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Stock Market LIVE: Asian stocks hint at slow start; SGX crafty down

Stock Market LIVE: Asian stocks hint at slow start;  SGX crafty down

 


A much stronger than expected US jobs report on Friday raised the prospect of the Fed maintaining its aggressive monetary policy. This factor played a role in Wall Street finishing lower on Friday and Asian markets following suit. The Nikkei and Chinese indices opened in the red on Monday.

Aug 08 2022, 08:28:35 IST

Indian bond yields rose, following their US counterparts, sentiment remains weak

Indian government bond yields are expected to trade higher as deals open on Monday, extending gains fueled by the central bank’s interest rate hike and Friday’s hawkish comments, and following a surge in US Treasury yields.

The yield on the benchmark 10-year bond is expected to trade in a range of 7.32% to 7.38%, a trader at a private bank said. It closed 14 basis points higher at 7.3005% on Friday, posting the biggest single-day rise in three months.

Aug 08 2022, 08:18:26 IST

CIO, HPCL and BPCL post a loss of 18,480 cr in the first quarter on the holding of gasoline and diesel prices

State-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) recorded a combined loss of 18,480 crore on maintaining gasoline and diesel prices despite rising costs.

According to the stock market statements of the three fuel distributors, the losses are due to the erosion of the commercial margin on gasoline, diesel and domestic LPG.

This wiped out record refining margin gains. IOC, HPCL and BPCL, which are supposed to revise gasoline and diesel prices daily based on cost, have not changed their rates for four months now despite soaring international oil prices.

Aug 08 2022, 08:02:38 IST

Delta Corp among 3 stocks under F&O ban on NSE today

A total of three stocks were banned from trading on Monday August 8, 2022 in the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities were banned in the F&O segment because they crossed 95% of the market-wide position limit (MWPL), according to the NSE.

Auto stock Escorts remains on the exchange’s F&O ban list for today, while two more stocks Balrampur Chini and Delta Corp were added to the list on Monday. The NSE updates the list of securities in F&O ban for trading daily.

Aug 08 2022, 07:41:28 IST

New Indian carrier Akasa Air enters service with first flight on Mumbai-Ahmedabad route

Akasa Air is finally in Indian skies as the first flight took off on Sunday between the Mumbai-Ahmedabad route, which was inaugurated by Union Civil Aviation Minister Jyotiraditya M Scindia along with MoS General Vijay Kumar Singh (Ret.)

On July 22, the new Indian airline Akasa Air opened ticket reservations for its first commercial flights on Friday with a first network in Ahmedabad, Bengaluru, Mumbai and Kochi.

Aug 08 2022, 07:38:33 IST

New rules could end India’s bid to boost bond market

India’s plan to expand its corporate bond market is hitting an unexpected hurdle as the regulator plans to tighten control over trading platforms that make investing in corporate debt just a few clicks away.

Although the proposed framework is designed to protect investors and is therefore welcomed by some, a few of the Securities and Exchange Board of India’s (SEBI) proposals could actually prove counterproductive and hurt liquidity, according to experts who spoke to Bloomberg. Indeed, the sale of unlisted debt would be prohibited, platforms would not be allowed to sell privately placed corporate bonds to non-institutional investors shortly after their acquisition, and transactions would have to be settled via routes that are not commonly used today. (Full report)

08 Aug 2022, 07:30:41 IST

Tokyo markets open lower after recent gains

Shares in Tokyo opened lower on Monday after recent gains in Japanese markets and a slowdown in US tech stock prices.

The benchmark Nikkei 225 fell 0.33%, or 92.54 points, to 28,083.33 in early trading, while the broader Topix index lost 0.36%, or 6.94 points, at 1,940.23.

Aug 08 2022, 07:29:36 IST

Auto industry expects car sales in fast lane during holiday season

The auto industry expects car sales to be on the fast track this festive season thanks to new launches and improved production, but is cautiously optimistic about the road ahead once the festivities are over.

The festive season, which usually sees a surge in auto sales, begins this year on August 11 with Rakshabandhan extending until Diwali on October 25.

“We expect this year’s festive season to be the best in terms of passenger vehicle sales thanks to new launches and improved production activity. The industry rolled out more than 3 lakh units on average over the past 4-5 months which helps in retail,” FADA chairman Vinkesh Gulati of the car dealership body told PTI.

Aug 08 2022, 07:28:46 IST

NITI meeting: PM Modi urges states to focus on 3Ts and modernize agriculture sector

On Sunday, Prime Minister Narendra Modi advocated modernization of agriculture, livestock and food processing to help the country become self-sufficient and a world leader in the agricultural sector, although some states have demanded that the MSP mechanism be made more efficient. in the case of legumes and oilseeds.

The Prime Minister also asked states to focus on promoting the 3Ts – Trade, Tourism, Technology – with a view to reducing imports and increasing exports, an official statement said after the seventh meeting of the NITI Aayog Board of Directors.

Aug 08 2022, 07:27:26 IST

Wall Street stocks mostly tumble on Friday after U.S. job growth surges

Stock markets mostly fell on Friday as a much stronger-than-expected US jobs report raised the possibility that the Federal Reserve will maintain its aggressive monetary policy to fight inflation.

Official data released on Friday showed the US economy added 528,000 jobs, defying all expectations of a slowdown.

Friday’s data also showed U.S. wages jumped, adding to inflation concerns and likely pushing the Fed to aggressively hike rates again next month.

The Fed has previously said its decision will be guided by data.

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2/ https://www.livemint.com/market/live-blog/share-market-live-updates-sensex-nifty-bse-nse-stock-market-today-08-08-2022-11659919595569.html

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