Stock Market LIVE Updates: GIFT Nifty indicates a negative start; US markets gain, Asia trade lower

view original post

India’s forex reserves dropped USD 1.713 billion to USD 651.997 billion for the week ended June 28, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the overall kitty had dropped USD 2.922 billion to USD 652.895 billion. The reserves had touched an all-time high of USD 655.817 billion as on June 7 this year.

For the week ended June 28, foreign currency assets, a major component of the reserves, decreased USD 1.252 billion to USD 572.881 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.Read More

#1 Reports billing growth of 11 percent YoY in Q1FY25
#2 Improvement in Naukri billing on a low base
#3 9 percent YoY growth in Naukri’s billing is highest in 5 quarters
#4 Underlying hiring trends remain weak
#5 YoY improvement in billing suggests a potential pick up in hiring

The euro slipped on Monday after projections from France’s election pointed to a hung parliament amid an unexpectedly strong showing for a left-wing alliance, spawning fresh uncertainty over the country’s fiscal outlook.

The dollar remained on the back foot following surprisingly soft U.S. payrolls data on Friday, which boosted bets for the Federal Reserve to start cutting interest rates as early as September.

The yen headed for a third day of gains after rebounding from last week’s nearly 38-year trough to the dollar.

Sterling rose to a 3-1/2-week top versus its U.S. peer as the British currency continued to firm following the Labour Party’s landslide election victory last week, which ended 14 years of Conservative rule.

#1 Jaguar Land Rover reports 5% YoY rise in Q1 sales
#2 Ratan Kumar Kesh Interim CEO of Bandhan Bank for 3 months
#3 Bank of Baroda gets board nod to raise Rs 7,500 crore via debt instruments
#4 Titan reports 9% revenue growth in Q1 YoY, adds 61 stores
#5 Dabur Q1 update: Demand sees sequential improvement, rural recovery on the cards
#6 Marico Q1 Update: Modest increase in volume growth on improved demand
#7 Nykaa Q1 update: Revenue growth likely at 22-23% YoY
#8 IndusInd Bank advances climb 16%; deposits rise 15% YoY in Q1

Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday.

Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel after closing down 89 cents on Friday.

U.S. West Texas Intermediate crude was at $83.08 a barrel, down 8 cents, after settling down 72 cents in the previous session.

Trends on GIFT Nifty indicate a negative start for the broader index in India, with a loss of 29.5 points or 0.12 percent. The Nifty futures were trading around 24,386 level.

#1 Wall Street extends record run clocking 4th week of gains in 5
#2 Asian markets mixed ahead of US, China inflation data
#3 US unemployment rate rises to 4.1% vs 4%
#4 US economy added 206,000 jobs in June; beating expectations
#5 US 10-year yield falls after unemployment rate rises unexpectedly
#6 Cues to watch this week: Powell testimony before US Senate and the House, CPI data
#7 US crude oil posts 4th straight weekly gain on solid demand outlook
#8 Gold rises to 1-month high post US jobs report
#9 GIFT Nifty signals a negative start

Wall Street stock indexes closed firmer on Friday, with the tech-heavy Nasdaq and benchmark S&P 500 hitting record highs, as new data showing U.S. labor market weakness boosted expectations for interest rate cuts as early as September.

The Dow Jones Industrial Average rose 67.87 points, or 0.17%, to close at 39,375.87. The S&P 500 gained 30.17 points, or 0.54%, at 5,567.19 and the Nasdaq Composite advanced 164.46 points, or 0.90%, to 18,352.76.

For the week, the S&P 500 gained 1.95%, the Nasdaq rose 3.5% pct, and the Dow climbed 0.66%.

Indian shares recovered from early losses to finish flat on July 5. Gains in Reliance Industries, State Bank of India, and Hindustan Unilever offset losses in HDFC Bank Ltd. Analysts expressed concerns following a weaker-than-expected Q1 business update from HDFC Bank.

The sensex closed 0.1 percent lower and Nifty, ended up 0.1 percent. During intraday trading, Sensex saw a decline of over 550 points, while Nifty dropped by 130 points.

Among sectoral gainers on the Nifty, Nifty Oil & Gas led the way with a gain of 1.9 percent, followed by Nifty Pharma and PSU Bank, both up by 1.3 percent each. Nifty FMCG also showed strength with a gain of one percent. On the other hand, among sectoral losers, Nifty Bank was the top decliner, down by 0.8 percent, followed by Nifty Consumer Durables, which was down 0.2 percent.