Business

Share Market Today: Sensex gains 548 points, Nifty ends above 16,600 mark

Market Today(27 July, 2022): The frontline equity indices on the BSE and National Stock Exchange (NSE) ended nearly 1 per cent higher on Wednesday, ahead of the results of the FOMC meet.

The S&P BSE Sensex gained 547.83 points (0.99 per cent) to end at 55,816.32, while the Nifty 50 rallied 157.95 points (0.96 per cent) to settle at 16,641.8.

On the Sensex pack, Sun Pharmaceutical Industries, State Bank of India, Larsen & Toubro (L&T), Bajaj Finance, Asian Paints, Tata Consultancy Services (TCS), UltraTech Cement, Dr Reddy’s Laboratories, Axis Bank, HCL Technologies, Induslnd Bank, Maruti Suzuki India, Hindustan Unilever, Tata Steel, Infosys, and Power Grid Corporation of India were the top gainers. 

On the contrary, Bharti Airtel, Kotak Mahindra Bank, NTPC, Bajaj Finserv, and Reliance Industries were the only losers.

Among the sectoral indices on NSE, Nifty Pharma gained 2.33 per cent, Nifty Healthcare Index surged 2.26 per cent, Nifty Media rallied 2.12 per cent, and Nifty PSU Bank rose 2.01 per cent.

In the broader market, the S&P BSE MidCap index ended at 23,590.14, up 209.46 points (0.90 per cent), while the S&P BSE SmallCap settled at 26,517.80, up 99.89 points (0.38 per cent). On NSE, the volatility index or India VIX fell 0.22 per cent to 18.13.

“Ahead of a critical FOMC meeting, markets have been buoyant in hopes that the process of monetary tightening is drawing to a close. Cooling of raw material prices have helped Autos & FMCG names, while 1Q results have been quite encouraging thus far. Nifty has regained its 200-ema, which is a technically positive development while Banks are showing greater relative strength. Barring any major shocks in monetary policy from the Fed, we can expect market breadth to expand and mid-caps to start participating more strongly in the market rally,” said S Hariharan, Head- Sales Trading at Emkay Global Financial Services

Global Market: 

-input from Reuters

Better-than-expected earnings from a raft of US and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an energy crunch due to Russian gas supply cuts.

Futures for the US S&P 500 and Nasdaq and rose 1 per cent to 1.5 per cent, while a pan-European equity index was up 0.4 per cent. Wall Street sentiment was lifted by 4-5 per cent gains on shares in Microsoft and Google parent Alphabet, which forecast strong revenue growth and posted solid search engine ad sales respectively .

In Europe, Deutsche Bank reported a forecast-beating profit rise as did Italy’s Unicredit, boosting an index of European bank shares to a one-week high. A range of sectors reported solid earnings too, from carmaker Mercedes Benz and luxury firm LVMH to energy firm Equinor and food producer Danone.

Earlier, heavyweight chipmakers helped Japan’s Nikkei close higher, but a warning from the world’s second-biggest chipmaker, SK Hynix, of slowing demand saw other Asian shares fall 0.5 per cent. Australian miner Rio Tinto too posted a 29 per cent drop in first-half profits and more than halved dividends, citing weak Chinese demand, higher costs and labour shortages.




Source link

The Press Walla

The Press Walla is the India's fastest growing youth online magazine which covers all latest trending stories from entrepreneurship, business, entertainment etc

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button