Market Live Updates Today: Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 16 points.
The benchmark indices maintained uptrend for seventh consecutive session on Wednesday as the BSE Sensex climbed 418 points to 60,260, while the Nifty50 rose 119 points to 17,944 and formed bullish candlestick pattern on the daily charts.
image for illustrative purpose
The benchmark indices maintained uptrend for seventh consecutive session on Wednesday as the BSE Sensex climbed 418 points to 60,260, while the Nifty50 rose 119 points to 17,944 and formed bullish candlestick pattern on the daily charts.
As per the pivot charts, the key support level for the Nifty is placed at 17,863, followed by 17,782. If the index moves up, the key resistance levels to watch out for are 17,996 and 18,047.
US stocks closed lower on Wednesday, with indexes volatile after minutes from the Federal Reserve's meeting in July suggested policymakers may be less aggressive than previously thought when they raise interest rates in September.
The Dow Jones Industrial Average fell 171.69 points, or 0.5%, to 33,980.32, the S&P 500 lost 31.16 points, or 0.72%, to 4,274.04 and the Nasdaq Composite dropped 164.43 points, or 1.25%, to 12,938.12.
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Asian markets were trading mixed on Thursday with the Nikkei down a percent while the Kospi shedding 0.5 percent in the morning session. On the other hand, Hang Seng added half a percent.
Live Updates
- 18 Aug 2022 9:25 AM IST
Stocks under F&O ban on NSE
Three stocks – Balrampur Chini Mills, Delta Corp and Tata Chemicals – are under the NSE F&O ban list for August 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
- 18 Aug 2022 9:25 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net bought shares worth Rs 2,347.22 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 510.23 crore on August 17, as per provisional data available on the NSE.
- 18 Aug 2022 9:24 AM IST
Telecom subscribers in India increased by 2.22 million in June: TRAI
The number of telephone subscribers in India increased by 2.22 million from 1,170.73 million at the end of May 2022 to 1,172.96 million at the end of June 2022, data released by the Telecom Regulatory Authority of India showed on August 17.
In urban areas, the number of subscribers increased from 647.81 million at the end of May to 649.09 million at the end of June and the rural subscription also increased from 522.92 million to 523.87 million during the same period, data showed.
As on June 30, 2022, the private telecom service providers held 90 percent market share of the wireless subscribers whereas BSNL and MTNL, the two PSU service providers, had a market share of only 10 percent.
Reliance Jio cemented its lead in the Indian telecom market as it gained over 42 lakh mobile subscribers in June, as per data released by the sector regulator.
Wipro holds back April-June quarter variable payouts for mid, senior-level employees
Software major Wipro Limited has decided to pause variable payouts for the April-June quarter for mid and senior-level employees amid significant pressure on margins, people familiar with the development have told Moneycontrol. Variable pay is not being given to those in Band C (mid-manager level) and above and incentives for those in sales roles have also been impacted, sources said.
Wipro's move to hold variable pay and defend margins comes amid fears of a possible recession in the US, the biggest technology market for Wipro and other Indian IT companies such as TCS and Infosys.
For employees in Band A and B (freshers and associates), the company is paying out 70 percent of the target variable pay if they meet the billability threshold along with the salary for August to be paid at the end of the month.
- 18 Aug 2022 9:24 AM IST
Japan's GDP expands in Q2 after Covid curbs lifted
Japan's economy expanded in the three months to June, official data showed Monday, after the government lifted Covid-19 curbs on businesses. The world's third-largest economy grew 0.5 percent quarter-on-quarter due to stronger consumption and capital investment, but the rise was below market expectations of 0.7 percent.
From April to June, private consumption grew 1.1 percent compared with the 0.3 percent registered in the January-March quarter, according to the data released by the Cabinet Office. Blackstone to likely sell Sona BLW shares worth Rs 4,000 crore in block deal today
Private equity firm Blackstone via its affiliate - Singapore VII Topco III PTE - may exit part of its stake in Sona BLW Precision Forgings Ltd via block deal on August 18. It is likely to raise Rs 4,000 crore through the transaction, according to a term sheet seen by CNBC Awaaz.
Blackstone would be offloading a total of 7.94 crore shares or 13.6 percent stake it holds in Sona BLW Precision Forgings, at a price band of Rs 500 per share, a discount of 5 percent from its Wednesday's close, as per the deal terms released on August 17. Nomura is the sole broker to the deal.
- 18 Aug 2022 9:23 AM IST
Fed minutes show more rate hikes in the pipeline, but pace could slow
Federal Reserve officials saw "little evidence" late last month that US inflation pressures were easing, and steeled themselves to force the economy to slow down to control an ongoing surge in prices, according to the minutes of their July 26-27 policy meeting.
While not explicitly hinting at a particular pace of coming rate increases, beginning with the September 20-21 meeting, the minutes released on Wednesday showed US central bank policymakers committed to raising rates as high as necessary to tame inflation - even as they began to acknowledge more explicitly the risk they might go too far and curb economic activity too much.
