Stock Market LIVE Updates: Sensex slips after opening in the green, down 100 points; Nifty below 17,500; NTPC down 2%

Stock Market Live Updates: Indian shares edged higher on Wednesday, led by the consumer goods and banking sectors while losses in tech stocks kept gains in check, as traders looked ahead to U.S. inflation data for clues on the pace of rate hikes from the Federal Reserve.

Indian markets were closed on Tuesday for a holiday.

Nifty’s private bank index was up 0.38% and the fast-moving consumer goods index advanced 0.34%.

The Nifty IT index fell 0.7%, tracking overnight losses in tech-heavy Nasdaq.

Meanwhile, a Reuters poll showed that India’s retail inflation likely eased in July due to a fall in food and fuel prices but stayed well above the Reserve Bank of India’s upper tolerance limit for a seventh consecutive month. The consumer price index data is due on Friday.

Equities in broader Asia fell, taking cues from losses in U.S. overnight as investors awaited U.S. inflation data later in the day. The MSCI’s broadest index of Asia-Pacific shares outside Japa

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Ahead of earnings…

Price as on 10 Aug, 2022 10:24 AM, Click on company names for their live prices.

Pfizer says S. Sridhar, Managing Director, has expressed his intention to take an early retirement and has tendered his resignation as the Managing Director of the company.

Price as on 10 Aug, 2022 10:06 AM, Click on company names for their live prices.

Bank of Baroda is set to sell infrastructure bonds for the first time in the local market, signalling the acceleration of a new infrastructure cycle as the private sector builds new roads, solar power plants and airports.

Price as on 10 Aug, 2022 09:58 AM, Click on company names for their live prices.

Reliance Capital on Tuesday reported narrowing of its consolidated net losses to Rs 491.40 crore in the quarter ended June 2022. The company which is undergoing insolvency process had reported a net loss of Rs 1,006 crore in the year-ago quarter ended June 2021. Total income of the company fell to Rs 3,604.39 crore in April-June 2022-23 from Rs 4,447.52 crore in the same quarter of 2021-22, Reliance Capital said in a regulatory filing.

Price as on 10 Aug, 2022 09:53 AM, Click on company names for their live prices.

Bitcoin slips below $23,000; Solana, Ethereum and Polkadot drop up to 7%

All the top crypto tokens were trading lower on Thursday. Solana plunged 7 per cent, whereas Polkadot and Ethereum dropped 6 per cent each. Polygon and Cardano shed 5 per cent each.The global cryptocurrency market cap was trading lower at the $1.08 trillion mark, dropping as much as 4 per cent in the last 24 hours. However, the total trading volume plunged almost 8 per cent, close to $68.63 billion.

The upside attempt on Monday stalled after the 17450-570 region sucked out the momentum, yet again. An attempt to regroup and aim for 17750 could unfold, if early weaknesses are held above 17380 or if 17570 gets broken right away. Inability to do so should call for falls to at least 17220 before buying interest trickles in. Either way, with VIX upward bound in the last few days, and hovering near 20 now, volatility should dominate the rest of the week.

– Anand James – Chief Market Strategist at Geojit Financial Services

Yes Bank, Voda Idea, IDFC First among top movers in opening trade

Price as on 10 Aug, 2022 09:22 AM, Click on company names for their live prices.

SECTOR WATCH: Nifty IT worst performer, pharma gains the most

OPENING BELL: Sensex rises 50 points, Nifty nears 17,550; IGL gains 3%, NTPC drops 2%

Asian shares track Wall Street losses ahead of US inflation data

Asian shares fell and the dollar steadied on Wednesday as investors waited for a key U.S. report on inflation to provide hints to the Federal Reserve’s plans for future monetary tightening.

Quarterly earnings today

Coal India, Hindalco Industries, Eicher Motors, Tata Consumer Products, IRCTC, Abbott India, Patanjali Foods, Max Healthcare, Zydus Lifesciences, NHPC, Cummins and SAIL are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 38.5 points, or 0.22 per cent, lower at 17,502, signaling that Dalal Street was headed for a negative start on Wednesday.

Tech View: Nifty50 forms a strong bullish candle

The Nifty50 closed in the green for the second consecutive day on Monday to close above its crucial resistance level of 17,500. It formed a strong bullish candle on the daily charts, suggesting demand at lower levels.

Oil prices dip after industry data shows U.S. crude stockpiles rising

Oil prices edged lower on Wednesday, after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.

Tokyo shares open lower

Tokyo stocks opened lower on Wednesday, following overnight falls of Wall Street tech shares and with key US inflation data to be released later in the day. The benchmark Nikkei 225 index dropped 0.69 percent, or 193.49 points, to 27,806.47 in early trade, while the broader Topix index fell 0.53 percent, or 10.27 points, to 1,926.75.

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.

Rupee drops 39 paise to 79.63 against US dollar

The rupee depreciated by 39 paise to close at 79.63 against the US currency on Monday, pressured by dollar demand and waning risk appetite among investors.

Sensex, Nifty on Monday

The 30-share pack Sensex advanced 465.14 points or 0.80 per cent to close at 58,853.07. Its broader peer, Nifty50, added 127.60 points or 0.73 per cent to close comfortably above the 17,500 mark. The benchmark has managed to close above 17,500 for the first time since April 12, 2022.

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