Market Live Updates Today: Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 60 points.
image for illustrative purpose
The market is expected to open in the red as trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 60 points.
The BSE Sensex fell nearly 500 points to 55,268 on July 26, dragged by selling in most sectors. The Nifty50 declined 147 points to 16,483.80 and formed a bearish candle on daily charts.
As per pivot charts, the key support level for the Nifty is placed at 16,419 followed by 16,355. If the index moves up, key resistance levels to watch out for are 16,592 and 16,701.
US Markets
US stocks ended sharply lower Tuesday as a profit warning by Walmart dragged down retail shares and exceptionally weak consumer confidence data also fueled fears about spending.
The Dow Jones Industrial Average fell 228.5 points, or 0.71%, to 31,761.54, the S&P 500 lost 45.79 points, or 1.15%, to 3,921.05, and the Nasdaq Composite dropped 220.09 points, or 1.87%, to 11,562.58.
Asian Markets
Asia-Pacific shares traded mixed on Wednesday ahead of Australia's inflation report and with investors looking forward to the US Fed's policy decision. Japan's Nikkei 225 slipped 0.19%, while the Topix index declined 0.1%.
In Australia, the S&P/ASX 200 gained 0.23%. South Korea's Kospi recovered from slight losses to rise fractionally. MSCI's broadest index of Asia-Pacific shares outside Japan was about flat.
Live Updates
- 27 July 2022 9:23 AM IST
Oil settles down on lower US consumer confidence
Oil prices reversed early gains and settled lower on Tuesday, as investors worried about lower consumer confidence and braced for another 20 million barrels of crude oil to be released from the US Strategic Petroleum Reserve.
Brent crude futures fell 75 cents, or 0.7%, to settle at $104.40. US West Texas Intermediate (WTI) crude fell $1.72 cents, or 1.8%, to $94.98.
- 27 July 2022 9:22 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net sold shares worth Rs 1,548.29 crore, whereas domestic institutional investors (DIIs) net bought shares worth Rs 999.36 crore on July 26, as per provisional data available on the NSE.
- 27 July 2022 9:21 AM IST
Maruti Suzuki Q1 profit may see sequential decline on weak revenue, operating performance
Maruti Suzuki India Ltd, the country's largest car maker, is expected to report 5-12 percent sequential fall in profit for the quarter ended June 2022 on lower revenue and operating income, but on-year basis, the growth would be more than 250 percent due to low base. The June 2021 quarter was affected by the emergence of the second wave of COVID-19, which forced several states to announce lockdowns.
Revenue is likely to fall in the range of 1-3 percent sequentially for the quarter supported by price hikes taken by the company and impacted by lower volumes, but the year-on-year (YoY) growth could be more than 45 percent, as per brokerage houses.
- 27 July 2022 9:21 AM IST
Indian pharma firms likely to see muted revenue growth from US generics market in FY23: Icra
Indian pharmaceutical firms are likely to witness muted revenue growth from the US generics market in FY23 due to price erosion pressure, according to ratings agency Icra.
The US has always been a key market for Indian pharmaceutical companies but over the past few years, the revenues from there have grown at a relatively modest pace due to consistent pricing pressure, lack of major generic product launches and increased regulatory scrutiny, Icra said in a statement.
In FY22, the ratings agency said, the revenues from the US pharmaceutical market for its sample of eight leading Indian pharmaceutical companies declined marginally by 0.2 per cent owing to high single-digit to low-teens price erosion. On the outlook, Icra vice president and co-group head Kinjal Shah said, "Icra expects mid to high single-digit price erosion to continue to exert pressure over the near term, resulting in muted revenue growth for the Indian pharmaceutical companies from the US generics market in FY23."
- 27 July 2022 9:20 AM IST
IMF cuts India's FY23 growth forecast by 80 bps to 7.4%
The International Monetary Fund (IMF) has cut its gross domestic product (GDP) growth forecast for India for the current financial year by 80 basis points to 7.4 percent. A similar downgrade has been made to the growth forecast for FY24, which now stands at 6.1 percent as against 6.9 percent earlier.
"For India, the revision reflects mainly less favourable external conditions and more rapid policy tightening," the IMF said on July 26 in an update to its World Economic Outlook report.
- 27 July 2022 9:20 AM IST
SGX Nifty
Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 60 points. The Nifty futures were trading around 16,415 levels on the Singaporean exchange.
