India VIX soared higher last week.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets enter Monday’s trading session on the back of a week of losses. S&P BSE Sensex currently sits at 52,586 while the NSE Nifty 50 is placed at 15,763. During the previous week, volatility soared higher forcing India VIX to jump more than 8%. On Monday morning, SGX Nifty was nearly 100 points higher, hinting at a positive start for domestic equities. Global cues were mixed with Wall Street having closed in red on Friday, followed by Hang Seng, Shanghai Composite during the early hours of trade on Monday. However, some Topix, Nikkei 225, and KOSDAQ were up in the green.
Dalal Street investors will be closely watching the Reserve Bank of India’s Monetary Policy Committee meeting scheduled for later this week. IPO rush continues for domestic investors with four fresh offerings opening for subscription this week. Windlas Biotech, Krsnaa Diagnostics, Exxaro Tiles, and Devyani Internation will all open for subscription on August 4. Recent IPO listings on the bourses have helped investors pocket handsome returns despite the range-bound movement in benchmark indices, hence eliciting more interest from investors for IPOs.
Highlights
US markets pulled back on Friday last week with the Dow Jones closing a shade below 35,000 mark. This has made a Doji structure on the major US Indices on weekly basis making the setup indecisive. Nikkei 225 is leading the recovery in Asia up by 1.5%.
SGX Nifty surged higher in trade, gaining 119 points or 0.75 per cent at 15,893 on Singaporean Exchange. BSE Sensex and Nifty are set to a gap-up opening on Monday, following a week of losses. Last week, the 30-share BSE benchmark dipped 388.96 points or 0.73 per cent. A host of factors such as macroeconomic data, quarterly earnings, RBI MPC, pace of vaccination, auto sales numbers, the progress of monsoon, COVID-19 trends and other global trends will be keenly watched.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have now been left untouched by oil marketing companies for the sixteenth consecutive day. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4, now sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
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Punjab National Bank (PNB), Varun Beverages, Housing Development Finance Corporation, Emami, Castrol India, Carborundum Universal, RBL Bank, CG Power and Industrial Solutions, Balaji Amines, Shree Renuka Sugars, Capri Global Capital, Orient Cement, Kalyani Steels and Nahar Spinning Mills, others will announce their quarterly earnings on 2nd August.
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"Markets have been consolidating in a range i.e. 15,450-15,900 for the last two months and the trend may endure until we see alignment between Nifty and the banking index. While index majors from other sectors are helping the index to hold at higher levels, participation of the banking pack is critical for any sustainable directional move. Meanwhile, we reiterate our view to focus on themes that are currently playing out well and select stocks accordingly," said Ajit Mishra, VP Research. Religare Broking
Gross goods and services tax (GST) collections came in at an impressive Rs 1.16 lakh crore in July (largely June transactions), up a third on year and a quarter on month, reflecting a smart economic recovery after the second Covid-19 wave. That in the first 25 days of July, the average daily e-way bill generation was 8.8% higher than the level in June and 54% higher than in May indicates the August collections (from July sales) could be even higher.
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Foreign portfolio investors (FPIs) pulled out a net Rs 6,105 crore from the Indian capital markets so far in the ongoing financial year amid the pandemic and resultant restructions in many parts of the country. The equity benchmark BSE Sensex has jumped 3,077.69 points or 6.21 per cent during April-July this fiscal.
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Windlas Biotech, Krsnaa Diagnostics, Exxaro Tiles, and Devyani Internation will all open for subscription on August 4. IPOs have been flooding Dalal Street in recent weeks. Strong listing gains have increased investor's interest in public offerings.