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The market collapses, the Nifty slipping back into negative territory, early in the afternoon. At 12:18 pm IST, the barometer index, the Senbad SSE S & P index, was up 39.44 points or 0.11% to 36,412.88. The Nifty 50 index was down 2.45 points or 0.02% to 10,978. The Nifty traced back after touching the psychologically important mark of 11,000 by opening the trade.
Trading was volatile. After the superior opening, the market reached its lowest intraday level in the first exchanges. The market rebounded in the morning trade. The indexes reduced their earnings early in the afternoon, as profit taking reached higher levels.
Overseas, most Asian stocks declined. Japan recorded a trade surplus in June, following a deficit the previous month, official figures said Thursday as exports rose despite persistent international trade tensions. Ministry of Finance data showed a surplus of 721.4 billion yen ($ 6.4 billion), up 66.5 percent from the previous year. Japan's exports grew by 6.7% while imports also rose by 2.5%, according to the data.
US stocks ended mostly Wednesday higher as an anecdotal account of the state of affairs in the 12 districts of the Federal Reserve painted an optimistic picture of the national economy. The Fed's Beige Book revealed a domestic economy that has developed rapidly, but no longer has enough room to grow much faster, with shortages of skilled workers and rising costs of commodities at risk. to hinder another phase of expansion. The anecdotal account of the state of affairs in the 12 districts of the Fed showed that 11 regions of the country were experiencing "modest" or even faster growth. Only states around St. Louis reported "slight" growth.
Meanwhile, Federal Reserve Chairman Jerome Powell appeared before the House Financial Services Committee on Wednesday, July 18, 2018, to answer legislators' questions about the Fed's plans. Powell was also questioned on Tuesday.
Testifying Wednesday before the Financial Services Committee of the House of Representatives, Mr. Powell pointed to the desire of the US central bank to further raise its rates this year and said that he only saw few signs of an economic recession on the horizon.
With regard to US data, housing starts in June fell 12.3% due to a decline in May and 3% compared to the same period last year. last year.
Among the secondary barometers in the country, the BSE Mid-Cap index was down 0.30%. The BSE Small Cap index lost 0.67%. Both indices underperformed the Senbad.
The magnitude of the market, indicating the overall health of the market, was low. On the BSE, 785 shares rose and 1492 shares fell. A total of 108 shares were unchanged.
Cement shares decreased. ACC (-1.99%), Ambuja Cements (-1.63%) and UltraTech Cement (-0.25%) fell slightly.
Grasim Industries was down 0.3%. Grasim is exposed to the cement industry through its participation in UltraTech Cement.
Telecom shares were mixed. Bharti Airtel (+ 2.38%), Idea Cellular (+ 0.30%) and Tata Teleservices (Maharashtra) (+ 0.25%) increased slightly. MTNL (down 1.34%) and Reliance Communications (down 1.53%) declined slightly.
Bharti Infratel, telecommunications tower facilities provider, lost 4.59%.
IT main Infosys was down 0.40%. The company announced today, July 19, 2018, that its philanthropic arm, Infosys Foundation, has signed a memorandum of understanding with the Bangalore Metro Rail Corporation (BMRCL) for the construction of. a station in Konappana Agrahara, in Electronics City. . This station is under the second phase of Bangalore Metro's expansion plans and the Foundation is committed to maintaining this station for the next 30 years.
Produced by Capital Market – Live News
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