Sensex, Nifty Rebound After Weak Start; RIL Shines

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(RTTNews) - After opening with a negative gap, Indian shares have climbed higher Monday morning, with several stocks, including index heavyweight Reliance Industries, moving up on strong buying interest.

The lead from Asian markets is weak with several markets in the region posting losses due to concerns over the growing unrest in China amid the zero-Covid policy with record high daily cases and the unprecedented restrictions in several cities in the country.

The benchmark BSE Sensex is up 119.34 points or 0.19 percent at 62,412.98. The index, which opened with a negative gap of nearly 280 points at 62,016.35, climbed to 62,484.66 before paring some gains.

The broader Nifty index of the National Stock Exchange, which dropped to 18,365.60 and rallied to 18,558.95 subsequently, is up 30.40 points or 0.16 percent at 18,543.15.

Reliance Industries is gaining 1.8 percent. Bajaj Finserv is up 1.3 percent and Bajaj Finance is up nearly 1 percent. Asian Paints, Axis Bank, Infosys, Kotak Bank, UltraTech Cement and Maruti Suuzki are up 0.5 to 0.8 percent.

BPCL is gaining 3.3 percent, topping the list of gainers in the Nifty index. Hero Motocorp is up 2.2 percent after the company said it will hike the prices of its two-wheelers by up to Rs 1,500 effective from December 1.

Bajaj Auto is up 1.3 percent, and SBI Life is rising 1.8 percent. Divi's Laboratories, Tata Motors and Wipro are up with modest gains.

HDFC, HDFC Bank, Tata Steel and State Bank of India are down 0.8 to 1.4 percent.

Hindalco is declining 2.2 percent. Apollo Hospitals Enterprises, JSW Steel and Tata Steel are down 1.7 percent, 1.4 percent, and 1.1 percent, respectively.

Va Tech Wabag shares are up nearly 4 percent after the company said it has signed an agreement with Asian Development Bank for raising Rs 200 crore through unlisted non-convertible debentures.

Indian Oil Corporation announced it has raised Rs 2,500 crore by issuing 25,000 non-convertible debentures of Rs 10 lakh each on private placement basis. The company plans to utilise the funds for refinancing existing borrowing or funding capital expenditure. The stock is up by about 2.5 percent.

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

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German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

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U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

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U.S. Consumer Prices Increase In Line With Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June.

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Bay Street Looks Headed For Positive Start

Canadian shares look headed for a positive start Thursday morning, with investor sentiment getting a boost thanks to strong results from US tech majors Meta Platforms and Microsoft.

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U.S. Weekly Jobless Claims Inch Up Less Than Expected

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday.

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FTSE 100 Modestly Higher; Rolls-Royce Holdings, Rentokil Shares Soar

The UK stock market is up in positive territory Thursday afternoon, riding on some strong earnings and guidance updates from big name companies. Investors are also reacting to the latest developments on the tariff front.

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Eurozone Jobless Rate Unchanged At 6.2%

The euro area unemployment rate remained stable in June despite slowing economic growth and challenging global trade situation, official data revealed on Thursday. The jobless rate came in at seasonally adjusted 6.2 percent, the same rate as seen in May and down from 6.4 percent in the same period last year, Eurostat said Thursday.

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EURUSD	1.14473	GBPUSD	1.32354	AUDUSD	0.64332
USDJPY	150.402	USDCAD	1.38392	USDCHF	0.8115

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Sensex, Nifty Rebound After Weak Start; RIL Shines