Stock Market Live Updates: SGX Nifty signals a positive start; Asian stocks trade mixed

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Aurobindo Pharma Limited is pleased to announce that its wholly owned subsidiary company, Eugia Pharma Specialties Limited, has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Vasopressin Injection USP, 20 Units/mL Multiple-Dose Vials.

Price as on 16 Aug, 2022 09:27 AM, Click on company names for their live prices.

The surprise rate cut in China when the rest of the world is hiking rates is an indication of the sharp growth slowdown in China triggered by the widespread Covid lockdowns and woes of the property market. With other BRICS economies like Brazil and South Africa struggling and Russia expected to contract by 9% this year, India stands out with an expected growth rate of 7.2% in FY 23. Steady decline in CPI inflation ( 6.7% in July), Brent crude falling to $94 and steady buying by FIIs augur well for the markets. However, high valuations are a concern. While remaining invested, investors must exercise caution chasing this rally.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Tata Steel, ONGC, Yes Bank among most active stocks on NSE

Price as on 16 Aug, 2022 09:18 AM, Click on company names for their live prices.

OPENING BELL: Sensex rises 300 points, Nifty hits 17,800; Sun TV gains 4%, Adani Power 3%


  • Gaining share in food delivery, better profitability outlook
  • Zomato is our best idea for the third quarter of 2022
  • Zomato delivered a robust performance in the recent quarter
  • Overall with strong MTU growth (+1 Mn QoQ), take rate expansion
  • Zomato’s GOV growth accelerated gaining market share
  • Profitability is expected by Q2FY24
  • Zomato valuation at 0.9x FY24 EV/GMV has reduced with respect to global peers
  • (Source: ET NOW)

JUST IN: KEC International has secured new orders of Rs 1,313 crore cross its various businesses

Asian stocks drift, oil slumps on recession fears

Asian markets struggled for direction on Tuesday, weighed by worries over global growth following weak China data that knocked oil prices and commodity-linked currencies. The dollar held near a one-week high as investors piled back into the safe-haven currency, while the Aussie, euro and Chinese yuan buckled.

Quarterly earnings today

Future Lifestyle Fashions, Shri Venkatesh Refineries and Shree Hanuman Sugar & Industries are among companies that will announce their quarterly earnings today.

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 50.5 points, or 0.28 per cent, higher at 17,835.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Tech View: Nifty50 gains for fifth day; strong resistance ahead

Nifty50 on Friday climbed for the fifth straight day. The index formed a small bullish candle on the daily chart and a long bullish candle on the weekly chart, the fourth in a row. Analysts said the bulls need to be cautious at this juncture and felt profit booking at higher levels couldn’t be ruled out.

Oil prices fall as recessionary worries weigh on demand outlook

Oil prices fell on Tuesday, extending losses from the previous session, after economic data from China, the world’s largest crude importer, spurred fresh concerns about a potential global recession that could hit energy demand. Brent crude futures fell 90 cents, or 1%, to $94.20 a barrel by 00:03 GMT. WTI crude futures fell 81 cents, or 0.9%, to $88.60 a barrel.

Tokyo shares open lower

Tokyo shares opened lower Tuesday as investors searched for fresh clues ahead of a key international meeting of central banks. The benchmark Nikkei 225 index slipped 0.17 percent, or 48.10 points, to 28,823.68 in early trade, while the broader Topix index fell 0.23 percent, or 4.61 points, to 1,980.35.

Wall Street climbs, adding to recent gains as megacaps rise

U.S. stocks rose on Monday with megacap growth shares, extending the market’s recent rally amid investor optimism the Federal Reserve can achieve a soft landing for the economy. Shares of Apple Inc climbed 0.6%, while Microsoft Corp rose 0.5% and Tesla Inc jumped 3.1%.

Rupee declines 12 paise to 79.74 on strong dollar demand from importers

The rupee declined by 12 paise to close at 79.74 against the US dollar on Friday, tracking a strong American currency in the overseas market and rising crude oil prices.

Sensex, Nifty on Friday

The 30-share pack Sensex advanced 130.18 points to close at 59,462.78. Its broader peer, Nifty50, added 39.15 points to close above near the 17,700 mark. The benchmark rose 1.5 per cent this week.

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