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Home / Markets / Live Blog /  Markets snap 6-day rally; Sensex ends lower, Nifty gives up 16700 as auto weighs

Markets snap 6-day rally; Sensex ends lower, Nifty gives up 16700 as auto weighs

Stock Market Today: Stocks deal with slowdown concerns Premium
Stock Market Today: Stocks deal with slowdown concerns 

  • Market closing: India's benchmark indices ended the day in red and lost around 0.5%. Sensex ended at 55,766 and Nifty at 16,631 points. Reliance, Maruti, and M&M lagged, whereas Tata Steel and IndusInd ended in the green. Chinese and Japanese indices also closed in the red.

The European and Asian markets were tested on Monday over concerns of a global slowdown. Investors are disheartened by a key monthly survey on economic activity in US and Europe that fuelled concerns over a global economic slowdown.

25 Jul 2022, 03:42:11 PM IST

Sensex and Nifty ended their 6-day gain streak on Monday and ended in the negative zone. Oil & Gas and Auto Indices remained dull throughout the day.

Indian benchmark indices pared some gains made over the past week and ended in the red on Monday. The Sensex lost 306 points to end at 55,766, and Nifty fell 88 points and closed at 16,631.

Oil & Gas and auto indices were the worst hit, while metal index was the best performing sectoral index today. Reliance and Mahindra & Mahindra lagged on Monday and lost around 3% each. Meanwhile, Tata Steel and IndusInd Bank shares gained the most in today's session.

Stocks in other Asian countries and Europe also slipped on Monday at the start of a key week as the Federal Reserve prepares to lift interest rates again and some of the world's biggest companies report earnings.

While the US central bank is widely expected to hike borrowing costs by 75 basis points, traders will be poring over policymakers' views on the outlook for the world's biggest economy as they try to rein in inflation while nurturing growth.

Nikkei dropped 214 points or 0.77% to end the day at 27,699 points. Chinese benchmark indices ended Monday with another loss with Hang Seng Index slipping 0.22%, or 46.20 points, to close at 20,562.94. The Shanghai Composite Index fell 0.6% or 19 points to 3,250.39.

The Indian rupee strengthened to its highest level in more than a week on Monday afternoon. The rupee rises 16 paise to a provisional close of 79.74 to a dollar.

Sensex Close
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Sensex Close
25 Jul 2022, 03:27:01 PM IST

Indian rupee strengthens to over 1-week high on broad dollar losses

The Indian rupee strengthened to its highest level in more than a week on Monday afternoon tracking broad losses in the dollar, but weaker local shares and losses in other Asian peers ahead of the U.S. Federal Reserve meeting's outcome later this week limited gains.

The partially convertible rupee was trading at 79.70/71 per dollar by 0932 GMT, its strongest since July 14 and higher compared to its close of 79.8550 on Friday.

25 Jul 2022, 03:10:36 PM IST

Reliance Securities on Supreme Industries after FY23 Quarter 1 result

Arafat Saiyed - Senior Research Analyst at Reliance Securities said, “We believe that Supreme is likely to maintain a healthy growth for the next couple of quarters. As prices are stabilizing gradually and the economy is on a recovery path, the distribution channel has started to work in a normally. The company is also focusing on the export business and development of new applications like laminating with different substrates, which are likely to aid growth ahead. Going forward, we expect Supreme to deliver a stable revenue growth during FY22-FY24E, led by the higher capex, rising market share, and higher PVC prices. The company is expected to maintain a leading position in the overall pipes market, aided by a higher revenue from value-added products and a higher capex. Considering the expected higher revenue from value-added products, higher capex, rising market share, lean working capital and high return ratios, we have a BUY rating on Supreme."

25 Jul 2022, 03:08:36 PM IST

Rising securitisation volumes of microfinance loans shows investor confidence: Icra

Securitisation of loans given by microfinance institutions (MFIs) has seen a healthy bounce back during the second half of FY2022 and the trend has continued in Q1 FY2023, an analysis by Icra has found. (Full Report)

25 Jul 2022, 03:04:05 PM IST

Ashok Leyland expands AVTR tractor range

Hinduja Group flagship Ashok Leyland on Monday said it has launched two tractors in the domestic market.

The commercial vehicle maker said it has launched AVTR 4220 with 41.5T GCW and AVTR 4420 with 43.5T GCW in the tractor segment.

With this launch, Ashok Leyland becomes the first Indian firm to offer tractors with 41.5T gross combination weight (GCW) and 43.5T GCW in two-axle configuration, the company said in a statement.

25 Jul 2022, 02:51:51 PM IST

Midcap indices in green

Midcap
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Midcap
25 Jul 2022, 02:29:09 PM IST

ESIC scheme adds 14.93 lakh new members in May

Around 14.93 lakh new members joined the ESIC-run social security scheme in May 2022, according to official data released on Monday.

The latest data is part of a report -- Payroll Reporting in India: An Employment Perspective - May 2022 -- released by the National Statistical Office (NSO).

It showed that the gross new enrolments with Employees' State Insurance Corporation (ESIC) rose to 1.49 crore in 2021-22, from 1.15 crore in 2020-21. It was 1.51 crore in 2019-20 and 1.49 crore in 2018-19.

25 Jul 2022, 02:16:42 PM IST

Maruti Suzuki among laggards, loses 3%

Maruti Suzuki
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Maruti Suzuki
25 Jul 2022, 02:02:07 PM IST

4 stocks with high level of promoter buying. But is it a good sign?

If your investment goal is investing in fundamentally strong stocks, make sure the company has a high promoter holding. Today, we take a look at the four companies that have witnessed the highest promoter buying or insider buying in the past few quarters.

Read on to find out which four companies have the highest insider buying…

25 Jul 2022, 01:57:56 PM IST

Germany ‘on Brink of Recession’ as Business Confidence Plunges

German business confidence deteriorated to the worst level since the early months of the pandemic on growing concerns that record inflation and limited energy supplies from Russia will throw Europe’s biggest economy into a downturn.

A gauge of expectations released Monday by the Munich-based Ifo Institute fell to 80.3 in July from 85.8 in June. Analysts had predicted a drop to 83.0. An index of current conditions also dropped.

25 Jul 2022, 01:53:16 PM IST

Chinese stocks finish lower

Chinese benchmark indices ended Monday with another loss following a negative lead from Wall Street as traders fret over the economic outlook as central banks rump up interest rates to fight surging inflation. The Hang Seng Index slipped 0.22%, or 46.20 points, to close at 20,562.94. The Shanghai Composite Index fell 0.6%, or 19.59 points, to 3,250.39, while the Shenzhen Composite Index on China's second exchange eased 0.92%, or 20.06 points, to 2,165.36.

25 Jul 2022, 01:43:12 PM IST

Canara Bank Q1 net profit rises 71%; shares tank

Shares of Canara Bank plunged more than 3% to 222 apiece on the BSE in Monday's afternoon session after the bank reported its earnings for the first quarter ended June 2022 in which the lender witnessed a more than 71% rise in its standalone net profit.

Canara Bank's net profit for Q1FY23 rose about 71.7% to 2,022 crore as compared to 1,177.5 crore from the same quarter last year. Its net interest income (NII), the difference between interest earned and expended, rose over 10% to 6,784 crore as against 6,146 crore in the year-ago quarter.

25 Jul 2022, 01:28:41 PM IST

The European Central Bank may not be done with big increases in interest rates after surprising with an initial half-point hike last week

The European Central Bank may not be done with big increases in interest rates after surprising with an initial half-point hike last week, according to Governing Council member Martins Kazaks.

“I would not say that this was the only front-loading," Kazaks, one of the ECB’s most-hawkish officials, said in an interview in Frankfurt. “I would say that the rate increase in September also needs to be quite significant."

25 Jul 2022, 01:13:13 PM IST

India RBI May Be Back to Spot Intervention in Defense of Rupee

India’s central bank may be pivoting to the spot market from forwards in its attempts to shield the rupee from fresh record lows -- in order to minimize the knock-on effects of its intervention strategy.

Reserve Bank of India’s foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its data. While part of the drop is likely down to revaluation due to a stronger greenback, economists say the RBI has also been selling more spot US currency after previous interventions via forwards caused dislocations in that market.

25 Jul 2022, 01:12:19 PM IST

New Report Assesses the Health of India's Social Sector, Calls on Government and Companies to do More

A new social impact study, The Doing Good Index 2022 released by the Centre for Asian Philanthropy and Society (CAPS) shines a light on how the social sector has been key to India’s recovery and efforts to build back better as the world emerges from the pandemic.

The India data for the report was produced in partnership with GuideStar India and the Centre for Advancement of Philanthropy (CAP) which helped to survey 165 non-profit organizations and interview experts in the sector. It reveals opportunities for the government, companies and philanthropists to strengthen the social sector’s ability to serve vulnerable communities.

The report says India continues to face tightening regulatory oversight, in particular relating to the receipt of foreign funding and taxable income.

Mixed messages from the government create a serious impediment to the smooth functioning of the social sector and the maximization of private resources going toward doing good.

25 Jul 2022, 12:59:16 PM IST

Auto maker Mahindra & Mahindra tanks 3%

Mahindra & Mahindra
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Mahindra & Mahindra
25 Jul 2022, 12:53:28 PM IST

UK shares fall at open as slowdown fears sap risk appetite

Britain's commodity-heavy FTSE 100 tracked a decline in oil and mining stocks on Monday as hawkish central banks stoke recession worries, while investors await corporate results from Europe and the United States.

The benchmark FTSE 100 index was down 0.3% by 0705 GMT. Oil majors Shell and BP declined more than 1% each, while miners fell 0.4%, tracking weakness in commodity prices on fears that an expected U.S. interest rate hike this week will dampen demand.

25 Jul 2022, 12:43:05 PM IST

Emkay, Abira Securities apply for mutual fund license with Sebi

Financial services company Emkay Global and brokerage Abira Securities have become the latest entities to apply for mutual fund (MF) licence from market regulator Securities and Exchange Board of India (Sebi). (Full Report)

25 Jul 2022, 12:25:08 PM IST

Tata Housing Q1 revenue rises manifold to ₹623 cr

Tata Housing's sale bookings surged five folds to 623 crore in April-June 2022-23 on strong demand across its residential projects.

Housing sales of almost all real estate developers were badly impacted in June quarter last fiscal year because of the second wave of the COVID-19 pandemic.

With exponential growth in the first quarter of FY23, he said the company looks forward to reshaping the demand for residential solutions in India and international markets.

25 Jul 2022, 12:11:45 PM IST

Specialty chemical stock declares interim dividend, fixes record and payment date

While announcing its earnings for the first quarter ended June 2022, Anupam Rasayan India Ltd also declared the first interim dividend for the current financial year 2022-23. Shares of Anupam Rasayan were trading a per cent higher at 799 apiece on the BSE in Monday's early deals. (Full Report)

25 Jul 2022, 12:03:22 PM IST

Noon update: Benchmark indices down 0.7%. Sensex cuts 380 points and Nifty 115.

Oil & gas and Auto indices lag; Metal is the only index in the green. 

Sensex Noon
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Sensex Noon
25 Jul 2022, 11:59:00 AM IST

Auto Index drags with most stocks in red; M&M down 2% 

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Auto Index
25 Jul 2022, 11:55:52 AM IST

Indian bond yields fall as U.S. peers dip; rupee strengthens slightly

Indian bond yields on Monday tracked a slide in their U.S. peers and the rupee inched higher amid a modest rise in other Asian currencies, although the gains were capped by losses in the domestic share market.

The benchmark 10-year bond yield was at 7.37% by 0527 GMT, compared with its close of 7.41% on Friday.

The U.S. 10-year Treasury note yield ended the week near its lowest since late-May after weak data on Friday added to worries about the global economy and traders reassessed the Federal Reserve's ability to raise rates much further.

25 Jul 2022, 11:55:10 AM IST

Prabhudas Lilladher Pvt Ltd. on ICICI Bank, Mphasis and Reliance Industries

ICICI Bank (ICICIBC IN) - Q1FY23 Result Update - Beat on loan growth, NIM and asset quality - BUY

Reliance Industries (RIL IN) - Q1FY23 Result Update - Impressive performance - BUY

Mphasis (MPHL IN) - Q1FY23 Result Update - Modest revenue growth, resilient margins - HOLD

25 Jul 2022, 11:34:29 AM IST

This multibagger Adani stock hits new life-time high on sixth day in a row

Extending its rally that started from 14th July 2022, Adani Enterprises share price has hit its new lifetime high on the sixth straight session on Monday. Adani Enterprises share price today opened upside and went on to hit its intraday high of 2,524.80 per share, which is a fesh lifetime high. This multibagger Adani stock has been climbing a new lifetime high since 18th July 2022. (Full Story)

25 Jul 2022, 11:31:14 AM IST

Tech giants to self-regulate in reducing harmful content in New Zealand

Big tech companies agreed on Monday to reduce harmful online content in New Zealand, making a move that critics said dodged the alternative of government regulation.

Meta Platforms Inc, Alphabet-owned Google , TikTok, Amazon.com Inc and Twitter had signed a code of practice, said Netsafe, a government-funded internet-safety group. The companies would follow the code as self-regulation, Netsafe chief Brent Carey said in a statement.

25 Jul 2022, 11:22:14 AM IST

Droupadi Murmu sworn in as India's first tribal president

Droupadi Murmu was sworn in as India's president on Monday, making her the first person from one of the country's marginalised tribal communities to serve as head of state.

The former school teacher and state governor was elected to the largely ceremonial position last week with 64 percent of the vote by members of India's parliament and state assemblies.

Murmu, who is from the Santhal tribe and was born in eastern Odisha state, paid her respects before her inauguration at a memorial dedicated to India's independence hero Mahatma Gandhi in New Delhi.

25 Jul 2022, 11:00:28 AM IST

Tata Steel shares to trade ex-split this week. Share up on Monday. Record date, key details to know

Shares of Tata Steel will trade ex-split this week on Thursday, day ahead of its record date for the stock split it had announced in the ratio of 1:10, which has been fixed on Friday, July 29, 2022 for the purpose of determining the eligibility of Shareholders for the purpose of sub-division of its equity shares or stock split. (Full Report)

Tata Steel
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Tata Steel
25 Jul 2022, 10:57:07 AM IST

Yes Securities: BUY for ICICI Bank, Indiamart, UltraTech Cement, Can Fin, Infosys, and Coforge 

Recommends ADD for HDFC AMC, Greenpanel, Kajaria Ceramics, Mphasis; RIL, Kotak Bank; Ind

25 Jul 2022, 10:41:46 AM IST

A US recession will also come to Bengaluru

India’s tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.’s cheery forecast of 14% to 16% annual revenue growth, slightly better than what the country’s second-biggest exporter of software services was projecting just three months ago.

India’s Nifty IT Index has slipped 27% so far in 2022 after tripling between the onset of Covid-19 in March 2020 and the end of last year. (Full Report)

25 Jul 2022, 10:38:50 AM IST

Asian markets on retreat spurred by disappointing economic data and corporate earnings

On Monday in Asia, Tokyo's Nikkei 225 gained 0.8% to 27,678.94 and the Kospi in Seoul added 0.3% to 2,400.38.

Hong Kong's Hang Seng declined 0.7% to 20,465.69, while the Shanghai Composite index gave up 0.3% to 3,260.74.

25 Jul 2022, 10:22:23 AM IST

Gold prices fall today, down ₹5,000 per 10 gram in 4 months

Gold and silver rates today fell in Indian markets, tracking a weak trend in global markets. On MCX, gold futures fell to 50,622 per 10 gram while silver dropped 0.5% to 54,865 per kg. In India gold rates had scaled 55,000 in March before seeing a sharp drop.

25 Jul 2022, 10:19:56 AM IST

RIL shares tumble after Q1 earnings. Good buying opportunity?

Shares of Reliance Industries Ltd (RIL) plunged over 3% on the BSE in Monday's opening deals on missing estimates in June quarter even as its net profit jumped 46% to 17,955 crore on the back of robust refining margins due to intake of cheaper Russian crude and fuel exports buoyed its dominant oil-to-chemicals business. (Full Report)

Reliance
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Reliance
25 Jul 2022, 10:07:58 AM IST

Rupee rises 9 paise to 79.81 against US dollar in early trade

The rupee appreciated 9 paise to 79.81 against the US dollar in early trade on Monday, supported by the fall in crude oil prices. At the interbank foreign exchange, the rupee opened at 79.86 against the American dollar. In initial trade, the local currency witnessed a high of 79.81 and a low of 79.87 against the US dollar.

25 Jul 2022, 10:05:29 AM IST

Stick to stock centric approach in the forthcoming sessions: Angel One Ltd

Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd: In our sense, the index-specific move may not be that fascinating now from traders’ point of view, and hence it's better to stick to stock centric approach in the forthcoming sessions as well. A lot of thematic moves started doing well and therefore, the pragmatic approach would be to focus on such potential movers which are likely to provide better trading opportunities. To sum it up, although the undertone remains bullish, it’s essential to understand that the low-hanging fruit is already gone, hence, it's advisable not to become too complacent; rather, it's better to take one step at a time for a while.

25 Jul 2022, 10:03:26 AM IST

All Broad Market Indices in red on Monday morning

Broad Indices
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Broad Indices
25 Jul 2022, 09:45:08 AM IST

Why Zomato shares plunged to all-time low today?

Zomato share price today tumbled by over 11 per cent in early morning deals as the one-year lock-in for promoters, shareholders, employees and others has ended today. The total paid-up capital of the one-year overhang is around 78 per cent and market experts were expecting sell-off pressure for the food chain platform stock this week. The public issue of Zomato Limited was listed on BSE and NSE on 23rd July 2021. (Full Report)

25 Jul 2022, 09:37:49 AM IST

COVID-19: Positivity rate above 7 pc after 168 days, says govt

With 16,866 new coronavirus infections being reported in a day, India's tally of COVID-19 cases rose to 4,39,05,621, while the daily positivity rate crossed 7 per cent again after a gap of 168 days, according to the Union Health Ministry data updated on Monday. The active cases have declined to 1,50,877, while the death toll has climbed to 5,26,074 with 41 new fatalities, the data updated at 8 am stated.

25 Jul 2022, 09:29:29 AM IST

Oil and Gas Index down 1.5%; Reliance tanks 3% 

Oil and Gas
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Oil and Gas
25 Jul 2022, 09:25:58 AM IST

Indices are down at open on Monday. Reliance and Ultratech Cement were in red, whereas ICICI made gains at the start 

Sensex Open
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Sensex Open
25 Jul 2022, 09:08:20 AM IST

5G sale starts on Tuesday; no aggressive bids expected

Reliance Jio Infocomm Ltd, Bharti Airtel Ltd and Vodafone Idea Ltd are set to fight it out to secure bandwidths for rolling out 5G networks starting Tuesday when the government will put airwaves worth 4.3 trillion on sale. The spectrum auction will also see new entrant Adani Data Networks pick up spectrum for launching its captive network and deploying networks for enterprises. (Full Report)

25 Jul 2022, 09:03:38 AM IST

Sensex down at pre-open. Indices set to pare gains made in the previous week.

Sensex Pre-open
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Sensex Pre-open
25 Jul 2022, 08:56:50 AM IST

Auto dealers' body expects array of vehicle launches ahead of festival season

Auto dealers' body FADA said it expects automakers to launch higher number of models this festive season compared to the last two years when Covid-19 pandemic overshadowed the festive cheer.

Federation of Automobile Dealers' Association (FADA) president Vinkesh Gulati had termed 2021 festive season as the "worst" in a decade in terms of business of its retail partners.

However, most of the new vehicle launches are expected to be in the compact SUV or SUV segment, he said and emphasised that "90 per cent of the launches (will be) driven towards the SUV segment."

25 Jul 2022, 08:47:43 AM IST

As Singapore visitor arrivals rise, India becomes major contributor

As Singapore reopened its borders for all the Covid-19 vaccinated travellers in April this year, the country received more than 1.5 million visitors till June 2022. However, around 9.3 million tourists visited Singapore in the first half of 2019, which is 12 times higher in number it received for the corresponding period in 2021, according to the news agency ANI.

Of these 1.5 million visitors during the first half of this year, Indians represent the second highest nationality who visited Singapore during this period. The agency reported that over 219,000 Indians visited this country till June 2022.

Indonesia with 282,000 visitors, Malaysia with 139,000, followed by Australia (125,000) and the Philippines with 81,000 are among the top five countries which accounts for over 56% of international visitors from January to June this year.

25 Jul 2022, 08:29:30 AM IST

Yes Bank shares: Should you buy, sell, reduce post better-than-expected Q1 results?

Yes Bank reported 50% increase in net profit at 311 crore for the first quarter ending June 2022 on the back of the fall in provisions for bad loans, and healthy income growth. The bank had clocked a net profit of 207 crore in the year-ago period. (Read More)

25 Jul 2022, 08:18:58 AM IST

Policybazaar's IT systems breached, no customer data exposed

Insurance aggregator company Policybazaar has identified certain vulnerabilities in a part of its IT systems and the same were subject to illegal and unauthorized access, parent company PB Fintech said.

Such unauthorized access was reported on July 19, 2022, it said in a regulatory filing to the exchanges on Sunday evening. Policybazaar has reached out to the "appropriate authorities" and is taking due recourse as per law.

25 Jul 2022, 08:11:06 AM IST

US economy slows down. Business activity contracted for the first time in nearly 2 years in July.

Business activity in the United States, the world's largest economy, contracted for the first time in nearly two years this month, activity in the euro zone retreated for the first time in over a year, and growth in Britain was at a 17-month low, purchasing managers' surveys said last week.

25 Jul 2022, 08:09:24 AM IST

Stocks to Watch: Reliance, JSW Steel, Infosys, ICICI Bank, Yes Bank

Axis Bank, GlaxoSmithKline, Canara Bank, Tech Mahindra, Tata Steel will be in focus as they declare their June quarter earnings today. (Full Report)

25 Jul 2022, 07:52:43 AM IST

Infosys vs TCS vs Wipro vs HCL Tech: Which company hired most employees in Q1

Infosys has made the highest hiring in the quarter ending June 30, 2022 (Q1FY23) compared to its peers TCS, Wipro, and HCL Tech. In the quarter under review, Infosys net additions stood at 21,171 employees. Infosys plans to fuel its strong growth moment with strategic investments in talent through hiring and attractive compensation revisions. Through this, Infosys expects a reduction in its attrition levels which is at 28.4% in Q1FY23 rising from Q1FY22 and Q4FY22. In Q1FY23, Infosys missed analysts estimates as spike in costs offset the shine of strong deals in the earnings. (Full Report)

25 Jul 2022, 07:50:37 AM IST

Reliance warns of global recession headwinds after profit miss

Reliance Industries Ltd. has warned that a global recession can hurt oil refining margins, flagging the possibility of more pain ahead after the owner of world’s largest refining complex posted a lower-than-expected profit.

Crude oil prices have slipped in the past two weeks and if they fall this week, it will be the third weekly drop -- the longest run of declines this year -- primarily due to fears that a global slowdown may dampen demand for fuels. (Full Report)

25 Jul 2022, 07:39:39 AM IST

ECB May Endure Moderate Recession to Halt Prices, Holzmann Says

The European Central Bank may have to accept a moderate recession to stem price pressures if it sees signals that inflation expectations are rising, Governing Council member Robert Holzmann said. He said the size of a next tightening step in September will depend on developments in the economic outlook. That will determine whether the next move is another 50 basis-point hike, a larger or a smaller one.

25 Jul 2022, 07:37:46 AM IST

Kotak’s succession plan to  start  this year

Kotak Mahindra Bank will formally begin the process of succession planning later this year, as the term of its founder and managing director Uday Kotak ends in December 2023. In an interview after the bank’s June quarter earnings, joint managing director Dipak Gupta said that family members are not natural successors at banks, and Uday’s son Jay Kotak will follow the normal career path. (Read More)

25 Jul 2022, 07:34:56 AM IST

Dollar firm as US Fed meeting and growth risks dominate

The dollar was on a firm footing on Monday, as traders brace for a sharp U.S. interest rate hike this week and look for safety as data points to a weakening global economy. he greenback was up slightly against most majors early in the Asia session, trading at $1.0195 on the euro and steadying Friday losses to buy 136.57 Japanese yen.(Read More)

25 Jul 2022, 07:33:25 AM IST

Reliance expects gas price to rise in Oct, wants removal of ceiling prices

The conglomerate, controlled by billionaire Mukesh Ambani, expects the price cap for its KG-D6 gas sales to rise over the current USD 9.92 per million British thermal units, Sanjay Roy, senior vice-president for exploration and production, said in an investor call following the announcement of the firm's quarterly earnings on Friday.

After remaining a loss-making provision for several quarters, Reliance's gas exploration business has begun reaping rewards of a global surge in energy prices that have already pushed the rates to a record high.

25 Jul 2022, 07:29:13 AM IST

Nikkei opens lower

The benchmark Nikkei 225 index slipped 0.62% or 173.32 points, to 27,741.34 in early trade, while the broader Topix index fell 0.42%, or 8.29 points, to 1,947.68.

25 Jul 2022, 07:29:13 AM IST

Wall Street ended in red on Friday

Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies. The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in six weeks.

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