Wall Street Live: S&P 500, Dow Jones, Nasdaq rise on hopes of dovish Fed board
At the open, the Dow Jones Industrial Average rose 76.3 points, or 0.17%, to 44044.95. The S&P 500 rose 15.2 points, or 0.24%, to 6355.22, while the Nasdaq Composite rose 73.7 points, or 0.35%, to 21316.366.
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India.com
5 minutes ago
- India.com
Indian Rupee Strengthens Against Us Dollar Despite Tariff Concerns
New Delhi: The Indian rupee opened stronger on Monday, amid additional 25 per cent tariff proposed by US President Donald Trump on India, which is set to take effect from August 27. The rupee likely inched up higher on optimism that the Russia-Ukraine war will end following the upcoming US-Russia negotiations on August 15, leading to removal of additional tariffs on India. The local currency opened 13 paise stronger at 87.53 against the US dollar up from 87.66 on Friday. The immediate trading range is expected to be between 87.25 and 87.80, according to analysts. The Indian rupee was expected to open with small gains today at 87.51, while markets are awaiting US and domestic inflation data. Indian markets are focused on domestic CPI and WPI inflation data, set to be released on August 12 and August 14. Additional tariffs, if implemented, are expected to put pressure on the Indian rupee against the US dollar in the short term due to reduced export revenues, capital outflows, and inflationary pressures. US' new tariffs on India are expected to affect sectors such as textiles, leather, and seafood. India sharply criticised the tariffs, calling it "unfair and unreasonable". US has singled out India for the harshest tariff rate of 50 per cent, compared to 30 per cent for China and 15 per cent for Turkey, despite all three countries importing Russian oil. Brent oil prices dropped to $66.25 per barrel in Asian trade on Monday morning, continuing last week's significant declines as traders anticipated upcoming talks between Russia and the US will ease the Ukraine conflict. China released soft inflation data and economic indicators in July, indicating that the economy was recovering slowly, leaving oil markets largely pessimistic about future demand. FII selling persisted during the week in Indian equity markets, indicating broader risk aversion in emerging markets. However, ongoing purchases by DIIs helped mitigate losses.
Business Standard
5 minutes ago
- Business Standard
Nifty above 24,400 level; PSU Bank shares jump
The key equity benchmarks traded with modest gains in the morning trade. The Nifty traded hovered above the 24,400 level. Investors awaited for economic data releases, including WPI, CPI and trade balance, scheduled for later this week. PSU Bank shares advanced after declining the past trading session. At 10:25IST, the barometer index, the S&P BSE Sensex advanced 242.14 points or 0.31% to 80,098.88. The Nifty 50 index added 73.95 points or 0.31% to 24,439.80. In the broader market, the S&P BSE Mid-Cap index rose 0.34%, while the S&P BSE Small-Cap index remained unchanged 0.00%. The market breadth was negative. On the BSE, 1,602 shares rose and 1,756 shares fell. A total of 136 shares were unchanged. Earnings Today: Ashoka Buildcon (down 4.42%), Astral(up 0.33%), Awfis Space Solutions(up 0.92%), Bajaj Consumer Care(down 0.98%), Bata India(up 0.06%), Belrise Industries (down 1%), BEML(up 2.17%), Capacite Infraprojects(down 0.36%), Cello World(down 2.05%), Dollar Industries(down 0.46%), Esab India(down 0.66%), Eureka Forbes(down 0.10%), Goldiam International(up 1.30%), Goodyear India(down 0.04%), HLE Glascoat(down 1.25%), Ipca Laboratories(down 1.52%), JM Financial (down 0.45%), KNR Constructions(down 0.93%), Krsnaa Diagnostics(down 1.23%), Man Industries (India)(down 1.48%), Muthoot Microfin (down 1.82%), Som Distilleries & Breweries(up 0.71%) will announce their result later today. Buzzing Index: The Nifty PSU Bank index advanced 1.64% to 6,994.15. The index dropped 0.41% in the past trading session. Indian Bank (up 2.37%), State Bank of India (up 2.03%), Bank of Baroda (up 1.62%), Bank of India (up 1.43%), Union Bank of India (up 1.36%), Punjab National Bank (up 1.28%), Canara Bank (up 1.12%), Punjab & Sind Bank (up 0.36%), Indian Overseas Bank (up 0.11%) and Central Bank of India (up 0.03%) surged. Stocks in Spotlight: Jupiter Wagons (JWL) rose 0.71%. The company said that it has bagged an order worth Rs 242.41 crore from GATX India for the manufacturing and supply of 583 specialised wagons. Jyoti Structures climbed 2.99% after the company secured a Rs 639 crore order for 765 kV and 400 kV transmission line projects in India on a turnkey engineering, procurement, and construction (EPC) basis.
Economic Times
5 minutes ago
- Economic Times
India bonds rangebound ahead of state debt supply, CPI data
Indian government bonds traded narrowly as traders awaited state debt auction results and inflation readings from India and the U.S. The 10-year bond yield was at 6.4219%. State debt supply is lower than anticipated. India's July retail inflation is expected to ease to 1.76%. U.S. inflation data could influence the Federal Reserve's rate-cut decisions, impacting the domestic bond market. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Indian government bonds traded in a narrow range in early deals on Friday, as traders awaited the state debt auction and the India and U.S. inflation readings due a day yield on the benchmark 10-year bond was at 6.4219% as of 10:10 a.m., compared with Friday's close of 6.4121%. Government bond yields surged in the final market hours on Friday, after New Delhi approved a large compensation for oil marketing companies, triggering concerns of more fiscal measures by the government."A lower-than-expected state debt supply likely triggered some short covering at open, but the yields are expected to remain rangebound," a trader at a private bank states are set to raise 84.5 billion rupees ($965.44 million) via bonds later in the day, which is lower than what traders had large action would be seen only after inflation print, another trader said, expecting the 10-year bond yield to oscillate between 6.38% and 6.43% during the July retail inflation data , which is due at 4:00 p.m. IST on Tuesday, is expected to ease to an eight-year low of 1.76%, down from 2.10% in June, according to a Reuters U.S. inflation reading is also due after market hours on Tuesday, which could influence the Federal Reserve's rate-cut trajectory and have a bearing on the domestic bond market. RATES India's overnight index swap rates were little changed in early deals, as traders awaited the U.S. and India inflation data for directional one-year OIS rate was at 5.50% and the two-year OIS rate was at 5.4550%. The liquid five-year OIS rate was up slightly at 5.6750%. ($1 = 87.5250 Indian rupees).
