Sensex Today: Stock Market LIVE Updates: Sensex rises 200 points, Nifty nears 17,500; defensive bleed; SBI falls 3%, Nykaa rises 3% post Q1 show

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Tata Motors has inked a pact to acquire Ford India's Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment located therein, the Mumbai-based auto major said in a statement.

Price as on 08 Aug, 2022 10:48 AMClick on company names for their live prices.

Syrma SGS Tech IPO to open on Aug 12; price band fixed at Rs 209-220 apiece

After a break of nearly three months, the primary market is likely to get some mojo back as the initial public offering (IPO) of Syrma SGS Technology will open for subscription on Friday, August 12. The engineering and design company has fixed the price band at Rs 209-220 apiece for the issue. The issue will run until August 18 (Thursday). The company is aiming to raise Rs 840 crore via its primary offering, which includes a fresh issue of Rs 766 crore, whereas existing shareholders and promoters will offload 33,69,360 equity shares from their holding.

Syrma SGS Tech IPO to open on Aug 12;  price band fixed at Rs 209-220 apiece

RBI may hike repo rate to 6.00%, pace may slow: Analysts

The Reserve Bank of India is likely to raise its key policy rate by upto 60 basis points by the end of 2022, before pausing, but the pace of rate hikes is likely to slow down, analysts said."We are retaining our view of a terminal policy rate of 6%...We expect a 35 bps hike at the next meeting in September and a final 25 bps hike in December, before growth concerns and the cumulative rate hikes delivered thus far lead the MPC to shift into an extended pause ," Nomura economist Sonal Varma said in a note.

Earnings Impact

Price as on 08 Aug, 2022 10:05 AMClick on company names for their live prices.

Rupee opens lower on aggressive Fed policy tightening expectations

The Indian rupee opened lower against the dollar on Monday, tracking broad decline in Asian peers after upbeat US jobs data prompted traders to bet on an aggressive 75-basis-point rate hike from the Federal Reserve in its September meeting. The rupee was trading at 79.46 per US dollar by 0333 GMT, compared with the previous close of 79.23.

Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

A paradox in the economy-market connection is that good news on the economy can turn out to be bad news for markets. This is playing out now. The July US jobs data came in at a robust 580000 against the poll of 250000. This indicates a strong economy nowhere near recession. This means the Fed might hike rates by another 75 bp in September to cool the economy to contain inflation. Therefore, there can be a near-term strengthening of the dollar. It remains to be seen how FIIs will react to this.

Growth impulses in India are strong. Leading indicators like bank credit growth, capacity utilization in manufacturing, automobile demand etc suggest an economy in strong rebound.
Financials, capital goods and construction are on a strong wicket. Pharma and FMCG are stable. Robust jobs data in the US bodes well for the IT sector.

Most active stocks on NSE

Price as on 08 Aug, 2022 09:20 AMClick on company names for their live prices.

Sensex Heatmap: Top gainers & losers at opening tick

Sensex Heatmap: Top gainers & losers at opening tick

OPENING BELL: Sensex up 30 points, Nifty holds above 17,400; SBI falls 2%, Nykaa gains 3%

Asian shares trade mixed

Asian share markets were mostly softer on Monday and the dollar held firm after a stunning US payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.

Quarterly earnings today

Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminum Company are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 65 points, or 0.37 percent, lower at 17,358.50, signaling that Dalal Street was headed for a negative start on Monday.

Tech View: Nifty50 loses momentum, may enter consolidation phase

Nifty50 on Friday ended on a flattish note for the second straight session. The index formed an indecisive candle on the daily chart. On the weekly scale, the index formed a small bullish candle. Analysts said the index might be losing momentum after recent strong gains. They see 17,500 as an immediate resistance level. The level of 17,150 may act as strong support, they said.

Oil slides amid recession fears, slow recovery in China imports

Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China's crude imports last month.

Tokyo markets open lower after recent gains

Tokyo stocks opened lower Monday after recent gains in Japanese markets and with US tech share prices softening. The benchmark Nikkei 225 index fell 0.33 percent, or 92.54 points, to 28,083.33 in early trade, while the broader Topix index lost 0.36 percent, or 6.94 points, at 1,940.23.

S&P 500 ends down as jobs data rekindles rate hike fear

The S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation.

Rupee rises 16 paise to 79.24 against US dollar

Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points.

Sensex, Nifty on Friday

The BSE Sensex remained choppy in the last hour but settled 89 points higher at 58,388. Its NSE counterpart, Nifty50, recovered from the day's lows to add another 16 points but ended the week below 17,400.

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader!  Here's something to kickstart your trading day

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