Share Market News: Latest updates.

Wall Street today: S&P 500, Dow Jones gain amid earnings reports.

Among sectoral indices, Nifty Consumer Durables was the top gainer, rising 1.1%, followed by Nifty Oil & Gas and Auto, which increased by 0.6% and 0.5%, respectively. On the losing side, Nifty FMCG was the top loser, down 1.1%, followed by Nifty Pharma, which fell 0.68%.

At closing, India's benchmark Sensex rose 0.12 percent or 99.56 points while Nifty settled at 24857.30, up 0.09 percent or 21.2 points. Intraday, the Sensex gained 459 points, while the Nifty jumped 136 points.

Indian markets erased most gains and closed flat, tracking mixed global equities ahead of key rate decisions from the Bank of Japan and the United States Federal Reserve this week.

At closing, India's benchmark Sensex rose 0.12 percent or 99.56 points while Nifty settled at 24857.30, up 0.09 percent or 21.2 points. Intraday, the Sensex gained 459 points, while the Nifty jumped 136 points.

Among sectoral indices, Nifty Consumer Durables was the top gainer, rising 1.1 percent, followed by Nifty Oil & Gas and Auto, which increased by 0.6 percent and 0.5 percent, respectively. On the losing side, Nifty FMCG was the top loser, down 1.1 percent, followed by Nifty Pharma, which fell 0.68 percent.

The domestic market ended flat, due to profit-booking at higher levels. However, the expectation of dovish comments from the US Fed and BoJ in the upcoming policy meetings this week is supporting the optimism. The investors will also closely monitor comments from the BoE and BoJ. The BOE is expected to lower rates due to rising unemployment and easing inflation, while the BOJ is likely to increase rates in response to surging inflation, potentially causing market volatility.

US Markets today 30July2024

Job openings stood at 8.18 million in June

Procter & Gamble (PG) drops on sales expectations miss

Merck (MRK) down after cutting annual profit forecast

Indexes: Dow up 0.37%, S&P down 0.55%, Nasdaq down 1.21%

The S&P 500 and Nasdaq stumbled on Tuesday, weighed down by weak chip and megacap shares ahead of earnings from heavyweight tech companies this week, but the Dow managed modest gains.

Microsoft (MSFT), seen by many as leading the artificial intelligence race, fell nearly 2% ahead of its quarterly results due after the closing bell.

Chipmaker Nvidia, expected to be a prime beneficiary of the AI growth potential and the year's second best S&P 500 performer, tumbled more than 6%, weighing on other chip stocks and dragging the Philadelphia semiconductor index down more than 3%.

Other megacap names such as Apple (AAPL), Amazon.com (AMZN) and Meta Platforms (META), all due to report earnings this week, also fell on growing concerns that the stocks might be overvalued.

"A lot of people are looking at artificial intelligence now and saying this is all great but I how do I make money on it," said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.

"Financially the companies are probably doing quite well, but the question is what are you paying for this? These are not cheap stocks and so you need to go into these things with your eyes open."

The Dow Jones Industrial Average rose 148.19 points, or 0.37%, to 40,687.35, the S&P 500 lost 29.82 points, or 0.55%, at 5,433.72 and the Nasdaq Composite fell 209.99 points, or 1.21%, to 17,160.21.

Small cap and value stocks such as financials outperformed the broader market to extend a recent rotation out of more expensive stocks as the market has solidified expectations the Federal Reserve will cut rates this year following signs of moderating inflation.

The S&P 500 financials index jumped 1.3% to lead gains among the 11 major S&P sectors while technology, down 1.7%, was the worst performer.

Megacap stocks fell on Tesla's disappointing results after Alphabet's higher expenditure forecast induced last week's broad-based market sell-off.

The market is betting on a slight chance that the Fed will cut rates by at least 25 basis points at the end of its policymaking meeting on Wednesday, but it is completely pricing in a cut for the U.S. central bank's September meeting, CME's FedWatch Tool showed.

Several labor data releases this week will culminate in Friday's government payrolls report. On Tuesday, a Job Openings and Labor Turnover Survey pointed to 8.18 million job openings in June, compared to economists' expectation of 8 million.

Among single stocks, Procter & Gamble (PG) tumbled almost 6% after missing fourth-quarter sales expectations.

Merck (MRK) plunged more than 9% after the drugmaker cut its annual profit forecast. CrowdStrike (CRWD) dropped nearly 11% after a report that Delta Air Lines (DAL) sought compensation from the cybersecurity firm and Microsoft (MSFT) for the global cyber outage earlier this month.

Cybersecurity and cloud services company F5 surged nearly 14% after forecasting fourth-quarter results above estimates.

Advancing issues outnumbered decliners by a 1.2-to-1 ratio on the NYSE, and by 1.35-to-1 on the Nasdaq.

The S&P 500 posted 65 new 52-week highs and one new low, while the Nasdaq Composite recorded 114 new highs and 113 new lows.

https://finance.yahoo.com/news/live/stock-market-news-today-stocks-soar-nvidia-surges-12-as-fed-powell-pave-way-for-september-rate-cut-134308845.html

Fed keeps interest rates unchanged.

Nifty 50 ended today's session with a drop of 1.7%, closing at 24,717 points, resulting in a weekly decline of 0.50%. This marks the first weekly drop for the index after eight consecutive weeks of gains, with 30 stocks ending the week in the red.

The longest weekly winning streak since 2010 came to an end this week as the Indian market faced significant selling pressure today. This downturn was influenced by a sell-off in global markets following fresh data from the US, which has reignited recession fears.

These concerns have resurfaced in the headlines for the first time since October 2022, adding to the market's volatility and uncertainty. Amid this backdrop, the Nifty 50 ended today's session with a drop of 1.7%, closing at 24,717 points, resulting in a weekly decline of 0.50%.

This marks the first weekly drop for the index after eight consecutive weeks of gains, with 30 stocks ending the week in the red.

Similarly, the Sensex ended its eight-week rally with a 0.43% decline, closing at 80,981 points. 20 constituents of the index have finished the week in the red.

Experts are warning that there is a much-needed correction in the near future.

Weekly round up--

Both indices reached new peaks during Thursday's trading session, with the Nifty 50 crossing the 25,000 mark for the first time to hit a record high of 25,078 points, while the Sensex surpassed the 82,000 mark, reaching a fresh peak of 82,129 points, following clarity on the much-anticipated Fed rate cut.

However, these gains were erased in today's trade after fresh US data released on Thursday showed the ISM manufacturing index, a key indicator of factory activity came lower at 46.8%, signaling an economic contraction and falling short of expectations.

Additionally, initial jobless claims rose the most since August 2023. Disappointing earnings from major tech companies also dampened market sentiment.

These weak data releases came after the Federal Reserve decided to keep rates at a 23-year high of 5.25%–5.50% for the 8th consecutive meeting in July 2024, in line with expectations, with Fed Chair Jerome Powell hinting at a possible rate cut in September.

Stock market today: Indian stock market benchmarks, the Sensex and the Nifty 50, crashed over 3 per cent each in intraday trade on Monday, August 5, mirroring the global trend after the US recession fears mounted and rising tensions in the Middle East kept investors on edge.

An across-the-board selloff hit the Sensex hard. The Sensex opened at 78,588.19 against its previous close of 80,981.95 and crashed 3.3 per cent to the level of 78,295.86. On the other hand, the Nifty 50 opened at 24,302.85 against its previous close of 24,717.70 and dropped 3.3 per cent to the level of 23,893.70.

Around 12:25 pm, the BSE Sensex was 2.87 per cent down at 78,661.08, while the Nifty 50 was 2.81 per cent down at 24,024.20. The BSE Midcap and Smallcap indices were down 4 per cent each at that time.

"The global market is reeling as bears enter with a cocktail of bad news. The initial catalyst was the fear of a reverse yen carry trade following an interest rate hike in Japan. This was compounded by fears of a recession in the USA after extremely poor job data, which spooked market sentiment. China and Europe are already grappling with slowdowns, and escalating geopolitical tensions are adding further pressure on the markets," said Santosh Meena.

https://www.livemint.com/market/stock-market-news/stock-market-today-sensex-nifty-50-crash-2-5-factors-why-the-indian-stock-market-is-falling-11722829437966.html

Sensex maintains over 750 pts lead; monthly SIPs cross Rs 23k crore for the first time.

Friday, August 9, 2024: Indian bourses saw heavy buying interest at open on Friday, as the benchmark Sensex surged 789 points to 79,675, while the Nifty50 climbed 0.98 per cent or 235 points to 24,352 levels.

The BSE Sensex saw only gainers with IT stocks taking the centre stage and the likes of Tech Mahindra, Infosys, TCS and HCL Tech gaining 2 per cent each.

Similarly, Eicher Motors, ONGC, Tata Motors and Tech Mahindra were on the leaderboard on the NSE, while HDFC Life was the only laggard.

The broader markets also showed strength, with the MidCap index soaring 0.89 per cent, while the SmallCap index surging by 0.90 per cent.

Sectorally all indices were trading in green with Nifty IT, Nifty Metal, Nifty Auto, and Nifty Oil and Gas leading the charts.

Here is important news, friends.

Hindenburg-Adani case: Benchmark Nifty-50 and S&P BSE Sensex that have seen volatility during last one week, on multiple concerns may see an impact on Monday as a knee Jerk reaction. Some correction in initial phases is not ruled out by market experts, as sentiments get impacted by fresh allegations of the US short seller firm against SEBI Chief Madhabi Puri Buch and her husband Dhaval getting roped into the case.

https://www.livemint.com/market/stock-market-news/hindenburgadani-case-market-may-see-a-knee-jerk-reaction-on-monday-post-fresh-allegations-against-sebi-chief-11723354157142.html

The positive is that the allegations by Hindenburg against the SEBI chief Madhabi Puri Buch and her husband Dhaval have been made on a weekend, when markets are closed, said an Head of retail Research at a domestic brokerage, on condition of anonymity. As per the HOR, a large part of any negative impact on investor sentiments may get diluted in more than a day since the allegations were made on Saturday night while market will open on the Monday morning Nevertheless there will definitely be some impact. The market will thereafter be watched, and how the noise is made by the opposition parties or various other such factors may be watched for said the expert.

The US-based short-seller said that Indian stock market regulator Sebi took no public action against Adani Group and instead sent the US-based short-seller a ‘showcause’ notice.