Latest Stock Market News

>> For more such web stories click on the ET icon below

The Dow Jones Industrial Average rose 36.05 points, or 0.12%, at the open to 31,141.02. The S&P 500 opened higher by 8.04 points, or 0.20%, at 3,940.73, while the Nasdaq Composite gained 46.83 points, or 0.40%, to 11,680.41 at the opening bell.

However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared to USD 1,723.70 per ounce on Monday.Unlike gold, silver price in the national capital jumped Rs 760 to Rs 57,974 per kg. On Monday, the level was Rs 57,214 per kg.

The Nifty50 formed a bullish candle for the third consecutive day. Supertrend indicator also triggered buy on September 13, and the Golden Cross was recorded on September 9 on the daily charts.The market closed with cuts despite the pullback from crucial support placed at 17,800. A bounce back from lows suggests that bulls are not ready to give up just yet.

Bank Nifty continued to remain strong. On the daily chart, the index remained above the previous swing high. The momentum indicator RSI is in bullish crossover. Going forward, the trend is likely to remain positive as long as it remains above 41,000. On the higher end, the index may move towards 42,000.

For the quarter ended June 30, 2022, the company has reported a standalone total income of Rs 3262.85 crore, up 8.18 per cent from last quarter total income of Rs 3016.10 crore and up 33.13 per cent from last year same quarter total income of Rs 2450.94 crore.

CCI on Tuesday rejected a complaint against the proposed merger of multiplex chains PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe

“Childhood deaths were cut, agriculture productivity increased and women’s empowerment moves like digital bank accounts, particularly in India, were improving a lot before the pandemic. So we had a foundation of success. But the pandemic was a gigantic setback and now the war in Ukraine is having very negative effects worldwide.”

The higher-than-expected print has raised the prospect of more aggressive monetary policy tightening by the US Fed. Markets now expect the terminal Fed Funds rate to be 4.25 per cent. Markets are also attributing a 20 per cent chance of a 100 basis point hike in the policy next week, according to IFA Global Research Academy.

“I am not really looking at a case of the Nifty retesting 18,600 yet. I see more downside risk than upside. So apart from some short-term strength which we might continue to see because of the existing momentum, eventually we will align with what is happening in the world markets.”