Indian Shares Likely To Open On Positive Note

RTTNews | 770 gün önce

(RTTNews) - Indian shares are likely to open higher Wednesday morning, tracking positive global cues. U.S. stocks closed higher overnight on upbeat earnings news, and the major European markets gained as well, while Asian stocks are broadly higher today.

Stocks climbed higher on sustained inflow of foreign funds, and a positive lead from Wall Street where stocks closed higher on Monday amid expectations the Fed is nearing the end of its tightening cycle.

Sustained inflow of foreign funds and strong buying by domestic institutions lifted the Indian market to fresh record highs on Tuesday, and the undertone is likely to be firm again.

In earnings news, IndusInd Bank reported a net profit of Rs 2,124 crore for the quarter ended June 2023, up 32.5% compared to the year-ago quarter. The bank's gross non-performing assets ratio as a percentage of sales was 1.94% as of 30 June 2023, compared with 2.35% a year ago.

L&T Technology reported a 13% year-on-year increase in net profit at Rs 311.1 crore in the first quarter of the current financial year.

Bank of Maharashtra, Tata Coffee, Tata Communications, L&T Finance Holdings, Jubilant Pharma, and Alok Industries are among the companies slated to announce their quarterly results today.

After soaring to new all-time highs in early trades on Tuesday, Indian benchmark indices S&P BSE Sensex and the Nifty50 pared gains and briefly fell into the red around late morning on Tuesday, but recovered to post fresh closing highs after volatile swings.

The Sensex, which dropped to 66,574.47 after surging to 67,007.02, ended the session with a gain of 205.21 points or 0.31% at 66,795.14. The Nifty50 ended with a gain of 37.80 points or 0.19% at 19,749.25, after hitting a new intraday high of 19,819.45.

U.S. stocks rallied overnight with investors reacting positively to earnings news from big-name companies like Bank of America and Morgan Stanley.

The Dow jumped 1.1%, the Nasdaq advanced 0.8% and the S&P 500 climbed 0.7% on Tuesday.

Data showing a smaller than expeced increase in retail sales, and a dip in industrial production in the month of June added to recent optimism about the Fed nearing the end of its interest rate hiking cycle.

The major European markets all moved to the upside on Tuesday. While the U.K.'s FTSE 100 Index advanced by 0.6%, the French CAC 40 Index and the German DAX Index both climbed by 0.4%.

Malaysia Stock Market Expected To Open To The Upside On Wednesday

The Malaysia stock market on Tuesday wrote a finish to the three-day winning streak in which it had collected almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,580-point plateau although it's likely to rebound on Wednesday.

RTTNews | 25 dakika önce

Japan Stock Market May See Renewed Support

The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers. For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27. Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.

RTTNews | 40 dakika önce

Rebound Tipped For South Korea Stock Market

The South Korea stock market on Tuesday ended the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,180-point plateau although it may reverse those losses on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 55 dakika önce

Australia Construction Work Data Due On Wednesday

Australia will on Wednesday see Q2 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity.

RTTNews | 1s 55 dakika önce

U.S. Dollar Falls Against Majors

The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.

RTTNews | 3s 7 dakika önce

TSX Modestly Higher As Financials, Mining Stocks Move Up

Despite concerns about global trade, and political uncertainty in Europe, the Canadian market is modestly higher Tuesday afternoon, supported by gains in materials, industrials and financials sectors.

RTTNews | 5s 29 dakika önce

Swiss Market Settles Weak

After opening with a big negative gap Tuesday morning, the Swiss market gradually recovered some lost ground, and even managed a brief spell in positive territory midway through the session, but failed to sustain momentum and finally ended the day's session in the red.

RTTNews | 5s 46 dakika önce

European Stocks Close Lower On Political Concerns, Tariff Worries

European stocks closed weak on Tuesday, weighed down by political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.

RTTNews | 6s 10 dakika önce

EURUSD	1.16396	GBPUSD	1.34787	AUDUSD	0.64953
USDJPY	147.462	USDCAD	1.38334	USDCHF	0.80372