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Stock Market LIVE Updates: Sensex sheds 150 points, Nifty below 17,300; Tata Steel drops 2%, Zomato jumps 7%

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Nifty Metal down more than 1%

Price as on 02 Aug, 2022 09:43 AM, Click on company names for their live prices.

Zomato, the online food delivery platform said its consolidated net loss in the first quarter of the current financial year almost halved to Rs 186 crore due to higher income. The company had reported a net loss of Rs 360.7 crore in the year-ago period.

Price as on 02 Aug, 2022 09:41 AM, Click on company names for their live prices.

ITC reported a 33.46 per cent rise in consolidated net profit to Rs 4,462.25 crore for the April-June quarter following a good performance by its business verticals. The company had posted a net profit of Rs 3,343.44 crore during the April-June quarter of the previous fiscal.

Price as on 02 Aug, 2022 09:38 AM, Click on company names for their live prices.

India’s benchmark 10-year bond yield falls to 7.18% in early trade, lowest since May 4

Stocks in focus: ITC, Zomato and more

The market message from the sharp decline in the US 10-year bond yield to 2.57% from the recent high of 3.27% is that the Fed is nearing the end of its tightening cycle with only one more large hike in September and small hikes thereafter taking the terminal rate to around 3.5%. This has facilitated the rally in global markets with India emerging as one of the best performers. There is a consensus that India will be the fastest growing large economy in the world this year and next with the least vulnerability to a global growth slowdown. This, and the dollar index dipping to below 106 from the recent high of above 109, have paved the way for the return of FIIs who have turned consistent buyers now. The 2100 point rally in Nifty from the June lows has pushed the market into overbought territory with rising valuations. Markets are likely to consolidate in the near-term. Capital goods and autos (the PV and CV segments) are on a strong wicket.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Check out the most active stocks on NSE in opening deals

Price as on 02 Aug, 2022 09:31 AM, Click on company names for their live prices.

OPENING BELL: Sensex sheds 150 points, Nifty below 17,300; Tata Steel drops 2%, Zomato jumps 7%

Asian stocks slide with oil on recession jitters

Asia stocks continued a decline from Wall Street on Tuesday, and U.S. long-term Treasury yields sank to a four-month low, pulling the U.S. dollar down against the yen and other currencies as investors worried about the risk of global recession.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 49.5 points, or 0.28 per cent, lower at 17,343.50, signaling that Dalal Street was headed for a negative start on Tuesday.

Quarterly earnings today

Adani Green Energy, Siemens, Indus Towers, Bosch, Godrej Properties, Voltas, Gujarat Gas and Deepak Nitrite are among companies that will announce their quarterly earnings today.

Tech View: Nifty enters overbought zone, no signs of weakness yet

Nifty50 on Monday settled higher for the third straight day and formed a bullish candle on the daily chart that resembled a Hanging Man candle, suggesting a possible halt to the ongoing positive momentum. The index has also entered the overbought zone, as suggested by the 14-day RSI, but there are no clear signs of weakness as yet.

Oil prices slip as weak manufacturing data stokes recession fears

Oil prices edged lower on Tuesday, extending losses from the previous session, as investors worried about global oil demand following weak manufacturing data in several countries. Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel.

Tokyo shares open lower after US losses

Tokyo shares opened lower on Tuesday following modest losses on Wall Street, where petroleum-linked shares retreated. The benchmark Nikkei 225 index fell 0.62 percent, or 174.40 points, to 27,818.95 at the open, while the broader Topix index dropped 0.64 percent, or 12.55 points, to 1,947.56.

US stocks slip, crude slides as soft data feed recession jitters

Wall Street ended a three-day winning streak and crude prices plunged on Monday as economic data from the U.S., Europe and China showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite.

Rupee rises by 18p to close at nearly 4-week high against dollar

The rupee rose by 18 paise to close at a nearly four-week high of 79.06 against the US currency on Monday following foreign fund inflows, a decline in crude oil prices and weak American currency in global markets.

Sensex, Nifty on Monday

Led by the auto pack, the 30-share pack Sensex jumped 545.25 points or 0.95 per cent to close at 58,115.50. Its broader peer, Nifty50, also rose 181.80 points or 1.06 per cent to close above the 17,340.05 mark.

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