PremiumSensex, Nifty may witness volatility at market opening on Thursday. All eyes will be on the start of Q1 earnings season to be kicked off by TCS today. Asian markets were steady at open on cues from Wall Street after S&P 500 and Nasdaq 100 both closed at all-time highs. Minutes of the US Fed's meeting suggest the central bank will wait to ascertain the quality of recovery before deciding on a wind down from the markets.
After the continuous hike in fuel prices and the recent increase in price of LPG cylinders, CNG and PNG prices have been revised from today, as announced by Indraprastha Gas Ltd (IGL), the firm that retails CNG to automobiles and piped natural gas to household kitchens. Compressed natural gas (CNG) retail price has been revised in Delhi to ₹44.30/kg from ₹43.40/kg with effect from 8th July. On the other hand, Piped natural gas (PNG) domestic price is going to be ₹29.66 per SCM (Standard Cubic Meter).
Prime Minister Narendra Modi on Tuesday inducted 36 new faces into his council of ministers, promoted seven junior ministers to independent or cabinet roles, and dropped 12 ministers, including the ministers of health, education, information technology, law, environment and broadcasting, in his biggest reshuffle in the past seven years. (Read here)
Markets are likely to consolidate further on Thursday while trends in SGX Nifty suggest a weak opening of Indian benchmark indices. On Wednesday, the BSE Sensex closed at 53,054.76, up 193.58 points or 0.37%. The Nifty ended at 15,879.65, up 61.40 points or 0.39%. (Read here)
HDFC, Info Edge, JSPL, PNB Housing, Reliance Infra, Unitech, among other stocks may be in the news today. (Read here)
Initial public offering of Zomato Ltd has set the offer price of ₹72-76 a share. Earlier, the firm said that its issue will open for subscription on 14 July and close on 16 July. The issue comprises a fresh issue of ₹375 crore and an offer for sale of ₹9,000 crore by its current promoter Info Edge India Ltd. Employee reservations has kept at 6.5 million shares.
Asian stocks opened steady Thursday, following gains for U.S. shares and Treasuries as the Federal Reserve minutes showed policy makers still awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases. Benchmarks dipped in Japan, where another virus state of emergency for Tokyo looks imminent. Stocks edged up in Australia and South Korea. U.S. futures fluctuated after the S&P 500 and Nasdaq 100 both closed at all-time highs. Ten-year U.S. Treasury yields steadied around 1.31% after falling for seven trading days as inflation expectations continued to ease.
S&P 500 futures were steady as of 9:25 a.m. in Tokyo. The S&P 500 rose 0.3%
Nasdaq 100 futures edged up 0.1%. The Nasdaq 100 rose 0.2%
Topix index fell 0.2%
Australia’s S&P/ASX 200 Index rose 0.7%
Kospin index rose 0.2%
Hang Seng Index futures were little changed
US stocks rose to record highs and bonds gained as minutes from the Federal Reserve’s latest meeting showed policy makers continued to see elevated uncertainty and debated the tapering of debt purchases used to fuel stimulate to the economy. Ten-year U.S. note yields fell for a second day, dropping briefly below 1.3% for the first time since February, as expectations for an inflationary economic recovery continued to fade. The S&P 500 and Nasdaq Composite each closed at all-time highs, with the benchmark S&P doing so for the eighth time in nine trading sessions.Fed officials expected to continue to make progress on reaching its threshold to scaling back their massive asset purchases, the record of their June gathering showed.
The S&P 500 rose 0.3% to a record high as of 4 p.m. New York time
The Nasdaq 100 rose 0.2% to a record high
The Dow Jones Industrial Average rose 0.3%
The MSCI World index rose 0.2%
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