Friday, December 3

Month: June 2021

Market Ahead Podcast, June 30: Top factors that could guide markets today
Stock Market

Market Ahead Podcast, June 30: Top factors that could guide markets today

By Administrator_India Capital Sands Early indications suggest the bulls are likely to return to Street after a two-day hiatus as the global setup remains positive, while approval by the Drugs Controller General of India (DCGI) to a fourth Covid vaccine, the one by Moderna could also aid sentiments. At 7.25 am, Nifty futures on the Singapore Exchange traded 45 points higher at 15,832, indicating a strong start for the benchmark indices. Meanwhile, in overnight trade, the S&P 500 and the Nasdaq both registered record closing highs, lifted by Apple Inc and other technology stocks after an upbeat consumer confidence report. Dow closed little changed after a session marked by lighter than average volume. Overall, the Dow Jones Industrial Average rose 0.03%, the S&P 500 a...
Facebook hits $1 trillion value after judge rejects antitrust complaints
Business

Facebook hits $1 trillion value after judge rejects antitrust complaints

By Administrator_India Capital Sands A U.S. judge on Monday dismissed federal and state antitrust complaints against Facebook Inc that sought to force the social media company to sell Instagram and WhatsApp, saying the federal complaint was "legally insufficient." Facebook shares rose more than 4% after the ruling. The share price rise put Facebook's market capitalization over $1 trillion for the first time. The dismissal was the first big blow to state and federal lawsuits against Big Tech firms last year seeking to rein in alleged abuses of their massive market power. Judge James Boasberg of the U.S. District Court for the District of Columbia said the FTC failed to show that Facebook had monopoly power in the social-networking market but said the FTC could file a new comp...
Dollar Up Despite Softer-Than-Expected Inflation Data
Forex

Dollar Up Despite Softer-Than-Expected Inflation Data

By Administrator_India Capital Sands The dollar was up on Monday morning in Asia although the U.S. inflation data was slightly softer than expected. Investors remained concerned about a tightening monetary policy if the consumer price pressures continue to intensify. The US Dollar Index that tracks the greenback against a basket of other currencies inched up 0.03% to 91.868 by 10:33 PM ET (2:33 AM GMT). The USD/JPY pair inched down 0.08% to 110.69 after the Bank of Japan released its summary of opinions earlier in the day. Policymakers expected that the accelerating COVID-19 vaccination will prompt economic recovery. "A positive economic cycle is kicking off in Japan due to progress made in vaccinations," one of the nine board members said. The AUD/USD pair inched down 0....
Dollar firm as traders brace for U.S. inflation data
Forex

Dollar firm as traders brace for U.S. inflation data

By Administrator_India Capital Sands The U.S. dollar held near multi-month highs on Friday as investors warily awaited U.S. inflation data, while the pound nursed modest losses after Bank of England (BoE) policymakers leaned away from flagging rate rises. Early Asia trade was steady, with the euro pinned below its 200-day moving average at $1.1930 and the yen just short of a 15-month low at 110.955 per dollar. The dollar vaulted to its highest levels since March against the euro last week - and to its highest since March 2020 on the yen - after the U.S. Federal Reserve surprised markets by projecting interest rate rises sooner than expected in 2023. Subsequent rhetoric from Fed chair Jerome Powell seems to have calmed nerves in bond and stock markets about hikes any time soo...
Dollar rally sputters as Fed sends mixed signals on inflation
Forex

Dollar rally sputters as Fed sends mixed signals on inflation

By Administrator_India Capital Sands The U.S. dollar vacillated below an 11-week high versus major peers on Thursday as traders attempted to navigate conflicting signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus. The dollar index, which measures the greenback against six rivals, stood at 91.806 early in the Asian session after dipping to 91.509 on Wednesday. It was at 92.408 at the end of last week, the highest since April 9. The U.S. currency got some support overnight as two Fed officials said that a period of high inflation in the United States could last longer than anticipated, a day after Fed Chair Jerome Powell played down rising price pressures. Atlanta Fed President Raphael Bostic said with growth surging to an estimated 7% th...
Stocks to watch: Hero Moto, NMDC, HDFC Bank, Centrum Capital, VIL, CDSL
Stock Market

Stocks to watch: Hero Moto, NMDC, HDFC Bank, Centrum Capital, VIL, CDSL

By Administrator_India Capital Sands Nifty futures on SGX traded 63 points or 0.40 per cent higher at 15,832 around 8.40 am, indicating a strong start for the benchmark indices on Wednesday. Here are the top stocks to track today: Earnings Today: Apollo Hospitals Enterprise, HCC, Mcleod Russel India, Mercator and V2 Retail are among 64 companies slated to release quarterly earnings today. NMDC: The company posted a manifold jump in its net profit to Rs 2,838 crore for the quarter ended March 31, 2021. It had clocked a Rs 351-crore net profit during the January-March period of the financial year 2019-20. Hero MotoCorp: Two-wheeler maker Hero MotoCorp will hike its vehicle prices by up to Rs 3,000 from July to partially offset the impact of the higher commodity prices. U...
Oil price falls but sentiment stays strong on demand recovery hopes
Oil

Oil price falls but sentiment stays strong on demand recovery hopes

By Administrator_India Capital Sands Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets and fading expectations for an early return of Iranian crude. Brent crude futures for August eased 10 cents, or 0.1%, to $74.80 a barrel by 0110 GMT, while U.S. West Texas Intermediate (WTI) crude for July was at $73.44 a barrel, down 22 cents, or 0.3%. WTI for August fell 15 cents, or 0.2%, to 72.97 a barrel. Brent gained 1.9% and WTI jumped 2.8% on Monday. Both benchmarks have risen for the past four weeks on optimism over the pace of global COVID-19 vaccinations and expected pick-up in summer travel. The rebound has pushed up spot premiums for crude in Asia a...
Oil edges up as Iran nuclear talks drag on
Oil

Oil edges up as Iran nuclear talks drag on

By Administrator_India Capital Sands Oil prices nudged up on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer. Brent crude futures for August gained 30 cents, or 0.4%, to $73.81 a barrel by 0051 GMT, while U.S. West Texas Intermediate (WTI) crude for July was at $71.96 a barrel, up 32 cents, or 0.5%. Both benchmarks have gained for the past four weeks amid optimism over the pace of global vaccinations and a pick up in summer travel. The rebound has already pushed up spot premiums for crude in Asia and Europe to multi-month highs. "The rebound in demand in the northern hemisphere summer is so strong that the market is becoming ...
Sensex, Nifty Likely To Have A Positive Opening
Stock Market

Sensex, Nifty Likely To Have A Positive Opening

By Administrator_India Capital Sands At 7:30 am, the Nifty futures were trading higher by 0.65 per cent on Singapore Stock Exchange The domestic stock markets are likely to open in the green as trends on the back of positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India, with a 74-point gain. At 7:30 am, the Nifty futures were trading at 15,767, higher by 74 points or 0.65 per cent, on the Singapore Stock Exchange. Asian markets were mixed in Friday morning trade following an overnight drop for the Dow Jones Industrial Average on Wall Street. In Japan, the Nikkei 225 gained 0.14 per cent while the Topix index slipped 0.55 per cent. South Korea's Kospi traded fractionally higher. The S&P/ASX 200 in Australia advanced 0.17 per cent. ...
Bonds stung, dollar cheered by sudden hawkish turn at Fed
Economy

Bonds stung, dollar cheered by sudden hawkish turn at Fed

By Administrator_India Capital Sands Asian equities fell to a three-week low on Thursday after the U.S. Federal Reserve stunned investors by signalling it might raise interest rates at a much faster pace than assumed, sending bond yields and the dollar sharply higher. The dollar boasted its strongest single day gain in 15 months as 10-year U.S. Treasury yields jumped by the most since early March. The fallout in equities was softer, but enough to push MSCI's broadest index of Asia-Pacific shares outside Japan down about 0.6% to its lowest since late May. Japan's Nikkei fell 1% and S&P 500 futures were 0.4% lower in Asian trade. Emerging markets might not hold up as well, as they are vulnerable to the chance that early U.S. rate hikes suck funds out of riskier assets -...