OPEN APP
Home >Markets >Live Blog >Sensex closes flat, Nifty at 15,693; IT, metals drag; realty gains

Sensex closes flat, Nifty at 15,693; IT, metals drag; realty gains

Market closing: Indian indices closed flat on Monday.Premium
Market closing: Indian indices closed flat on Monday.

  • Market closing: The Sensex closed at 52,372.69, down 13.50 points, or 0.03%, while the Nifty was at 15,692.60, up 2.80 points, or 0.02%. IT, metals were top drags. Realty, banks were in green.

Indian indices closed almost flat on Monday. All eyes will be on the CPI inflation figures due later today. Asian stocks were mixed at close, wtih Chinese markets closing higher after the country's central bank cut key rates.

12 Jul 2021, 03:40:31 PM IST

Market closing

The Sensex closed at 52,372.69, down 13.50 points, or 0.03%, while the Nifty was at 15,692.60, up 2.80 points, or 0.02%. IT, metals were top drags. Realty, banks were in green. On the 30-share Sensex, Ultratech, ICICI Bank, SBI, and 14 other shares closed in green, while Tata Steel, Bharti Airtel, Infosys, and 10 other stocks closed in red.

Sensex at close
View Full Image
Sensex at close
12 Jul 2021, 03:28:40 PM IST

Yash Gupta, equity research associate, Angel Broking on Tatva Chintan Pharma IPO

"Gujarat based Tatva Chintan Pharma has received Sebi's approval for the 450 crores IPO consisting of fresh issue of 225 crores and offer for sale of 225 crores by existing shareholders. Company will utilise a fresh issue of 225 crores to fund its capex plans like Dahej manufacturing plant and upgrade its R&D Vadodara facility. Company has been promoted by Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah and Snehkar Rasiklal Somani. Company exports its products to more than 25 countries that includes USA,UK, China etc and 75% of the revenue comes from the Export market. The company is manufacturer of chestructure directing agents (SDAs), phase transfer catalyst (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals. They are one of the largest manufacturers of SDAs for zeolites in India. Company sells its products to customers like Merck, Bayer, SRF Ltd, Divis labs etc. IPO expected to come in July 2021, we have a positive outlook towards the Tatva Chintan Pharma Limited IPO."



12 Jul 2021, 03:19:08 PM IST

Palm oil prices rise in India even after import duty cut

Palm oil prices in India have risen more than 6% even after the government cut import tax and allowed shipments of refined palm oil as its price overseas jumped in anticipation of strong demand from the world's biggest buyer, industry officials said. Higher palm oil prices could weigh on Indian demand and may prompt the government to refrain from cutting import taxes further as the price rise highlighted the limitation of duty reduction. (Reuters)

12 Jul 2021, 03:16:27 PM IST

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance.

“Indian markets started on a positive note following positive Asian market peers with Japan and China markets trading higher as China’s central bank announced Friday a 50 basis points cut in its reserve requirement ratio for all banks. During the afternoon session markets maintained their upward momentum following gains in realty, basic materials and metal stocks. Healthy buying was observed in blue-chip stocks like Ultratech Cement, ICICI Bank and SBI. However, during the closing session markets lost their gains and traded in red as traders were looking to book profits with lacklustre European markets opening and volatility ahead of the start of the earnings season in US."

12 Jul 2021, 02:58:54 PM IST

Sensex heatmap

UltraTech, ICICI Bank, SBI lead gains
View Full Image
UltraTech, ICICI Bank, SBI lead gains
12 Jul 2021, 02:47:46 PM IST

Edtech platform Oliveboard raises ₹23 cr led by IAN Fund

Oliveboard, an edtech platform focused on competitive exams, has raised pre-Series A funding of 23 crore led by Indian Angel Network (IAN) Fund with participation from Education Catalyst Fund (ECF) and Yukti Securities, the company said in a statement on Monday.

12 Jul 2021, 02:31:24 PM IST

Ashok Leyland leads gains

Nifty auto index
View Full Image
Nifty auto index
12 Jul 2021, 02:17:30 PM IST

Given approval to set up small finance bank to take over PMC Bank: RBI to HC

The Reserve Bank of India (RBI) Monday told the Delhi High Court that it has given in-principle approval for setting up a small finance bank which will take over the scam-hit PMC Bank soon. A bench of Justices D N Patel and Justice Jyoti Singh granted time to the RBI to file an affidavit on the development in the matter and listed the case for further hearing on August 20. Senior advocate Jayant Bhushan, representing the RBI, submitted that it has given in-principle approval to Centrum Finance Services Ltd to set up a small finance bank which will take over Punjab and Maharashtra Cooperative (PMC) Bank very soon as the process in near completion.

12 Jul 2021, 02:08:37 PM IST

RIL, ICICI Bank drive gains

Index contribution
View Full Image
Index contribution
12 Jul 2021, 01:54:34 PM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on crude oil

"WTI crude prices rose over 2.2% in the week gone by as lack of clarity on Opec’s production stance in the months ahead weighed on the market sentiments. The oil exporting group failed to reach an agreement to raise supply in order to meet rising global demand after Saudi Arabia, the de facto leader of the group, and UAE were unable to strike a deal.

Also, worries over tighter pandemic led curbs in many regions of Asia, Australia and Europe following the increase in the Delta variant cases further pressured Crude Oil prices. The losses for Crude were limited as US Crude inventory plunged over 6.9 million barrels in the earlier week surpassing the market expectation of a 4-million-barrel decline, data as per the Energy Information Administration."

12 Jul 2021, 01:46:34 PM IST

Amarjeet Maurya - AVP - Mid Caps, Angel Broking on Maruti Suzuki price hike

"Maruti Suzuki India Limited announced a price change for Swift and all CNG variants owing to increase in various input costs. Increase in Ex Showroom Prices (Delhi) is up to 15,000 on the above models. The new prices are effective from today, i.e., 12 July. We believe that this is a positive development for the company and it will keep operating margin stable. We are positive on company."

12 Jul 2021, 01:31:37 PM IST

Realty leads

Nifty sectoral indices
View Full Image
Nifty sectoral indices
12 Jul 2021, 01:26:17 PM IST

Paytm parent gets shareholders' nod for IPO; Vijay Shekhar Sharma to delist as promoter

Paytm’s parent company One97 Communications has received shareholders’ approval to raise 12,000 crore via a fresh issue of shares, clearing the way for its IPO, moneycontrol.com reported. The issue will also have a secondary, where existing shareholders will sell their shares, which brings the total amount to 16,600 crore. The company got the shareholders’ nod for Paytm founder and CEO Vijay Shekhar Sharma to be declassified as promoter, since he he does not own the minimum 20% needed in the firm. Sharma will continue to be the chairman, managing director and chief executive officer of the company.

12 Jul 2021, 01:04:24 PM IST

Restructured book of non-bank financiers to double in March 2022, says Icra

The restructured book of non-bank financial companies (NBFCs) and housing finance companies (HFCs) is expected to double to 3.1-3.3% of their assets in March 2022 from 1.6% in March 2021, rating agency Icra said. (Read here)

12 Jul 2021, 01:01:33 PM IST

Adani group hits 100 bn m-cap, a first for a first generation Indian company: Chairman

In the first week of financial year (FY) 2021-2022, Adani Group crossed $100 billion in market capitalisation, said chairman Gautam Adani on Monday.

Virtually addressing the firm's shareholders at Annual General Meeting 2021, he noted that this 'milestone' is a first for a first-generation Indian company.

"The performance of our listed entities propelled our portfolio to cross 100 billion dollars in market capitalisation in the very first week of this new financial year. This valuation milestone is a first for a first-generation Indian company," he said. (Read here)

12 Jul 2021, 12:50:01 PM IST

SoftBank eyeing stake in Apollo HealthCo: report

SoftbBank is in talks with Apollo Hospitals Enterprise for stake in Apollo HealthCo, Hindu Business Line reported citing people familiar with the matter. Apollo is eyeing a 25% stake sale in the new entity Apollo HealthCo which houses its offline pharmacy business and Apollo 24/7 among other businesses.

12 Jul 2021, 12:42:58 PM IST

Indiabulls RE, Oberoi Realty top gainers

Nifty realty index
View Full Image
Nifty realty index
12 Jul 2021, 12:30:54 PM IST

Bank index gains

Nifty sectoral indices
View Full Image
Nifty sectoral indices
12 Jul 2021, 12:29:00 PM IST

Yash Gupta, equity research associate, Angel Broking

"Today the S&P BSE Realty index is up by 3.58% and is up by more than 10% in July. Real-estate sector broke its 10-year high of 2,895 in March 2011. We have seen a good turnaround from real-estate sectors after the hit from the covid-19 pandemic in 2020. Some of the stocks like Oberoi realty, Brigade, Godrej Property have reported better than expected pre-sales numbers in 2nd half of 2021 on back of pent-up demand in the sector. We expect that Q1FY22 will not be as good as the last quarter due to the state wise lockdown, but the long-term story of the real-estate market has been maintained. Real-estate has seen a down cycle of more than five years due to RERA implementation, demonetization, credit issues and then the pandemic. All these issues hit the unorganized market adversely and day by day, the unorganized players are losing market share in new launch property. Along with this, change in customer preference for ready to move property and brand loyalty are very favorable for the listed real-estate players. We expect the real-estate sector to outperform and this may be a start of a new upcycle in the real-estate sector after consolidation in the last 10 years. We have a buy call on Godrej Property with the target price of 1,700."


12 Jul 2021, 12:22:50 PM IST

Gold prices today fall for second time in 3 days, silver rates drop

Gold prices in India fell for the second time in three days amid weak global cues. On MCX, gold futures were down 0.46% to 47,702 per 10 gram while silver rates declined 0.4% to 69,014. Despite the recent decline, gold rates in India remain about 1,200 per gram higher so far this month. (Read here)

12 Jul 2021, 12:21:54 PM IST

Ola Electric signs $100 million long-term loan with Bank of Baroda

Ola Electric Mobility Pvt Ltd on Monday said it has signed a long-term debt finance agreement with Bank of Baroda to raise $100 million for the funding and financial closure of Phase 1 of its electric two-wheeler factory in Hosur, Tamil Nadu. (Read here)

12 Jul 2021, 12:21:54 PM IST

Zydus Cadila's Covid-19 vaccine approval likely in next few days: Report

Gujarat-based pharmaceutical major Zydus Cadila's covid-19 vaccine may not be available soon as emergency approval from the country’s top drug regulator is likely to take a few more days, according to ANI sources. (Read here)

12 Jul 2021, 12:13:03 PM IST

Equitas, Ujjivan shares rally on hopes of RBI nod for merger with SFBs

Shares of Equitas Holdings Ltd and Ujjivan Financial Services Ltd rallied 17% and 20% respectively on Monday in early trading deals on the National Stock Exchange. Reserve Bank of India (RBI) has permitted Small Finance Banks (SFBs) to apply for a reverse merger process with their holding companies upon five years after commencement of business. This development is positive for both the above-mentioned companies, which are the promoters of Equitas Small Financial Bank Ltd and Ujjivan Small Finance Bank Ltd, respectively.

12 Jul 2021, 11:58:22 AM IST

Sovereign gold bonds open for subscription

The fourth tranche of sovereign gold bond of this fiscal opened for subscription today. The issue price has been fixed at 4,807 per gram of gold while those who apply and invest online get a discount of 50 per gram. Sovereign Gold Bond Scheme 2021-22 - Series IV or the fourth tranche closes for subscription on Friday (July 16th). Gold bonds offer an annual interest rate of 2.50% to investors. (Read here)

12 Jul 2021, 11:57:33 AM IST

Essar Shipping deploys 2 handysize vessels for rice exports to Bangladesh

Essar Shipping Ltd has deployed two of its handysize vessels Tvisha and Tuhina weighing 13,000 DWT for exports of rice from India to Bangladesh under the recent bilateral trade agreement. Bangladesh will buy 150,000 tonnes of rice from India, under the agreement. The company's stock was trading at 11.76 apiece, up 4.26% at 11:57 am.

12 Jul 2021, 11:52:13 AM IST

Flipkart to raise funding at $40 billion valuation

Flipkart has completed a fundraising round valuing the Indian online retailer at about $40 billion, with main owner Walmart Inc. joining investors including SoftBank Group Corp. in injecting almost $4 billion, people familiar with the matter said. (Read here)

12 Jul 2021, 11:43:34 AM IST

Top gainers at this hour

Nifty top gainers
View Full Image
Nifty top gainers
12 Jul 2021, 11:42:05 AM IST

Swiggy elevates Phani Kishan to co-founder role

Swiggy has elevated Phani Kishan, vice president Strategy & Investments, to co-founder status, the food delivery startup said in an update on its website.

12 Jul 2021, 11:08:09 AM IST

Amazon restores service after global outage

Amazon.com Inc said its online stores had returned to normal services after a global outage disrupted shopping on its country sites. According to outage monitoring website Downdetector, services were disrupted for nearly two hours and at the peak of the disruption, more than 38,000 user reports indicated issues with Amazon's online stores. They occurred on Sunday evening in the United States and Monday morning for much of the rest of the world. "Some customers may have temporarily experienced issues while shopping. We have resolved the issue, and everything is now running smoothly," an Amazon spokesperson said. The spokesperson declined to comment on the reason for the outage.

12 Jul 2021, 11:08:09 AM IST

Cyient to digitize land records for HM Land Registry in UK

Her Majesty’s Land Registry, a non ministerial department of the UK government, has selected Cyient to support its Local Land Charges (LLC) Programme which will involve digitize and migrate millions of separately held local and charge records from local authorities into a centralized digital register.

12 Jul 2021, 10:59:29 AM IST

In a first in three months, diesel prices cut by OMCs

Diesel prices were cut by 16 paise per litre on Monday for the first time in three months in the backdrop of transportation fuel prices being on an upward trajectory. However, state run oil marketing companies (OMCs) increased petrol prices by 28 paise per litre on Monday. Petrol and diesel were selling at 101.19 per litre and 89.72 per litre respectively in Delhi at Indian Oil Corporation Ltd’ outlets. Petrol prices have crossed 100 mark in all major metros.

12 Jul 2021, 10:54:56 AM IST

Cabinet may have cleared plans for LIC IPO: report

The initial public offer (IPO) plan for Life Insurance Corporation (LIC) may have been cleared by the Cabinet Committee for Economic Affairs (CCEA), CNBC-TV18 reported, citing people with knowledge of the matter.

12 Jul 2021, 10:51:22 AM IST

Angel Broking maintains 'buy' on Federal Bank

"Federal Bank is one of India’s largest old generation private sector banks with total assets of 1.9 lakh crore with deposits of 1.56 lakh cr. and a loan book of 1.2 lakh cr in F21. NPAs have remained steady for the bank over the past few years with GNPA for Q3FY21 at 3.38% while NNPA ratio stood at 1.14%. PCR at the end of Q3FY21 stood at ~67% which we believe is adequate. Restructuring book is expected to be at 1,500-1,600 crore out of which 1,067 crore has already been restructured. This is against earlier expectations of total restructuring of 3,000-3,500 crore."

12 Jul 2021, 10:46:48 AM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on gold

"Spot gold ended the week with gains of 0.9% while MCX Gold prices rose over 1.3% as the benchmark US Treasury Yield retreated during the week, lowering the opportunity cost of holding the bullion metal. The minutes of the US Federal Reserve policy meet last month indicated towards a sooner than expected tapering of the asset purchase program. Despite mounting inflation worries, a relatively high unemployment figures still remained a major concern for the Fed. However, no further hints on tightening of the monetary policy undermined the US Dollar and treasury yield. Soaring number of Delta variant covid-19 cases ignited worries over extension of lockdown in major economies and derailing the global recovery which further supported the safe haven asset, gold."

12 Jul 2021, 10:32:25 AM IST

Equitas SFB gains

Equitas SFB's stock was trading at 73.20 apiece, up 12.44% at 10:31 am. Equitas Holding, the promoter of Equitas Small Finance Bank said the Reserve Bank of India has allowed it to file for a scheme of amalgamation of the promoter entity with the bank.

12 Jul 2021, 10:27:10 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on Nifty trajectory

"The Nifty has bounced from Friday's low and is once again trading around the mid point of the range which is between 15,400-15,900. If we can scale higher and get past 15,900, we should be able to achieve 16,100. Until then trading is going to be lackluster with tepid volumes."

12 Jul 2021, 10:25:34 AM IST

EPFO likely to invest part of its corpus in InvITs

Retirement fund manager Employees’ Provident Fund Organisation (EPFO) may start investing a portion of its annual deposits in infrastructure investment trusts (InvITs). The move could not only help India boost investments in infrastructure but also expand the scope of EPFO’s investment basket beyond bonds, government securities, and exchange-traded funds (ETFs), two government officials said, requesting anonymity. (Read here)

12 Jul 2021, 10:02:35 AM IST

Amul wins copyright violation case in Canada

Amul has been awarded damages worth Canadian $ 32,733 (approximately 19.5 lakh) by the Federal Court of Canada in a copyright violation case. Kaira District Co-operative Milk Producers’ Union Ltd and and Gujarat Cooperative Milk Marketing Federation Ltd had alleged breach of trademark and copyright in Canada by Amul Canada. The page mentioned Mohit Rana, Akash Ghosh, Chandu Das, and Patel Patel as its employees. “Kaira is the registered owner of Canadian Trademark Registration No. TMA877339, registered on May 7, 2014, for the trademark AMUL, which has been used in Canada since June 30, 2020, in association with the goods ‘milk products’," the court said in its judgment. This is the first case of its kind brought by Amul against any party on foreign soil, according to media reports.

12 Jul 2021, 10:02:35 AM IST

Large banks fight for a slice of their customers’ shopping pie

Banks are sprucing up their mobile apps with virtual marketplaces of discounted products and services, in order to retain them and in the process gain insights into their shopping preferences. Banks such as Kotak Mahindra Bank, ICICI Bank, Axis Bank and State Bank of India (SBI) already offer such features, some of them providing them through internet banking as well.

12 Jul 2021, 09:45:06 AM IST

Maruti Swift, CNG variants become ₹15,000 costlier

Maruti Suzuki India Ltd has hiked prices of Swift and CNG variants effective 12 July owing to increase in various input costs, it said in a regulatory filing. Increase in ex showroom prices in Delhi is up to 15,000. “The price increase in other models is planned shortly and shall be intimated accordingly," the company said. (Read here)

12 Jul 2021, 09:37:03 AM IST

India reports 37,154 news covid cases

12 Jul 2021, 09:34:20 AM IST

DMart’s Q1FY22 gross margin at multi-year lows disappoints; stock valuations rich

Avenue Supermarts Ltd, which runs the DMart chain of stores, announced its June quarter (Q1FY22) results on Saturday. The quarter’s gross margins are a sore point, contracting by 129 basis points year-on-year to 12.4%. One basis point is one-hundredth of a percentage point. “DMart surprised negatively with a 22-quarter low gross margin," said analysts from Jefferies India Pvt. Ltd in a report on 10 July.

12 Jul 2021, 09:29:15 AM IST

Market opening

Benchmark Indian equity indices opened higher on Monday. The Sensex opened at 52,634.33, up 248.14 points, or 0.47%, while the Nifty was at 15,766.80, up 77. points or 0.49%. Broader indices witnessed a strong opening on Monday.

Sensex at open
View Full Image
Sensex at open
12 Jul 2021, 09:15:50 AM IST

Amazon services down for multiple users - Downdetector

Amazon.com Inc's platforms, including its online store site and Amazon Web Services, were down for multiple users late Sunday, according to outage monitoring website Downdetector. More than 37,000 user reports had indicated issues with Amazon's online store site, while about 280 users reported problems with the Amazon Web Services, according to Downdetector. The issue affecting the sites was not immediately clear. Amazon did not immediately respond to a Reuters request for comment. (Reuters)

12 Jul 2021, 09:12:25 AM IST

Market pre opening

The Sensex was at 52,634.33, up 248.14 points, or 0.47%, while the Nifty was at 15,766.80, up 77.00 points, or 0.49%.

12 Jul 2021, 09:00:18 AM IST

Hatsun Agro announces operationalisation of new facility

The company will start commercial production of milk at its Uthiyur Plant in Tamil Nadu, it said in its regulatory filing. The plant has a milk handling capacity of 3.5 LLPD.

12 Jul 2021, 08:54:26 AM IST

India wants rich countries to pay more for green energy shift

India can’t prioritize eliminating greenhouse gas emissions without sufficient financing from richer nations to help offset the high cost of transitioning to clean energy, according to a senior government official. In laying out its position ahead of key global climate talks later this year, the top bureaucrat in India’s environment ministry also said the country doesn’t plan to tighten its emissions goals unless more money is promised from developed economies under the United Nations-sponsored climate change agreement. (Bloomberg)

12 Jul 2021, 08:47:52 AM IST

Tanla Platforms plans share buyback

Cloud communications company Tanla Platforms is planning a share buyback. The company's board will meet 22 July to consider the proposal, it said in a regulatory filing.

12 Jul 2021, 08:42:02 AM IST

In a first, state-owned LIC may invest in Zomato’s public offer

In a rare move, state-owned Life Insurance Corp. of India (LIC) is weighing a bid for Zomato’s shares in the online food delivery platform’s initial public offering this week, two people directly aware of the matter said. (Read here)

12 Jul 2021, 08:38:00 AM IST

Granules India denies reports of company being sold to PE investors

Pharmaceutical company Granules India on Monday said that the reports of the company being sold to some PE (private equity) investors that were floating in social media are 'false and malicious'. The management remains committed to the growth of the company, it said. (Read here)

12 Jul 2021, 08:31:34 AM IST

Centre seeks legal opinion to let BPCL sell subsidised LPG after stake sale

A two-decade-old LPG supply order restricting supply of domestically produced LPG to only state-owned oil companies has stymied plans to allow Bharat Petroleum Corporation Ltd (BPCL) to continue selling subsidised cooking gas (LPG) after its privatisation. (Read here)

12 Jul 2021, 08:23:17 AM IST

Market outlook

Markets are likely to be steady on Monday following global peers, while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 52,386.1, down 182.75 points or 0.35%. The Nifty closed at 15,689.80, down 38.10 points or 0.24%. (Read here)

12 Jul 2021, 08:09:05 AM IST

Stocks to Watch

Avenue Supermarts, IDBI Bank, Equitas, Ujjivan SFB, among other stocks may be in the news today. (Read here)

12 Jul 2021, 08:02:53 AM IST

Microsoft is said to be buying cybersecurity company RiskIQ

Microsoft Corp. has agreed to acquire RiskIQ, a security software maker, as the tech giant tries to expand its products and better protect customers amid a rising tide of global cyberattacks, according to people familiar with the matter.

The deal will be announced as soon as the next few days, said the people, who asked not to be identified speaking about an acquisition that isn’t yet public. Microsoft will pay more than $500 million in cash for the company, one of the people said. San Francisco-based RiskIQ makes cloud software for detecting security threats, helping clients understand where and how they can be attacked on complex webs of corporate networks and devices. Its customers include Facebook Inc., BMW AG, American Express Co. and the US Postal Service, according to the company’s web site.

12 Jul 2021, 07:54:30 AM IST

Fuel price check: Petrol at ₹101 in Delhi

Petrol price in Mumbai at 107.20/litre today, diesel at 97.29. Petrol price in Delhi is at 101.19/litre whereas diesel price is at 89.72/litre

12 Jul 2021, 07:51:29 AM IST

FPIs pull out ₹2,249 cr from Indian equities in Jul so far

After a month of net inflows, foreign portfolio investors (FPIs) pulled out 2,249 crore from the Indian equities segment in the first seven trading sessions of July. This could be largely attributed to profit booking by FPIs with markets trading near all-time highs and investors choosing to stay on the sidelines, said Morningstar India Associate Director (Manager Research) Himanshu Srivastava.

V K Vijayakumar, chief investment strategist at Geojit Financial Services, said it was important to appreciate the fact they are not selling big. "This is because even though valuations are stretched, there are no signs of a major crash in markets. The sharp dip in the US 10-year bond yield to around 1.3% has again tilted the market in favour of equity," he said. (PTI)

12 Jul 2021, 07:44:15 AM IST

Asian stocks rise

Asian stocks started the week higher after their U.S. peers chalked fresh records and Treasury yields stabilized after jumping Friday.

Shares in Japan outperformed and Hong Kong opened higher. China rose after the central bank cut the amount of cash most banks must hold in reserve to buttress a slowing economic expansion. Australia saw a more modest advance amid a prolonged lockdown in the largest city, Sydney. U.S. contracts fluctuated. The S&P 500 finished last week at all-time highs as investors continued to bet that global growth remains on track despite new Covid-19 variants.

Treasuries snapped an eight-session rally Friday that saw 10-year yields tumble as low as 1.25% in a volatile week. They will remain in focus amid new supply coming to the market this week, as well as key U.S. inflation data and Federal Reserve Chair Jerome Powell’s semi-annual appearance before Congress.

S&P 500 futures were little changed as of 10:31 a.m. in Tokyo. S&P 500 rose 1.1%

Nasdaq 100 futures were little changed. Nasdaq 100 rose 0.7%

Topix index climbed 2.2%

Australia’s S&P/ASX 200 Index rose 0.8%

Kospi index gained 0.9%

Hang Seng Index gained 1.1%

Shanghai Composite Index added 0.3%

Euro Stoxx 50 futures were little changed

SGX Nifty was up 0.46%

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout