Indian Shares Look Headed For Positive Start

RTTNews | hace 1124

(RTTNews) - Sharply higher SGX Nifty points to a firm start for Indian shares on Friday. The overnight gains on Wall Street and easing concerns about aggressive rate hikes by the Federal Reserve might help keep investor sentiment positive.

Investors will be reacting to a slew of earnings updates from Indian companies. HDFC, Sun Pharmaceuticals Industries, Cipla NTPC, Indian Oil Corporation, Ashok Leyland and DLF are some of the companies scheduled to announce their quarterly results today.

Dr Reddy's Laboratories Ltd. has reported a 108 percent (YoY) jump in consolidated profit at Rs 1,187.60 crore for the quarter ended June 2022.

TVS Motor Company reported consolidated profit of Rs 296.75 crore for the April-June quarter, as against a loss of Rs 14.72 crore in the year-ago quarter.

Punjab National Bank said its standalone net profit dropped by 70 percent in the June quarter, compared to a year ago.

Indian shares rallied on Thursday after the U.S. Federal Reserve announced a 75-bps rate hike, as widely expected, and indicated that it may be appropriate to slow the pace of increases going forward amid concerns over a possible recession.

The benchmark S&P BSE Sensex soared 1,041.47 points, or 1.87 percent, to 56,857.79 while the broader NSE Nifty index closed up 287.80 points, or 1.73 percent, at 16,929.60.

European stocks closed higher overnight after Fed Chief Powell hinted at a slowdown in the pace of rate hikes at future meetings.

U.S. stocks recovered from early weakness to close on a strong note overnight as weak GDP data added to optimism that the Fed will slow the pace of its interest rate hikes at future meetings.

The Dow gained 1 percent, while the Nasdaq and the S&P 500 advanced 1.1 percent and 1.2 percent, respectively.

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | hace 18 minutos

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | hace 48 minutos

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 17min

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 48min

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | hace 2h 3min

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 2h 18min

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | hace 3h 18min

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | hace 4h 30min

EURUSD	1.16379	GBPUSD	1.34709	AUDUSD	0.64872
USDJPY	147.329	USDCAD	1.38509	USDCHF	0.80439