%, the S&P 500 and the Nasdaq Composite added 0.59% and 0.91%, respectively. Asian indices mostly slipped in Tuesday morning trade, as data showed slowing Chinese factory activity growth in August.
Gold held steady near a four-week high on Monday as the dollar and U.S. bond yields fell as a result of the words spoken by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium last Friday. Oil prices fell on Monday, retreating from more than three-week highs reached earlier in the session, as hurricane Ida weakened to a tropical storm after crashing into Louisiana.
Stocks in news
- NTPC ups coal output, seeks to boost stocks to meet electricity demand
- Amazon asks Sebi to comply with SC order related to $3.4-bn Future-RIL deal
- Budget carrier Go Airlines gets Sebi’s go-ahead for Rs 3,600 crore IPO
- For every Rs 100 earned, Rs 35 goes to govt – Sunil Mittal on telecom
- NTPC gears up to meet rising power demand; generation up 23%
- Axis Bank begins issuing debt securities under Rs 35,000 cr-debt raise plan
- Maruti Suzuki to hike prices across models from Sept as input costs rise
- Govt looks to sell shares of Reliance Industries held through SUUTI
- Moody’s assigns B1(hyb) rating to Axis Bank’s proposed AT-I capital bonds
- Chennai-based NBFC Shriram City looks to disburse up to Rs 23K cr in FY22
- GIC Housing Finance’s bad loans spike to 11.4% in Q1, solvency weakens
- NHPC Says 60 MW Of Bairasiul Power Station (3 X 60 Mw) In Himachal Pradesh Has Been Tested And Commissioned
- L&T Construction, the construction arm of the company has bagged a slew of orders in India and abroad for its various businesses
- Sunil Mittal, Bharti Airtel founder-chairman – The board approved the fresh capital raise which will allow the company to have a better leverage ratio, stronger and earlier access to building new market opportunity across 5G, fibre and homes, and importantly, give us the needed elbow room and fuel to fearlessly accelerate its mission
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