Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with a 45 points gain
Markets Live Updates
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 45 points gain.
BSE Sensex was down 123.53 points at 52,852.27, while the Nifty50 fell 31.50 points to 15,824.50 and formed bearish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 15,783.23, followed by 15,741.97. If the index moves up, the key resistance levels to watch out for are 15,879.53 and 15,934.57.
US Markets
All three major US stock indexes eked out record closing highs for a second straight session on Monday as investors were optimistic heading into a slew of earnings from heavyweight technology and internet names this week, while caution ahead of a Federal Reserve policy meeting kept the market in check.
The Dow Jones Industrial Average rose 82.76 points, or 0.24%, to 35,144.31, the S&P 500 gained 10.51 points, or 0.24%, to 4,422.3 and the Nasdaq Composite added 3.72 points, or 0.03%, to 14,840.71.
Asian Markets
Shares in Asia-Pacific edged higher in Tuesday morning trade as several major Chinese tech stocks in Hong Kong remained under pressure following a Monday tumble.
Nikkei 225 in Japan gained 0.63% while the Topix index advanced 0.61%. South Korea's Kospi traded 0.76% higher.
Foreign institutional investors (FIIs) net sold shares worth Rs 2,376.79 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,551.27 crore in the Indian equity market on July 26, as per provisional data available on the NSE.
The government's total tax collection in the April-June quarter grew about 86 percent to more than Rs 5.57 lakh crore, Parliament was informed on Monday. Out of the total amount, collection of net direct tax stood at Rs 2.46 lakh crore and of indirect tax was at Rs 3.11 lakh crore.
"The net direct tax collection in the 1st quarter of FY 2021-2022 is Rs 2,46,519.82 crore as against Rs 1,17,783.87 crore during the same period of previous FY 2020-21 representing a growth of 109.3 percent," Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha.
Securities & Exchange Board of India has asked registrar and transfer agents (RTA) to jointly develop a common platform for serving existing and future mutual fund investors. The platform will allow investors to place both transaction and service requests.
The platform will be jointly built by RTAs- KFintech and CAMS. In the first phase the investors will be given access to the platform. “Initially the platform can be used to carry out 17 non-financial transactions,” says a senior official in mutual fund industry.
Describing the recent two consecutive spikes in retail inflation beyond the 6 percent as a 'transitory hump', a Wall Street brokerage on Monday said it expects the RBI to overlook it and unanimously stick to the dovish stance at the forthcoming policy review, even though a further upward revision of its already-revised inflation target is more likely.
"We expect the MPC to stick with a dovish pause in the August 6 policy, overlooking the 'transitory hump' in inflation. Thereafter, the normalisation path will depend on the evolution of growth, inflation and the pandemic. The governor is likely to reiterate a dovish message and argue against a hasty withdrawal of monetary policy support," Bank of America Securities India house economists said in a report.
The second wave of COVID-19 may have a more lasting damage on the Indian economy and exports will once again be the foundation for recovery, Moody’s Analytics said on Monday. In its report titled 'APAC Economic Outlook: The Delta Roadblock’, Moody’s Analytics said social distancing is weighing on the current quarter, but economic recovery will resume by the year-end.